Mobile Trading Apps – Review, Features, Set-up, Usage & moreLast Updated Date: Nov 18, 2022
Mobile Trading Apps or Trading Applications are being used at a very fast pace in the Stock Broking Industry. Adoption rate or Usage rate of Trading Apps have increased significantly in last 5 years & continues to grow exponentially.
In this Article, we will discuss in detail about Mobile Trading Apps, their various features, the most known mobile trading apps in india, their pros, cons & more.
What are Mobile Trading Apps?
Ever since Trading in shares started in India, the traditional format of broking was that traders would wait all day for their stock prices to be displayed on Television sets or newspapers and then plan their investment.
This was the format till about the late 90’s atleast. Else they would call their brokers for latest updates and prices and then bid; however with the advanced technology, things have changed a lot. Technology is like the “Midas Touch”.
Everything that it touches turns to gold. Due to advancements and innovations in technology, many industries have revolutionized themselves and changed their approach and processes. Similar is the case with the Stock Broking Market as well.
More on Mobile Trading & Trading Apps
The dependency of waiting for a news update or enquiring with the brokers has gone by completely ever since trading has been made possible via Mobile apps.
Nowadays, everything can be done via the mobile phone – from shopping to ticketing to dating to trading, everything has turned mobile.
Stock Brokers have now introduced Mobile Trading Applications, which can be downloaded on one’s mobile phone and they can get regular updates, latest prices and also send trading instructions via their Mobile App.
In fact it has become such a mandate that the Broker who doesn’t provide one, would remain behind in the game; Mobile trading apps have become a differentiator between two Stock Brokers.
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List of Best Mobile Trading Apps in India
Below mentioned is a list of the Best Mobile Trading Apps in India:
These are some of the applications that the respective Stock Brokers have introduced for their customers’ convenience.
Trading through apps have made the trading industry rise into a different league altogether. People who have been skeptical about trading, also have now started to trade and explore the world of Shares.
Basic Features of Mobile Trading Apps
Mobile Trading Apps have made life easier for the traders as well as Stock Brokers. Trading via mobile has now become a matter of seconds; everything necessary for a good trading experience is available on the App.
Lets have a look at what features do most Mobile Apps come with:
This feature is a must in all Mobile Trading Apps; real-time market updates and quotes are streamed for the investors to make informed decisions. All major Stocks details would be listed as per their current price and their trending as well.
Detailed Charting Solutions
Many Brokers have also built in capability of Live charts on their Mobile App, which displays data of market trends and disparities in a simplified and organized manner that is easy to understand.
Any type of data that is represented in a visual and simplified format, is understood better and one can take actions accordingly. The Discount brokers who want all their traders to work on an auto-mode bring in such facilities in their apps.
Setup Price Alerts
Many mobile apps also have a feature wherein you can set up Price Alerts. The App syncs with various web trading platform and can alert you in situations where the price has dropped or risen above a stipulated limit.
Hence traders can be alerted on a realtime basis without someone going into the analysis themselves and figuring this out.
Manage end-to-end Portfolio
You can actually manage your portfolio or trading account end-to-end using the Mobile apps. Checking the quotes, looking at market updates, taking a decision and also place orders effortlessly using your mobile app.
Account Balance check
You can always stay in complete control of your finances as the Trading Account details, like account balance,. It also helps you keep a glance as to which trades you jabe done.
Advanced Features of Mobile Trading Apps
While Mobile Trading has become a growing rage amongst young traders as it has made the entire trading experience much efficient.
Lets look at what kind of advanced features are available in some of the Mobile trading apps:
Stock Market Simulator or Virtual Trading or Trading Games
Some of the company’s Mobile Apps come with a feature of Market Simulator; which is a mirror application of the actual trading app. This Simulator is for beginners who have no experience in trading and get a bit nervous before starting to trade.
This simulator would let you trade like in a real world scenario and the entire trade cycle would follow. This also comes with tips and tricks of trading for the entry level traders to be able to scale them up.
Direct Order Routing
With the use of analytics and feeding in the customer’s portfolio and his priorities, the App can help you give suggestions on trading.
It would run an algorithm on your choices and the available solutions in the market and push through an order suggestion in your app. You can review that suggestion and if you find it suitable, you can place the order.
Trading in all Segments
Most Mobile apps allow the integration of trading in multiple segments all at one go. You can trade for Currency, Commodity, Derivatives all at once using the same application without any hassle.
Application of Historical Data
Some Mobile Apps also provide the benefit of Strategic testing tools through which you can test your ideas on trading before actually initiating them and the app would run that through around 20 years of historical data to analyze if that is a viable solution.
This is a unique facility which is not available in many apps right now; however if this is adapted by most stock brokers, it would surely take the entire trading experience to a different level altogether.
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More Mobile Trading App in India
Most used features of Mobile Trading Apps
As mentioned above, the mobile Apps come with many features for providing an enriched and fruitful trading experience. However, not all features are used by all traders all the time.
There are certainly some common features that are used by all traders; lets have a look at them:
Stock quotes is one such feature that is imperative for any and every trader. This is important as it displays all current market quotes on a real time basis on your mobile screen.
Account Protection & Safety
Account protection is again another feature that every trader would look for in his Mobile App. This is something that most, or rather all Stock Brokers would boast off. Security of customer’s data and information against any misuse is one of the key features that the Mobile Apps need to work on.
Decent UI & UX
A well-designed app is very critical which uses simple and user friendly navigation to toggle so that every type of trader can use it with ease. An app that can provide information without much hassle, which has easy navigation flows and which is less complicated, will definitely attract more and more customers.
Another feature that cannot be ignored is Smart Notifications. Mobile Apps do send in a lot of notifications to traders on their dividends announcements or earnings track or any new stock price rise or drop.
However if these notifications come in a haphazard manner, the traders would not be able to leverage them. Hence, an app that displays every information in an organized manner is critical.
Moreover other features that an app should have as an offering would be market analysis, statistics, history of stock holdings, trending, and customer support.
How to use a Mobile Trading Application?
If you have been a regular trader and know the nuances of trading online, Mobile trading will just be an extension of the same but not using your laptop, rather the same being transformed into your mobile.
Mobile Trading gives you the flexibility to trade while on the go even when you are not in front of your computer. Else in otherwise situation, you would need to be glued to your computer throughout the day till the time the Stock market operates to be able to trade.
However, with Mobile trading, you can practically be out of office, not with your laptop, but still carry on all the same transactions that your Laptop would do for you.
If you are just starting off with trading and moving directly into Mobile trading, you will probably need to do a bit of research on the trading tips and tricks and understand the trade world better before exploring into this space.
However, if you are a gadget geek and have a knack of working with other Mobile Apps as well, you will find it pretty easy to operate and will enjoy the experience.
Getting Started with Trading Applications
Getting started with a Mobile trading app is not very difficult though; you just need to download the required app on your Smart phone and enter your credentials accurately in the app and get started.
Some Apps also have a self-help option or a Simulator option, wherein you can actually learn how to use the app through a game or a video. It will guide you in a very formative manner.
However, before you finalize on which Mobile App, you would download, you should do a bit of research as to what is that the app offers and what is suitable as per your requirements.
You would know your trading style and what features that you are looking for in that app to enhance your trade, hence work out as per your needs to identify the best app.
Advantages of Mobile Trading Apps
The invention of Mobile Apps have proven to be beneficial in all spheres, and so is the case with Stock Market Trading as well.
Mobile apps come with a lot of advantages for the traders:
- The biggest advantage of the Mobile trading apps is that they have made you “Mobile” too, which means you don’t have to be glued to your laptop or computer now to be able to trade; you can trade from anywhere while on the go as well and still be furnished with all recent updates
- Their easy Navigation and user friendly nature lets anyone adapt to this system immediately without any hassle. The apps also let you do multiple things at the same time, handle multiple accounts as well
- Security of your accounts and data is another advantage of these apps. While people do think that such critical operations through gadgets and devices could be risky, but these Mobile Applications are developed with fully encrypted firewall system which will protect your data from any fraud or misuse.
- You can use these apps in the language of your choice; they are extremely user friendly and designed with customer convenience in mind
- You are updated with latest market trends and analysis without being required to fetch for it yourself; these mobile apps do it all for you just by the click of a button.
Disadvantages of Mobile Trading Apps
As every coin has a flip side, so does Mobile trading app. Although there are many advantages of the Mobile trading apps; however there are a few disadvantages as well:
- Cost of development is very high from the Stock Broker’s point of view. When you sit down to deploy an app, and integrate the desires into applications, you realize that you spend a bomb in creating something that is a replica of the Web version.
- The Mobile apps, no matter how efficient they are, they do come with certain limitations. If your mobile is not compatible to handle the features of the app, you would not be able to extract all the benefits it should provide.
- Features like comparison charts, graphs of historical data are difficult to view on mobile. They can be easily viewed and understood in a laptop or computer.
- Apps also become outdated after a particular time period. They require constant updation & maintenance which leads to huge cost for the company.
Mobile Trading APPs Conclusion
Mobile Apps have become an integral part of a trader’s ecosystem. These days more and more people are turning towards trading just because of this simplified facility.
Hence, this is a boon to the Stock Market and they should leverage more out of it.
Mobile Trading Apps FAQs
Ques – Which are the best trading apps for intraday trading?
Answer – 5Paisa mobile app, Zerodha Kite App, Angel Bee app, Kotak Securities App, ICICI Direct Mobile app and Angel Broking are some of the best trading apps for intraday trading. Browse through the article me provide, and checkthe features of all the apps closely and finalize the best option.
Ques – Which are the best free trading apps?
Answer – Angel Broking App, Motilal Oswal MO Investor App, Zerodha Kite App and Sharekhan are the best free trading apps. You are not required to pay any downloading or usage charges while trading via any of the platform. Also, you will be able to avail for uninterrupted trading experience.
Ques – Which are the best trading apps for learners?
Answer – The Kite app, Upstox pro app and 5Paisa mobile app are the best training apps for learners and beginners. They have extensive features which go along with the needs beginners generally have with an app. They will ensure easy development in the world of trading, for beginners.
Ques – Which are the best trading apps for professional traders?
Answer – Motilal Oswal MO investor, and Zerodha kite app are definitely one of the best ones in the market for professional traders, per se. While pros have a lot more needs as compared with rookies, the apps are especially built to look out for the concerned group of investors.
Ques – Which are the best apps for trading in all segments?
Answer – As far as each and every segment is concerned, Kite by Zerodha, Wisdom Pro, Upstox Pro, 5Paisa and Angel Broking top the list. You can seamlessly trade in any of the apps mentioned, and in any of the segment of your choice. You can also invest in more than one segment in a hassle free manner.
Ques – Where can I learn how to use mobile trading app?
Answer – In this very article on our website, we provide you with an array of tables and charts with proper explanations and examples that can assist you in learning how to use mobile trading apps as such
Ques – Which is the best trading app among discount brokers?
Answer – Kite by Zerodha is undeniably the best trading app along discount brokers all over. The features are up to date with the present prevailing demand of traders and investors. This makes the app most desirable among the lot.
Ques – What are the advanced features of mobile trading app?
Answer – Few of the advanced features of mobile trading apps are:
- stock quotes
- Pretty decent UI and UX
- Tremendous market analysis
- Extremely smart notifications
- Absolute account protection.
Ques – Which are the best trading apps for iOS user?
Answer – The best reading apps for iOS users worldwide are 5Paisa mobile app the Zerodha Kite mobile app. As far as performance and speed of execution of a particular order is concerned, these two apps prove themselves more than just worthy.
Ques – Which are the best android mobile trading apps?
Answer – The best android mobile trading apps are undoubtedly Kiye by Zerodha, ShareKhan and IIFL or India Infoline. You can personally check their features and performance and weigh in the best option. We provide detailed information of each and every app in our website, which you can feel free to check.
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