How to choose the right share trading app for yourself

Technology has made stock trading easy and accessible to all – even someone who has no knowledge or experience of trading. Beginners can start learning from a share trading app while experts can use advanced features such as technical and fundamental analysis to implement their trading strategy. 

However, innumerable stock trading apps are available in the world nowadays which can make the task of choosing the right app for you quite difficult. Each person has his/her own preferences, experience level, risk appetite as well as investment horizon. When it comes to stock trading, there is no one size fits all concept for a stock trading app.

In this article, we will provide you with a few guidelines which can help you choose a suitable app based on your specific requirements and also talk about the 3 best stock trading apps available in India today. 

1. Know your requirements

To begin with, understand what do you want from an app? Do you want to access all kinds of company information or do you want to follow the news or both? Do you want to invest for the long term or trade regularly?

Define your financial goals, your knowledge level, your investment horizon and such other personal aspects. If you are a beginner looking to enhance your knowledge first before you start trading, you will need an app that will provide you with some basic training. If you are experienced, you will require fundamental and technical data to understand where you invest. 

2. Supported Trading Patterns

Now that you have defined your requirements, you have an understanding of whether you are a buy and hold investor or you want to trade regularly. If you want to trade regularly, you can be a scalper, day trader or swing trader. Or you can do all of them at different times of your stock trading journey. 

Search for apps that support your trading style. Scalpers and day traders work with short time horizons and hence need data on the go. They need to know the what and why behind an event immediately to take action and benefit from market volatility. Hence, your chosen stock market app should be able to provide you with the latest date data during trading hours. 

If you are a long term investor, on the other hand, you may not need to follow the news all the time. But, you will need your share trading app to give you insights to assist in making decisions regarding your portfolio. 

3. App Performance, Usability and Availability

Another very important aspect, according to us. Performance, usability and availability are what sets the best online trading app apart. The app should run smoothly and fast. Navigating through the app should be easy. We should not have to search everywhere for the things that we need. The interface should be simple and clean and easy to the eye. It should be available in Android and iOS, so that in future if you switch to a phone with a different operating system, you won’t have to look for another stock market app. 

Best Online Trading Apps in India

Based on what we told you above, we have shortlisted 3 of the best stock trading apps available in India today, which suit every kind of need. 

1. StockEdge

One of the most popular share trading apps, StockEdge specializes in fundamental and technical analyses. It covers stocks as well as mutual funds. You can start by checking out its free features and then move on to the premium features.

The free feature provides a holistic understanding of 5000+ stocks and almost all mutual funds. The premium feature, on the other hand, has a whole range of benefits – readymade strategies, thematic stock lists, analysis, advanced charts, data of big business houses, 300+ fundamental and technical analyses, etc. You can also see the portfolio of big investors and understand where the experts are investing. You can create your portfolio and track and manage it. 

People interested to educate themselves about the market can visit www.elearnmarkets.com, the education wing of StockEdge. This website has innumerable training, courses, blogs, articles, discussions on a variety of subjects, suitable for traders and investors of all experience levels. 

The StockEdge app has a simple user interface and is available on Android and iOS. They also have a web version, in case you want to use it on your laptop or computer. 

The simplicity of the app is what makes it one of the best online trading apps.

2. Economic Times Mobile App

I think there’s hardly any of us who haven’t heard about Economic Times. This app is brought by them to help investors and traders stay on top of the latest market events. You can stay up to date about the latest business news, read articles, learn about expert views and recommendations and do much more. The app also has a portfolio section where you can track your stocks and manage them. 

The app is quite easy to use and available on Android, iOS, Windows, Blackberry and Nokia. 

However, what the app lacks is providing fundamental and technical analysis as well as charting tools. This is an area where they can improve. 

3. CNBC App

The third app that we like is the CNBC App. We are all familiar with the name CNBC and this app is their endevaour to help us remain up to date on the go. This is ideal for anyone who doesn’t have the luxury of tracking CNBC on TV or the web throughout the day. 

It provides breaking news alerts, analysis of the Indian financial markets and Indian economy, panel discussions, expert viewpoints and much more. The best part is you can watch full episodes of programs on CNBC TV18 whenever you want through this app.

Like the first two apps, this one is also very easy to use and is available on Android and iOS. 

However, this app too is good for tracking market news. If you need advanced analysis, this app may not be an ideal choice. 

When it comes to stock trading, staying up to date is as important as understanding companies and tracking charts. Hence, an app that provides a combination of both is a better choice in the long run. 

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