Stock trading has never been easier thanks to a plethora of apps that help one access different markets at the palm of their hands. Most of these apps are free to use and can be downloaded from Google Playstore or App Store, installed on your device, and you are good to go. Since the onset of COVID-19, the number of trading apps available has peaked as innovators have sought to help out people who may have lost their jobs or anyone who wished to make an extra coin.

Some of these apps are comprehensive, while others are niche-focused. Some will have all the resources needed for a trader to make the most of the app, including educational resources for traders of all skill levels. And others will go a step ahead and link an individual to a stock trading site for beginners in India.

Groww Gains Popularity

One such application is Groww, which allows users to invest in the stock market with ease. The app allows its users to open a Demat account and trade on stocks listed on BSE and NSE. The account opening process is free, and as a trader, you will only be charged when you place orders—just a small brokerage fee equivalent to 0.05% of the order value.

Launched back in 2016 to aid users in investing in mutual funds directly, Groww has recorded remarkable growth over the past four years after gaining the trust of both users and investors. The platform is backed by big investors, including Sequoia Capital, Collin West, Y Combinator, Yinglan Tan, Cypher Capital, Ribbit Capital, and Insignia Ventures Partners.

Currently, the app has over 5 million downloads on the Google Play Store with a rating of 4.5 stars. It's also on Apple’s App Store with an additional 8 million users. This app thrives in simplicity. It’s designed with traders of all skill levels in mind, and less experienced users will love it for how easy it is to navigate different aspects, place trades, get notifications, learn, and many other functions. Since it has to abide by regulations, you will be required to fill a KYC form once you sign up before you are allowed to trade. On the home screen, you will see three tabs; one for stocks, another for mutual funds, and the other for gold. When you click on each tab, you will see many options where you can invest your money.

Other Apps

Another app worth checking out if you love investing in stock and other financial instruments is Angel Broking. The app has over one million users and allows traders to open a Demat account in five simple steps and less than 15 minutes. What helps this platform stand out from the rest is its zero fees for equity delivery and low charges of Rs.20 for every order placed. Overall the app scores well on all departments, from the signup process to trading and customer support. Both experts and beginners will feel at home.

Also, some apps target young investors with very competitive offerings and brokerage fees. One such app is Paisa, which has taken the industry by storm. The platform has low brokerage charges with only 10 Rs charged per each transaction and has won the hearts of many, especially new stock traders. Some of the many perks on offer by Paisa include a flat fee per order of 10 Rupees for every transaction. The brokerage fee is also 10 Rupees, and users get to open a Demat and trading account for free, with the process being quite fast. Most importantly, the trading app ranks high among many of its peers, with many users showing a preference for this application.

After hitting record lows in March of this year, the Indian stock market has managed to bounce back thanks to trading apps, which have played a crucial role in aiding the recovery process.