With the advent of technology, online trading is becoming popular among investors. They prefer using trading apps for investing in stock markets.
However, there are many trading apps available in the market, which makes choosing the best trading app a challenging task. There are certain things that you need to keep in mind while selecting the trading app, which we will discuss in this article.
Price Affordability
There are a number of trading apps offered by various brokers and online platforms. Some offer free demat and trading accounts. You just need to complete the online KYC process and your account will be opened. However, while opening an account can be free, you need to compare other charges such as trading fees, AMC charges, etc. Choose the app that offers transparent pricing with the required features.
Margin Trading Facility
Margin trading facility allows you to buy more than you can afford. Under this facility, you just need to pay part of the overall transaction value as an upfront margin and you can borrow the rest from your broker. However, you may be required to pledge your existing investments to avail of this facility or use your existing cash available in the trading account. Select a trading app like Dhan that offers a margin trading facility. This will help you trade more and take advantage of the current market situation.
Margin Pledge Benefit
Under the margin pledge facility, the stockbroker lets you pledge stocks in your demat account as collateral for the funds that you borrow from them for trading under margin trade. The borrowed funds can be used to buy stocks. The pledge creation process is different for different brokers. See that the trading app you choose allows you to have the margin pledge benefit. This will help you to buy the stocks when you don’t have enough funds in your trading account.
Free Tradingview Charts
Tradingview is a financial market analysis platform. It offers various tools for fundamental and technical analysis. It allows traders to get real-time information on the stocks they want to track. Select a trading app that offers a TradingView charts free facility like Dhan. This will help you make informed decisions in stock picking. Moreover, this is free of charge for Dhan users.
Reliable Customer Support
Good and reliable customer support is necessary for online trading. When you trade online you may face technical difficulties. In such cases quick customer support is necessary. Select a trading app that provides efficient customer service. Moreover, this customer support shall be available on all channels i.e. email, chat, phone, etc.
Conclusion
Selecting the best trading app is necessary to help you achieve your investment goals. So do a proper analysis of the platform before selecting the app. Look for features like margin trade, TradingView charts, etc. in the trading app. Dhan app offers all such features and can help you achieve your investment goals.
