Which Trading Account Is Best for Beginners?

Trading accounts hold investments and securities. A trading account is a good place to keep your stocks and shares safe. It makes it possible to trade and do business online in a way that is quick, easy, and safe. You’ll need a trading account to do this. You’ll need one that is strong, safe, and can meet all your customers’ needs.

There are many different ways to open a trading account in India. So, it’s hard to choose the right one. We’ve made a list of the best accounts for trading in India.

So, without further ado, let’s get right into it!

Top 5 Best Trading Account Options in India for Beginners

Zerodha

Pros

• Zero-brokerage
• No annual maintenance fees
• Easy money deposits
• Very easy-to-use

Cons

• The account opening process takes a lot of time.

Zerodha’s main goal has always been to give its customers the best service. They do this by using solutions at the cutting edge of technology. Their Demat service works with three different apps for mobile phones. This is the best trading account you can get in India. They pay close attention to every detail.

Zerodha has made a great user interface by making it easy to use and useful (UI). The user interface has a lot of features and is easy to use. They have become one of India’s most important trading accounts.

In 2010, Zerodha was the first company to offer discount brokerage services in India. You can trade stocks, bonds, government securities, currency F&O, commodity F&O, and equity F&O. All of these can be traded with the Zerodha trading account.

Upstox

Pros

• Zero commission
• Invest with as low as ₹1
• Simple interface
• Quick application processing

Cons

• No recommendations or tips for users

Clients can use Upstox to access tools that help them manage their trading accounts. Also, its brokerage fees are some of the lowest of any trading account.

India has several trading accounts to choose from. But some of the fastest response times and friendliest staff are at Upstox. As a customer, you can be sure that your problems will be solved quickly and well. All this is because their support team is knowledgeable, helpful, and good at what they do.

Because it has so many tips and insights, Upstox is the best trading account in India. These insights keep you updated on your trading account’s business, market, and portfolio.

They used to be called RKSV Securities, and right now, only Zerodha is ahead of them.

Almost everything about their brokerage model is the same as Zerodha’s. They used to have unlimited monthly options, but they stopped doing that.

For trades with delivery, they do not charge brokerage fees. They also charge Rs 20 per completed order. It’s also free to open an account with them.

They have support from well-known people, such as Mr Ratan Tata.

Groww

Pros

• Paperless account opening
• Advanced trading platform
• Simple UI
• Can also invest in US markets

Cons

• No support for IPO investments

You won’t have to pay anything when you open a trading account with Groww. Also, there are no fees to keep the account open. You can sign up for an account online from the comfort of your own home. No brokerage fees are charged. So, their trading account is the best in India.

Systematic investment plans, direct mutual funds, and intraday trading that you can trust are all supported. It’s easy to use it with other apps and services to improve your workflow.

Groww was started in 2016 to help millions of Indians who needed financial help. A Groww trading account is a great way to keep track of your investments. And get news and information about the market and your portfolio. Such information can help you make smart choices about your money.

With a Groww trading account, you can trade stocks, index funds, commodities, and other things. The platform also has charts with market information. This information can help you make better decisions.

Groww is one of the safest trading programmes you can use. As a bonus, there are no fees to trade on Groww.

ICICI Direct Demat Account

Pros

• Supports paperless account opening.
• Detailed watchlist
• Reliable broker

Cons

• Has annual maintenance charges

Investing in equity markets is very easy with an ICICI Direct Demat Account. Equity funds, partial shares, and individual stocks are only some of the assets you can trade. You can trade the shares of companies worldwide. Also, you can gain market insight with an ICICI Direct Demat Account. 

The ICICI Direct Demat Account is one of India’s most user-friendly trading accounts. That’s because of the flexibility of its interface. The ICICI Direct trading account can be linked to your ICICI Bank account. And, it will give you the convenience of a “3-in-1” trading account.

Customers can pick and choose from several packages to meet their requirements. For current ICICI Bank account holders, this is a great option. Also, customers with an ICICI Direct Demat Account can access other extra ICICI services. For example, loans, fixed deposits, and more.

Angel Broking

Pros

• Can invest in multiple markets
• Large network of brokers
• Zero brokerage

Cons

• Poor customer service

Investors can rely on Angel Broking for sound tips based on solid data analytics. And they can also rely on expert guidance on allocating their capital. All investors get free access to their investment advice and mobile apps. 

If you’re looking for a trading account in India, go no further than Angel Broking. Their excellent services, user interface, and Angel One app make them a top choice. More than thirty years ago, it began operating as a discount broker.

Customers can select their preferred package among the available options. Their asset management solutions and brokerage services are top-notch. And, that’s before we even mention how great they are at providing trading accounts. When you open a trading account with Angel Broking, you can do so quickly, easily, and at no cost.

Paytm Money Trading Account

Pros

• Great investing insights
• Easy fund transfers
• Can invest with as little as Rs. 100

Cons

• Doesn’t support commodities

When it comes to low-cost investment options, Paytm money is the most well-known in India. The services provided by Paytm Money’s trading account are sturdy and trustworthy. Apps are available for Android and iOS. And, they are designed to make even the most unskilled trader feel comfortable.

The Paytm trading account updates its users on the latest news in certain areas. For example, personal finance, the stock market, and more. Getting started in trading requires only Rs. 100, which is readily deposited into a trading account. 

You can use your Paytm trading account to invest in multiple products. For example, the stock market, mutual funds, ETFs, IPOs, and futures and options. You can even invest in the National Pension System (NPS).

Conclusion

Time is money, and trading accounts have allowed people to save both. Trading accounts have enabled this by facilitating paperless trading. And, removing the need for associated administrative processes. Upstox and Zerodha are two of the greatest trading accounts in India. 

Having the option to buy and sell at any time is crucial during volatile market conditions. A trading account serves this purpose.

But, before a beginner can select a trading account, there’s something they should do. They must look for certain helpful features when picking a trading account. For example, educational resources and personalised guidance. Finally, they must ensure that the brokerage fee is as minimal as possible.