Best Trading App In India in 2022
The economic situation in India, as we all know, is far from being the best in the world. But recently, cheap smartphones have started to appear in the country, as well as mobile internet and communication. And even after that, many Indians began to take an interest in stock markets, particularly Forex. And companies that operate as intermediaries between investors and stock exchanges have begun to train new traders. However, with the advent of the network in the country, many mobile applications have begun to emerge that residents can install and trade with the help of a broker. Only a few of those investors know how to choose a reliable exchange.
A good broker provides the most advantageous terms for users. Among them low commissions and margin. Availability of licenses and official representation. Permission to trade at the Forex market. Wide range of tools for trade is also available. High-quality technical support that operates 24 hours a day, 7 days a week — a very important part of the broker’s reputation. Multilingual exchange is also important.
The Best Trading App In India is considered Interactive Brokers. Exchanges offer better conditions for international trading of shares and currency pairs. Among other companies, this has the greatest connection to the international market. Having downloaded this application, the investor has access to trade in 135 markets in more than 30 different countries. Using a single integrated account, you can invest in stocks, investment funds and ETF worldwide. When you register on the exchange you will have to verify your identity, namely send photos of your documents and personal data to the broker. Only then you will be able to start a full trade with all tools. And it is also important to understand that the minimum age for investors should be 18 years old.
The advantage of the broker for Indians is minimal fees for trading, and the absence of penalties for not using the account. You also have free access to research, basic data and relevant news. Forex trading is not illegal in India, but the options to do forex trading are quite limited. You must know that. And you can only do forex trading through specific brokers, and you must have INR as the base currency.
So there are a lot of brokers in India and they’re all good at something. Well, it also has its drawbacks that prevent Indians from fully enjoying trade. But the Interactive Brokers offers the most advantageous terms at the moment.