How to Start Investing in the Stock Market ? Best Stock Broker for Beginners in India
How to Start Investing in the Stock Market ? Best Stock Broker for Beginners in India
Finance

How to Start Investing in the Stock Market ? Best Stock Broker for Beginners in India

Investing is a way to set aside money while you are busy with life and have that money work for you so that you can fully reap the rewards of your labor in the future. Investing is a means to a happier ending. Legendary investor Warren Buffett defines investing as “the process of laying out money now to receive more money in the future.”1 The goal of investing is to put your money to work in one or more types of investment vehicles in the hopes of growing your money over time.

How to Start Investing in the Stock Market?

People look to invest their surplus income to further grow their wealth. The stock market is a great place to do just that. Strategic trading on the stock market can help you supplement your income – disciplined trading over time can help you replace your income, as well. Trading on the stock market gives people the freedom to work from wherever they want, whenever they want.

Trading stocks on the stock market helps people grow their retirement funds, finance business expansion, and achieve other financial goals. Today, with the help of electronic trading accounts, anyone can start trading.

Follow these steps to start investing in stocks today:

Required Documents-

To trade stocks, you will need a demat account to store your positions electronically and a trading account to execute the trades. Most DPs offer a 2-in-1 demat and trading account. Here are the documents that are required to open such an account:

  • PermaYour PAN Card
  • Your Aadhaar Card
  • Your name on a canceled cheque from your active bank account
  • A proof of your residence based on a list of documents that have been accepted by your stock broker, depository participant, or bank
  • Documents detailing that you earn an income
  • Passport-sized photographs of you

Difference between trading and investing –

Once all the documents are submitted, the DP will cross-check the submitted details and then provide you with the login details. With these details, you can log into your account and start trading. There are two distinct strategies that you can choose from:
a) Trading:
In this strategy, you will aim to turn short-term price fluctuations into profits. This strategy is mostly followed by intraday traders who clear all their positions by the end of day. The aim here is to take large, voluminous positions and look to sell upon the smallest or price fluctuations.
b) Investing:
Contrary to trading, investing means to hold your positions for long periods of time. The aim here is to discover undervalued companies, buy their stock, and maintain your position in them through the temporary market ups and downs.

If you want to be successful in stock market, one of the important factors separated from your trading technique is the platform that you use for the trading. For consistent trading on the web, you need a fast trading platform speed, real-time market data and convenient tools for advanced charting. In this case, you have to get the Best trading platform in India.

In order to be prepared for the present market requests, the correct methodology in exchanging can be accomplished with the Best trading platform In India. Read the useful fundamentals & highlights listed below to select the best trading software in India based on your requirements.

Online Brokers

Brokers are either full-service or discount. Full-service brokers, as the name implies, give the full range of traditional brokerage services, including financial advice for retirement, healthcare, and everything related to money. They usually only deal with higher-net-worth clients, and they can charge substantial fees, including a percentage of your transactions, a percentage of your assets they manage, and sometimes, a yearly membership fee. It’s common to see minimum account sizes of $25,000 and up at full-service brokerages. Still, traditional brokers justify their high fees by giving advice detailed to your needs.

Discount brokers used to be the exception, but now they’re the norm. Discount online brokers give you tools to select and place your own transactions, and many of them also offer a set-it-and-forget-it robo-advisory service too. As the space of financial services has progressed in the 21st century, online brokers have added more features, including educational materials on their sites and mobile apps.

In addition, although there are a number of discount brokers with no (or very low) minimum deposit restrictions, you may be faced with other restrictions, and certain fees are charged to accounts that don’t have a minimum deposit. This is something an investor should take into account if they want to invest in stocks.

Types of Trading Platforms in India

When it comes to performing seamless stock trading without encountering the barriers of time and distance, the use of online trading platforms for trading in stocks is quite evident. One can do online trading through 3 basic interface that is given below.

There are primarily three types of online trading platform in India that are used by traders and investors.

  • Mobile-based
  • Browser-based
  • Desktop-based
  1. Mobile-based/Mobile App

As its name indicates, this type of trading platform is one that can be accessed through smartphones. Over the years, the rapid penetration of mobile devices in India has made this trading platform the best online trading platform in India. The major reasons are ease in usage, portability, and no physical barriers.

  1. Browser-based/Web

A browser-based trading platform is the one that can be accessed on a web browser like Internet Explorer, Mozilla Firefox, and Google Chrome. This platform is very useful in scenarios where access to smartphones and desktops is not accessible.

For example, if you are away from home and not carrying your laptop, your trading account can be accessed through a web browser. It has been usually believed that this type of trading platform is a bit slower than a desktop-based trading platform.

3. Desktop-based

This type of platform can be downloaded and installed on a desktop or laptop. If you are among those traders/investors who prefer to place quick buy/sell orders, this is certainly the best trading platform in India you can use.

The best thing about this trading platform is that a user can use shortcut keys to perform different activities like F1 to buy and F2 to sell etc.

Fundamental characteristics of a best trading platform In India

  • Quick continuous execution
  • Front line and sharp innovative highlights
  • Top-level security
  • Simple to-utilize interface
  • Simple arrangement of exchanges.

List of Best Trading Platforms in India :-

  • Zerodha Kite
  • Upstox Pro
  • FYERS ONE
  • Sharekhan Trade Tiger
  • Angel Broking Speed Pro
  • Trade Station
  • Trade Eye
  • Trade Racer
  • Trader Terminal (TT)
  • NSE Now

Top Trading Platforms with their rankings –

Trading PlatformBrokerRank
Zerodha KiteZerodha1
Upstox ProUpstox2
FYERS ONEFYERS Securities3
Trade TigerSharekhan4
Speed ProAngel Broking5
Trade Station5Paisa6
Trade EyeWisdom Capital7
Trade RacerICICI Direct8
Trader Terminal (TT)India Infoline9
NSE NowNSE10

Are you looking for the best trading platform in India? If yes, the below description of each popular stock trading platform would help you understand better and take decisions accordingly.

Zerodha Kite

Zerodha Kite is the flagship trading platform by Zerodha, a leading discount broker in India. Considered one of the best trading platform in India, it is built using next-gen technology to match the diverse needs of all types of investors. The platforms offer a wide assortment of features like charting tools, data widgets, integration with third-party apps, etc., to make trading simple and quick.

Pros

  • Multiple Market Watch
  • Comprehensive charting with more than 100 indicators and 6 chart categories
  • Floating Order window
  • Progressive order types such as Brackets with trigger entry and cover with limit entry
  • Unified instrument search for quick search over 90,000 stocks and F&O contracts
  • Live ticks, quotes, and order alerts
  • Seamless integration with Quant tool for carrying out fundamental analysis using behavior analytics
  • Mixing with other investment apps built by Zerodha partners

Cons

  • No scope for strategy back testing
  • Separate back office with the name Zerodha Q

Upstox Pro

This is another best trading software in India by Upstox, earlier known as RKSV. Being a responsive trading application, there is no need to download or install the app. Moreover, it allows a user to directly access the trading tools through a laptop, desktop, mobile, or tablet.

Considered one of the best trading platform in India among traders and investors, the application strives to make online trading a lot easier and quicker for users.

Pros

  • Unified search tool to discover easy and complex stocks
  • Contact predefined watch-list of Nifty 50 and other indices
  • Reach NSE cash, Futures and Options, and Currencies scrips
  • Apply 100+ technical indicators on real-time charts
  • Define unlimited price alerts for quick updates
  • Build an unlimited number of customized watchlists
  • Advanced charting tools that benchmark industry standards
  • Get real-time market info to stay ahead

Cons

  • The technical support is not up to the mark
  • Limited features in comparison to its counterparts.
  • The desktop terminal of Upstox needs high speed and stable internet connectivity.
  • Call and Trade facilities are chargeable; instead, Upstox charges Rs 20 when placed an order through the phone.

Conclusion

The stock market is a lucrative means of investing and can generate high returns, provided you follow the aforementioned principles carefully. Keeping these tips in mind, you can begin your foray into investing in the stock market.

FAQs About Best Trading Platform in India

Ques- Which is the best trading platform in India?

Answer- Zerodha is the best online trading platform in India currently operating in stock broking scenario. Zerodha continuously pushes innovation in its products and provides traders with the required set of products and services. Zerodha’s, besides the lowest brokerage rates, boasts of a full-fledged arsenal of trade products and allied services.

Ques- Which stock brokers are believed to offer the best research, advisory, and stock tips facility?

Answer- IIFL which is an acronym for India Infoline is widely accepted by traders as the one which offers the best advisory and tip facility. This fact is strengthened by the company’s accurate stock predictions in the past.

Ques- Which stock broking firm is considered India’s best full-service stock broker?

Answer- According to trade experts, Angel Broking is the country’s best full-service stock broker. Angel Broking offers the most affordable brokerage across all the tradeable products. Angel Broking offers best online trading platform in India, and impart a smooth trading experience to its traders.

Ques-What factors make a stock broking firm become the best in India?

Answer- Many stock broking companies try to deliver top-notch trading and stock advisory services to the customers, but only a few of them are able to perfectly stand-out. We sight low brokerages, an easy-to-use interface, and varied platform presence as some of the most important features of an excellent stock broking firm.

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