Are you looking for the best trading platform in India? In this post, I will share India's ten most reliable trading platforms, along with their charges, features, pros, and cons. By the time you reach the end of the post, you should be able to find the best trading platform in India for your requirements.

Zerodha

Two brothers, Nithin and Nikhil Kamath, founded Zerodha in 2010 and changed the perception of online trading in India forever, encouraging more and more people to start online trading. Since its inception, Zerodha has been a reliable platform for trading and investment with a clean, secure, and smooth interface.

Zerodha Features

  • Zerodha allows investment and trading in stocks, IPOs, Direct mutual funds, Derivatives, and Bonds
  • ₹200 for account opening and ₹300 for AMC
  • Zero charges on Equity Delivery and Mutual Fund
  • ₹20 or 0.03% (whichever is lower) per executed order on Equity Intraday, F&O, and Commodity
  • Zerodha's trading app, Kite available on Android, iOS, and Web
  • Multiple watchlists and Multiple order types, including GTT
  • Option to choose between Tradingview and ChartIQ charts
  • Advanced features such as Graphical P&L, KillSwitch, and Sensibull integration
  • Support through phone & tickets

Pros

  • Reliable, clean, and fast trading apps across Android, iOS, and Web
  • Zero brokerage on Equity Delivery and Minimal brokerage on others
  • Multiple Order types, including GTT
  • Tradingview and ChartIQ charts with multiple timeframes and over 100 indicators
  • Beautiful P&L statement, Sensibull integration, and KillSwitch

Cons

  • Account opening is not free
  • The phone support process is lengthy and requires support code
  • Many glitches since 2023

Upstox

Upstox was founded in 2009 in Delhi and was initially known as RKSV. The company is headquartered in Mumbai and is a reliable trading and investment platform with a large customer base. Most importantly, the platform is backed by investors like Ratan Tata.

Upstox Features

  • Supports Stocks, IPOs, Mutual Funds, Derivatives
  • Seamless account opening and Instant withdrawals
  • ₹249 for account opening and Zero AMC
  • ₹0 brokerages on Mutual Funds and IPOs
  • ₹20 or 2.5%, whichever is lower on Equity Delivery
  • ₹20 per executed order or 0.05% (whichever is lower) on Equity Intraday and Equity F&O
  • Leverage trading on Equity Intraday and Equity Futures available
  • Smooth and secure trading apps across Android, iOS, and the Web backed by 2fa authentication
  • Trading apps come with Tradingview and ChartIQ charts
  • Multiple timeframes, Multiple Order types, and +100 indicators
  • Ready-made Options Strategy and Sensibull integration
  • Responsive support through live chat, phone, and tickets

Pros

  • Zero Annual Maintenance Charge
  • Leverage trading available
  • Fast and secure trading apps
  • Free fundamental analysis on all stocks and indices
  • Sensibull integration for backtesting strategies
  • Ready-made Options Strategy and Option Chain data
  • Best customer support in the industry

Cons

  • Account opening is not free
  • Charges brokerage on Equity Delivery
  • The web app is slow

Angel One

Angel One is one of the oldest trading platforms and has been around since 1996. However, it took many years for the platform to get noticed. Over the years, the trading and investment platform has received many prestigious awards.

Angel One Features

  • Zero charges on account opening
  • Supports trading and investing in Stocks, IPO, F&O, Mutual Funds, Commodities, and US Stocks
  • Free investment tips from experts
  • ₹20 +tax per month for Annual Maintenance
  • ₹0 brokerages on Equity Delivery
  • ₹20 flat brokerages per order for Intraday F&O, Currencies, and Commodities
  • Free Trading applications across mobile, Web, and desktop
  • Support through phone and FAQs

Pros

  • No charges for account opening
  • No brokerage on Equity Delivery and minimal brokerage on others
  • Wide variety of investment options, including Stocks, IPO, F&O, Mutual Funds, Commodities, and US Stocks
  • Free investment advisory service
  • Decent trading applications across mobile, desktop, and Web
  • Powerful free tools for market analysis

Cons

  • Trading in SME stocks is not allowed
  • The GTT order feature is still missing

5Paisa

5Paisa is a SEBI-registered discount broking platform that was founded in 2016. The company is headquartered in Thane, Maharashtra, and is undoubtedly a popular trading platform in India. The platform offers much room for money management through its offers and super saver packs.

5Paisa Features

  • Free and paperless account Opening
  • Allows investment in stocks, mutual funds, commodities, and currency
  • ₹300 for Annual Maintenance
  • A minimal brokerage of ₹20 on all trades
  • ₹0 per order on Equity Delivery & ₹10 per trade on Intraday and F&O with the Super Saver Packs
  • Brokerage Cashback up to ₹1000 per month
  • Free trading APIs integration with leading investment platforms such as Smallcase, Streak, Sensibull, and Quicko
  • Excellent trading applications across mobile, Web, and desktop
  • Algo trading and Robo advisory services are available

Pros

  • Account opening is free
  • Super Saver Packs and Brokerage Cashback
  • Free trading APIs
  • Algo trading and Robo advisory services
  • Free and smooth trading applications across all device platforms
  • Good documentation and educational resources

Cons

  • Offers customers margin funding without their notice
  • Demat debit transaction charges are high

ICICIDirect

ICICIDirect is a subsidiary of ICICI Bank Ltd, founded in 1995 and headquartered in Mumbai. The platform has over 50 products and services like Equity, Mutual Funds, IPOs, Derivatives, F&O Currency, commodities, ETFs, and Insurance. Further, the platform has a dedicated research desk to provide customers with different Research-based products.

ICICIDirect Features

  • Zero charges on account opening
  • 3-in-1 account model: a bank account, a trading account, and a demat account
  • ₹300 for Demat Account Annual Maintenance
  • Leverage trading available on Intraday and Delivery
  • Zero brokerage on Equity Futures 
  • ₹20 per trade on Equity Intraday and F&O
  • Offers different brokerage structures through four different pricing
  • Free trading applications on all device platforms, including desktop

Pros

  • Account opening is free
  • The 3-in-1 account model offers seamless and fast deposits and withdrawals
  • Leverage trading available
  • Zero brokerage on Equity Futures
  • Different brokerage plans to choose from
  • Excellent trading applications across all devices
  • Low bandwidth mobile application for slow Internet connection

Cons

  • Brokerage is high compared to other platforms
  • Customer support is not responsive

Paytm Money

Paytm Money is a subsidiary of Paytm and was established in 2017. The platform started with the motive to make investing simple and transparent for everyone. It has over 14 million users, and the platform allows you to invest in Stocks, Mutual Funds, NPS Retirement Funds, and IPOs. Besides, the platform supports F&O trading.

Paytm Money Features

  • ₹200 for account opening
  • Zero Annual Maintenance Charges
  • ₹300 per year for usage of the Cash segment on the Paytm Money mobile application
  • Decent trading application across mobile and web application
  • Tradingview and ChartIQ charts with multiple layouts and over 100 indicators
  • Leverage trading is available with up to 5x leverage
  • A brokerage of ₹15 or 2.5% of turnover (whichever is lower) on Equity Delivery
  • ₹15 or 0.5% of turnover (whichever is lower) per executed order on Equity Intraday,
  • ₹15 or 0.2% of turnover (whichever is lower) per executed order on F&O
  • Support through tickets

Pros

  • Easy and self-explanatory account opening process
  • Lower brokerage than other leading discount broking platforms
  • Zero Annual Maintenance charge
  • Up to 5x leverage on Equity Intraday
  • Option to choose between Tradingview and ChartIQ

Cons

  • ₹300 per year for the mobile application
  • Customer support is limited to tickets

Sharekhan

Sharekhan was founded in 2000, and the platform had a massive contribution to making online trading popular in India. There was a time when Sharekhan ads on TV would catch my attention even though I was utterly oblivious to trading and investing. Back then, there was hardly any other online trading platform.

Sharekhan Features

  • Zero account Opening charges
  • Free Research for all segments
  • Brokerage of 5 paise per share for Intraday & 10 paise per share on Delivery
  • 0.10% on the first leg for F&O
  • Trading applications across mobile, Web, and desktop
  • Low bandwidth app for slow internet
  • Trade Tiger trading interface +30 indicators
  • SIP Calculator, Options Calculator, and many Market analysis tools

Pros

  • Zero charges on account opening
  • Free Research and Market Analysis tools
  • Good trading applications across all device platforms with zero downtime
  • Low bandwidth application for slow internet
  • Call & trade is free
  • Decent live chat support

Cons

  • High brokerage charges
  • No option for Mutual Fund investment

IIFL Securities

IIFL Securities was incorporated in 1996 and has a vast customer base in India. The platform is based on cutting-edge technology. IIFL offers excellent research-based advisory services for Stocks, IPOs, Derivatives, Commodities, FDs, Insurance, and Bonds.

IIFL Securities Features

  • Free Account opening
  • Demat Annual Maintenance Charge of ₹250
  • Allows trading in Stocks, IPOs, Derivatives, Commodities, FDs, Insurance, and Bonds
  • ₹250 for Demat Account Maintenance
  • A brokerage of ₹20 per order for all segments
  • Trading applications across Android, iOS, Web, and Desktop
  • IIFL Mutual Funds App for Android and iOS
  • Advanced order types like Valid till Date (VTD)

Pros

  • Zero Account Opening Charges
  • No AMC for the first year
  • Minimal brokerage and transparent pricing
  • Decent trading applications on all device platforms
  • Dedicated Application for Mutual Funds
  • Different order types, including Valid till Date (VTD) order
  • Equity and MF research and recommendation services for no additional cost

Cons

  • Margin trading is enabled without customers' notice sometimes
  • No option to invest in Direct Mutual Funds

Nuvama Wealth

Nuvama Wealth was incorporated in 2008 and was formerly known as Edelweiss Broking Limited. The platform is highly technology-driven and is ideal for both trading and investment.

Nuvama Wealth Features

  • Zero Account Opening charges
  • Products include Stocks, Mutual Funds, Derivatives, Commodities, Currency, and Insurance
  • No AMC for the first year; ₹500 from the second year onward
  • Investment advisory service available
  • Flat ₹10 per executed order for all segments
  • Decent trading applications on mobile, desktop
  • Markets and economy insights
  • Support through Chat, Phone, and Email

Pros

  • No charges on account opening
  • Zero AMC for the first year
  • Lower brokerage than other leading platforms
  • Powerful trading applications on mobile and desktop
  • Free markets and economy insights
  • Decent support through chat, phone, and email

Cons

  • AMC is ₹500, which is high

Dhan

Dhan is a SEBI-registered investment and trading platform for long-term investors and super traders. The platform comes with many trading and investment products, such as Stocks, IPOs, Mutual Funds, F&O, ETFs, Currency, and Commodities. Dhan is India's fastest-growing trading platform, with a user base of 86,715 till January 2023.

Dhan Features

  • Zero account Opening charges and Zero AMC
  • Trading and investment products include Stocks, IPOs, Mutual Funds, F&O, ETFs, Currency, and Commodities.
  • ₹0 brokerage charges on Equity Delivery Brokerage
  • ₹20 or 0.03% of the trade value per executed order on Equity Intraday, and All Segment Futures
  • ₹20 Brokerage for All Segment Options
  • Leverage trading available
  • Support through Chat, Phone, and Email
  • Decent trading applications across all device platforms
  • Tradingview & ChartIQ charts
  • Free APIs
  • Trader's Diary plus graphical P&L

Pros

  • Zero account Opening charge & AMC
  • No brokerage on Equity Delivery
  • Excellent trading applications across all device platforms
  • Integration with external Tradingview chart
  • Free APIs for Algo Platforms, Fintechs, Banks, Stock Broker & PMS
  • Margin Trading Facility
  • Trader's Diary and graphical P&L
  • Excellent support through chat, phone, and email

Cons

  • Too advanced for beginners

Factors to keep in mind while choosing a trading platform in India

I have listed a few essential factors that you need to keep in mind while choosing a trading platform and here are the factors:

  • Account Opening charges and AMC
  • Deposits and withdrawals process
  • Financial instruments
  • Brokerage and demat transaction charges
  • Trading interface across multiple device platforms
  • Order execution time
  • Multiple order types and multiple timeframes
  • 2-Factor Authentication
  • Customer support

FAQ

Which platform is the best trading platform in India?

There are many reliable trading platforms in India, and the perception of the best trading platform in India may differ from trader to trader. Here are some of India's most reliable trading platforms based on the trading platform and brokerage structure.

  • Zerodha
  • Upstox
  • Dhan
  • 5Paisa
  • Angel One
  • Paytm Money

What is the safest trading platform in India?

The aspect of safety must be taken very seriously where Money is involved, and the same holds true for trading platforms. You must only trade on a platform when you are sure it's 100% safe.

One important thing to look for is 2-factor authentication when looking for a trading platform. Here are some of the safest trading platforms:

  • Zerodha
  • Upstox
  • Dhan
  • Angel One
  • Paytm Money
  • 5Paisa

Which broker is the best for beginners?

If you are a beginner, Zerodha will be a good platform for you since the platform comes with a clean and self-explanatory interface and decent security backed by 2fa authentication. Besides, Zerodha's features, such as graphical P&L and KillSwitch, can be highly useful for beginners. Further, the platform offers transparent pricing and charges minimal brokerage.

Conclusion

With so many trading platforms around, finding the best trading platform in India is easy now. However, reliability always plays a crucial role when looking for a good trading platform. I have presented you with ten of the most reliable trading platforms with their pros and cons to give you good clarity on them.

The right trading platform for me may not be the right trading platform for you since it depends a lot on your actual requirements. I have also walked you through the essential factors you need to consider while choosing a trading platform in India. Hence, you can go through the features, pros, and cons of the ten trading platforms over and over to find the right trading platform for your trading needs.

FAQs

What is stock trading and how can I get started? 

Stock trading involves buying and selling shares of publicly listed companies. To begin, you can explore platforms like Upstox Pro, Interactive Brokers, and HDFC Securities that offer user-friendly interfaces for seamless trading.

What is Upstox Pro and how does it enhance trading? 

Upstox Pro is a trading platform that provides a range of features including real-time data, advanced charting, and technical indicators. It's designed to assist traders in making informed decisions.

Can you explain the benefits of paper trading? 

Paper trading allows you to simulate trading without using real money. It's a great way to practice strategies and test your skills. Several platforms, including TD Ameritrade, offer paper trading features.

How can I identify the best broker for my needs? 

Identifying the best broker involves considering factors such as trading fees, available markets, research tools, and customer support. Popular options include Motilal Oswal and Interactive Brokers.

What is options trading and how does it work? 

Options trading involves trading contracts that give you the right (but not the obligation) to buy or sell assets at a predetermined price. Platforms with options trading capabilities, like TD Ameritrade, can guide you through this complex strategy.

What is intraday trading and what are some platforms that support it? 

Intraday trading involves buying and selling securities within the same trading day. Several platforms, including Upstox Pro and HDFC Securities, cater to intraday traders.

Leave a Reply

Your email address will not be published. Required fields are marked *