Do investing/trading apps really work?

Discussion on apps for investing / trading

INVESTINGTRADINGFINANCE

Lillaney , RTI For Money

6/3/20234 min read

Kotak SecuritiesKotak Securities

We will be covering the following topics in this post.


  1. Do investing/trading apps really work?

  2. What are the investing/trading apps available in the Indian market?

  3. What can I buy through these investing/trading apps?

  4. Do these investing/trading apps provide training?

  5. Do these investing/trading apps also provide advisory services?

  6. Which are the best investing apps?

  7. Are these investing/trading apps safe/trustworthy?

  8. Can I really make money using these investing/trading apps?

  9. Who can use these investing/trading apps?

  10. How can I open an account with these investing/trading apps?

  11. Can I place GTT/SIP orders through these investing/trading apps?

  12. What are the other helpful features of these investing/trading apps for analysis?


  1. Do investing/trading apps really work?


Yes, investing apps do work and are a very convenient way to manage your portfolio in a single place. They are easy to use and can be used from anywhere there is a good internet connection.


  1. What are the investing/trading apps available in the Indian market?


Given below are some of the apps that I know about.


  1. Kotak Securities

  2. HDFC Securities

  3. ICICI Direct

  4. Angel One

  5. Upstox

  6. Zerodha


There are other apps especially in the cryptocurrency space but I have not used them personally, so I am leaving them out as it would not be right to comment on apps I have not used or seen used by my friends and family.


3. What can I buy through these investing/trading apps?


One can invest in the following asset classes through most of these apps.


  1. Shares/stocks of companies via IPO or secondary market. E.g. TCS, Infy

  2. Exchange Traded Funds more popularly known as ETFs. E.g. Nifty BEES

  3. Mutual funds. E.g. Franklin Bluechip Fund, HDFC Credit Risk Fund

  4. Currencies / Forex.E.g. USDINR, EURINR

  5. Commodities like Gold, Silver, Aluminum, Copper, etc.






4. Do these investing/trading apps provide training?


Most of these apps provide self paced learning modules inside the app itself. These are in the form of videos as well as articles which help to shorten the learning curve of the investor/trader. These training modules can help the investor/trader in their journey from a beginner to an advanced investor/trader.


5. Do these investing/trading apps also provide advisory services?


Most of these apps provide advisory services inside the app itself which is beneficial for users who do not have the time or inclination to learn about investing/trading. Although advisory services are provided the users should keep a track of the performance of the advisors so that their capital is used effectively.


6. Which are the best investing apps?


Given below are my favourite apps which I have personally used for me and my family.


  1. Kotak Securities - This is one of my favourites and I use it to buy stocks and ETFs.

  2. HDFC Securities - This is used by me & my parents to handle our investing portfolio.

  3. ICICI Direct - This is used by me for my trading portfolio.

  4. Angel One - This is used for my investment portfolio.


Zerodha and Upstox are 2 apps which I have not used personally but have been used by my friends and family. They seem to be good and there are no major complaints that I have heard from them, so I am assuming these are good too.


There are other apps especially in the cryptocurrency space but I have not used them personally, so I am leaving them out as it would not be right to comment on apps I have not used or seen used by my friends and family.


7.Are these investing/trading apps safe/trustworthy?


Yes, most of these apps are safe and trustworthy for investing/trading. However there are some apps which promise quick returns and are not regulated which should be avoided. For example, a lot of cryptocurrency apps are not regulated yet and could face issues at any time when there is an unfavourable regulation change.


8.Can I really make money using these investing/trading apps?


This would depend on a lot of factors like your knowledge, market situation, time horizon, risk tolerance, etc. Just using an app does not guarantee making money 🙂





9.Who can use these investing/trading apps?


Anyone who has opened an account with these investing/trading apps can use it. E.g. Housewives, students above 18 years of age in India, etc.


10. How can I open an account with these investing apps?


To open a stock trading/investing account you can use the link below:


Kotak - https://KotakSecurities.ref-r.com/c/i/32531/90715431


11. Can I place GTT/SIP orders through these investing/trading apps?


Yes, most of these investing/trading apps allow to place good till triggered (GTT) as well systematic investment plan (SIP) orders.


12. What are the other helpful features of these investing/trading apps for analysis?


The other helpful features of these investing/trading apps are that they provide both fundamental and technical data so that the users do not have to go outside the app.


The data that I most commonly use for analysis are as follows in these apps:


Fundamental : EPS, P/E, Mcap, ROE, BV, Div Yield, Revenue/Sales


Technical: Charts, Volumes, Price


Conclusion:


Although investing/trading through apps has become convenient and saves time, we should consult our financial advisor before investing/trading to avoid permanent loss of capital.


Please let us know your feedback on this article and what other topics you would like us to cover going forward. Looking forward to hearing from you.