What you Should Know Before Using a Stock Trading App?
Now, you can invest in the stock market using an app that can be for Android or iOS. These apps are built by Depository Participants such as brokers. You can easily trade online by using the app if you have a Demat account.
The apps offer various features like viewing stocks, tracking stock prices, customising your buy and sell orders, viewing stop losses, viewing target triggers and more. The best stock market app keep track of how your investments are doing and allow you to pick better entry and exit points.
Best Stock Market App | Image Resource : businesstoday.in
Points to consider while using a stock market app
- When you use a stock market app the first thing to do is to open an account. This is a simple and seamless process. Most of the providers will let you open an account for free. But you should check the account closure terms. The app should offer a seamless account closure process as well.
- The apps will provide many features and you should check if it has the features you need to achieve your financial goals. The apps may offer additional features like trading reports, real-time overall margin updates, notifications, tools and more.
- Most of the stock market apps are free to download and install on your phones and computers. Though there are charges for using the app. The two charges you should look out for are the Account Maintenance Charges (AMC) and the Transaction charges. These charges cannot be avoided therefore you can select an app that best suits your needs. If you plan to invest for a long time then select an app with low AMC charges and if you trade frequently then select an app that has low transaction costs.
Most trading apps now offer a lot of features to suit all your investment needs. The apps use advanced technology like Artificial Intelligence to suggest investment options to investors. It offers one-click investing and you can invest regularly through the app.
The investment also becomes easy as you can enter your goal in the app and the AI-enabled software can provide recommendations as to where you should invest your money to achieve your goal. You can get a high return on your investments with a minimum amount of risk involved. Thus making investment decisions is easy.
The apps are safe to use as they use strict security measures. The best industry encryption is used to protect the data. The app uses AI-enabled fraud monitoring 24x7.