In the field of online stock trading, the role of a trading platform is paramount. Today, a large number of traders and investors employ high-end technology to trade in stocks. From buying or selling the stocks to viewing real-time market conditions, there are tons of activities that a user can do using the best trading platform in India. Today, almost every stockbroker offers access to a trading platform that allows a trader or investor to carry out various jobs related to stock trading.
Whether you’re a beginner or an experienced one, the functionality of a trading platform matters a lot. Therefore, one should be extremely cautious while choosing the best trading platform in India. There are lots of factors that must be kept in mind while consulting the top 10 stock brokers in India and its trading platform. So, let’s know what to consider in this.
1.User-friendly interface – If you are using a trading platform, you are not interacting with a human being but a machine that behaves in a certain pattern as you want it to. This is why it is necessary to have a user-friendly interface that is easy to understand for a beginner.
Even for an experienced trader or investor, user-interface is of great importance as these systems keep changing from time to time. And it is necessary that a user stays aware of the same so as to make the most out of the trading application.
2.Reliability and Security – When choosing the best trading platform in India, you must ensure it supports the financial tools and avenues you are looking to deal with. There are platforms that are more suitable for folks who are looking to trade-in equity or currency.
Others support a wider band of market options including commodities, futures, bonds, stocks, and options. Such platforms are thought to be a better option for people who are looking to expand their trading portfolios. Those interested in algorithmic trading should ensure their software of choice is compatible with this option, to start with.
3.Customer Support – No matter how advanced a trading platform is, problems tend to occur on various fronts. This is where having trustworthy customer support is necessary. Before you finalize a platform, make sure you check all the customer service touchpoints like web chat, toll-free number, email support and dedicated line. The availability of customer support should also be kept in mind.
4.Charges – The price and any potential charges for using it are value-checking out in the initial stage. If a particular trading software is linked with higher costs, these can speedily eat into the earnings you get while trading the markets. This is expressly valid for folks who prefer to take the scalping approach where various short-term positions are disclosed and settled within a single trading day.
Such people will never generate enough earnings if the costs related to using the trading software are too big. However, some of the most popular and widely chosen trading platforms can be downloaded for free.
FAQs
1) Do all trading platforms levy charges?
Not all trading platform levy charges. Some come with hidden charges too. So, make sure to gain clarity on this before proceeding further.
2) What are the leading trading platforms in India?
Some of the best trading platforms in India are Zerodha Kita, Upstox Pro, 5Paisa Trade Station, NSE Now, and many more.
3) What is two-factor authentication (2FA)?
Two-factor authentication, or 2FA, will be progressively familiar to those who use online banking or make payments through the web. It involves getting a one-time password (OTP) from your bank, and entering that OTP when asked when you log into your account or making an online payment.
4) What to do if I forget my login password?
There is nothing to worry about as you just need to contact your respective stock broker who will help you in retrieving the password.