Trading apps for beginners :
Before the time of mobile phones and the availability of the internet people used to trade stocks through their telephones with the help of stockbrokers. It was a rather complicated process and took a lot of time as well as not everybody was comfortable with the way the market operated. But after the invention of the internet and the availability of stock trading apps on individual mobile phones, there has been a significant rise as well as a great shift in the way trading is done. Here are a few stock trading apps for beginners.
1. Zerodha Kite :-
Zerodha Kite is a stock trading app available on both iOS as well as on Android. It is one of the prominent firms in India. This app consists of over 4500 stocks of companies and listed in NSE as well as BSE.
There are three types of accounts one can open :
a. Equity De-mat account
b. Commodity trading account
c. Equity and derivatives trading accounts
The user interface is one of the best on this app and it has Trading View charts as well as views for multi-Market watch. It even includes :
a. The highest data level available in the stock market
b. A user-friendly charting package
c. The sentinel feature alerts the users about stocks assets as well as other options available
However, Zerodha doesn’t offer a demonstration account but Zerodha doesn’t demand any lowest amount to possess a trading account nor does one have to keep a minimum balance. It is also one of the safest apps as declared by SEBI.
2. Upstox :-
Upstox is a brokerage company that has its mobile app developed for traders. Upstox is one of the high-ranked trading platforms in India. It is one of the fastest ones which is a requisite for trading. It charges a mere Rs. 20 for each trade. For opening a Demat and trading account it charges Rs. 299 and no brokerage on stock delivery. It offers a combined account of Demat trading and savings also known as IndusStox. It demands no minimum balance and has a customizable account number and there is no requirement to pay any extra charges for this account.
Upstox offers two kinds of plans :
a. Basic
b. Priority
The priority plan is for people who are well equipped with the market and trade high margins daily. The priority plan, however, charges Rs. 30 per trade, and other additional charges cost more than a thousand.
Some of the notable features of the trading account in Upstox are :
a. One of the least account openings charges
b. Minimal brokerage charges
c. Dozens of technical indicators and charting tools to keep an eye on the market
3. Fidelity Investment :-
Fidelity is one of the most renowned trading apps in the United States of America. It has no charge on trading commissions and is well known for its helpful customer service. It carries high ranks for its mutual funds where the investors can save a lot of money it offers ample amount of education services which are well regarded amongst brokers.
There are more than 3500 no-transaction-fee mutual funds, while the options trades are free from commission though they cost a mere $ 0.65 as a contract fee. It consists of over 700 index as well as mutual funds having expense ratios less than half a percent. Fidelity also enables traders to buy shares infractions so that stocks that cost high can be bought in parts rather than the entire stock.
It has two trading platforms :
a. Active trader pro
b. Fidelity.com
The platform includes a pre-developed market, technical filters, multi-trade options, and other advanced features. The apps include multi-leg options trading, well-built research offerings as well as a notebook to gather one’s important ideas or web searches. Fidelity also launched a brand new app called fidelity spire designed for young traders.
To conclude, these various trading apps have widened the reach of investors and revolutionized the way stock trading was done. These mobile apps are developed with user-friendly features and options that enhance the knowledge of beginners. These also save the time of the traders and investors as well as provide transparency in trading as compared to the orthodox trading methods.
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