The fast dispersion of smartphones as well as the availability of low-cost plans, has made these smartphones an amazing platform for investors and traders to trade in the stock market. With the accessibility of a myriad of trading apps in the market, it is important to choose a seamless, fast, profitable, and best stock trading app. With new updates and features, the stock trading apps make sure that you get higher returns. One amazing trading app available is Topstep. Heaps of traders have been using this service and are raving about it! (Get a Topstep promo code from ShipTheDeal to get started!)
In this article, we will provide you with reviews of the best stock trading apps and their exciting features that help millions of people make their own spot in the stock market.
What is mobile trading?
If you think mobile trading is a unique and novel term, then it is not. Mobile trading is simply stock trading via your smartphone. Almost all stockbrokers in the present times have their dedicated trading apps, which makes trading in stocks, IPOs, mutual fundseasy for investors and traders. Trading through mobile phones was sanctioned by the Securities and Exchange Board of India (SEBI) more than a decade ago, but its adoption was barely visible in those days as investors preferred their typical brokers.
What are the chief benefits of trading apps?
- Ease of usage: Mobile trading apps are undoubtedly very lucid to use. You can use it from anywhere, and you can access various features at your fingertips. Moreover, orders can be placed effortlessly and quickly as well. Mobile apps have greater ease of use compared to desktop terminals.
- Live market updates and portfolio review: You can check out market data and news related to indices, stocks, commodities, etc., at all times. Moreover, you can also keep track of your portfolio, its performance and underlying assets so far.
- Notifications: One of the winning and top features of trading apps is its notification feature. You cannot stay fixated on your mobile at all times. So, these apps provide you with notifications related to market trends, the latest news and events, suggestions, and much more.
- News updates: You can easily track the latest news, live updates, and new developments related to the stocks you have invested in.
- Research reports: You can handy up-to-date research reports and insights from already established industry experts.
- Charts and analysis: Historical analysis and charts are the most functional features. You can look over previous data, indices, stock prices, and the apps also provide analytical tools for the same.
Essential features to look out for in the best stock trading app
- Speed: The chief reason for using a trading app is to assist you in trading. Speed is the essential essence whether you are doing intraday trading or any other sort of trading. So, make sure that the app you choose is fast and reliable.
- Ease of use: Your trading app must allow you to access most of the complex trades but with a simple interface. If you choose an app that is not user-friendly, then you might have problems navigating through it properly and making the most out of the excellent features.
- Customization: A good trading app must be amenable to customization. The app must allow you to customize in your own way and subsequently analyse the stocks. Hence, an efficient and convenient trading app is all you need.
- Market data availability: Having accessibility to the market data can either make your trading strategy or break it. Concerning the market, you are trading in, for making good strategies and implementing them, you need as many market reports as possible. Market data are trading related data such as volumes, price, bide quotes, ask quotes, etc. Market data help you a great deal in deciding proper market strategies.
- Trading alerts: Receiving notifications and alerts is a crucial feature for a trading app. Constant monitoring of market trends is not possible. Through notifications and alerts, you don’t miss anything important happening in the market.
Hence, these are the chief features you must look out for a while choosing a trading app. For a stock trader, a stock trading app is similar to a walking stick for a blind person. The right trading app leads you the right way, opening the doors to high profits and returns.
Top 5 Stock Trading Apps for Indian Traders
- MoneyControl App
As of 2022, MoneyControl is considered one of the best financial apps. This app is contributed towards keeping its customers updated with Indian as well as Global stock market reports and data. Customers of the MoneyControl app are provided with assets on NSE, BSE, NCDEX, and MCX exchanges. Hence, through this feature, they can lucidly track Options, Indices (Nifty/Sensex), Stocks, Commodities, Mutual Funds, Currencies, and Future.
The app has a single option for navigating through indices, stocks, mutual funds, news, commoditiesand also provides news to the users about business, stocks, markets, and economy. Moreover, sometimes it also provides interviews of senior management. To enhance its performance, the app also provides “Text to Speech” feature.
This app is ideal for professionals, and it is exceptionally popular. You get live stock market updates, fundamental and technical analysis reports, stock market tips, and other exciting tools. So, if you are seeking to learn stock trading, then this app with a simple interface is ideal for both beginners and experts.
- StockEdge App
This is the best Indian stock trading app. It is cent percent dedicated to research and analytics. StockEdge, a stock trading app, empowers its users to conduct their own research based upon their wishes and inferences. The app provides DII and FII/ FPI Cash and Derivatives with precise historical data visualizations.
Moreover, this app also excels in providing stock market updates in real-time. It also furnishes daily updates section for refined major market tracking with News, BSE and NSE corporate announcements, corporate actions, future events, market indices NIFTY, and many other such valuable tools to emancipate its users.
A Stock Research section in the app provides customers with industries in a sector, sector list, and also companies in an industry or sector. The user-friendly scanners are built in accordance with customers’ preferences. Not just that, this app also introduces new knowledge and information for enhanced learning of the users.
If you are an investor who has invested in the energy sector, then you can even track power and energy stocks separately.
StockEdge has the best stock scans among all the stock trading apps. When you use StockEdge scans for scanning stocks then investing in such shares helps investors determine if they are safe for the longterm. Additionally, users will be able to calculate stocks of companies according to their turnovers, market capitalizations, solvency, and other important characteristics. Additionally, the app offers technical analysis of Option Strikes Scans, Candlestick patterns, Derivatives scans, Open Interest, Aggressive Longs & Shorts, as well as some others.
Traders can go through the portfolio of over three thousand investors and subsequently manage their own accordingly. Investors of the highest caliber maintain a well-rounded portfolio that can inspire you to do your best. Therefore, StockEdgeserves as the best trading app for both Android and iPhone. So, download StockEdge and become one of the empowered and complacent users of the app.
- Investing.com App
The Investing.com app is one of the sought-after best stock trading app for android. With this app you can track all important financial events via a Calendar and it also provides real-time data. The users can track global stocks, indices, bonds, currencies, commodities, and interest rates from all around the world. Moreover, this app also notifies its customers regarding news report analysis, business deal analysis, economic event, and financial instrument. For intraday traders, it provides efficient intraday indicators. The app is highly praised for its high performance and accuracy.
If you follow the global indices and trade in the international markets, then Investing.com is a must app. While this app is famous for its abundant resources on economies, stock markets, and businesses, it also has a rich collection of technical analysis tools. Hence, this makes an ideal app for intraday traders. With this app, you can not only find out about the most recent market updates, but you can also learn more about the hidden stories of countries and businesses around the world. Users of this app are increasing at a rapid pace, and the number of users is growing every minute.
- IIFL Markets App
This is the best functioning app and has been decorated with the ‘Best Mobile App’ award by Zee Business Awards. It provides you the latest buzz of the financial and business world. IIFL Markets app provides you with concerned details for Index, Equity, and Currency. Moreover, it also provides you with comprehensive details of the Futures.
An important feature of this app is the ability to get expert opinions on a wide range of financial issues.Customers can swipe whenever they are in doubt about financial matters, and IIFL experts will provide their opinion.The app provides “Price Alert” system for Commodity, Equity, and Currency segments. The users are also supplied with the option of forming a watchlist according to their requirements and choice.
This app also provides Risk Management techniques for investors and traders. It also has the best advisory and research division. With this app, you will get access to all the major indexes, BSE, NSE, NCDEX, MCX, and others. In addition to these major indexes, all the sub-indices can also be accessed such as BSE Mid Cap. Nonetheless, the users are also equipped with analytical tools, tips, and suggestions that give an edge to their trading.
- Mint App
It is one of the fastest stock market apps in this country. When you download this app, you get a fully customized newsfeed. There are multiple customizable options like Podcasts, primers, plain facts, long stories, and the latest news updates. The user is kept up-to-date on trends in the economy and stock market through a section that keeps displaying all the trending news.
If you are reading any important news or events, then you can bookmark them and read it again in the future. There are plenty of research reports, market policies, annual reports, and other resources for you to study.Mint is also a valuable source of live share price and industry information, as Mint provides access to a variety of share market data.
Information about upcoming and existing IPOs is provided.Mint App is one of the best IPO picks for people who are interested in investing in IPOs.This application lets you access corporate reports, analyses, and other resources on your mobile device.You can also opt for the Premium section of the app, which provides access to the app’s exclusive content. The Mint app adds that zing to financial stories that grab the attention of readers.
It is extremely crucial for a visionary trader and investor to look out and choose the best stock trading app. For earning maximum returns, you need the right analytical tools and scans that let you choose the right stock. Hopefully, this list has given you a perfect overview of the best stock market trading apps.