5 Best Trading Platforms for Beginners 2023
- Updated on :
- September 25, 2023
- 7:12 am
As an investor looking to dive deeper into the world of stock trading and hedging, knowing where to begin can be difficult. The financial markets are vast and dynamic, offering a multitude of investment opportunities and strategies. Whether you’re an aspiring day trader, a long-term investor, or someone seeking to protect their investments through hedging, the choices can be overwhelming. That’s why we’re here to guide you in finding the best beginner trading apps, making your foray into the world of trading more accessible and rewarding
The complexity is where the best beginner trading platforms come to the rescue. These digital tools provide a gateway to the financial markets, offering a user-friendly interface to buy, sell, and manage your investments. Other than that, they provide an array of other benefits, such as:
- Accessibility: Trading platforms provide convenient access to financial markets from anywhere with an internet connection.
- Information and Research: Many trading platforms offer a wealth of research tools, market analysis, and real-time data that can help you make informed trading decisions.
- Diverse Asset Classes: Trading platforms typically support various asset classes, including stocks, bonds, commodities, forex, and derivatives.
- Risk Management: These platforms often come equipped with risk management tools like stop-loss orders and limit orders, helping you mitigate potential losses and secure profits.
- Demo Accounts: For beginners, trading platforms often offer demo or paper trading accounts, allowing you to practise trading strategies and gain experience without risking real money.
- Cost Efficiency: Online trading platforms usually offer competitive fees and commissions compared to traditional brokerage services.
- Educational Resources: Many platforms provide educational resources, including tutorials, webinars, and courses, to help you enhance your trading knowledge and skills.
- Real-Time Monitoring: You can monitor your portfolio and track market movements in real-time, allowing for quick adjustments to your trading positions as market conditions change.
- Global Markets: Online trading platforms often provide access to global markets, enabling you to diversify your investments across different regions and industries.
- Security: Reputable trading platforms prioritise security, implementing robust encryption and authentication measures to protect your financial information and transactions.
- Regulation: Many trading platforms are regulated by financial authorities, offering an added layer of security and transparency for investors.
The 5 Best Trading Platforms in India, 2023
If you are a beginner at trading and looking for a reliable platform that can help you invest on a daily basis, then look no further than these five options:
- Zerodha
A discount broker that offers one of the lowest brokerage fees in India. Its trading platform is known for its user-friendly interface and powerful charting tools. Zerodha also offers a variety of educational resources for beginners.
- Zero brokerage for equity investments: Zerodha offers zero brokerage for equity investments, which means that you do not have to pay any fees when you buy or sell stocks.
- Retail and institutional broking: Zerodha offers both retail and institutional broking services. Retail broking is for individual investors, while institutional broking is for businesses and other organisations.
- Currencies and commodities trading: Zerodha also offers trading in currencies and commodities. This allows you to trade in assets such as forex, gold, and silver.
- Different trading platforms: Zerodha offers a variety of trading platforms, including Kite, a web-based platform, and Zerodha Pi, a mobile app.
- Educational resources: Zerodha also offers a variety of educational resources, such as tutorials, articles, and videos, to help you learn about trading and investing.
2. Upstox Pro
Another discount broker that offers low brokerage fees and a user-friendly platform. Its trading platform, Upstox Pro, is more advanced than Kite and offers a wider range of features, such as algorithmic trading and margin trading.
- Low brokerage: Upstox offers low brokerage rates for a variety of trading instruments. For example, the brokerage for equity delivery trades is ₹20 per trade.
- Trading platforms: Upstox offers a variety of trading platforms, including Upstox Pro, a web-based platform, and Upstox Mobile, a mobile app.
- Educational resources: Upstox offers a variety of educational resources, such as tutorials, articles, and videos, to help you learn about trading and investing.
- Research reports: Upstox also offers research reports from independent analysts to help you make informed investment decisions.
- Margin trading: Upstox offers margin trading, which allows you to borrow money from the broker to trade more than you have in your account.
- SIPs: Upstox also offers SIPs, which allow you to invest a fixed amount of money in a mutual fund on a regular basis.
3. 5paisa
A popular trading platform that offers a variety of investment options, including stocks, derivatives, and mutual funds. It is known for its low brokerage fees and its educational resources for beginners.
- Zero brokerage on equity delivery trades up to ₹20 lakhs. This means that you can trade stocks without paying any brokerage fees, up to a certain limit.
- Flat ₹10 brokerage on equity intraday trades. This is a low brokerage rate that is ideal for traders who make frequent trades.
- User-friendly UI that offers a variety of features, such as charting, technical analysis, and research.
- Margin funding at 0.06% per day. This allows you to borrow money from 5paisa to trade more than you have in your account.
- In-depth research on 4000+ stocks. 5paisa offers its clients in-depth research on over 4000 stocks, including fundamentals, technical analysis, and ratings.
- Advanced charting with a wide suite of powerful drawing tools. 5paisa’s charting platform allows you to visualise market data and make informed trading decisions.
- Free demat and trading account. 5paisa offers its clients a free demat and trading account, which is required to trade in stocks and other securities.
- 24/7 customer support. 5paisa offers its clients 24/7 customer support, so you can get help with any trading or investment questions you may have.
4. Angel Broking
A full-service broker that offers a wider range of services than discount brokers. It offers research reports, margin trading, and other features that may be more suitable for experienced traders.
- Free demat account with zero brokerage on stock investing for the first 30 days. This means that you can buy and sell stocks without paying any brokerage charges for the first 30 days after opening your account.
- Zero brokerage on equity delivery trades. This means that you can buy and sell shares on the cash segment without paying any brokerage charges.
- Zero charge for account maintenance in the first year. This means that you will not be charged any account maintenance fees for the first year after opening your account.
- Investment in stocks, IPOS, futures, mutual funds, commodities, US stocksYou can invest in a variety of financial products through Angel One, including stocks, IPOs, futures, mutual funds, commodities, and US stocks.
- Knowledge centre. Angel One also offers a knowledge centre with resources to help you learn about investing.
- Specialised Tools: The Angel One Trade for Pro traders and Angel One SuperApp for convenience. The Angel One Trade app is designed for experienced traders who are experts at trading stocks and other financial products. The Angel One SuperApp is a more user-friendly app that is suitable for beginners and investors who want to track their investments.
5. HDFC Securities
Another full-service broker that offers a wide range of services. It is known for its strong customer support and its educational resources.
- Demat account: A demat account is a type of account that holds your shares and securities in electronic form. HDFC Securities offers a free demat account with zero brokerage on stock investing.
- Stock trading: You can trade in stocks, futures, and options on HDFC Securities’ platform. The brokerage charges are very competitive, starting at Rs. 20 per intraday trade.
- IPO subscription: You can apply for IPOs through HDFC Securities’ platform. There are no charges for pre-applying to IPOs.
- Mutual funds: You can invest in mutual funds through HDFC Securities’ platform. There are no charges for buying or selling mutual funds.
- Margin trading: Margin trading allows you to borrow money from HDFC Securities to trade in stocks. This can help you to increase your profits, but it also increases your risk.
- Learning resources: HDFC Securities offers a variety of research reports and analysis to help you make informed investment decisions.
Conclusion
According to a report by the Securities and Exchange Board of India (SEBI), the number of active trading accounts in India increased from 2.6 million in 2017 to 9.1 million in 2021. This represents a growth of over 250% in just four years, and it is only going up. As new investors enter the market, it is important for them to find user-friendly and convenient trading apps that encourage them to trade wisely and regularly. Accordingly, we can all together enable the economic growth of the nation and its investors.
AMIT ARORA
