The world we live in makes it easier than ever to buy stocks. Thanks to progress in technology, you can now buy and sell stocks using a variety of stock trading apps that you can carry with you. But how can you choose the best app for buying stocks when there are so many to choose from?
This guide will look at the best app for buying stocks, talk about the things you should think about when picking the best app for your needs, and rank them.
India is not the only place where you can invest. Besides Indmoney and Vested, there are other apps that let you buy US stocks from India. You can read a full review of the Indmoney app and see how it stacks up against Vested when it comes to investing in US stocks. Today, we’re going to talk about the best app for buying stocks in India.
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There are many things that investors can buy and sell on both the BSE and the NSE. These include stocks, commodities, derivatives, mutual funds, exchange-traded funds (ETFs), and more. People usually buy and sell stocks, which are equities. Stocks are made up of shares of companies. Things that can be seen and touched, like gold, silver, oil, and other goods, are called commodities. You may find out more about the best Indian broker for trading commodities here.
You need both a trading account and a demat account in order to trade stocks. When you want to buy or sell something on the exchange, you use a trading account. You can keep your shares in electronic form in a demat account. To move money between your trading and demat accounts, you also need a bank account that is linked to them.
To open a trading and demat account, you need to pick a broker. The broker will connect you with the exchange. The Securities and Exchange Board of India (SEBI), which oversees the Indian stock market, registers people and businesses to act as brokers. You will have to pay a broker for services like brokerage, opening an account, keeping it up to date, and so on.
In India, there are various kinds of brokers, including discount brokers and full-service brokers. Full-service brokers do more than just trade for their clients. They offer research, advice, portfolio management, and other services. Discount brokers only let their clients trade, and they do it for very little money.
Thanks to progress in technology, you can now trade stocks on your phone or tablet using different apps. You can get to your trading and demat accounts from these apps at any time. These apps also let you get news, analysis, charts, and market data in real time.
Also read: Best Demat Account for College Students in India
But, how do you pick the best app for buying stocks in India? There are a lot of things you should think about before choosing an app to buy stocks. Here are some of the factors to look at:
What Should You Look for in a Stock Trading App?
Picking the best app for buying stocks is very important. Here are some key points to consider:
Easy-to-Use Interface
An easy-to-use interface is important for both new and experienced traders. The app should have a simple, easy-to-understand interface that lets you quickly switch between features and functions. The app should work quickly and reliably so that your transactions and orders are carried out quickly. The simple and easy-to-use interface of ‘Groww’ makes it stand out from the rest.
Security Features
Safety should be one of the main things you think about when choosing a stock-buying app. You should give more weight to an app that encrypts your financial information and offers two-factor authentication to make things even safer. The app should have strong security features that keep your private and financial data safe from people who shouldn’t be able to see or use it. Zerodha is one of the safest sites because it offers two-factor authentication through the authenticator app.
Feature List
There should be order types, watchlists, alerts, portfolio trackers, and other important features in the app that you need to trade on the stock market.
Fees and commissions for trading
Fee structures for different apps are different. Some charge a fee for each trade, while others let you trade without paying a fee. We have figured out how these fees affect your overall returns, and then made a choice.
Useful Tools for Analysis and Research
Tools for in-depth research and analysis could help you make better decisions about which stocks to buy and how to buy them. Find apps that offer real-time data, technical analysis, and fundamental analysis. Tradingview Premium is built into some apps, like Upstox and Dhan, so you can use it for technical analysis.
Support for Customers
The app should have a quick and helpful customer service team that can answer any questions or help you with any problems you may have while using the app.
Easy access on mobile
Before you download the app, make sure it works with the phone’s operating system. Most stock trading apps can be used on both iOS and Android, but it’s still a good idea to check. We picked only apps that work on Windows, iOS, and Android units.
Payment options
We have checked the different payment methods that are available for opening an account and taking money out of it. All the apps discussed below offer UPI and net banking fund transfers.
Reviews
The app should have positive reviews from other users who have used it before. You can check online platforms such as Google Play Store or App Store for user ratings and feedback. In this article, we have already done this for you.
Now, let’s explore the top stock trading apps in India that meet the above criteria:
Apps Overview
What are these platforms and how well-known are they before we get into the details? You might choose one of these platforms over another based on their history and values.
- Zerodha: Zerodha was one of the first discount brokerage firms and was founded in 2010. They are known for having clear prices and platforms that are easy to use. Read more about Zerodha company information here.
- Upstox: This well-known discount brokerage platform used to be called RKSV Securities and is proud of its low-cost trading. Read more about Upstox company information here.
- Dhan: Dhan is a fairly new company that lets people trade and invest fast which is quite essential when it comes to trading. Read more about Dhan company information here.
- Groww: Groww has become popular as an easy-to-use platform for investing in mutual funds. Read more about Groww company information here.
- 5-Paisa: 5Paisa Capital Ltd (5PCL) was set up as a public limited company on July 10, 2007. 5paisa has a unique feature called “Robo Advisory” that uses AI to give you personalized investment advice based on your investment goals and risk tolerance. Read more about 5paisa company information here.
- Mstock: Mstock is known for giving traders new features and tools. The unique selling point of Mstock is that it charges Zero commission on trading. But, the initial account opening fee is highest of Mstock. Read more about Mstock company information here.
What’s the best app to buy stocks
1. Upstox: Good for Traders
Upstox’s Features
Over 4 million people in India use Upstox, which is the biggest discount broker in the country. It has a trading app called Upstox Pro that lets you trade on the BSE, NSE, and MCX. It is very powerful and has a lot of features. You can make multiple watchlists, place advanced orders, view live charts, and more with Upstox Pro’s easy-to-use and customizable interface.
Upstox Pro also gives you access to a number of tools, such as scanners, alerts, backtesting, and more. For intraday trades, Upstox charges a flat fee of 20 or 0.03%, whichever is less. There is no brokerage fee for equity delivery trades. Upstox also has other apps, like Upstox Learning for learning, Upstox MF for investing in mutual funds, and Upstox Smallcase for investing in themes.
People who trade and invest a lot often choose Upstox as the best app for buying stocks. It has advanced charting tools and resources for analysis. It is famous for having a trading platform that is very fast. Both new and experienced traders can use it without any problems. People who trade a lot choose Upstox because it has low prices and powerful charting tools. One more great thing about Upstox is that you can trade commodities.
Read more about Upstox account opening benefits.
Pros of Using Upstox
- Advanced charting tools
- Fast order execution
- Competitive Pricing
- Good referral benefits are available through the partner program via Upstox coupon/ Promo/ referral codes/ referral links.
Cons of Using Upstox
- Inadequate customer support
- Can be complex for new user
2. Zerodha: The Pioneer in Discount Broking
Zerodha’s Features
Over 5 million people have used Zerodha, making it one of the biggest discount brokers in India. It gives you a trading app called Kite that lets you trade on the BSE, NSE, and MCX. It’s sleek and light. Kite lets you search for, analyze, and trade stocks, commodities, currencies, and derivatives. Its interface is simple and beautiful. On Kite, you can also get to different tools, like charts, indicators, screeners, and more.
For equity delivery trades, Zerodha doesn’t charge any brokerage. For other segments, the company charges a flat fee of Rs. 20 or 0.03% of the order value, whichever is less. There are other apps from Zerodha as well, like Coin for mutual funds, Varsity for education, and Console for reports.
It has become very popular thanks to its easy-to-use platform and new tools, and it is one of the best apps for buying stocks. Zerodha has won the hearts of many traders on a budget thanks to its flat fee structure and free equity investments. It is known that Zerodha brought discount broking to India. It has a trading platform that is easy to use, low brokerage fees, and many investment options.
Also read: Check Zerodha vs Indmoney charges
Pros of Using Zerodha
- Low brokerage charges
- Comprehensive research tools
- User-friendly interface
- Excellent customer support
Cons of Using Zerodha
- Limited customer service hours
- Account opening is not Free
3. Dhan: Making Investing Simple
Dhan’s Features
Dhan, a new stock market app that came out in 2021 from Alpsoft Technologies. It provides a trading app named Dhan that lets you trade on both the BSE and NSE. The app is very basic and easy to use. Dhan’s interface is clean and easy to use, making it simple to find stocks, do research on them, and trade them. Dhan also gives you access to many tools, such as news, insights, recommendations, and more.
For equity delivery trades, Dhan doesn’t charge any brokerage. For equity intraday and all segment futures, it charges a flat fee of ₹20 or 0.03% of the trade value per executed order, whichever is less. Dhan has more features, like the ability to trade directly on charts, trade and invest with APIs, use margin trading, trade from the web trading platform, and trade directly from tradingview.
Dhan tries to make investing easy, especially for people who are just starting out. It lets you invest without paying any fees and set investment goals. Dhan has found a niche by making it easy for new investors. Many first-time investors are interested in it because it has a no-commission model and an easy-to-use mobile app. With Dhan, investing is easy for people who want a simple and fast experience.
Pros of Using Dhan
- Zero commission for Equity delivery
- Goal-based investment planning
- Easy-to-use mobile app
Cons of Using Dhan
- Limited research tools
- The mutual funds option is not available
4. Groww: The User-Friendly Choice
Groww’s Features
Groww has over 15 million users and is one of the fastest-growing app in India to buy stocks and mutual funds. It has a trading app called Groww that lets you trade on the BSE and NSE. It is simple and easy to use. Groww’s interface is easy to use and looks good, so you can feel good about exploring, learning, and investing in stocks.
Groww also gives you access to many tools, such as news, videos, blogs, and more. For equity delivery trades, Groww doesn’t charge any brokerage fees. For all other segments, the fee is a flat Rs. 20 per order. Groww also has other features, such as Groww SIP (for systematic investing), Futures & Options, and Direct Mutual Funds.
Groww’s app is known for being easy to use, which makes it a great choice for new investors. It has a KYC process that doesn’t use paper. It’s good for long-term investors because it’s easy for beginners to use and there are no fees for investing in mutual funds.
Pros of Using Groww
- User-friendly interface
- Paperless KYC process
- Offers Credits and loans
Cons of Using Groww
- Limited advanced trading features
- Limited research resources
Read a detailed comparison between Groww & Upstox
5. 5paisa: A One-Stop Financial Supermarket
5paisa’s Features
With more than 1.5 million customers, 5paisa is one of the biggest online brokers in India. It has a trading app called 5paisa that lets you trade on the BSE, NSE, and MCX. It is a complete and flexible app. 5paisa has a dynamic and interactive interface that lets you use one platform to get to many products and services, like stocks, mutual funds, insurance, loans, and more.
On 5paisa, you can also get to different tools, like charts, screeners, robo-advisors, and more. For equity delivery trades, 5paisa doesn’t charge any brokerage fees. For all other segments, they charge a flat fee of Rs. 20 per order. 5paisa also has other features, such as 5paisa School for learning, 5paisa Smart Investor for research, and 5paisa Smallcase for investing in themes.
It has a trading platform with a lot of features and a lot of research tools. If you want to diversify your investments, 5paisa is a great choice. With a 5paisa referral code, you can get extra benefits.
Pros of Using 5paisa
- A wide array of financial services
- Low brokerage fees
- Robust research tools
Cons of Using 5paisa
- Complex fee structure
- High AMC charges
Read a detailed comparison between 5paisa & Upstox.
6. Mstock: The New Player in Town
Mstock’s Features
Mstock app by Mirae Asset is a stock market trading app that offers zero brokerage for life on various investment products such as equity, ETFs, IPOs, mutual funds and currency. It also provides margin trading facility (MTF) at one of the lowest interest rates in the industry. The app has over 5 million downloads and a 4.3 star rating on Google Play Store. It is backed by Mirae Asset, a global financial group with over 25 years of experience and USD 565 billion of assets under management .
We have done a detailed review of Mstock that you can read here.
Pros of Using Mstock
- ₹0 Brokerage for Lifetime
- Low-interest e-margin facility
Cons of Using Mstock
- Limited track record
- Limited investment options
- Slow and laggy interface
- Regular app glitches
- Account opening fees is huge
Head-to-Head Comparison
| Feature | Zerodha | Upstox | Dhan | Groww | 5paisa | Mstock |
|---|---|---|---|---|---|---|
| Brokerage type | Discount broker | Discount broker | Discount broker | Discount broker | Discount broker | Discount broker |
| Equity delivery brokerage | Free | Rs. 20 per trade | Rs. 20 per trade | Rs. 20 per trade | Rs. 20 per trade | Rs. 20 per trade |
| Intraday brokerage | 0.03% or Rs. 20, whichever is lower | 0.03% or Rs. 20, whichever is lower | 0.03% or Rs. 20, whichever is lower | 0.03% or Rs. 20, whichever is lower | 0.03% or Rs. 20, whichever is lower | 0.03% or Rs. 20, whichever is lower |
| F&O brokerage | Rs. 20 per trade | Rs. 20 per trade | Rs. 20 per trade | Rs. 20 per trade | Rs. 20 per trade | Rs. 20 per trade |
| Mutual fund brokerage | Free | Rs. 50 per order | Rs. 50 per order | Rs. 50 per order | Rs. 50 per order | Rs. 50 per order |
| Trading platforms | Kite, Pi | Nest, Pro | Web, Mobile | Web, Mobile | Web, Mobile | Web, Mobile |
| Other features | Coin (direct mutual fund investment platform), Zerodha Varsity (education platform), Streak (algo trading platform) | Upstox Pro (advanced trading platform), Upstox Mutual Funds (direct mutual fund investment platform) | Tribe (community platform), Dhan Academy (education platform), Margin Assist (margin funding platform) | Groww Prime (subscription service for unlimited intraday trading and F&O trading at Rs. 99 per month), Groww Academy (education platform) | Option Chain Analysis, Scanner, Heatmap, Backtesting, and other advanced charting tools | Option Chain Analysis, Scanner, Heatmap, Backtesting, and other advanced charting tools |
FAQs
What’s the best app to buy stocks?
User-friendly: Groww
Features: Upstox
Security: Zerodha
Stock trading apps with zero commissions
For trading in stocks, Mstock offers zero commissions.
Can I use multiple stock trading apps simultaneously?
Yes, you can use multiple apps to diversify your investments and take advantage of different features.
Do I need a significant amount of capital to start investing in stocks through apps?
No, many apps allow you to start with a small investment, making it accessible to a wide range of investors.
