With India’s global embrace, a lot of global players are competing with Indian companies to acquire the top slot. They are doing reasonably well, but Indian players, due to their ability to let users trade via the app are successfully holding their turf. Let’s see how they flare out.
Moneycontrol: It is one of the most well known and foremost players in India’s financial markets. The app has got many features that are quite handy for almost everyone – right from a novice investor to an experienced one. The app has a ticker, Live TV and news notifications amongst the most favorite stock market features. However, the app misses out on quite a number of fields. First of all, it doesn’t allow trading and moreover, there is no mechanism for price alert etc. the app is also devoid of information. For instance, unlike their website, they don’t have ratios etc in the app – which is akin to a huge letdown for customers.
Kotak Stock Trader: An Indian app which really ends in disappointment, it lets users trade but does not allow them to set up alerts. It doesn’t have widgets, watchlists etc., which one would expect from a typical stock market app. In fact unlike most of the other apps, it doesn’t even have a guest login feature and, therefore, it tremendously limits both its scope and outreach.
ETmarkets: Does a fine job with basic stock market app features. It has technical charting, videos, live tv, and has received a considerably good response. The feedback amongst the users has been good. However, app misses on many crucial fronts. For instance, one can’t place intraday calls or set up notification. There is a great void with the absence of fundamental features that one would identify with the stock market app. The app is pretty much modeled like Moneycontrol and doesn’t flare in the top spot in the grand scheme of stock market events.
IIFL Markets: A full-powered mobile app which is completely different. There are more than ten special features unique to this app. For instance, there is price alert notification, widget, information on the key ratios of the company, ability to trade through the app amongst many others that really establishes this app amongst the top. Add special quality report of over 500 companies and it comfortably pips all other apps. This app is available for free download on both android and apple platforms.
By comparing them, it is established beyond any doubt that it is IIFL Markets which is really making it hard for global players to tap further into the investment arena. Other players do have a lot to catch up – which doesn’t seem impossible but is certainly going to be very difficult as most of them would require going through a major overhaul.
Irrespective of who stays at the top, one thing is pretty much evident – that the stock market apps are here to stay, and make a lot of difference to the way we trade.