Best Trading Platform for Beginners
Complete guide to choosing the best trading platform for beginners
As a beginner getting started on your trading journey, you want to start with things that are mainly free and still get the job done.
Before choosing a trading platform one must really understand the difference between the 2 types of stock brokers,
- Full- Service Broker
- Discount Broker
What is a Full - Service Broker?
As the name suggests, a full-service broker is a traditional broker who offers full service portfolio for their customers. The service range from like research advisory, investment services, wealth management and portfolio management services. All these and more come under the ambit of full-service broking services provider. A full-service broker will provide both Online and Offline services to complete the circle.
Brokerage - Typically charges a percentage of trade value as brokerage. May offer lower percentages to high volume traders.
Brokerage Charges - Brokerage Charges are 0.25% - 0.75% (Approximate)
Services - Broking Services, Research, Wealth Management, PMS, Depository services etc.
Suitable for - Traders and Investors who’d like specialized research or guidance regarding investments.
Physical Presence - Anytime and anywhere motto. Available in multiple locations.
Customer service - Email/Call/Branch Servicing/Doorstep servicing etc. Offer dedicated RMs for clients.
Examples - Choice Broking, Motilal Oswal, ICICI Direct, Kotak securities etc
Research - In-House research
What is a Discount Broker?
Discount brokers are essentially technology companies like Zerodha. They offer fixed brokerage plans.
Brokerage - Discount as in Flat fee for a trade as Brokerage.
Brokerage Charges - Brokerage Charges are Generally ₹10- ₹20 per order.
Services - Trading Platform.
Suitable for - Good for traders who use their own research for trading.
Physical Presence - Zero branch offices.
Customer service - Online services email/chat/phone. No RM services.
Examples - Zerodha, Upstox etc.
Research - Tie-ups with 3rd party research providers like Morningstar etc
Beginners should go for full-service brokers to start their trading journey.
The best trading platform for beginners should offer the below services,
- Get updates on Indian and Global Financial Markets
- Track all the top exchanges in India i.e. NSE, BSE, MCX and NCDEX
- Provide experts opinions, reports and trade / Investment calls
- View Charts
- Portfolio Monitoring
- User-friendly Interface
- Best overall user-experience
Jiffy is the platform to go for as it offers all of the above and more. It really allows you start trading stocks right from the palm of your hand.
Jiffy gives you access to trading and investing thousands of individual stocks and ETFs. The research team provides theme-based investment reports for various sectors like finance, technology among others.
Let’s look at some of the features on the Jiffy,
The Dashboard is One Screen for Everything. You can see the status of the market, your investments, research report and trade or navigate to other sections from there.
Jiffy also comes with Hindi – Gujarati – Marathi – Malayalam options
Personalize your trading style upfront including chart preferences, market indices and research reports. Set and forget.
Universal Search for equities, commodities, currencies, futures and options. User can search and use Add to Watchlist & Price Alerts
Watchlist with Filter
Users can now add up to 50 scrips each in 5 Watchlists provided with Unique Watchlist filters
Use your natural swiping style for better trading. Jiffy now has swipe navigation all the way through various screens for quicker navigation. +
Add smart chart studies for in-depth scrip analysis, what’s more, user can directly BUY or SELL from the chart.
And many more features like,
- Instant Market info, Top- Gainers, Top Losers and more
- Fingerprint and Face Id(IOS) for Login and more security
- Integrated Message Hub
- Smart IPO Section
- In-Report Buy/ Sell
- Global Indices DOW JONES, NASDAQ, S&P 500 and more
- Instant In-app Reports with Backoffice to Custom Reports
Convinced yet? With its features and service portfolio; Jiffy is by far the best stock trading platform for beginners in India.