The stock market provides great opportunities for traders and investors to create an alternative source of income. There are multiple ways to invest in the stock market. The online stock trading app is among the easiest and most efficient ways to trade and invest. They have multiple features that traders and investors can use. There are multiple benefits compared to contacting a stockbroker or using a trading portal on your personal computer.
A difficult choice can be to choose among the array of apps that are available. Different stock brokers provide their apps, each with a unique feature. Making a choice can be extremely difficult between all the investment apps. Here is a simple guide to the necessary features that you must look for in an online stock trading app
User-friendly
A user-friendly user experience is a necessity for any stock trading application. It is a necessary feature that is required to have. Understanding and implementing the app’s numerous features really benefit traders and investors as they can easily make the best trades and investments to earn the highest returns by using a user-friendly trading platform.
Security
An app for online stock trading must be safe and secure. It should have a password-protected feature or a biometric login alternative like a fingerprint or Face ID. It guarantees that all of your assets and credentials are unassailable. It stops someone from manipulating your Demat account by, for example, buying or selling shares without your knowledge.
Informative
A stock trading app must offer comprehensive information regarding the stock market’s present situation. The app must provide charts that indicate the performance of the equities listed on the Stock Market in addition to delivering live information about it.
Additionally, it must offer financial data and other details like the most recent news and business announcements. This enables traders and investors to stay informed about everything, empowering them to make wise judgments.
Fund Transfer
Traders and investors should be able to easily transfer money from their bank account to the Demat account using the online stock trading app. Traders must be able to transfer funds back into their bank accounts as well easily. Thanks to this option, customers can invest quickly and withdraw their money swiftly if they ever need it.
Notification
An online stock trading app’s notification feature is undoubtedly helpful as it can notify you if the target stock reaches a certain price. Depending on your risk tolerance, it enables you to engage and use multiple trading strategies. You can get updates on specific businesses, stocks, or stock market events based on your preference. Additionally, you can receive messages for any corporate activity, such as stock splits, dividends, etc.
These are some of the basic features that investment apps must-have. Apart from this, there are multiple features that stockbrokers provide in their apps. Making a choice is difficult as it can be difficult to decide.
Choosing A Stockbroker
A stock broker is a depository participant who helps you to open a Demat account. Along with a Demat account, they are capable of providing trading facilities that you traders utilize to become a better trader. Ensure the broker has experience in the stock market. Also, ensure he is registered under the Securities and Exchange Board of India (SEBI). Do refer to customer testimonials as well to know how their customers have benefited. Before choosing the broker, ensure to check if they have been involved in any scandals in the past and how have they behaved after it
Research about the app they provide and the array of features it possesses. If they provide a trial version, make use of it too. You could also refer to websites that provide a review or Youtube to learn about the app as well. Information is king, and knowing about the app can help you make a better choice.
Among the multiple stockbrokers out there, IIFL Securities is among the leading stockbrokers in India. They provide the IIFL Markets app, which is available on the google play store and the apple app store. You can use multiple features like Mpin for security, advanced technical charting, price alerts, advanced widgets, etc. You can also use the guest user login feature to use the app and get an idea of how it functions. IIFL Markets app provides an easy way to manage your portfolio and account. It’s among the top-rated apps on the app store. Download the app and try it out today.
