Best Apps for Stock Trading in India
The best stock trading app in India - RoboForex
Best apps for stock trading in India:
RoboForex - best for novice and professional traders
IC Markets - best for active traders
XM Group - best trading conditions
MultiBank - best commission-free account for new traders
Interactive Brokers - best for professionals
If prospective stock traders know the various stock types and stock investment procedures, they will fare better in the stock market. Aspects of trading that investors should learn include how to spread or diversify their portfolio and how to manage risks. Then knowing which is the best stock trading app in India crowns the trader's effort when they decide to make their first trade.
The proliferation of various stock trading apps is the main factor why picking the best app to buy shares is daunting. Among the apps for the Indian stock market, four to five traders will always have varying reasons for choosing different trading apps in India. And this can be traced to the stock services and trading tools each trading app offers stock traders.
This article will show potential stock traders the best stock trading app in India. So read on to discover the best app to buy stocks.
Top 5 best apps for trading in India
The best stock trading apps in India are covered in this section. Each stock trading app is described in terms of its features, benefits, and drawbacks.
RoboForex - best for novice and professional traders
RoboForex is a top-rated, regulated, and reliable stock broker that every potential Indian stock trader should consider. They are among the best stock trading apps in India for every beginner stock trader. The RoboForex stock trading app in India allows traders to trade CFDs on stocks of top companies in India and beyond.
Among the apps for the Indian stock market, RoboForex integrates a user-friendly interface, top indicators, and tools for technical and fundamental analysis. Traders can monitor market trends, follow crucial company news and updates, and have a clue about factors that could impact prices.
RoboForex has over 3000 US stock options with only 0.025 USD per share and 0.009 USD per share for deposits over $10,000. Also, traders get access to CFDs on stocks of Amazon, Facebook, Siemens, and other instruments.
Extra features
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An advanced copy trading platform like CopyFx and a PAMM account.
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An accessible VPS server and a demo account.
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Leverage up to 1:20.
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Integrates top trading platforms like MetaTrader 4, MetaTrader 5, and RStocksTrader.
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Over 12,000 trading instruments.
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Incorporates stock exchange charts and online quotes, two of the most effective tools for technical analysis.
👍 Pros
•Trading with RoboForex is entirely secure, and negative balance protection is available.
•For deposits and withdrawals, RoboForex charges no fees.
•Traders get up to a 30 USD bonus from RoboForex after opening a standard or cent account.
•Traders can automate their trading processes by using the free trading robot builder.
👎 Cons
•The provided demo account has a limit.
IC Markets - best for active traders
The next best stock trading app in India is IC Markets, a reputable and reliable Forex and stockbroker. This broker is a top Forex CFD provider by trading volume and gives customers the best stock trading conditions. Also, they offer the best app for Forex trading in India.
Traders can start trading stocks on the MT5 platform with a 200 USD minimum deposit. You can start trading more than 1,600 stock CFDs, including shares of well-known US tech companies, ASX stocks, NASDAQ and NYSE stocks, and more. And since they are among the trading apps in India that provide a less expensive trading environment, traders can be certain of having the best stock trading experience.
Traders can use copy trading services and access trading tools like Trading Central. IC Markets offers exceptional copy trading services and round-the-clock customer support, which are helpful to new traders. And they are among the best PAMM brokers in India.
Extra features
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Advanced copy trading service and MAM/PAMM accounts.
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Robust trading terminals for web browsers, Android, Windows, MAC, and iOS.
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IC Markets offers a VPS service.
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IC Markets integrates MT4, MT5, and cTrader trading platforms.
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Stocks CFDs and over 2100 products.
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Ultra-fast execution.
👍 Pros
•IC Markets is a well-known stock broker app with low trading fees and comprehensive trading tools.
•Customer service from IC Markets is top-notch and available 24/7.
•Trading enthusiasts of all levels should consider IC Markets, as it is user-friendly.
•IC Markets has narrow spreads, a high degree of regulation, and a wide range of assets.
👎 Cons
•The only platform that offers high minimum deposits and stock CFD trading is MT5.
XM Group - Best trading conditions
XM is yet another great stock trading app in India. While you have access to three stock exchanges through the broker to trade real stocks, you can also trade stocks on the XM platform as individual stock CFDs. However, traders can trade CFDs on the stocks of more than 600 companies.
The fact that XM offers traders low commissions and requires a $5 deposit to open an account on the platform sets it apart from other top stock trading apps in India.
Additionally, there is a demo account, superior research, user-friendly interfaces, top trading tools, and incentives and bonuses for new traders. The account funding procedure is fully automatic and available around-the-clock.
Extra features
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Advanced copy trading platform and a PAMM account.
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Mobile trading apps are interesting, including XM MT4 and MT5.
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Leverage up to 1000:1.
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Over 1200+ stocks.
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Trading platforms: MT4 and MT5.
👍 Pros
•Free withdrawals and deposits.
•Some of the most prestigious regulatory bodies in the world oversee XM.
•XM provides a significantly larger selection of stock CFDs than the majority of other brokers.
•Three of its five accounts do not charge commissions for Forex trading.
👎 Cons
•MT5 is the only platform that offers the majority of stock CFDs.
MultiBank - Best commission-free account for new traders
For potential stock traders looking to invest in stocks, MultiBank is among the best stock trading apps in India. MultiBank integrates cutting-edge trading platforms as a reputable broker and provides a free demo account. And you only need a minimum deposit of $50 to open an account and trade over 20,000 instruments.
MultiBank is among the trading apps in India that offer traders full EA functionality to automate their trading strategies. Traders can benefit from the new social copy trading feature by copying the trades of expert traders and having the chance to learn from and benefit from their success.
Investors have market access, limit orders, stop-loss order types, and real-time stock market news.
Extra features
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Top copy trading services and MAM/PAMM accounts.
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Free VPS hosting, FIX API, and expert advisors.
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Leverage: Up to 1:500.
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Multibank integrates MT4, MT5, and cTrader trading platforms.
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Over 20,000 stock CFDs.
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24/7 technical and account support.
👍 Pros
•Charts that can be modified to fit your trading style and analyze price changes.
•The best technical indicators, trading signals, and quick order execution are available to traders.
•With MultiBank, opening an account is quick and easy.
•There are several free options available to traders for deposits and withdrawals.
👎 Cons
•An inactivity charge applies.
Interactive Brokers - best for professionals
Interactive Brokers is another international broker integrating the Indian Stock Exchange (NSE) and offering trading on different Indian shares and stock options. The users have access to a Demat account so they can hold Indian securities digitally, and they rank among the top stock trading applications in India.
With the Interactive Brokers trading app in India, traders can have a diverse experience trading with tools like Trader Workstation (TWS) with advanced features. And there is also a mobile option available for both Android and iOS smart devices. Traders of all experience levels will be happy with the brokers' top-notch research, trading resources, trading costs, and education.
Extra features
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PAMM account.
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Trading platforms: Client Portal, Trader Workstation, Impact Mobile, IBKR Mobile, and IBKR GlobalTrader Mobile.
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More than 135 stocks.
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For technical traders, there are more than 120 technical indicators available.
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Simple to use drawing instruments.
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Trade confirmations are provided in real-time, along with information on margin, a look at transaction costs, and sophisticated portfolio analysis.
👍 Pros
•Opening an account with Interactive Brokers (IBKR) does not require making a minimum deposit.
•The trading expenses at Interactive Brokers are among the most affordable in the market.
•Incorporates a powerful suite of advanced trading technologies that help clients achieve best execution and minimize market impact.
•Rich charting and trade execution from within the charts are both features of the IBKR mobile app.
👎 Cons
•Social trading and copy trading are not available.
•The only way to fund trading accounts at Interactive Broker is through bank transfers, and the company does not offer external platforms like MT4 and MT5.
The best stock trading apps in India compared
Investing in Indian stocks could be an excellent way to capitalize on emerging markets and diversify your portfolio if buying foreign stocks fits your investment objectives. Before you start, compare the best apps to buy shares and only choose a trading app in India that suits your trading style. Below is a tabulated review of the best stock trading app in India.
| Broker | Minimum Deposit | Number of Stocks | Commission | Leverage |
|---|---|---|---|---|
$10 |
3.000 stocks, + over 9.000 CFDs |
From $0,009 per lot |
Up to 1:20 |
|
$200 |
2,100+ stocks and CFDs |
Spread based |
Up to 1:20 |
|
$5 |
1,200+ |
Spread based fee |
Up to 1:20 |
|
$50 |
20,000 stock CFDs |
ECN account: $3.00 commission per lot per trade plus spread cost. 0.3 pips is the average spread |
Up to 1:500 |
|
$0 |
135+ exchanges |
From $0.005 per share |
Up to 1:3 |
How to choose a trading app in India?
Choosing a trading app in India can be a complex and important decision. Here are 4-5 tips to help you make an informed choice:
Safety and regulation
Look for a Forex broker that is regulated by a reputable financial authority, such as the Reserve Bank of India (RBI), or an international regulatory agency like ASIC (Australia), FCA (UK), or CySEC (Cyprus). This helps ensure that your funds are protected and that the broker operates transparently and ethically. The broker should have data protection and risk management measures in place. More importantly, check the broker's security measures to prevent hackers, like SSL encryption.
Trading conditions and fees
Consider the trading conditions and fees offered by different brokers, including the spread, leverage, and execution speed. Also, check if there are any hidden fees or charges, such as deposit and withdrawal fees, and if the broker offers negative balance protection.
Trading platforms
Choose a Forex broker that offers a user-friendly and reliable trading platform. It should be easy to use, with advanced charting, technical analysis tools, and automated trading options if you are interested in that. Check whether they also have a mobile app so you can trade on the go.
Customer support
Ensure the Forex broker provides excellent customer support, including email, phone, and live chat. Check if the broker has a dedicated support team available 24/7 and if they are responsive to inquiries and requests. If they're available in local languages, even better.
Reputation and track record
Research the reputation and track record of the Forex broker, including their financial stability, client satisfaction, and any notable events or incidents. Read reviews and testimonials from other traders, and seek the opinions of professional traders or financial advisors.
It's important to remember that Forex trading involves significant risk, and it's always best to consult with a financial advisor and thoroughly research the market before making any trading decisions.
How to start trading stocks in India?
Traders should conduct extensive research on the Indian stock market because understanding the stocks they intend to invest in can increase their profitability. Also, traders must learn about the stock and Forex market opening times in India. Given that investing in Indian stocks can boost your income, how do you get started? Below are steps on how to start stock trading in India.
Before starting, a prospective stock trader or investor must have a firm grasp of the share trading procedure. Hence, learn how the stock market operates.
Based on your knowledge of the stock market, develop a share trading strategy and choose which shares you might want to purchase.
Choose the best stock trading app in India to start trading stocks. Ensure to research the stock broker app. Check their stock trading offerings, trading platforms, and charges.
Find the requirements and objectives particular to your trading. Only choose trading apps in India that have qualifying features.
Examine the performance of the stocks or businesses listed on any of the top Indian Forex trading apps.
It is time to open an account with the best trading platform in India. However, before trading with your real account, remember to practice with the stockbroker app's demo account.
After assembling your desired shares into a diversified portfolio, look for a stock trading opportunity.
You can now open, monitor, and close your first position, but before that, test your trading strategy on the demo account.
Note: Traders who trade on the demo account provided by the best stock trading app in India will get a general idea of what to anticipate in the stock market. Also, traders can find the right stocks for their investment goals if they create a clear investment plan with an investment horizon and an expected return on investment (ROI).
What are the best trading apps for beginners in India?
Stock trading beginners looking for the best stock trading app in India should choose brokers that make stock trading less complicated. The best stock trading app should offer traders copy trading services and PAMM trading options with good educational resources. The best stock trading apps in India with these features include RoboForex and IC Markets.
Can I trade with an international stock broker?
Yes, traders in India can trade with an international stock broker. A trader who wants to trade stocks of top companies in India, the U.S., the U.K., and other countries should consider trading with an international stock broker. But traders should ensure that a foreign broker accepts Indian clients and is regulated by reputable financial institutions before signing up and trading with them.
Do I pay taxes for stock trading in India?
Yes. Stock traders pay capital gains taxes for stock trading in India. Capital gain tax is the fee traders pay after selling a stock or shares for a profit. The law regulating taxation in India is the Indian Income Tax Act of 1961.
The capital gain tax in India is grouped into short-term and long-term capital gains, so the rates differ. The short-term capital gain tax applies to proceeds from the sale of stocks within a year. Although both equity and debt stocks are subject to this tax, the tax rate for equity stocks is 15%, while the tax rate for debt stocks is 30%.
Long-term capital gain tax, which applies to both equity and debt stocks, must be paid if a trader makes money from the sale of stocks more than a year after purchase. While debt stocks are taxed at a rate of 20% and equity stocks at a rate of 10%, any gains exceeding Rs. 10 lakhs are subject to an additional 10% surcharge.
FAQ
Which stock platform is best in India?
A stock platform that is duly regulated has a user-friendly interface, and top trading platforms are best for stock investments in India. RoboForex, Interactive Brokers, and IC Markets are among the best stock platforms in India.
How to trade stocks in India?
To start trading stocks in India, you must understand the process of stock trading and the best stock trading app or platform to use in India. Before opening a real account, select a reputable app or platform and begin trading with a demo account, especially if you are a beginner.
What is the best stock trading app to use?
The best stock trading apps to use are those offering traders services like copy trading, PAMM accounts, low transaction costs and minimum deposits, top trading tools, and access to the global financial market.
Do I pay taxes for stock trading?
Yes. Stock traders pay capital gains taxes for stock trading in India. Capital gain tax is the fee traders pay after selling a stock or shares for a profit.
Glossary for novice traders
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1
Trading
Trading involves the act of buying and selling financial assets like stocks, currencies, or commodities with the intention of profiting from market price fluctuations. Traders employ various strategies, analysis techniques, and risk management practices to make informed decisions and optimize their chances of success in the financial markets.
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2
Broker
A broker is a legal entity or individual that performs as an intermediary when making trades in the financial markets. Private investors cannot trade without a broker, since only brokers can execute trades on the exchanges.
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3
CFD
CFD is a contract between an investor/trader and seller that demonstrates that the trader will need to pay the price difference between the current value of the asset and its value at the time of contract to the seller.
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4
Copy trading
Copy trading is an investing tactic where traders replicate the trading strategies of more experienced traders, automatically mirroring their trades in their own accounts to potentially achieve similar results.
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5
Forex Trading
Forex trading, short for foreign exchange trading, is the practice of buying and selling currencies in the global foreign exchange market with the aim of profiting from fluctuations in exchange rates. Traders speculate on whether one currency will rise or fall in value relative to another currency and make trading decisions accordingly.
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Team that worked on the article
Peter Emmanuel Chijioke is a professional personal finance, Forex, crypto, blockchain, NFT, and Web3 writer and a contributor to the Traders Union website. As a computer science graduate with a robust background in programming, machine learning, and blockchain technology, he possesses a comprehensive understanding of software, technologies, cryptocurrency, and Forex trading.
Having skills in blockchain technology and over 7 years of experience in crafting technical articles on trading, software, and personal finance, he brings a unique blend of theoretical knowledge and practical expertise to the table. His skill set encompasses a diverse range of personal finance technologies and industries, making him a valuable asset to any team or project focused on innovative solutions, personal finance, and investing technologies.
Dr. BJ Johnson is a PhD in English Language and an editor with over 15 years of experience. He earned his degree in English Language in the U.S and the UK. In 2020, Dr. Johnson joined the Traders Union team. Since then, he has created over 100 exclusive articles and edited over 300 articles of other authors.
Mirjan Hipolito is a journalist and news editor at Traders Union. She is an expert crypto writer with five years of experience in the financial markets. Her specialties are daily market news, price predictions, and Initial Coin Offerings (ICO).