Free Trading Apps

Trading in the stock market gives you the chance to earn money but what impacts a trader the most is the brokerage and other fees. But what if you are provided with free trading apps?

Yes, there are a few brokers that offer you the experience to trade using their trading platforms for free. In this article, check the list of top-performing apps provided by the renowned stockbroker and know how you can access these platforms.

Free Trading Apps In India

Now before moving ahead, here is a question! Does it impose fees for downloading the trading app?

No, it is available for free on the Play Store and App store.

Then what differentiates free trading apps from other mobile trading apps in India? Well, it is the brokerage fees or trading fees charged for trading in a particular segment. 

Now free trading apps simply mean using the trading platform to trade at zero cost. Yes, such apps do exist and offer you the benefit of doing unlimited trading without worrying about any kind of cost or charges.

Here we have enlisted the 3 best trading apps in India offering zero brokerage services to their clients.

1. Kotak Securities Mobile App

Kotak Securities is a bank-based stockbroker that keeps on coming up with attractive brokerage plans for its clients. Currently, the broker introduced the Zero brokerage plan for clients under the age of 30 years to trade in all the segments for free.

Here to activate this plan you need to pay one-time subscription fees equal to ₹299. This plan comes with a validity of 2 years thus providing the benefit to the youngsters to reap the benefit of free trading apps. In all, it is one of the best trading apps for students who want to begin their trading and investment journey in the stock market. 

 

Some of the features of the app are:

• Quick and easy way to track orders.
• Secure way to transfer funds online using multiple options.
• Real-time updates on market and market news.
• Research tips and recommendations that help beginners in making an investment and trading decision.
• Easy management and tracking of the portfolio.
• Multiple chart features give you the market view and help you stay ahead in terms of investment.
• The radial navigation feature in the app is something that offers a smooth and intuitive experience in trading.

No doubt the app has much to offer but like any other app, there are a few glitches in the Kotak Securities app too, like:

• The app does not provide any detail on futures and options trading.
• There is no detail of the rejected order.
• The app is slow when it comes to chart loading and other features of the app.
• The option chain is quite basic and does not give any detail on Greeks and other advanced parameters.

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2. M Stock App

M Stock from South Korean giant Mirae Asset has entered the Indian stock market in April 2022 and is continuously growing in terms of products, services, and clients. 

Its trading app is available both on the Apple store and Google Playstore. You can access the app simply by opening an M Stock Demat account. Now to use this app for free i.e. to trade across segments without paying any brokerage, the broker comes with an ₹999 plan where one has to pay the one-time subscription fees at the time of account opening and reap the benefit of free trading. 

 

Here are the features of the mStock Trading App.

• The simple user interface makes it easy to navigate between different options in the app.
• The search bar at the top of the app makes it easy to search the scrips for trading.
• The ‘Stock Screener’ features allow a trader to sort the stock on the basis of market cap, current price, etc. 
• You can create 10 watchlists in the stock app with the option of adding a maximum of 50 scrips per watchlist.
• The app has in-built informative data which helps a trader in fundamental and technical analysis of a stock.
• Buy and sell buttons available on the chart allows a trader to execute a trade directly from the chart.
•  The app can access major Indian and world stock market indices with the ‘Market Feature’.
• The ‘Report Feature’ in the app allows a trader to view the fund, summary, ledger, trade history, and contract notes.
• The app chart is integrated with Tradingview Web Terminal’ which enables a trader to use multiple charts and indicators for technical analysis. 

Along with this, there are some disadvantages of using the app like:

• Session expiration after a few minutes
• No in-build technical charts or indicators.

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3. Shoonya App

 Finvasia’s Shoonya trading app allows you to do stock trading without any brokerage in every trade segment whether it be intraday, delivery, etc. Also, opening a Demat account with Finvasia is absolutely free. 

The app is available for Android and iOS smartphones. An additional surprise is you don’t have to pay any fee for trading or for opening a Finvasia demat account.

 

Here is the detailed feature list of the Shoonya Finvasia app:

• A trader can create customizable watchlists and add multiple scrips.
• The app has, a live index located at the top of watchlists. A trader can switch between different stock market indices. 
• One of the best features of the app is, that you can place a trade directly from scrip. You can buy or sell by swiping left on the scrip.
• You can shift between app windows just by a swipe.
• One-click pay-in and pay-out have made deposits and withdrawals very easy.
• The ‘Save View’ feature allows you to save current studies and tools used in charts for future reference.
• You can place a trade from a chart directly. Buy and Sell buttons are provided below the chart allowing you to do this.
• App’s ‘Status of the position’ feature shows the red and green line next to a scrip. If a trader holds a position and has added the scrip to his watchlist, the status of the position is shown by a green and red line. The green for profit and the red for loss.

Although the app offers multiple features there are a few drawbacks associated with the usage of the app:

• No advance or basket order feature is available for options trading.
• There is no option to save the Order preference and chart setting in the application.
• Also, the app has too many bugs.
• Last but the not the least, most of the users face the login issue.

 

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Conclusion

You have seen the pros and cons of these free trading apps. Also, you should know that a trader pays a big sum of his profit as a brokerage which is why these trading apps are a boon for traders who want to save brokerage charges.

You can choose any of them according to your choice and start trading in the stock market.