In the fast-paced world of finance, where every second counts and market dynamics shift in the blink of an eye, new-age trading apps have become the linchpin of success for investors and traders. These digital marvels are far more than just applications; they are the gateways to the global financial landscape. Designed to provide a seamless, convenient, and efficient trading experience for users of all levels of expertise, modern trading apps are changing how we interact with financial markets.
Gone are the days of laborious paperwork and endless phone calls to brokers. Today, trading apps put the power of the financial world in the palm of your hand. Whether you’re a seasoned investor or just dipping your toes into the world of trading, these apps offer a comprehensive suite of features and tools that go beyond traditional methods. In this article, we will discuss the top 7 features that modern trading apps must have to enable a seamless and enriching investment journey for users.
- Zero or discount brokerage: One of key features that modern trading apps must have is the provision for zero or discount brokerage for trading in various segments. This helps users save on transaction costs and increase their returns. For example, Shoonya by Finvasia offers zero brokerage on all intraday and delivery trades on NSE, BSE, MCX and NCDEX. Similarly, Zerodha charges only ₹20 per trade on intraday and futures and options (F&O).
- User-friendly interface and design: A modern trading app should have a user-friendly interface and design that makes it easy to navigate, search, and execute trades. The app should also have a sleek and elegant look that enhances the visual appeal and user experience. For example, Super App by Angel One offers live scans, free research, advanced charting, smart portfolio analyser, and more features for investors and traders. Similarly, Shoonya by Finvasia has a simple and intuitive UI that provides access to multiple segments and exchanges from a single platform.
- Diversified investment options: The availability of diversified investment options allows users to invest in various instruments across different segments such as equity, derivatives, mutual funds, IPOs, commodities, currencies, US stocks, etc. Advanced trading apps should offer features such as direct mutual funds, SIP mode for stocks and mutual funds, etc. to help users build a balanced and diversified portfolio. For example, with Groww, investors can explore stocks, intraday, mutual funds, SIPs, F&O, and more. Similarly, Shoonya by Finvasia offers access to mutual funds, equity, derivatives, bonds and ETFs, commodities and currencies.
- Advanced charting and analysis tools: Another factor that makes a trading app the perfect investment partner is the availability of advanced charting and analysis tools that help users perform technical analysis, identify trends, patterns, and signals, and make informed trading decisions. Such apps should offer a variety of indicators, studies, tools, and chart types to suit different trading styles and preferences. For example, Shoonya by Finvasia is the first to offer AI-powered predictive analytics for stock market that helps users find the best investment opportunities. Similarly, Zerodha offers a host of indicators, studies, and tools on a customizable charting interface with extensive historical data.
- Multiple order types and features: With multiple order types and features that allow users to execute trades according to their risk-reward profile, market conditions, and trading objectives, modern trading apps can open up new avenues for investment. They must provide features such as margin trading facilities, basket orders, alerts, smart orders, etc. to enhance trading efficiency and convenience. For example, Groww by Nextbillion Technology offers market, limit, and stop-loss orders, BTST (Buy Today Sell Tomorrow) facility, IPO (Initial Public Offering) subscription, ETFs (Exchange Traded Funds) investment, etc. Angel One offers limit order, market order, stop-loss order, robo order, cover order, GTT (Good till Triggered) order, etc. Likewise, Shoonya by Finvasia offers margin on option buying, a full suite of APIs to enhance investment capabilities, PRISM (custom client portal), SMART (mutual fund analyzer), etc. Likewise, Kite by Zerodha offers GTT (Good till Triggered) orders, OCO (One Cancels Other) orders, basket orders with real-time margins, etc.
- Security and reliability: Modern trading apps must ensure security and reliability of the user’s data, funds, and transactions by complying with the regulatory framework and standards of the relevant authorities and exchanges. For example, Shoonya by Finvasia complies with the security framework levied by SEBI and uses 256-bit encryption for data transmission. Similarly, Zerodha complies with the security framework levied by SEBI and uses 2-Factor authentication and OTP based login.
- Educational resources and support: Helping users learn about the stock market, trading strategies, investment products, etc. is another feature that a modern trading app should have. The app should also offer customer support through various channels such as phone, email, chat, etc. to resolve any queries or issues that the users may face while using the app. For example, Upstox offers free online stock trading courses on UpLearn, a platform that provides structured lessons for beginners, investors, and traders. Users can also access informative content on various topics related to share market investing, such as long-term investing, fundamental investing, technical trading, F&O trading, and more. Shoonya by Finvasia also offers educational resources to users in the form of YouTube videos and website blogs on various topics related to stock market investing.
Modern trading apps hold the power to redefine the way we engage with financial markets. With their user-friendly interfaces, diversified investment options, advanced analysis tools, and commitment to security and reliability, they have become indispensable tools for investors and traders alike. These apps not only provide a gateway to financial success but also offer a wealth of educational resources and support, empowering users to make informed decisions and navigate the complexities of the stock market.
As the financial world continues to evolve, trading apps will undoubtedly play an even more prominent role. They will adapt to meet the changing needs of investors, providing innovative solutions and cutting-edge features. In this dynamic environment, one thing remains constant: the importance of staying informed and making sound investment choices. Modern trading apps are here to facilitate that journey, offering a helping hand to investors and traders as they navigate the ever-shifting currents of the financial world. So, whether you’re a seasoned pro or just starting your investment journey, these apps are your steadfast companions on the path to financial success.