Best Web Based Trading Platform – My first e-commerce experience was through Sharekhan’s ‘Classic’ e-commerce software. Many times some of the trades that I had profited from turned into losses just because of the slow interface. It wasn’t until I switched to their TradeTiger software that I realized the importance of using good trading platforms. Later I switched to Zerodha KITE platform because of its simplicity and loaded features.
So I have decided to create a list of the best trading platforms in India for 2022 in this article which you may find useful. It includes detailed information about this trading software offered by some of the leading stock brokers in India and information about their features.
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Before that, let me quickly introduce you to the different types of online stock trading software available in India. If you already know about it, you can skip to the next section.
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Online stock market trading in India is mainly through 3 interfaces. Every major broker makes platforms for these three types of interface.
Knowing the above, in this post I will talk mainly about desktop and web platforms. I will talk about the mobile platform in a separate article. (Read: Best Mobile Shopping Apps in India)
KITE is a web and mobile e-commerce platform from India’s #1 discount broker Zerodha. They previously released a third-party software called NEST, which is based on Omnesys technology.
KITE is built from the ground up by the Zerodha team, and if any issues arise, they will be able to resolve them quickly.
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The reason it is at the top of the list is that it is very lightweight and uses less bandwidth (less than 0.5 kbps) compared to other brokers’ platforms.
I love the minimalistic interface it provides. The screen isn’t cluttered with too many features with bright background colors that aren’t really needed.
Zerodha offers zero investment brokerage and Rs 20 per executed order for non-delivery trades (intraday and F&O). I have written a detailed review of Zerodha and their offerings.
Before going further, let’s see how much an investor and trader will save by opening an account with Zerodha.
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Because of the huge savings and the quality of the trading platform (KITE) provided by Zerodha, they can beat ICICI Direct and Sharekhan to become India’s largest broker within 8 years.
If you plan to invest 10 lakhs at a brokerage rate of 0.55% (ICICIDirect charges that much!), you have to give 5,500 to the brokerage itself, and if it’s Zerodha, you pay zero (Zerodha is free to invest. )
Suppose you buy 10 lakh rupees every day and sell 10 lakh shares. This means that in about 20 trading days of a month, it will be 400 lakh.
Zerodha now charges Rs 20 per intraday trade. At Zerodha, brokerage services are independent of business value. They charge Rs 20 per order irrespective of business value.
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So for a day it will be 40 rupees (20 rupees for buying and 20 for selling) and for every month it will be 20 rupees* 40 = 800 rupees.
Because of these savings and a comprehensive yet easy-to-use platform, I recommend opening an account with Zerodha. I have been using it since 2012.
A Zerodha account can be opened within 15 minutes if your mobile phone is linked to your Aadhar number. Check out the detailed step by step Zerodha account opening process with screenshots
Upstox Pro is another advanced e-commerce and mobile platform from Upstox which is the second largest discount broker after Zerodha. They were formerly known as RKSV Bonds.
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The duration of the graph can be from 1 minute to 1 month. It also comes with more than 10 drawing tools and 105+ indicators.
One interesting feature of Upstox Pro is that you can place an order directly from the chart itself by right-clicking on the chart. This really helps prevent silly mistakes when ordering and also allows us to focus on charts instead of symbols.
It also has another cool feature called drag and drop. Just hold the document name in the left column and drag it to the chart window in the middle. The chart window will now display the chart for that specific document.
He also presented 10 years of historical chart data. So when you’re testing any of your trading strategies, it can help to see how they’ve performed in the past.
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Upstox now waives account opening fees. You can open your account for free. Use the button below to take advantage of the offer.
Angel SpeedPro is another great trading software from India’s famous Angel Broking brokers. It is a desktop application and therefore needs to be installed by downloading an executable file
In early 2019, Angel Broking charged brokerage services on a percentage basis. But now they are also following Zerodha discount brokerage model.
You can use the link below to open an account with Angel Broking for free. (Account opening without 300 rupees is rejected). Plus, you get a demo account with zero AMC fees for the first year.
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ICICI Direct Trade Racer is a powerful trading platform from India’s largest broker ICICI Direct. They are the brokerage arm of ICICI Bank and have been instrumental in popularizing online trading in Indian stock markets.
Again, Trade Racer is a basic trading platform, so you need to install it before using it. It can be downloaded from their website.
This software has a feature called Trend Scanner: it’s basically a scanner that helps traders find trending documents based on terms.
The interface is customizable. You can choose your favorite colors, grid and layout. It comes with three different views which are “Analysis View, Inputs View and Equity View”. I think the names are self-explanatory and you can figure out what they mean.
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5Paisa is a discount agency promoted by IIFL (India Infoline). Their trading platform is called “Trader Terminal” which provides the best user experience.
FYERS ONE is a desktop trading platform from Bangalore based discount broker FYERS. Interestingly, FYERS has given great importance to its trading platforms since its inception.
The selection feature is the best part I like about their software. Able to analyze and identify good business opportunities. For example, you can analyze a document that is a certain percentage above the previous day’s high, etc.
FYERS charges Rs 20 per fulfilled order similar to Zerodha but they entered the industry late. Check out the full FYERS review here at FYERS Reviews.
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Sharekhan’s TradeTiger is my favorite indexing tool because I got used to it a long time ago and it’s hard for me to switch to Zerodha Kite. So now I use TradeTiger to chart but place order in KITE to save on brokerage.
However, you need to install the software on your desktop or laptop before you can start using it. The .exe file can be downloaded from the Sharekhan website.
Motial Oswal is India’s largest broker with more than 10 lakh customers. Its desktop trading software comes with many advanced features.
Unlike the other platforms I listed above which are developed by their stock brokers, SASA (Smart on the Web) is a web trading platform developed by the NSE stock exchange itself.
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You don’t need to install any software and you can access it directly from popular browsers like Chrome, Firefox or Internet Explorer.
The best part is that since the NOW servers are hosted by NSE, they are close to NSE and hence prices are updated faster compared to other brokers’ trading platforms.
Some popular brokers like Zerodha and Upstox have been offering NSE NOW to their clients by getting a license from NSE.
After developing their own platforms, they have now stopped their activities. However, few brokers like Tradejini etc. still provide it to their clients.
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About 10 years ago we used to pay for data feeds and buy charting software like Amibroker, Metatraders etc. All this was very expensive. Thanks to fierce competition between brokers and technological advances, traders get all this for free.
E-commerce is about developing a business strategy and executing it perfectly. All the above platforms are best in class, you just need to choose one that has all the technical analysis tools involved in your strategy.
I have tried to compile a list of some of the best trading platforms in India. If you think this list should be modified to include or exclude any platform, please let me know via comments.
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