There was a time when investing in the stock market or share market was a very risky business. Keeping in mind all the ups and downs in the value of stocks, it is difficult to time it for those who are smart enough to engage in buying and selling. Even a little carelessness can lead to loss. All the time had to be kept on the value of the shares. Now, with mobile phone – internet connectivity at the fingertips, stock market trading has become very simple. Investing in shares, selling when the value increases, buying when the value decreases can all be handled in a moment. Technology has come to help us in our profit making and the accompanying apps have made our work easier in the palm palace of ‘mobile phone’.
The financial sector has grown tremendously with the incorporation of modern technology. Even among the common people, the words of sadness that ‘the market has gone down’ and the happy words that ‘the market has risen’ have started to be heard. The reason for this is the apps in the mobile phone. Common people too have decided to invest in the stock market to grow their savings. The number of cheaters using technology is also high. Many people are confused about which app to trust when there are so many apps that steal our private information, sensitive things like banking password etc., who fall for the mouth-watering lure of investing money here and double the money in a few moments.
Apps for investing in mutual funds or directly in the stock market are plentiful on the Google Play Store and Apple’s App Store. Among them may be fake or included apps. For this reason, in consultation with those who are already engaged in financial investment, here are some apps listed.
The most popular app names are Motilal Oswal, Kite by Zerodha, Upstox, 5paisa, Angel One, Kotak Securities, ICICI Direct Markets App. ICICI Direct Markets App), TradingView, IIFL, ShareKhan, Edelweiss, FYERS, Groww, AliceBlue etc. Also, almost all banks have their own trading app.
But remember. Although the apps are available for free, their use may not be completely free. Depending on the transaction, minimum brokerage or commission is required for these apps as well. Also, each app has its own features. These apps are designed according to experience, investment goal, trading needs. Some apps ask for an annual fee or even a per-transaction fee.
They charge a specific fee (mostly ₹20, free on some apps) for intraday trading (buying, selling shares). Similarly, for long-term investments, the commission will be the same. Some apps may also charge an initial fee of around ₹200 to ₹400 to open a demat account after signing into these apps (having a demat account is mandatory for share trading; some banks do it for free). There are no fees for mutual fund investments in some apps. Some apps charge 0.5% to 1% commission only if the investor’s annual profit exceeds 10%. However, after slowly learning how to invest money in the stock market, all these charges can be considered negligible.
Another great advantage of these stock trading apps is that they show you instantly which stock has gone down and which has gone up. Not only this, they also give expert advice on what to invest in, when to sell shares, when to buy. Thus, these apps do the job of guiding even new entrants to the stock market and grow themselves.
However, there are three points to note regarding stock trading:
1. There is ‘risk’ in investing in the stock market. Think and invest.
2. Do not invest in shares of a single company (i.e. do not buy shares). By buying shares of different companies, a loss in one may result in a profit in the other.
3. Don’t expect sudden profit, wait patiently. By systematically increasing the investment gradually, the income can be increased intelligently.
Starting in the Indian stock market can be an exciting venture, but it’s essential to approach it with caution and a solid understanding of how it works. Here’s a basic guide to help you get started:
Ready To Enter ShareMarket :-
-
Educate Yourself: Before diving in, take the time to learn about the basics of the stock market, including how it operates, different investment options, risk management strategies, and how to analyze stocks.
-
Set Clear Goals: Determine your investment objectives, whether it’s long-term wealth accumulation, saving for a specific goal, or generating income. Your goals will influence your investment strategy.
-
Open a Demat Account: To buy and sell stocks in India, you’ll need to open a Demat account with a registered Depository Participant (DP). This account will hold your securities electronically.
-
Choose a Broker: Select a reliable and reputable stockbroker to execute your trades. Consider factors like brokerage fees, research and analysis tools, customer service, and user interface when choosing a broker.
-
Research and Analyze: Conduct thorough research on companies and sectors you’re interested in investing in. Learn how to analyze financial statements, assess industry trends, and evaluate the fundamentals and valuations of stocks.
-
Start Small: Begin with a diversified portfolio of stocks or mutual funds to spread out your risk. Avoid putting all your money into a single stock, especially if you’re new to investing.
-
Stay Informed: Keep yourself updated on market news, economic developments, and company announcements that could impact your investments. Stay disciplined and avoid making emotional decisions based on short-term market fluctuations.
-
Monitor and Review: Regularly review your portfolio’s performance and make necessary adjustments based on changes in your financial situation, investment goals, and market conditions.
-
Practice Patience: Investing in the stock market is a long-term endeavor. It requires patience, discipline, and the ability to withstand short-term volatility. Avoid trying to time the market and focus on the fundamentals of your investments.
-
Seek Professional Advice if Needed: If you’re unsure about where to start or need assistance with your investment decisions, consider consulting a financial advisor who can provide personalized guidance based on your financial goals and risk tolerance.