In the beginning, trading got carried out through the outcry method. You or your broker would have to be present at the stock exchange to make trades by calling them out or using actions. It was a troublesome process as the settlement period for the shares was about 14 days.
It meant that after buying, you’d receive the shares after 14 days. The same would apply to receiving money on any sale of shares. It also changed with the advent of the internet. The outcry system got eradicated, and trading would take place on the internet with the help of terminals. The settlement period did improve but was still pretty long. In 1996 the National Stock Exchange (NSE) established the National Securities Depository Limited (NSDL), responsible for Demat accounts.
Demat accounts made trading convenient as all securities were stored electronically in secure locations. It reduced the cost of trading and made trading more secure. The settlement period was now down to 2 days, making trading a quick process.
As time progressed, stockbrokers would provide desktop terminals that investors could use from their homes. It put the investing power directing in the hands of the investors, giving them complete control over investing. The stocker broker could not carry out trades unless specified by the investors, making trading more secure.
Mobile trading has taken the country by storm in today’s day and age. Every stockbroker provides a stock market app. You can use it for various purposes.
A stock market app helps you trade without any difficulty on the go. You can use it any time anywhere as long as you have a working internet connection.
It can be complicated to choose an app due to the variety of apps available to traders. Here’s a complete guide for the basic features you must look for to carry out trading with the help of a stock market app.
Having an easy to use stock market app is a boon. One must be able to use all the features without getting confused. A good and simple interface is necessary to ensure customer engagement.
A straightforward process helps the customer understand how to open a Demat account without making mistakes. Opening a Demat account can be a lengthy process. You need to submit documents to prove your identity and complete an eKYC. The Stock Market app should make this process as easy and fast-moving as possible.
The app should help you to open a Demat and Trading account. The Trading account lets you carry out stock trading online, and the shares you trade in are credited, stored and debited from your Demat account. A 2-1 account helps investors to trade better. It’s very convenient for the investors to have the Trading and Demat account in one place.
Smooth Trading Experience
Apart from being user-friendly and efficient, the app should carry out trades smoothly. Low latency helps customers trade directly on the Stock Market. Providing a smooth trading experience helps investors ensure they don’t lose out on any trades, making the maximum profits.
A Stock market app should have good technical support. They should assist if investors face any issues while opening a Demat account or trading. The issue must be rectified as soon as possible so that traders can have a Demat account and trade efficiently.
These are the most important or the basic features that a stock market app must possess. Having additional features is obviously all the more beneficial to traders and investors. Different stockbrokers provide varied features, and it can be difficult to choose.
IIFL Markets App
IIFL is among the leading stockbrokers in India who provide a stock market app. Their application is IIFL Markets, and it has various features apart from the basic ones mentioned above. A few of those features are-
- Price alerts
- Trading Tips
- Free Guest Login
- Advanced Widgets for phone
- MPin for security
- Advanced Technical charting
- Latest News
- Free Research Reports
- Apply for IPOs
- Instant Notification
All these features are very useful to you as a trader as they make trading easier. You get access to a lot of information at the tip of your fingers. The stock market app – IIFL Markets was voted the number one stock trading app by Zee Business Awards. You should surely use it once via the free guest login to check all the features which would help you become a better trader.