NEWS

Mobile Apps to Help You Trade Better

Digitalization is everywhere, and stock trading being such a crucial part of the economy, was never going to be left behind. Every day we see an increase in the number of users shifting towards mobile platforms for trading purposes. No website is good enough if it doesn’t offer a seamless omni-channel experience to the modern investor. Luckily, advances in the field of communication and technology have led to a steep rise of mobile platforms and applications that make it easier for users to conduct their transactions.

However, in the clutter of android-based apps it can get difficult to find the one which will truly stand out. Almost every mobile platform can help you open a demat account. But a good personal finance app has to offer something beyond that to entice and retain customers.

In my quest to find one such app, I happened to chance upon Upstox Pro. This stock trading app has positive ratings on Google Play Store, and a loyal follower count. An interesting experience later, I thought I should write down a product review for fellow investors and traders.

As far as brokerage firms go, Upstox is a relatively new player. Founded in 2012 from a simple idea to make trading easier, Upstox is a low-cost tech-first brokerage firm and its offerings include an unpretentious platform for clients to trade on NSE, BSE and MCX. With its focus on providing real-time updates about the Indian Stock Market, Upstox Pro can clearly be defined as made for trading professionals who are into intraday trading. The user-friendly interface is easy to use, and the main reason for the many positive reviews on Google Play Store. Other features that stood out for me are:

1.Login-less experience: This is one of Upstox Pro’s commendable benefits. Upstox Pro platforms offer a completely login-less experience. With this, fresh traders can explore the app and its tools without having to register for an account. You only get to the account opening routine when you wish to make your first trade through the app.

2.Smart trade tools:  Upstox Pro has multiple tools to help the process of quick day trading, taking away the need of checking the TV for live updates. Available both in its mobile app and website, Upstox has charting tools that help you spot market trends, along with real-time updates of the stock prices. The app also has other advanced charting tools, heat maps and interactive indicators that help you make technical and fundamental analysis.

3.Upstox API: This is one of Upstox Pro’s unique features that lets you create and customize your own trading apps and strategies. Available for all, Upstox API is a set of REST APIs which provide the programmable platform required for you to build your trading and investment setup. The platform is customizable with themes, layouts and widgets that you can add. You can also perform tasks like order execution in real-time, user portfolio management and streaming live market data with the Upstox API feature. The platform offers interesting workspaces that you can shuffle around, and make your own.

4.Mutual funds’ investments: Upstox Pro now also offers Mutual Funds services. Through the Upstox MF platform, investors can browse through countless available mutual funds, and easily purchase funds of their choice.

5.Cost: Upstox Pro promises a low-cost brokerage model with a nominal charge of ₹20 per intraday order. It also offers brokerage free equity delivery, which will be a good draw for beginners. However, there are other discount brokers in the market which offer cheaper per trade brokerage plans than Upstox. Can’t say the same about services though.

This app is good. However, I did feel like there were a few concerns that need to be addressed:

  • The user interface is easy to understand for experienced investors. But beginners might take a while to get used to the many tools and widgets on the screen.
  • There is an extensive search function in the app that gives you results of simple and complex stocks. I found these researched reports quite average.
  • The widgetized workspaces that Upstox API offers is better experienced on the web. The small screens of our smart phones take away the ease of use from the feature.

Updates to the mobile app and website are pretty frequent, and the app is overall very resourceful. In the end, I suggest all investors, fresh or advanced, who are in the market for brokers, to give this app a try.

Disclaimer: This post is a genuine review, and not part of any paid campaigns.