Which Trading Platform Is Best – My first online business experience was through Sharekhan’s “Classic” internet business application. Many times, some of the businesses that I used to make a profit turned into a loss just because of the delay in the transaction. It was only when I switched to TradeTiger software that I realized the importance of using a good trading platform.. Then I switched to Zerodha’s KITE platform because of its simplicity and loaded features.
So I thought of compiling a list of the best business platforms in India for 2022 in this article which you may find useful. It includes details about trading software offered by some of the leading stock brokers in India and information on their features.
Which Trading Platform Is Best
Before that, let me quickly introduce you to the types of online business applications available in India. If you already know this, you can go to the next section.
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In India, online trading in the stock market can be done through 3 exchanges. Every major stock broker has developed a platform for these three types of exchanges.
Knowing the above, I will mostly cover desktop and web platforms in this post. I will discuss the mobile platform in a separate article. (Read: Best Mobile Deals in India)
KITE is the online shopping platform for web and mobile from India’s No.1 discount retailer, Zerodha. Previously, they were offering a third party software called NEST from Omnesys technology.
KITE is developed in-house from scratch by the Zerodha team and if there is any problem, they can solve it quickly.
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The reason why it is at the top of the list is that it is very light and consumes less bandwidth (less than 0.5kbps) compared to platforms from other vendors.
I like the minimal app it offers. The screen is not filled with many things and bright colors that are not necessary.
Zerodha offers dealers zero on investment and Rs 20/order execution for non-delivery trades (intraday and F&O). I am writing detailed information about Zerodha and their offerings.
Before we proceed, let’s see how much savings an investor and trader can make by opening an account with Zerodha.
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Due to the great economy and efficiency of the trading platform (KITE) offered by Zerodha, they were able to surpass the likes of ICICI Direct and Sharekhan to become the largest stock broker in India within 8 years.
If you are planning to invest Rs 10 Lakh, with a brokerage of 0.55% (ICICIDirect charges this much!), you have to shell out Rs5, 500 in the brokerage itself where you pay nil in the case of Zerodha (Zerodha investors stock is free).
Let us assume that you buy Rs 10lakh and sell 10lakh shares every day. This means in about 20 business days of the month it will be 400 lakhs.
Now Zerodha charges Rs 20/day trade. At Zerodha, Brokerage does not depend on transaction value. For every order they charge Rs20 irrespective of transaction value.
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So every day it will be 40 rupees (20 rupees for buying and 20 for selling) and every month it will be 20 * 40 rupees = 800 rupees.
Because of these savings and an advanced but easy-to-use platform, I recommend opening an account with Zerodha. I have been using it since 2012.
You can open an account at Zerodha within 15 minutes if your mobile is linked to your Aadhar number. Check out the complete Step by Step guide on how to unlock Zerodha account with screenshots
Upstox Pro is a web-based and mobile trading platform from Upstox, which is the second largest broker after Zerodha. They are known as RKSV Securities.
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Charts can be set from 1 minute to 1 month. It also comes with over 10 charting tools and over 105 symbols.
One of the interesting features of Upstox Pro is that you can place an order directly in the chart itself by right clicking on the chart. This really helps to avoid silly mistakes in placing orders and allows us to focus on the chart instead of the symbols.
It also has a nice feature called drag and drop. Just hold the name of the piece on the left column and drag it to the column window in the middle. Now the chart window will show the chart of this text.
It also provides historical chart data for 10 years. So if you are testing any of your trading strategies, it can help to see how it has performed historically.
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Upstox now waives the account opening fee. You can open your account for free. Use the button below to take advantage of the offer.
Angel Speed they their #-IndianaaV. It is a desktop based application so it needs to be installed by downloading an executable file
Earlier in 2019, Angel Broking used to charge brokers on a percentage basis. But now they have also followed the Zerodha system of discount retailers.
You can use the link below to open an account with Angel Broking at no charge. (Free account opening of Rs300 has been cancelled). Also, you get a demat account with zero AMC fees for the first year.
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ICICI Direct Trade Racer is a dynamic platform from India’s largest stock broker, ICICI Direct. They are the brokerage arm of ICICI Bank and have played an important role in promoting online trading in stock markets in India.
Also, Racer Trader is a trading based platform so you need to install it before using. It can be downloaded from their website.
This software has a feature called a scanner feature: It is basically a scanner that helps the business find the text of the relevant content according to the proposed conditions.
A highly configurable processor. One can choose his favorite colors, grids and layouts. He came up with three different views, namely, “Analytical View, Derivative View and Equity View”. I think the names are self-explanatory and you can understand what they mean.
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5Paisa is a discount broker promoted by IIFL (Infoline Infoline). The trading platform is called ‘Trader Terminal’ which provides the best user experience.
FYERS ONE is a desktop trading platform from Bengaluru-based discount broker FYERS. Interestingly, FYERS has prioritized their business platform from the start.
The screen feature is the best part I like about their software. It can check and set good trading opportunities. For example, you can look at a piece that has a higher percentage than the previous day and so on.
FYERS charge Rs 20/order execution similar to Zerodha but they entered the industry a bit late. Check out the full FYERS review here at FYERS Review.
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TradeTiger from Sharekhan is my favorite tool, only because I am used to it for a long time and I find it difficult to switch to Zerodha Kite. So now I use TradeTiger to schedule but place orders with KITE to save for brokers.
However, you need to install the software in your desktop or laptop before you can start using them. The .exe file can be downloaded from the Sharekhan website.
Motial Oswal is a leading stock broker in India with over 10 lakh customers. Its desktop trading software comes with many advanced features.
Unlike the other platforms I have listed above which are available through different stock brokers, NOW (Notes Online) is a web-based trading platform developed by the NSE stock market.
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You don’t need to install any software and you can access it directly from the main browsers like Chrome, Firefox or Internet Explorer.
The best part is, since it is promoted by NSE, NOW’s servers are closer to NSE and hence prices are updated a little faster compared to other brokers’ trading platforms.
Some of the prominent brokers like Zerodha and Upstox have been offering NSE NOW to their clients by getting a license from NSE.
After developing their internal platform, they have now stopped. However, some brokers like Tradejini etc. are still offering it to their customers.
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About 10 years ago, we used to pay for data and buy graphic software like Amibroker, Metatraders and others. All of these were very expensive. Thanks to the great competition between retailers and the advancement of technology, entrepreneurs get all this for free.
Online trading is all about designing a trading strategy and executing it perfectly. All of the above platforms are top of the class, you just need to choose the one that has all the technical analysis tools that are in your strategy.
I have tried to compile a list of some of the best trading platforms in India. If you think this list needs to be revised by adding or removing any platforms, please let me know by commenting.
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