Overview of Trading Platforms in India
Gone are the days when traders call the stockbroker to buy/sell the orders. Now with the help of the best online trading platform in India they effectively analyze the market price at their own ends and buy/sell the shares on one click.
Technology has revolutionized every sector, and finance is the one that has revolutionized the most. Technology has made it very easy for the traders and investors to check the market status, news, charts, use tools to minimize the risk of losing money and so forth. The online trading platform is the best for the traders who quickly buy/sell orders. This software is platform independent which means it can run on all operating systems. You can even download on your phone and check the market status anytime and anywhere.
Types of Online Trading Platforms in India
In India, the traders can trade in the market via three platforms that we have mentioned below-
Desktop Based Trading Platforms
Almost every trading company has developed online trading platforms for the desktop users. It is one of the most efficient and fastest trading platforms. Traders can easily download the software from the official sites of the stock brokers. This platform is an ideal option for traders who do intraday trading.
Web Based Trading Platforms
If you opt for the web online trading platform you don’t need to install the software. By simply clicking on the stockbroker site via the web browser you can analyze the market status and place the orders. Web trading platforms are accessible from both desktop and mobile. Compared to desktop web trading platforms are relatively slow because it depends on the internet speed.
Mobile App Based Trading Platform
One of the most convenient and the best trading platforms that traders can buy/sell orders in a few tabs is mobile trading platforms. You can download the trading platforms from your Google play store and can access it even if your mobile data is off.
If you ask us which is the best trading platform, then we will recommend your desktop. Because user-interface, convenience, easiness of placing orders make it an ideal online trading platform.
Best Trading Platform in India
So, if you are a trader and want to know which are the best trading platforms in India, then your search ends here. Below we have run down the names of the top & best trading platforms that can make your investment in the stock market hassle-free.
ICICI Direct Trade Racer
ICICI Direct Trade Racer is designed and developed by the most renowned and reputed stockbroker ICICI Direct. It is a terminal-based online trading platform which means you need to download to access it. It offers you online trading tips like live stream quotes, multiple watchlists, trend scanner, analytic view, charts, and some advanced features like live screener, heat map and you can access its fundamental and technical calls through “iClick2Gain”.
Pros and Cons of ICICI Direct Trade Racer
- The interface is highly customizable.
- By simply clicking on the icon bar you can access the frequency of widgets.
- The subscription rate of this platform is Rs 75 and it changes if you increase the transaction rate.
- The requirement of the bandwidth is high.
IIFL Trader Terminal:
There are plenty of online trading platforms in the market but IIFL is one of the best online trading platforms in India. It comes with a variety of advanced tools that make your trading process hassle-free. A world-class user-interface, quick access to the shares and fastest execution of the orders make this trading app best. It has an advanced technology-based market watch, charting options, and technical analysis options. It also updates you about the market position via live research. By simply click on the icon bar you can access depository, MTM profit/loss statement and ledger.
Pros and Cons IIFL Trader Terminal
- Highly customizable user-interface.
- Instant order confirmation.
- For terminal activation, traders have to submit the income proof.
- It is not for iOS users.
Sharekhan Trade Tiger:
If you are looking for the best charting tool then you should opt for the trade tiger. You can install this software at your desktop or laptop to access it. This trading platform offers you live updates of the market, allowing you trade at multiple exchanges BSE and NSE. It comes with some advanced features like premium calculator, chartbook, heat map, span calculator, and live market scanner. You can also do graph studies like average and MACD via this trading platform.
Pros and Cons Sharekhan Trade Tiger
- This platform is integrated with the Sharekhan customer support service which is round the clock available to help you.
- It offers you more than 30 trading techniques and strategies.
- It needs high configuration from the users to access it.
Motilal Oswal Trade
Motilal Oswal Trade is one of the best trading platforms in India. It has an impressive Risk-Return chart, with more than 45 technical indicators that let you know right time to get profit from your trade. Here you can access more than 3000 research reports that have taken this trading platform out of the crowd. The instant order confirmation and auto buy/sell features have made trading processes fast and effective.
Pros and Cons of Motilal Oswal Trade
- You can access the portfolio health check to restructure the orders.
- You can create one watchlist for different trading segments like equity, derivatives commodities and currencies.
- It needs high configuration from the users to access it.
Angel Broking Speed Pro
Another best trading platform in India that is based on desktop application is Angel Broking Speed Pro. It comes with interactive features like a customizable toolbar, live update about the market, multiple desktop options, historical chart, a heat map, and intraday.
Pros and Cons of Angel Broking Speed Pro
- Enables users to access account information like portfolio, trade report and back-office report.
- Shortcut keys are available to quick access.
- No new features are added so far.
When It comes to the best online trading platform in India Zerodha Kite name comes at the first. Because it has so many things to serve traders like more than 100 technical indicators and 20 plus drawing tools, advanced charting patterns, 5 market watchlists are available and each can contain 20 scripts and advanced algorithm-based brokerage calculators.
Pros & Cons of Zerodha Kite
- The order can be placed in one click.
- Remotely accessible trading platform.
- A Backtesting strategy is not possible.
Up Stock Pro
Another advanced technology-based web trading platform is Up Stok pro. It enables traders to place the order directly from the chart. In addition, it provides historical data of 10 years. You can easily restructure your portfolio and set multiple watchlists.
Pros & Cons of Up Stock Pro
- Highly responsive and customizable interface.
- A charting option is also available on this platform.
- Traders cannot invest in the Mutual fund via this platform.
5Paisa Trader Terminal
5Paisa Trader Terminal is a desktop-based trading tool that offers multiple watchlists each adding 100 scripts. The intraday charts are available for 30 days, and historical data for more than 5 years. You can also place advanced orders like AMO and cover order.
Pros and Cons of 5Paisa Trader Terminal
- It allows you to invest in mutual funds.
- Highly customizable interface.
- You have to download it to access this platform.
Another the best online trading platform in India is based on the desktop is FYERS One. One of the significant features of this platform is screener which effectively scans and sets the trading opportunities. The portfolio simulation feature allows us to enhance the performance of the portfolio and also it generates an End of the Day report which gives an idea of how to trade the next day.
Pros & Cons of FYERS One
- Charting option is available
- Come with an intraday recovery module.
- Requires system configuration.
This web trading platform is developed by the NSE India. It comes with plus 100 technical indicators, MarketWatch, web notification and instant order configuration. Tgramarllyhe interactive feature of this platform is plus 15 charts are available which help traders to analyze price effectively.
Pros & Cons of NSE Now
- Unlike other trading platforms, it is more secure and reliable.
- It can run at low internet speed.
- A high system configuration is required to access this platform.