Stock market Applications – An Insight
“It’s not whether you’re right or wrong that’s important, but how much money you make when you’re right and how much you lose when you’re wrong.” — George Soros
Trading applications are the most convenient solutions available for potential investors or traders. They allow the investor/trader to buy or sell securities, track their investments, do their own research and analysis and have a common platform for their funds. Some of the factors that come into play while selecting an application are
1. Speed – In this business every second count, hence it is important to have an application that can cater to speed as a minute delay can account for heavy losses.
2. Performance – Whether one is looking for intraday, options or commodities trading, the application has to be one that offers seamless connectivity. The application should also be one that makes navigation easy and user friendly.
3. Rating and Reviews – A poor review can be a thorn in the marketing efforts of any trading company. Therefore, as the adage of consumer engagement goes, all bad reviews should be addressed and resolved at the earliest.
4. Features & Usability – Having high-end features does not garner a lot of fan following. It is enough to keep features simple and usable but also ensuring that there are better user interfaces and availability across different operating systems.
Best Trading Applications for the Indian Market
Some of the best trading apps available for the Indian market are listed below (not in any particular order)
1. Edelweiss Broking – They offer market watch features which are customisable and indicators for technical analysis
2. Motilal Oswal MO Trader – It offers different applications for traders and investors. They offer news alerts, advanced technical charts, indicators and price alerts. They offer customisation to track favourite stocks.
3. Sharekhan Trade Tiger – Besides providing market news, technical charts and watch list to track stock, they also provide a financial planner to achieve financial goals.
4. Zerodha Kite Mobile App – Known famously for its user experience and ease of use, this application provides multiple market watch options along with search functions across exchanges. They also provide multiple market watch provision.
5. Angel Broking App – They provide personalised advisory, expert suggestions and news feeds and also offer technical indicators that makes trade easy.
6. IIFL Markets – Considered one of the best intraday trading app. Clients can apply for IPO’s and allows non clients also to browse through their features.
7. Kotak Stock Trader – Integrated with Bloomberg TV. Features such as investment tracking, live updates and market watchlist are key highlights.
8. 5 Paisa Mobile App – Speed and usability are one of its key features. It also provides tips and helps invest in mutual funds and insurance. Heat maps, technical indicators are also some of their USP.
9. Fyers Market – One of the youngest entrants into the trading arena, they offer multiple features for technical analysis and works with low internet bandwidth and integrated with 25+ stock banks.
That said, these applications are not free from technical glitches and issues relating to snags such as delays and bugs. It is left to the investor/trader to make informed decisions in this regard considering their requirements.
“I just made a killing in the stock market, I shot my broker”– Henny Youngman
Authors – Benila Jacob, Mark John