6 trading platforms to consider for Muhurat Trading this Diwali
By Joy Dumasia
In India, Diwali marks the beginning of a new financial year. The day of Dhanteras or Lakshmi Poojan is considered a happy day in the financial aspect of life. Every year, Indian stock markets open a one-hour trading session called Muhurat Trading (Dhanteras, which is an official holiday) to celebrate a good day and start the financial year positively. Muhurat, in simple terms, can be described as the best astrological time of the day. Muhurat Trading has significance as it marks the new year or “Samvat”. It is a belief for investors that Muhurat Trading is marking the arrival of wealth and prosperity during the coming year.
The following are 6 trading platforms to consider for Muhurat Trading this Diwali:
A new age digital-first- advanced trading platform. If you are a new investor and wish to attend the process of opening a free Demat account without any hassle, then TradeSmart should be your go-to application. The new AI-enabled E-KYC- feature assists the opening of a seamless error free Demat account. A member of NSE, TradeSmart provides online trading in – Cash, Futures and Options, Currency Derivatives, Commodities, Mutual Funds and ETFs for investors and online traders. TradeSmart offers simplified products – SINE, SWING, SWING API, BOX and TradeSmart MF. The application has a simple and user-friendly interface to facilitate its users with a seamless trading experience.
If you are a beginner and searching for a pocket-friendly option for a trading platform, Zerodha comes to your rescue; it is a stockbroking platform offering the lowest, cheapest brokerage rates for futures and options, commodity trading, equity and mutual funds. Features like Dashboard / Account Summary, Market Watches, Streaming Quotes, Browser Notifications, Market Depth View with Streaming Updates, Floating Order Window and Exit multiple orders/positions in one click aids in easy trading.
Offering zero brokerage on Muhurat Trading, Upstox is one of the options to commence Muhurat Trading. A registered member of SEBI, BSE, NSE, MCX and CDSL. The stockbroker regulations regulate the company. It is audited regularly by the exchanges. Users can open free Demat and trading accounts on this application and invest in mutual funds, stocks, derivatives, futures, options, and currencies.
Angel Broking is now Angel One. The Angel One app looks like a 21st-century mobile app. The app provides an easy swipe option to search for news, watch lists and trending stocks. Angel has almost everything one needs to trade in the market for those who use it as a watch list.
If you are a tech-savvy trader, IIFL is the platform you should go through. Signing up is easy and is based on a one-time password; all you have to do is enter your mobile phone number. In addition, one of the best features of the app is a mobile tick, which displays news and stock prices right on the home screen. Access to the app is easy; one has to swipe the tick to buy or sell using the app.
If speed matters to you and quick execution are what you want, then NSEMobile is the app you might want. A simple forum within the group, one can register with the NSE to trade in vanilla, buy its derivatives, the future, and provide commercial access. The app only works as a live ticker and does not provide any report or news features like other forums but incorporates that into clean, easy-to-use charts to track stock movements.
ALSO READ: India FinTech Report 2021
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