After the Covid-19 pandemic, the Indian economy displayed remarkable resilience and recovery. It is now one of the fastest-growing economies in the world. The share of retail investors with respect to NSE equity holding reached an all-time high of 27% YoY in 2023. BSE data also shows a 24% YoY increase in the number of registered investors. All this points to a renewed interest in equity investing.
If you are new to investing and wondering which is the best investment app you can use to begin your wealth-building journey, this blog will help you.
Role of Investment Apps
The investment landscape has undergone a major evolution due to mobile investment apps. These apps provide instant access to the previously mysterious Indian stock market. Professional traders and investors with deep technical knowledge about the workings of the stock market were the main participants a few years ago.
Now, novice investors and someone as young as 18 can start investing with a few clicks and swipes on their mobile phones with a free demat account with no annual charges. You can explore investment opportunities, execute trades, and monitor your portfolios using your smartphone. The user-friendly app interfaces, real-time market data access, and many investment options have empowered a new generation of retail investors to participate actively in the financial market.
Factors to Select the Best Investment Apps for Beginners
Multiple trading and investing apps in India are tailored for different types of users. As a novice investor, you must understand that trading differs from investing. Traders aim to profit from small changes in price movements and typically hold stocks for less than a day. On the other hand, investors have a long-term perspective but hold on to stocks for much longer, aiming for better yields over the years. Typically, trading and investing both involve executing buy and sell orders. Some of the factors you must consider before choosing a financial app for investment are:
- Intuitive Interface – The app must have a user-friendly interface that facilitates easy navigation and seamless access to all its features. You must be able to manage your account hassle-free with an easy process for executing trades.
- Diverse Investment Avenues – The app should allow you to explore various investment opportunities like stocks, bonds, mutual funds, ETFs, etc. This way, you can diversify your portfolio and manage all your investments using the same app. Some apps may also offer access to IPOs so that you can subscribe to companies before they are publicly listed.
- Research Tools – Investors can find the best opportunities only through detailed technical and company analysis. The app you choose must offer tools for market analysis with plenty of educational resources.
- AI Advisory and Automation Services – Beginners generally spend several hours analysing whether an investment opportunity is good. AI-powered platforms make this job easier, allowing analysis to be completed within seconds. Robo advisory apps suggest the best investment options based on your chosen criteria. These automation services eliminate the complexity of equity investing.
- Fees – The fee structure of an investment app is a crucial factor for beginners when selecting an investment app. Higher fees and commissions can erode your investment returns. Choosing a trading app with zero brokerage will help you save on commissions to maximise your profits.
- Security – The investment platform you choose must be SEBI-regulated to ensure you only deal with regulated brokers. Compliance with regulatory bodies offers investors peace of mind.
- Customer Support – As a beginner investor, you will have many questions about investing and using the app. Choose a platform that offers excellent customer support. Now, many investment apps offer customer support via WhatsApp so that you can get quick answers to your questions in your native language.
The choice of investment apps is critical for a secure and hassle-free investment experience. The right mobile app will help you make data-driven investment decisions and execute trades in real time. The ease of use of investment apps encourages you to stay invested, which is key to wealth-building.
Best Investment Apps
Here is a comparison of some of the top investment apps in India:
| App | Features |
| Upstox | Seamless and intuitive design
Investments in stocks, derivatives, commodities, mutual funds, etc. Advanced charting tools Margin trading facilities |
| Zerodha | Extensive investment options like equities, commodities, currencies, mutual funds, and bonds
Invest directly in mutual funds with no commission fees using the Coin platform Technology-driven portfolio tracking Plenty of educational resources |
| Angle One Broking | Robust trading platform with in-depth research tools
Personal advisory services for tailored investment recommendations AI-powered investment engine that integrates advisory and trading |
| Paytm Money | Multiple investment products like direct mutual funds, equities, digital gold, ETFs, etc.
Advanced analytical tools and an intuitive interface Paperless investing through digital KYC |
| Groww | Investment products include mutual funds, stocks, gold, ETFs
Minimum investment requirement of just Rs. 100 Partnership with leading financial institutions for diversified investment options |
Conclusion
Many more investment apps, like 5Paisa, Kuvera, INDMoney, Dhan, FYERS, Nuvama, etc., offer similar features. While you focus on lowering your investment costs, choosing a platform based on fees and commissions alone is not correct. The platform you choose must offer seamless access to a wide variety of investment options so that you can diversify your portfolio and manage risks effectively. Also, a lifetime free demat account will offer cost savings. Even if you use robo-advisory services, use educational resources to equip yourself with all the information you need to make the best investment decisions.
FAQs
- Is it legal to invest using online investment apps?
Yes, it is legal in India to use investment apps to invest in the stock market. However, ensure that the app you choose is regulated by financial bodies in India. This ensures protection for investors through fair trading practices.
- Do I need a lot of money to start investing?
No, the main reason for the popularity of investment apps is the increased accessibility with smaller investment requirements. With some apps, you can start investing with just Rs. 100.
- Do investment apps guarantee returns?
No, regardless of the channel you use for investments, investing in the equity market is inherently risky. Market volatility cannot be controlled by any app. So, thoroughly research investment options and diversify your portfolio to manage risk.
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