App-etite for Wealth: Exploring India's Finest Investment Platforms
- Updated on :
- September 14, 2023
- 11:32 am
In the past few years, the rise of the internet and smartphones in India, along with initiatives to boost the Indian digital economy, have led to the surge of investment apps in India. The Fintech industry in India has also spawned many investment app unicorns and continues to do so.
Investing is a great way to grow your money over time. However, with so many investment apps flooding the online investment market, it can be hard to know which one is right for you. Almost every bank in India has its own investment app, but they require you to open a dematerialization account, which can be a hassle. Online investment apps allow you to download the app one minute and start trading the next, and that too within a few simple clicks.
We are here to discuss 5 of the best investment apps in India for every investor. Whether you’re a beginner or an experienced investor, there’s an investment app on this list that’s perfect for you and your financial goals. So, read on to learn more about these apps, their features, fees, and how they can help you trade online effortlessly.
What Makes A Good Investment App?
Before we embark on the journey to find the best investment apps in India, it is important to know what constitutes the perfect investment app in the first place. A good investment app should meet several criteria to provide users with a seamless and effective investment experience. Here are some key criteria to consider:
- User-Friendly Interface: The app should have an intuitive and user-friendly interface that makes it easy for both beginners and experienced investors to navigate and use its features.
- Functionality: The app should offer a wide range of functionalities, including buying and selling various assets like stocks, bonds, ETFs, mutual funds, and more. It should also allow for portfolio tracking, order placement, and research.
- Security: Security is paramount in investment apps. The app should implement strong security measures such as two-factor authentication (2FA), biometric authentication (fingerprint or Face ID), and data encryption to protect users’ sensitive financial information.
- Real-Time Data: The app should provide real-time market data, including stock prices, market indices, and other relevant information, to help users make informed investment decisions.
- Research and Analysis Tools: Offering research tools like financial news, analyst reports, historical data, and customizable charts can assist investors in conducting thorough analysis before making investment choices.
- Educational Resources: Providing educational content, such as articles, tutorials, videos, and webinars, can help users, especially beginners, understand investment concepts and strategies.
- Portfolio Tracking: The app should allow users to track their investment portfolios, view performance metrics, and assess their overall asset allocation.
- Order Execution: Efficient order execution is crucial. The app should facilitate quick and accurate order placement, as well as provide order confirmation and status updates.
- Costs and Fees: Transparent information about trading fees, commissions, and any other charges associated with using the app should be readily available.
- Regulatory Compliance: Ensure that the app adheres to relevant financial regulations and standards to ensure the safety of users’ investments.
The 5 Best Investment Apps in India, as of 2023
According to data from August, 2023,
1. Zerodha Kite
Zerodha is the largest discount broker in India and offers a wide range of investment products, including stocks, mutual funds, commodities, and currencies. It offers two trading apps- Kite and Coin, among which, the former is more popular for its user-friendly interface, low trading fees, and margin trading.
Kite is available as an Android app. It allows you to enjoy a user-friendly interface, swift performance, and minimal resource usage for trading and investments. The app levies ₹0 brokerage for investments and ₹20 flat fee for future and options trading. Its other compelling features include high-tech UI, faster speed, modern design, rich reports, TradingView charts, instant updates, multi-marketwatch views, and more.
2. Groww
Groww is a popular app for investing in mutual funds. The app offers a wide variety of funds to choose from, as well as features like SIPs, goal-based investing, and direct mutual fund investments.
Groww offers swift and secure UPI payments. On the app, you can explore live share prices, technical charts, and analysis of NSE Nifty 50 and BSE Sensex. Its paperless onboarding, commission-free mutual funds, and simplified stock trading allows for easy sign-up, in-app KYC, and robust stock analysis.
3. Upstox
Upstox is another popular app for trading stocks and mutual funds in the Indian stock market. The app offers a variety of features, including margin trading, live market data, and research reports. It is the first trading app in India to reach 1 crore+ users. On the app, you can open a demat and trading account for stocks, mutual funds, options, futures, and more.
The pro mode for experienced investors allows for advanced trading, including option analysis, charting, and ready-made strategies. The investor mode for beginners is for simplified investing in stocks and other preliminary financial instruments. Moreover, the app charges zero demat account maintenance and low brokerage, providing instant withdrawals whenever you need them.
4. ETMoney
This app is The Economic Times, a popular Indian financial newspaper providing business news, market updates, and analysis on economics, industries, and global markets. ETMoney is an app for investing in mutual funds, stocks, and insurance. The app offers a variety of features, including research reports, market insights, and a personal financial management dashboard.
ETMoney allows you to invest in zero-commission direct mutual funds, fixed deposits, and even the National Pension Scheme and other insurance plans. On the app, you can enjoy easy tracking of your assets, expert recommendations, tax-saving options, and comprehensive financial planning. It is truly a one-stop solution for investments and money management.
5. Angel One
Established in 1996, Angel One stands as one of India’s pioneering retail brokerage firms with a long-standing history. Its flagship trading app, Angel One, is a full-service stockbroking platform that offers a variety of investment products, including stocks, mutual funds, and IPOs.
Angel One’s Super App empowers you with seamless trading, portfolio analysis, and direct chart trading. You can also invest in stocks, both Indian and from the US, mutual funds, IPOs, and more. Angel One levies zero brokerage on investing, offers low F&O rates, IPO pre-application,, and personalised trading services. You can also simplify your mutual funds investment, track returns, and benefit from expert insights on the app.
| App | Brokerage Fee |
|---|---|
|
Zerodha |
0% |
|
Groww |
0.05% of trade volume |
|
Upstox |
₹20 per order or 2.5% on trading volume, whichever is lower |
|
ETMoney |
0% |
|
Angel One |
₹20 per order or 0.25% of turnover, whichever is lower |
Conclusion
The proliferation of investment apps in India, catalysed by digital advancements, is revolutionising wealth management and creation. The 5 apps outlined above are democratising investing, making it accessible and user-centric. Seamlessly bridging technology and finance, these investment platforms are paving the way for prosperous investments across India, emboldening both beginners and seasoned traders on their financial journeys.
AMIT ARORA
