How do you choose your Trading Platform Online?
ARTICLE: How do you choose your Trading Platform Online?
I have been trading in the Indian stock market for the past 13 years. I use to face a lot of issues with brokerage firms, the topmost issue was the transparency of charges, very random amounts used to be charged and there was no proper description for the charges, I use to call up customer support and they use to tell me to write an email and I use to do it, it uses to approximately 1 week time to get a response from them and meantime I might have done many other trades, they used to call me by 9 pm night or after 7 pm evening, I used to be in some other work. I never received their response immediately. Many times they used to answer me as their system is not responding and thus the panic attack to me.
The next issue was their customer support, there use to be a trade that needs the help of details, and the support for the same used to take 1 hour to reach their support, I used to be on hold for hours together, thus I use to lose my temper.
The next issue was with their applications of trade, worst part I faced was with full-time stock brokers in India, I have changed 7 brokerage firms in the past 13 years and almost everyone was the same in this. They use to cancel orders themselves even at the mid-day, and there was no answer for the same.
10 years passed this way and finally, in 2017 I found Zerodha which is a solution for many of my struggles. like me 10 million people adopted Zerodha and all of them are happy with it.
Zerodha Console is a very clear platform to know about charges, hence issues with fees/charges got resolved, Zerodha margin calculator and Brokerage calculator are also the best platforms to understand the charges even before trade.
Zerodha does not carry margin trades for the next day hence the many charges structure got eliminated compared to others, Zerodha started providing a Zero brokerage account, which means any trades which are more than two business days are free of cost. Hence again much confusion on charges got avoided.
Zerodha application is India’s best, Kite application is the one people use for trading and it is the best in my experience. Simple, smooth, easy to use, fastest data streaming, perfect wire-framing, very clear data points, screens, trades, watch-lists, order status, and Holdings, thus the best app in my experience.
Most important is many brokerage firms follow classing account opening procedure, Zerodha is modern and everything is online and it takes hardly 5 minutes to open the account. Hence one must pick Zerodha for their trade and investment.