Trying to find a trading app you can rely on with your hard-earned money? That’s where most beginners get stuck. Some platforms look advanced but are difficult to navigate, while others are easy to use but don’t offer enough functionality. A good trading app should make buying/selling stocks effortless, give you useful insights, and help you learn as you trade.
Here is a breakdown of what to look for in a trading app so you can make the best decision for your trading journey.
Advanced technical tools
Without proper technical tools, it can be difficult to analyse stock movements and identify profitable opportunities. So, look for an app that offers crucial tools to simplify technical analysis, such as:
- Multiple chart types: Candlestick, line, bar, and volume charts to visualise price action effectively.
- Technical indicators: Moving averages, Relative Strength Index (RSI), Bollinger Bands, and Moving Average Convergence Divergence (MACD) to spot trends and momentum shifts.
- Drawing tools: Trendlines, channels, and annotations to mark crucial price levels.
- Timeframe customisation: 1-minute, 3-minute, 5-minute, and daily charts to match your trading strategy.
If an online trading app lacks these critical tools, chances are high that it may not serve well in fast-moving markets.
Different order types
As a trader, it’s important to have control over how and when your trades are executed. Hence, an ideal trading app must support:
- Intraday orders to buy and sell stocks within the same trading session.
- Overnight orders to carry trades into the next trading day.
- Stop-loss orders to buy/sell at a triggered price.
- Market orders to purchase or sell instantly at the best available current price.
These order types make it easier to adapt to different market conditions.
Solid stock collections
A trading app should offer stock collections curated by SEBI-registered experts across:
- Most bought stocks: Stocks that are highly popular among traders
- Most searched stocks: Stocks traders research the most
- Highest dividend-payers: Stocks offering high dividend returns
- FIIS favourite: Stocks frequently bought by Foreign Institutional Investors (FIIs)
- Debt-free stocks: Companies having strong financial health and no debt
Finding the right opportunities doesn’t have to take hours, and these curated collections simplify the process for you.
Trade US stocks at low prices
Many US stocks, like Amazon, Netflix, and Tesla, trade at high prices, which means it can be difficult for small traders to afford them in whole units. A good trading app should allow fractional trading, which lets you buy portions of costly stocks instead of whole units. For example, if a stock costs $300, but you have only $30, you can still have 10% (1/10th) of it.
With this feature, anyone can own a stake in top global companies without overspending.
Margin Trading Facility (MTF)
An MTF feature is what makes the best trading app stand out. It enables you to buy up to 4x more shares than your available capital. For example, if you have ₹2,000, you can buy stocks worth ₹8,000. As you can see, you can take bigger positions in the market using just a fraction of your own capital and maximise returns.
Make sure the trading app clearly lays out the terms, interest rates, and charges for MTF.
Key takeaways
As a beginner, you need a trading platform that is simple yet powerful and offers expert research, multiple order types, advanced charts, and curated stock collections. It is wise to avoid apps that are too complex, lack key features, or have hidden charges.
MO Riise puts all the critical trading tools at your fingertips. Backed by the legacy of Motilal Oswal, a SEBI-registered and public entity, it offers charts, technical indicators, an MTF feature, and expert-backed research on 260+ stocks across 21+ industries. With lightning-fast order execution, you can act on every trading opportunity on time.
You can also read articles, user guides, and FAQs to strengthen your trading knowledge. Need help? 24/7 customer support is always available to resolve queries. Simply put, MO Riise gives you all the tools and support you need to trade smart. Download the app today!
How to choose the right trading app for beginners
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