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The Indian Stock Market provides several profitable opportunities to long-term investors and traders. With advancing technology and growing financial literacy, these opportunities have become more accessible and easier for the country’s citizens.
Stock trading is considered one of the best ways to generate a side income. From businessmen to homemakers, students to working professionals, everyone can profit from trading in stocks if done in a dedicated and sincere way with proper research and analysis guided by trusted tools.
Maximising profits and minimising losses in trading requires using technical and fundamental analysis, staying updated about the continuous rise and fall of stocks, analysing charts, and studying research reports, among many other things.
Here is when these apps come into play. They make the life of traders simple, faster, and more efficient. This article will review some top apps to help new and experienced traders boost their trading and maximise profits.
1. Upstox
Upstox is a popular discount broker that provides trading and investment opportunities in stocks, currency, commodities and mutual funds (MFs). It is one of the biggest trading applications in India and is backed by the likes of Mr Ratan Tata and investment firm Tiger Global Management.
| Google Play Store Rating | 4.5 ⭐ |
| Apple App Store Rating | 4.3⭐ |
Widely known for its instant investing feature, the application has a huge local and international stock portfolio and provides a variety of trading and investment options with extensive analytics like TradingView and Charts IQ database, all packed in an intuitive and easy-to-use interface.
Key Features:-
● Offers equities, derivatives, currency, and commodity trading
● Proposes investment in gold, initial public offerings (IPOs), and MFs.
● Supplies live stock quotes and refined charts with 100+ technical indicators
● Minimal trading charges on transactions
● Trade directly and instantly using the Trade From Charts (TFC) feature
● Upto 5X leverage on intraday trading
Pros:-
● No commission on MF investments
● User-friendly navigation and trading
● No account opening or maintenance fees
● Unlimited price alerts for stocks
● Customisable charts with multiple intervals, types and drawing styles
● Historical data for the last 10 years
Cons:-
● No research, analysis and recommendation services
● Poor Customer Support (As per complaints)
2. Unicorn Signals
Unicorn Signals is a one-stop super app for everything related to the Indian stock market. It is a stock research platform that bundles important features like AI-generated trading signals and expert analysis of stocks with a user-friendly interface and a comprehensive view of the stock market.
| Google Play Store Rating | 4.4⭐ |
| Apple App Store Rating | 4.5⭐ |
If a trader is forced to keep only a single app apart from that of its broker, Unicorn Signals should be that application. This super app helps make Investing and Trading easier and more reliable. It has useful features for both traders and investors.
Key Features:-
● Market Movement Prediction of some of the most watched indices
● Track the daily performance of domestic indices
● Analyst Zone enlists what experts are talking about in the market
● Instant information on any stock based on it’s technicals and fundamentals
● AI-generated Intraday Trading, Swing Trading and Options Signals
● Track upcoming IPOs and all the necessary details about them
Pros:-
● All trading and investing features in one place
● Easy, Intuitive and beginner-friendly interface
● Market Forecast for the next day based on their Technical and Fundamental situation
● Trading Signals for all types of traders in the Indian Stock Market
Cons:-
● Doesn’t offer stock broking services
3. MO Investor by Motilal Oswal
Motilal Oswal Securities Ltd (MOSL) is a notable stock brokerage firm in India. It has established its name in the industry with a strong network of branches and sub-brokers in more than 1700 locations since 1987.
| Google Play Store Rating | 4.2⭐ |
| Apple App Store Rating | 3.6⭐ |
The MO investor app is designed by MOSL and is one of the unique trading apps available in India. The app offers advanced tools with portfolio management assistance across many investment alternatives such as stocks, derivatives, commodities, currencies, mutual funds, IPOs, bonds, and US equities.
The app also offers beginner, advanced, and intermediate classes to grow expertise using various instructional tools such as blogs and attractive infographics.
Key Features:-
● In-depth details on margins, positions, and research reports.
● Value-added services like automated advisory, live bot genie, etc.
● Access to academic materials for traders at all skill levels
● Offers trade in digital gold without paperwork
● Stock scanner
Pros:-
● Readily available funding services like loans against securities, margin funding, and stock lending
● Bulk order function to execute multiple orders with a single click
● AI-powered portfolio rebalancing to maximise returns
● Quick processing
● Easy-to-understand charting tools
● No account opening, advisory and research services charge
Cons:-
● Higher brokerage transactional charges
● Complaints of poor customer service
● Rs 1,000 account opening charges
● Below-average charting in comparison to other brokers
4. Groww
Groww is one of the highest-rated trading apps in India. The easy-to-use interface and free and helpful analysis tools make it the best beginner-friendly trading application in the country.
| Google Play Store Rating | 4.3⭐ |
| Apple App Store Rating | 4.3⭐ |
Besides stock trading, the Groww app offers gold, fixed deposits, MFs, and other financial instruments. It does not charge any commission charge to use this service. The application focuses on simplicity and transparency.
Key Features:-
● Invest in gold, fixed deposits, domestic and US stocks, MFs, and F&Os
● Loaded with charts, indicators and other technical tools
● Built-in mutual funds calculator
● Mutual Fund SIPs at zero commissions
Pros:-
● Free Demat account
● No commission on mutual fund investments
● Simple and beginner-friendly interface
● Single-click order placement
Cons:-
● High charges for call and trade per order
● Does not support an NRI account
● Advanced order types not available
5. Moneycontrol
Moneycontrol is one of the largest online financial platforms in India and offers the latest stock market news and updates, along with tons of fundamental and financial data about Indian stocks. The Reliance Industries-managed platform also offers personal finance management tools.
| Google Play Store Rating | 4.2⭐ |
| Apple App Store Rating | 4.4⭐ |
It offers easy navigation through the latest quotes of stocks, F&O, mutual funds, commodities and currencies from the Bombay Stock Exchange (BSE), National Stock Exchange (NSE), Multi Commodity Exchange (MCX), and National Commodity and Derivatives Exchange (NCDEX).
Key Features:-
● Track the latest updates on Indian and Global financial markets
● Portfolio monitoring across several asset classes
● Message Board to engage in conversations relating to your portfolio or interest
● Watchlist personalisation
Pros:-
● Covers multiple assets from multiple exchanges
● Latest Market Data and News
● Tons of information for free
Cons:-
● No Fundamental and Technical Analysis
● Generic Information
Wrapping Up
The increasing scope and accessibility of stock trading have led several individuals to generate a side income. The apps discussed are a boon for such traders. They help them navigate the dynamic market by using tools and resources that enhance efficiency. There may be several other apps that we missed here that may have been a better fit, so a trader must choose the app that aligns with their goals, preferences, and trading strategies.
