What's The Best Trading Platform For Beginners – My first online trading experience was through Sharekhan’s “Classic” online trading app. Many times some trades where I made a profit used to turn into a loss just because of the slowness of the interaction. It wasn’t until I switched to their TradeTiger software that I realized the importance of using a good trading platform. Later, I switched to Zerodha’s KITE platform because of its simplicity and loaded features.
So I thought of compiling a list of the best trading platforms in India for 2022 in this article which you might find useful. It includes details of these trading software offered by some of the best stock brokers in India and information about their features.
What's The Best Trading Platform For Beginners
Before that, let me quickly introduce you to the different types of online stock trading apps available in India. If you already know this, you can skip to the next section.
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In India, one can trade online in the stock market basically through 3 interfaces. All major stockbrokers develop platforms for these three types of interactions.
Knowing the above, I will cover most desktop and web platforms in this article. I will talk about the mobile platform in a separate article. (Read: Best mobile trading apps in India)
KITE is an online shopping platform for web and mobile from India’s No.1 discount broker, Zerodha. Previously, they offered a third-party software called NEST which originated from Omnesys technology.
KITE is developed in-house by the Zerodha team and if there is a problem, they will fix it.
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The reason why it tops the list is that it is very lightweight and consumes less bandwidth (less than 0.5 kbps) compared to other brokers’ platforms.
I like the minimal interface it provides. The screen is not cluttered with many elements with a bright background color which is really unnecessary.
Zerodha offers Zero Brokerage on investment and Rs 20/execution order for non-shipment trades (domestic and F&O). I have written a detailed review on Zerodha and their offerings.
Before we go any further, let’s see how much an investor and trader can make if they open an account with Zerodha.
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Due to the huge cost savings and quality trading platform (KITE) offered by Zerodha, they were able to beat ICICI Direct and Sharekhan to become India’s largest stockbroker in 8 years.
If you plan to invest Rs 10 Lakh, with 0.55% brokerage (ICICIDirect charges as much!), you have to shell out Rs5,500 in brokerage itself, while you pay Nil in case of Zerodha (the investment is free with Zerodha).
Suppose you buy Rs 10 lakh and sell for 10 lakh of shares per day. This means that in about 20 trading days of the month, it will be 400 lakhs.
Currently, Zerodha charges Rs 20 per transaction for intraday. At Zerodha, brokerage is not based on commercial value. For each order, they charge Rs20 regardless of the commercial value.
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So, per day it will be Rs 40 (Rs 20 for Rs 20 for Rs and Rs 20 for sale) and for each month it will be 20 * Rs40 = Rs 800.
Because of these savings and advanced yet easy to use platform, I recommend opening an account with Zerodha. I’ve been using it since 2012.
An account on Zerodha can be opened in 15 minutes if your mobile is linked to your Aadhar number. Check Step by Step Details on How to Open Zerodha Account with Screenshots
Upstox Pro is an advanced web and mobile trading platform from Upstox, the second largest discount broker after Zerodha. They were previously called RKSV Securities.
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The schedule can be set from 1 minute to 1 month. It also comes with 10+ drawing tools and 105+ indicators.
One of the cool features of Upstox Pro is that you can place orders directly from the chart itself by right-clicking on the chart. It also helps to avoid silly mistakes when placing orders and also helps us focus on the chart rather than the symbols.
It also has another cool feature called drag and drop. Simply hold the script name in the left column and drag it to the map window in the middle. Now the table window will show the table for that particular script.
It also provides 10-year historical chart data. So if you are testing one of your trading strategies, it may be useful to see how it has performed historically.
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Upstox is now waiving account opening fees. You can open your account for free. Use the button below to get the offer.
Angel Speed Pro is another excellent trading software from the famous Indian broker Angel Broking. It is a desktop application and therefore needs to be installed by downloading the executable file.
In early 2019, Angel Broking charged a commission as a percentage. But now they also follow Zerodha model of discount brokerage.
You can use the link below to open an account with Angel Broking at no cost. (Free Rs 300 account opening is excluded). Plus, you get a demat account with zero AMC fees for the first year.
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ICICI Direct Trade Racer is a trading platform powered by India’s largest stockbroker, ICICI Direct. They are ICICI Bank brokers and play a major role in popularizing online trading in the Indian stock market.
Again, Trade Racer is a terminal-based 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 functionality: basically a scanner that helps traders find trend scripts based on specified criteria.
The interface is highly customizable. You can choose your favorite color, grid and pattern. It comes with three different views, “analytical view, profit view and equity view”. I think the name is self explanatory and you can understand what it means.
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5Paisa is a discount broker promoted by IIFL (India Infoline). Their trading platform is called ‘Trader Terminal’ which offers the best user experience.
FYERS ONE is a desktop trading platform from Bengaluru-based FYERS discount brokerage. Interestingly, FYERS has placed great importance on its trading platform from the beginning.
The filtering feature is my favorite part of their software. It can scan and preset a great business opportunity. For example, you can analyze a script that deviates by a certain percentage from the previous day’s high, etc.
FYERS Charge Rs 20 / Order Action Similar to Zerodha but entered the industry a bit late. Check out the full FYERS review here at FYERS Review.
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Sharekhan’s TradeTiger is my favorite charting tool, only because I’ve known it for a long time and it’s hard to change it to Zerodha Kite. So now I use TradeTiger for charts but place orders with KITE to save on brokers.
However, you need to install the software on your desktop or laptop computer before you start using it. The .exe file can be downloaded from the Sharekhan website.
Motial Oswal is India’s leading stockbroker with over 10 million clients. Its desktop trading software comes with many advanced features.
Unlike the other platforms I listed above which are developed by stockbrokers, NOW (Neat on Web) is an online trading platform developed by the NSE stock market itself.
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You don’t need to install any software and you can access it directly from a leading browser such as Chrome, Firefox or Internet Explorer.
The best part is that because it is promoted by NSE, the server is now closer to NSE and therefore the price is updated a bit faster compared to other brokers’ trading platform.
Some top brokers like Zerodha and Upstox used to offer the current NSE to their clients by getting a license from NSE.
After developing their platform internally, they have now stopped. However, few brokers like Tradejini and others still provide it to their clients.
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About 10 years ago we spent money on feed data and bought charting software like Amibroker, Metatraders and others. All this is quite expensive. Thanks to fierce broker competition and advanced technology, traders get it all for free.
Online trading consists of designing a trading strategy and its perfect execution. All of the above platforms are top notch, you just need to choose one that has all the technical analysis tools related to your strategy.
I have tried to compile a list of some of the best India trading platforms. If you think this list needs updating by including or excluding a platform, please let me know via the comments.
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