Best Trading Apps in India for FY 2023: Features, Services, and More

In today’s financial landscape, a plethora of investment opportunities exist, from equities and mutual funds to bonds and currency trading. However, not everyone knows which trading platform is best suited to their needs. In this article, we delve into the best trading apps available in India for the fiscal year 2023, considering their features and the services they provide. When selecting a discount broker, it’s crucial to weigh the following key factors:

1. Easy and User-Friendly Interface
2. Speed and Performance
3. Customer Support Service
4. Brokerage Charges
5. Usability and Any Extra Features Provided

Let’s explore the top trading apps in India for FY 2023:

1. Zerodha Kite

Zerodha Broking Limited continues to dominate India’s financial services sector, catering to both retail and institutional investors in currencies, equity, commodities, bonds, and mutual funds. Zerodha offers both web and Android app platforms, and it stands out with zero brokerage for all investment segments, charging only Rs 20 per order for intraday and F&O trading. With over 5 million users nationwide, Zerodha boasts excellent customer support. The account opening fee is Rs 200 for online applications and Rs 400 for offline applications.

2. Upstox

Upstox, another industry leader, serves over 4 million clients through its web and Android applications. It provides services in equity shares, F&O, commodities, and mutual funds, all with a competitive brokerage fee of Rs 20 per order. Upstox offers apps for desktop, Android, and iOS platforms, including two segments: Upstox and Upstox Pro. They cover equity delivery, mutual funds, IPOs, digital gold, intraday, F&O, commodities, and currency derivatives. The account opening charges are Rs 249, and the Annual Maintenance Charges are Rs 300 per year.

3. Angel Broking

Angel Broking Limited is one of India’s largest full-service retail broker houses. It’s a member of NSE, BSE, MCX, and a depository partner with CDSL. Angel Broking offers equity trading, F&O trading, commodity trading, and mutual funds with a flat fee brokerage of Rs 20 per order for F&O and intraday trading, along with zero fees for equity delivery trading.

4. Sharekhan

Sharekhan, a trusted broker since 2000, provides online brokerage services through websites and Android apps. With 1800 offices in 550 cities across India and an international presence in UAE and Oman, Sharekhan is a formidable player. They offer various trading account types, including Classic and Trade Tiger accounts. Sharekhan charges no fees for account opening and provides free access to research courses across all segments. The brokerage charges a flat Rs 10 per order for equity, intraday, F&O, and commodities.

5. Edelweiss

Edelweiss Broking Limited is an Indian financial services company registered with the BSE, NSE, and MCX stock exchanges. Their retail broking business facilitates trading and investing in equity, mutual funds, IPOs, debt, currency derivatives, and F&O. Edelweiss offers three account types: Edelweiss Lite, Edelweiss Elite, and Advance Edelweiss subscription plans. They charge Rs 10 per order for brokerage on intraday and F&O segments. Account opening charges vary based on the subscription plan, with Annual Maintenance Charges set at Rs 500 per year.

6. 5Paisa

5Paisa, a well-regarded full-service Stock Broker since 2016, offers online trading in equity, currency derivatives, and commodities. They are members of the BSE, NSE, and MCX stock exchanges. While account opening is free, 5Paisa has three subscription plans: Basic, Power Investors and Ultra Traders pack. They also charge Rs 300 for trading account opening and a flat Rs 20 brokerage per order, with maintenance charges of Rs 45 per month.

As you navigate the dynamic world of trading in FY 2023, consider these platforms and their offerings to make informed investment decisions. Remember to research and evaluate each broker based on your specific needs and financial goals.