New investors get started in the stock market every day in the hope of making money. The financial market is like an ocean where you can earn plenty of money if you are doing it right. Before investing your money, you have to first open a Demat and trading account online with a trusted brokerage firm.
The best trading app is the one that contains the following features. Refer to the following checklist to narrow down your research for the best stock trading app in the market.
Trading is more convenient on the app if it provides easy customization. Such as – customizing the Theme (Light/Dark), customizing the Sound (Order Notification) and Enabling Fingerprint along with the PIN option to open your app at your convenience.
Quick Access To Funds/Balance
You might need to check your funds before and after trading. So having easy access to the Funds section in your trading platform is very important for every trader. It will help you check the Funds available, the Margin limit that you have utilized and the Transaction History of your everyday trading.
Classified Order Section
The Order page gives a clear idea to traders about regular buying and selling your order. Your trading app must be able to classify your Orders based on Orders – Executed, Orders – Pending, Orders – Successful and Orders – Rejected.
Detailed Information on Scrip
There should be every detail about a Scrip you want to buy/sell. You must be able to check the charts, set alerts on price and add it to the Watchlist for your convenience of trading. Also, you should be able to check the Volume, the Average traded price, the Highs and Lows in the market and Recent news before deciding to buy/sell the Scrip.
There should be a dedicated section on your trading application where you can apply for an IPO. Also, you should be able to get details about the upcoming IPOs and receive notifications for any upcoming IPOs in the market.
Technical Research Calls and Reports
If you have the right knowledge, it can take you to the right place. In the stock market, having the right market knowledge can help you to make money. You need to have access to regular reports on market movement from your broker. Also, you should be able to get research-related calls so that you get more ideas about trading. Therefore, it is recommended to open an account with full-service brokers as all these additional facilities are provided at no extra charge by full-service brokerage firms.
Dedicated Relationship Manager
As a beginner, it is okay to have a lot of questions in your mind. When you open a Demat and trading account with a full-service broker, they provide you with a dedicated Relationship Manager (RM). The RM guides you with your trading problems as well as app-related queries.
Multiple Watchlist and Advanced Technical Charts
Multiple Watchlists in your app can help you actively keep watch on the Scrips that you find potential for trading. If you have advanced technical charts in the app, you can make your analysis before trading. Though it is not easy to understand all about charts in the beginning, once you learn about technical charts and use them for trading in a few months after opening a trading account.
The stock market offers plenty of opportunities for making money to everyone. For beginners, it is important to gain knowledge about the market, start slow with investing and have the best stock trading app to keep up with the market. The Jiffy trading app by Choice group is designed perfectly for hand-in-hand learning and trading in the market. Download the Jiffy app now.