Trading on a desktop can be inconvenient as you cannot carry it around with you everywhere. If you were wondering, “How can I find reliable software for online share trading in India?” let’s recommend the Zerodha app. In this review, we will take a detailed look at its features, advantages, disadvantages, and how you can set it up.
Top features of the Zerodha trading app
More than 9 million customers place orders daily on the Zerodha platform, representing more than 15% of all retail trading in India. They trade and invest in Direct mutual funds, Commodity derivatives, Bonds and Govt. Securities, Futures and Options, Stocks & IPOs, Currency derivatives.
Let’s take a look at some of the features of the Zerodha mobile app that make it so popular:
- User-friendly interface
The dashboard is so simple to use.The main screen on the share trading app is the market’s watchlist, just like on the web platform. You can delete the scripts and add or rearrange them as you wish. Convenient options on this watchlist are quick to sell and buy, market depth, and charting, the same as on the web.
- Multiple modes
Various users have different viewing preferences, and Zerodha took this into account when creating the onlinetrading software. This application for trading allows you to choose dark/night mode if too much light inconveniences you.
- Level 3 data
The stock trading app is the first in India to provide access to level 3 or 20 depth market data. Level 3 offers information not available with a standard limited market depth view by delivering more quotes. You can see supply and demand across almost the entire price range of the calls, which allows you to calculate where support and resistance levels could potentially be and get an estimate of the price at which your larger orders can be filled.
Note! The Indian trading app from Zerodha is called Kite.
Pros and cons
The Zerodha online software has several benefits that users enjoy and a few disadvantages that don’t get in the way of trading effectively.
The main advantages that allow us to call Zerodha one of the best online trading apps in India are:
- The company reliability
Zerodha has been in business for more than 10 years. Besides, it is regulated by the Securities and Exchange Board of India (SEBI), which is India’s top financial regulator.
- Educational materials
Zerodha offers a support portal known as the FAQ section that includes answers from the support agents. Besides, you can access more help via calling or emailing.
- Data security
The Zerodha trading account login requires biometric two-factor authentication to ensure the security of your data and funds. iOS users can set up fingerprint and Face ID login to the app.
- Timely notifications
The order status is updated in the application immediately after it is placed. You will also receive push notifications every time it is updated.
- Minimum deposit amount
The Zerodha online application does not require you to have a minimum deposit once you open a trading account. Also, you do not need to have a minimum balance in your account for it to be kept active.
- Affordable brokerage
Zerodha sets zero brokerage fees for investments brokerage for investments and a flat ₹20 for F&O trading. The сharge for opening a Trading & Demat account is ₹200. Account Maintenance Charges (AMC) of ₹300 + 18% GST per annum apply to the online Demat account. AMC is accrued quarterly, i.e., every three months from account opening.
The Zerodha online application has several drawbacks, namely:
- It only covers the Indian market
Zerodha does not provide access to foreign companies, limiting you from choosing an asset for investment. However, if you are a beginner trader, this can be a plus: you will not get confused in the market.
- No live chat
Unlike many other trading platforms, the Zerodha app does not provide a live chat with a manager. However, you can get help quickly by phone or email.
- No demo account
A demo is essential for teaching beginners and even experienced traders who are new to the platform or want to improve their skills before trading on a real account. Zerodha does not provide this offer to its clients as securities are traded in real-time.
However, this does not mean a lack of training. Users can explore the support portal to learn the basics of trading. A free video course is also available to understand how the online trading app works in India.
- Minimum number of bonuses
Currently, the only reward that Zerodha is offering is bonus shares. Sometimes a company may give away free shares (an alternative to paying dividends). With a bonus issue, the number of assets in your portfolio increases, but the value of the investment remains the same.
- Few deposit options
Zerodha has only three main deposit options for its clients. They include:
- Real-time gross settlement (RTGS)/Immediate payment service (IMPS)/National electronic fund transfer (NEFT)/Cheque;
- Instant payment gateway.
Note! When topping up with the latter method, there is a charge of ₹9 + 18% GST.
If you have a question: “How long does it take for funds to reach your Zerodha account?” then be aware that the time may take from a few seconds to 3 business days, depending on the payment method.
Where to download software?
You can install the Zerodha online trading appfor Android or iOS free from Google Play and the App Store. The online software is not optimized for computers. Use the website to access the trading platform from a desktop or laptop.
How to set up the Zerodha trading app?
Once you download the Zerodha software, you are free to trade and invest in the Indian online share market. After logging in, the first page you will notice is a blank market overview page that you will need to fill in with shares you are interested in.
Type the share name in the search box or select it from the dropbox, and then you will see it on different exchanges. Click the add button to add it to the watchlist and do the same for all shares you’re interested in.
The information the watchlist will display includes:
- Percentage change in relation to the LTP.
- The price at which the share closed the previous day.
- Volumes showing the number of shares traded at a specific point.
Once a share has been added to MarketWatch, you will find several options for trading. Click on the buy button, select the desired number of shares, and submit your first buy order.
Note! You can create a total of 7 MarketWatch, each of which provides for adding up to 50 scripts. The list settings allow you to sort it alphabetically, percentage change, exchange, and LTP.
Hopefully, you have found that the Zerodha app is one of the best software for trading in the Indian share market. The app is suitable for beginners and experienced traders, passive investors, and active intraday traders. You can download Kite for free online in the app store for Android and Apple.
Take full advantage of the app by trading anytime and anywhere but be aware of the risk of losing funds. Before investing, read through the Support Portal and watch the video course to learn the basics of online stock trading in the app