Best Free Trading App in India 2024

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Let’s take a look at our compiled list of the most regulated and trustworthy trading apps in India which are free. To review each, we have used real money accounts and compared key criteria. 

In India, there are a myriad of free trading app options. This makes it difficult for traders to find the best broker which is safe and matches their investment goals. 

The three most important steps to avoid poor quality brokers or scam platforms is to do conduct in-depth research, making detailed comparisons and verifying the safety of brokers. 

We’ve made everything simple by creating a list of the top 10 brokers and what type of trading they are best for. We have included comparisons, reviews and FAQs to go along with it. 

Best free trading app in India

Rank	Broker	Score	Best For
1	tastytrade	4.6	Best free trading platform overall. Great for educational materials. Very good research tools.
2	Firstrade	4.5	Best educational content. Wide choice of trading instruments. Very good research tools.
3	Alpaca Trading	4.4	Best for algorithmic trading. Great charting tools. Fast account opening.
4	Zerodha	4.4	Best for Indian Stocks. Wide choice of trading instruments. Very good choice for beginners.
5	ChoiceTrade	4.2	Best for mobile trading. Fast account opening. Great customer service.
6	Upstox	4.2	Best for Mutual funds Good for mobile trading. Good for algorithmic trading.
7	TradeZero	4.1	Best for short selling. Very good educational materials. Great customer service.
8	Angel One	4.1	Best for options trading. Preferred choice of trading instruments. Ample educational materials.
9	Tradier	4.0	Quickest account opening. Great for algorithmic trading. Good mobile trading platform.
10	Fyers	3.1	Most popular for Active Trading. Fast account opening. Good for mobile trading.

Safety and regulation overview in India

For new Indian traders starting to trade, it is very important to prioritise safety and regulatory compliance, whether trading internationally or locally.  Here’s an overview for beginners. 

International regulatory authorities: When choosing a broker, it is crucial to opt for those regulated by the FCA, ASIC or the SEC, as these regulators have rules that secure your funds, provide transparency and add confidence to their trading. 

Reserve Bank of India (RBI): Forex exchange transactions are governed by the RBI under the Foreign Exchange Management Act (FEMA). Thus, for newbies, it is critical that they choose a broker that complies with FEMA to avoid any legal hassles in the future. 

Focus on risk management: When trading with international brokers, especially using leveraged products, there is a massive amount of risk due to currency fluctuations and market volatility.  Beginners have to understand these risks and grasp the concepts of terms like leverage and margin before starting to trade. 

Global trading compliance: New traders should always look for brokers who support cross-border trading. Not only should the broker provide clear guidelines on fund remittance, but it should also adhere to legal trading standards provided under RBI regulations. This ensures compliance and ease of transactions. 

Custodian services: Choose brokers that have a rule of storing client funds in segregated accounts. These should remain separate from the broker’s operating funds. This reduces the chances of losing client funds if any financial difficulties occur. 

Key Points For Indian Beginners

• Maintaining compliance with FEMA regulations: As a way of preventing legal problems in future, it is advisable that all funds taken out of the country through an Indian Broker, comply with remittance policies provided by the Reserve Bank of India’s LRS.
• Picking International Brokers with Good Reputation: Brokers who are regulated by renowned regulatory bodies, such as ASIC, SEC or FCA should be prioritized. 
• Tax obligations: You need to declare these earnings under business income or capital gains to adhere to existing Indian tax laws. 
• Transparent fee structures: Select brokers who provide information about cost structures upfront. This should include information on trading commissions, currency conversion charges and withdrawal fees. 
• Check out broker’s security features: Make sure the broker you choose has secure features like segregated accounts for client funds, superior data encryption and negative balance protection to secure your investments. 
• Indian client support: Go for brokers which provide customized services for Indian clients. 
• Leverage and margin requirements: The ideal way for new traders to start seeing their earnings grow is by using leverage. However, it is not without its risks. Therefore , new users should also be informed of the fundamentals of margin requirements and the associated risks. 

Safety and Regulation Comparison for Free Trading Apps

There are some crucial areas that gauge the trustworthiness of a broker – who the regulators are, what investor protection they provide and any history of misconduct or scandals. This information is broken down in the table below. 

Broker	tastytrade	Firstrade	Alpaca Trading	Zerodha	ChoiceTrade	Upstox	TradeZero	Angel One	Tradier	Fyers
Top -tier Regulators	SEC and FINRA (USA), ASIC (Australia)	SEC and FINRA (USA)	SEC and FINRA (USA)	–	SEC and FINRA (USA)	–	SEC and FINRA (USA), CIRO (Canada)	–	SEC and FINRA (USA)	–
SEBI regulated	No	No	No	Yes	No	Yes	No	Yes	No	Yes
Trusted Broker	Yes	Yes	Yes	Yes	Yes	Yes	Yes	Yes	Yes	Yes
Year of Foundation	2017	1985	2015	2010	2000	2009	2015	1996	2012	2016
Investor Protection	$500k (cash up to $250k)	$500k (cash up to $250k)	$500k (cash up to $250k)	No	$500k (cash up to $250k)	No	$500k (cash up to $250k), 1M CAD to Canadian clients	No	$500k (cash up to $250k)	No
Involved in Scandal	Clean track record: no major regulatory incidents or fines	Clean track record: no major regulatory incidents or fines	Clean track record: no major regulatory incidents or fines	Clean track record: no major regulatory incidents or fines	Clean track record: no major regulatory incidents or fines	Clean track record: no major regulatory incidents or fines	In 2024 paid a $250,000 fine because it failed to adequately oversee the content posted by online influencers the firm paid to promote its service.	In 2024, personal information of all customers were published on a hacker’s forum	Clean track record: no major regulatory incidents or fines	No major regulatory incidents or fines. Clean track record.

Comparing Fees

We have compared the fees of the selected platforms in the table below. Zerodha does not charge any fees on Indian stocks while Tastytrade does the same for US stocks. 

Broker	tastytrade	Firstrade	Alpaca Trading	Zerodha	ChoiceTrade	Upstox	TradeZero	Angel One	Tradier	Fyers
US stock fee	$0	$0	$0	–	$0	–	$0.99 flat fee for orders up to 200 shares, $0.005 per share above that; limit orders that are 200 shares or more are free	–	$0.35 per trade; Free for Pro or Plus Pro plans	–
Indian stock fee	–	–	–	$0	–	0.25% with 20 INR max	–	0.25% with 20 INR max; 0 INR for first 30 days	–	0.25% with 20 INR max; 0 INR for first 3 months
US stock index option fee	$1 per contract	$0	–	–	$1 per contract; max $20 per trade	–	$0.59 per contract	–	$0.35 per contract; $0.10 per contract for Plus Pro plan	–
Mutual fund fee	–	$0	–	0.03%	–	0 INR	–	0 INR	–	0 INR

Comparing non-trading fees 

Account fees, deposit fees and withdrawal fees are just some of the examples of non-trading fees. These are compared in the table below. As per our findings, Tastytrade does not have any deposit fees while Firstrade does not have any withdrawal fees. 

Broker	tastytrade	Firstrade	Alpaca Trading	Zerodha	ChoiceTrade	Upstox	TradeZero	Angel One	Tradier	Fyers
Account fee	$0	$0	$0	300 INR yearly + 18% GST yearly	$10 monthly	0 INR	$0	20 INR monthly; o INR for the first year	$0	0 INR
Deposit fee	$0	$0	$0	$0	$0	0 INR	$0	0 INR	$0	0 INR
Withdrawal fee	$0	$0	$0	$0	$5	0 INR	$15	0 INR	$0	0 INR
Inactivity fee	$0	$0	$0	$0	$45 per quarter if less than 5 trades in previous quarter	0 INR	$0	0 INR	$50 per year if account equity is less than $2000 and it has fewer than 2 trades	0 INR

Comparing Deposit, credit card and account opening 

The table below has compared deposit, credit or debit card availability and account opening speed of selected brokers. Tastytrade takes just one day to open an account while Firstrade does not have any minimum deposit required. 

Broker	tastytrade	Firstrade	Alpaca Trading	Zerodha	ChoiceTrade	Upstox	TradeZero	Angel One	Tradier	Fyers
Minimum deposit	$0	$0	$0	$0	$100	500 INR	$250	10000 INR	$0	0 INR
Time to open account	1 day	1-3 days	1 day	5 days	1-3 days	4 days	1 day	1 day	1 day	1 day
Credit/Debit Card	No	No	No	No	No	No	No	Yes	No	No

Comparing Desktop and web trading platforms 

We have compared trading platforms in the table below. Alpaca Trading ranks first when it comes to demo account access. Firstrade and ChoiceTrade are tied for best choices of trading platforms. 

Broker	tastytrade	Firstrade	Alpaca Trading	Zerodha	ChoiceTrade	Upstox	TradeZero	Angel One	Tradier	Fyers
Trading platform score	4.1	4.5	4.2	3.9	4.5	4.0	4.3	3.7	2.9	4.1
Tradingview	No	No	Yes	No	No	Yes	No	No	Yes	Yes
Algorithmic trading	Yes	Yes	Yes	Yes	Yes	Yes	Yes	Yes	Yes	Yes
Demo account	No	No	Yes	No	Yes	Yes	Yes	Yes	Yes	Yes

Comparing App features 

The table below compared different mobile app features. Out of this, Tastytrade takes first place for the most user-friendly and functional app. Alpaca Trading is also user-friendly but has poor search functions. 

Broker	tastytrade	Firstrade	Alpaca Trading	Zerodha	ChoiceTrade	Upstox	TradeZero	Angel One	Tradier	Fyers
Mobile app score	4.6	4.6	4.5	4.2	3.7	4.2	4.4	4.0	3.3	4.4
User friendly	Yes	Yes	Yes	Yes	Yes	Yes	Yes	Yes	Yes	Yes
Two-step (safe) login	Yes	No	Yes	No	No	No	Yes	No	No	No
Search function for markets and products	Good	Average	Poor	Good	Poor	Good	Good	Good	Poor	Good
Variety of order types	Good	Good	Good	Good	Good	Good	Good	Good	Good	Good
Price alerts	No	Yes	No	Yes	No	Yes	No	Yes	No	Yes

Comparing Product selection, markets and financial assets 

The table below compares available financial products. While Firstrade had the best variety of products on offer, Tastytrade provides options for fractional share purchasing. 

Broker	tastytrade	Firstrade	Alpaca Trading	Zerodha	ChoiceTrade	Upstox	TradeZero	Angel One	Tradier	Fyers
Stocks (markets)	4	5	5	2	5	2	3	2	5	2
ETFs	2200	3800	4000	66	2300	66	600	18	123	66
Fractional shares	Yes	Yes	Yes	No	No	No	No	No	Yes	No
Mutual Funds (providers)	–	450	–	39	–	39	–	15	–	39
Bonds	–	38500	–	145	–	–	–	–	–	–
Options (exchanges)	8	5	5	2	5	2	10	2	10	2
Futures (markets)	8	–	–	2	–	2	–	2	9	2

Comparing User bases of top international brokers 

The table below compares the number of clients per broker. Zerodha tops this category. 

Broker	tastytrade	Firstrade	Alpaca Trading	Zerodha	ChoiceTrade	Upstox	TradeZero	Angel One	Tradier	Fyers
Number of clients	105k	N/A	N/A	7.2M	3k	130M	N/A	7.9M	N/A	500k

Reviewing Top free trading app in India 

Tastytrade

Broker	tastytrade
Minimum deposit	$0
Time to open account	1 day
Stocks (markets)	4
Options (exchanges)	8
US stock fee	$0
Inactivity fee	$0

US stock fee	$0
US stock index option fee	$1 per contract

Tastytrade is a broker which provides educational playlists which helps traders understand complex trading strategies. Its app is optimized for derivative trading, enhancing options strategy visualization and execution. Beginners will enjoy the “follow” options which allow users to copy expert trades. Tastytrade’s visual trading interface displays options strategies to help traders understand potential outcomes. Users additionally get live broadcasts with market analysis and trading tips to make informed-trading decisions. 

Pros:

• Tastytrade enhances affordability by offering little to no fees on many trading activities. 
• Precise strategy management is possible by using advanced order types like conditional orders. 
• Traders can get ahead of current market trends by accessing actionable research and analysis. 
• The app provides a quick and efficient way of trading without delays. 
• Users can extensively customize and track investment strategies in real time. 

Cons: 

• Customer service can lag during peak trading times. 
• Beginners may get confused due to the ample number of advanced features and the focus on derivatives. 

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Firstrade

Broker	Firstrade
Minimum deposit	$0
Time to open account	1-3 days
Stocks (markets)	5
Options (exchanges)	5
US stock fee	$0
Inactivity fee	$0

US stock fee	$0
US stock index option fee	$0

It provides traders a way to trade stocks, ETFs, options and mutual funds without paying any commissions. Traders get to use advanced order types like trailing stop and stop-limit orders.  To provide the highest level of security, it provides 2FA authentication and biometric login. Traders can easily access real-time streaming quotes and market news. All of this is possible through an intuitive interface with a streamlined portfolio dashboard. 

Pros:

• It is ideal for newbies as there is no account minimums. 
• The broker provides extended hours trading. 
• It provides an ample collection of educational resources including videos and tutorials. 

Cons: 

• Advanced analysis is not possible using the basic research tools it provides. 
• Customer support slows down during peak usage hours. 

Alpaca Trading

Broker	Alpaca Trading
Minimum deposit	$0
Time to open account	1 day
Stocks (markets)	5
Options (exchanges)	5
US stock fee	$0
Inactivity fee	$0

US stock fee

$0

Alpaca Trading is the best place for experiencing commission-free trading for ETFs and U.S. stocks. It also provides API access for algorithmic and automated trading. Users can use advanced order types like trailing stop and stop-limit with ease thanks to a simple and intuitive design. It allows extended hours trading for both pre-market and after-hours access. 

Pros: 

• It is ideal for newbies as there is no account minimum. 
• Traders can invest in small scale in fractional shares. 
• They can also use paper trading to test strategies in a risk-free way. 
• It is regulated by FINRA and SEC. 
• The developer community behind it is very active for collaborative trading ideas. 

Cons: 

• There is no direct customer support offered, as its available only in the forms of forums. 
• Deposits and withdrawals only support bank transfers. 

Zerodha 

Broker	Zerodha
Minimum deposit	$0
Time to open account	5 days
Stocks (markets)	2
Options (exchanges)	2
US stock fee	–
Inactivity fee	$0

Indian stock fee	$0
Mutual fund fee	0.03%

Zerodha presents a clean interface which provides multiple watchlists and streaming quotes in real-time. Experienced traders will have a field day with the collection of advanced charting tools with various indicators and drawing options. It supports order types like stop-loss and after-market orders. Other features like quick fund transfers with multiple payment options make the trading experience smooth and seamless. 

Pros: 

• Zerodha is ideal for users with connectivity issues as its efficient on low internet speeds. 
• Zerodha comes with the Kite app which integrates with the broker’s other products. This enables access to features like Coin for mutual funds, Console for portfolio tracking, and Sentinel for advanced price alerts. 
• It provides regional customer services through multi-lingual support. 

Cons: 

• The degree of customization is less compared to its peers. 
• It requires an external app for price alerts. 

ChoiceTrade

Broker	ChoiceTrade
Minimum deposit	$100
Time to open account	1-3 days
Stocks (markets)	5
Options (exchanges)	5
US stock fee	$0
Inactivity fee	$45 per quarter if less than 5 trades in previous quarter

US stock fee	$0
US stock index option fee	$1 per contract; max $20 per trade

ChoiceTrade’s intuitive interface allows for easy navigation. It supports different order types including market, limit, stop and trailing stop orders. Users benefit from the real-time streaming quotes and market data directly from the platform. Security is prioritized with secure login protection. It seamlessly syncs across multiple devices offering a seamless experience. 

Pros: 

• Traders can joy stock and ETF trading without paying any commission. 
• The account setup process is quick and fully digital. 
• The broker’s mobile platform is streamlined for on-the-go trading. 

Cons:

• It only provides U.S. stocks and ETFs. 
• The entire withdrawal process is cumbersome, limited only to bank transfers. 

Upstox

Broker	Upstox
Minimum deposit	500 INR
Time to open account	4 days
Stocks (markets)	2
Options (exchanges)	2
US stock fee	–
Inactivity fee	0 INR

Indian stock fee	0.25% with 20 INR max
Mutual fund fee	0 INR

Upstox is a reputed broker which provides a customizable user interface. It lets its users access global markets, including Chinese, Hong Kong and U.S. A-shares. Upstox also provides advanced charting tools for technical analysis. The platform also provides free real-time level 2 market data. Like many other brokers on this list, traders can practice strategies using paper trading. 

Pros:

• Traders enjoy commission free trading for U.S> stocks, options and ETFs. 
• The broker provides low margin rates and extended trading hours.
• There is an ample number of educational resources to help both novice and expert traders. 

Cons:

• It does not provide mutual fund or cryptocurrency trading.
• Beginners may find it difficult as the platform has got a steep learning curve. 

TradeZero

Broker	TradeZero
Minimum deposit	$250
Time to open account	1 day
Stocks (markets)	3
Options (exchanges)	10
US stock fee	$0.99 flat fee for orders up to 200 shares, $0.005 per share above that; limit orders that are 200 shares or more are free
Inactivity fee	$0

US stock fee	$0.99 flat fee for orders up to 200 shares, $0.005 per share above that; limit orders that are 200 shares or more are free
US stock index option fee	$0.59 per contract

With TradeZero, traders can access hard-to-borrow stocks for short selling. The platform is a goldmine for advanced traders who can access real-time Level 2 market data for deeper insights and advanced charting with technical indicators. Traders can execute orders quickly using customizable hotkeys. Additional features include pre-market and after-hours trading support. 

Pros: 

• Traders get direct market access for faster trades. 
• Non-U.S. accounts have to follow No Pattern Day Trading rules. 
• Better order control is possible via multiple routing options. 

Cons: 

• Advanced tools such as Level 2 data, require extra fees. 

Angel One

Broker	Angel One
Minimum deposit	10000 INR
Time to open account	1 day
Stocks (markets)	2
Options (exchanges)	2
US stock fee	–
Inactivity fee	0 INR

Indian stock fee	0.25% with 20 INR max; 0 INR for first 30 days
Mutual fund fee	0 INR

Angel One is a reputed broker which provides advanced charting tools for technical analysis. Along with providing real-time market data with live updates, it also provides multiple tracking watchlists. With Angel One, traders can enjoy integrated trading across stocks, mutual funds and options all the while performing portfolio health check for performance insights. 

Pros: 

• Both experienced traders and beginners will find its user-friendly interface easy to use. 
• It has a wide brand network which provides personalized support. 
• Traders can take advantage of the superior research and advisory services in the platform. 
• Equity delivery trades have zero brokerage. 

Cons: 

• It is limited only to Indian markets. 

Tradier

Broker	Tradier
Minimum deposit	$0
Time to open account	1 day
Stocks (markets)	5
Options (exchanges)	10
US stock fee	$0.35 per trade; Free for Pro or Plus Pro plans
Inactivity fee	$50 per year if account equity is less than $2000 and it has fewer than 2 trades

US stock fee	$0.35 per trade; Free for Pro or Plus Pro plans
US stock index option fee	$0.35 per contract; $0.10 per contract for Plus Pro plan

Tradier is a unique broker which can integrate with more than 100 third party tools for advanced customization. Apart from providing real-time market updates with dynamic data feeds, the platform also focuses on educational support which it provides through webinars and strategy tutorials. It is a unique broker which focuses on intuitive strategy-building tools and multi-leg options trading. 

Pros: 

• Provides an attractive suite for customized tools for active options trading. 
• It scales well for small and high-volume traders. 
• There are no hidden fees. 
• Customer support through chat and phone is very responsive. 
• Exchange insights thanks to a substantial trading community. 

Cons: 

• The broker does not provide forex trading or mutual funds. 
• Focuses more on options traders. 

Fyers

Broker	Fyers
Minimum deposit	0 INR
Time to open account	1 day
Stocks (markets)	2
Options (exchanges)	2
US stock fee	–
Inactivity fee	0 INR

Indian stock fee	0.25% with 20 INR max; 0 INR for first 3 months
Mutual fund fee	0 INR

Fryers is another great broker for both advanced and novice traders. With advanced features such as advanced charting tools for technical analysis, real-time market data with live updates and portfolio tracking, it is a trader’s best friend when it comes to making well-informed decisions. With Fryers, traders can enjoy integrated trading across stocks, options and even mutual funds. They can effectively monitor their investments using multiple watchlists at their disposal. 

Pros: 

• Traders feel right at home with a user-friendly interface. 
• They can harness the powers of comprehensive research and advisory services present in the platform. 
• Equity delivery trades attract zero brokerage.
• The broker supports a wide range of asset classes.

Cons: 

• The broker is limited only to Indian markets. 

Finding the best free trading app in India.

It’s crucial for novice traders in India to select an effective trading app. We have considered key functionalities and features when evaluating the best options for traders. 

• Deposit/withdrawal and account opening: We’ve given high ratings to brokers that have dependable RBI and FEMA compliant deposit/withdrawal processes and fast account setups. Brokers providing local payment methods like Net Banking and UPI are valued higher. 
• Non-trading fees: We have considered hidden costs such as inactivity charges, withdrawal fees and account maintenance. Preference has been given to brokers with minimal or no non-trading fees. We have also considered currency conversion fees from INR to USD or EUR. 
• Fees: Brokers that provide competitive fees for international trading are ranked higher, especially those who focus more on low commissions and tight spreads. Priority is given to brokers who provide transparent fee structures designed for Indian clients for trading in global stocks, ETFs and Forex. 
• Safety (Regulation): Only choose brokers regulated by top-tier authorities. Examples include the FCA, ASIC, CySEC, RBI, and FEMA guidelines.
• Mobile App/Trading Platforms: Brokers are rated for their mobile trading experience. The app must meet high standards for usability and functionality.
• User-Friendly Interface: The app should be easy for beginners and experienced users. It must make navigation and trading simple.
• Search Function: The app needs a reliable search tool. This helps traders find and trade products and markets quickly.
• Two-Step Login: Security features like 2FA are important. They help protect user accounts.
• Real-time price alerts: The app must provide instantaneous price movement alerts and other market change notifications to help traders take advantage of trading opportunities. 
• Variety of order types: The app should support multiple trading orders to enhance trading strategies. This assists traders to manage risk and execute trades after considering specific market structures. 

Taxation for free trading apps in India

It is crucial for a trader to understand the tax implication of his trading activities. 

• Dividend income: The Indian government may tax dividends from foreign companies in the source country. Potential relief exists under DTAA. 
• Currency conversion: Trading profits must be converted to INR before being subject to taxation. The amount of tax payable is dependant on currency fluctuations. 
• Capital gains: The Indian government taxes profits on investments held for less than 24 months at the individual’s tax slab rate. The tax rate becomes 20% for holdings exceeding 24 months, with indexation benefits. 
• Speculative Income: Any profits from intraday trading activities are taxed as per the individual’s tax slab. 

Traders should consult with a tax advisor to make sure they follow these rules effectively. 

Started trading using a free app in India

To start trading in India using a free app, set up the app and prepare to trade:

• Choosing a reputable broker: Go for a broker that is regulated both in India and globally. 
• Digital account opening: Next, use your PAN card, passport, Aadhaar and proof of residence to easily set up your account online. 
• Fund your account: Deposit your funds using legal methods under the Liberalized Remittance Scheme. Take note of the currency conversion fees and the annual $250,000 remittance limit. 
• Use educational resources: To better grasp the concept of market dynamics before starting to trade, you can use the app’s educational content and tools. 
• Use risk management strategies: Use strategies such as stop-loss orders to protect against market volatility. 

Following the above steps ensures that you are well-prepared to dive into the trading world. Next, you need to concentrate on the next crucial steps in active trading and portfolio management. 

How to trade on my phone

Once your trading account is set up and funded, you’re ready to begin. Follow these steps to manage your trades effectively:

Plan and research: Take time to explore potential stocks. Use the app’s tools to analyze data and trends. Plan your entry and exit points carefully.

Execute trades: Place your trades directly in the app. Pick the right order type—market, limit, or stop—to match your strategy.

Stay updated: Keep track of price changes and news that affect your investments. Turn on real-time alerts for quick updates.

Monitor and adjust: Check your portfolio regularly. Use insights from the app to tweak your strategies and improve results.

Keep learning: Dive into the app’s educational resources. Stay curious and refine your trading skills over time.

Types of trading available for free trading apps in India

There are a variety of trading options available through free trading apps for Indian traders: 

• Stocks: Purchase and sell shares of major international companies in the hopes of profits. 
• ETFs: Invest in globally recognized exchange-traded funds which are great tools for diversifying a portfolio. 
• Forex: Trade in a number of major and minor currency pairs. 
• Commodities: Get access to trading commodities such as oil and gold. 
• Cryptocurrencies and mutual funds: Invest in mutual funds and cryptocurrencies, the latter of which are subject to regulatory approvals. 

Conclusion

After examining and comparing the top brokers available to Indian traders across numerous categories, we have come to the conclusion that Tastytrade is the best free trading app for 2024.

Tastytrade is different from others because of its exceptional mobile application, which provides proper access to both global as well as US markets. It also supports zero commission fees on trade. This app is known for its intuitive interface. This ensures a seamless user experience which is accessible even on the go. Enhanced by strong security measures like two-step authentication and filled with comprehensive educational resources, Tastytrade provides a safe and enhanced trading environment. The effective combination of user-friendly features and cost effective solutions make Tastytrade a perfect choice for Indian clients looking for ways to engage with international markets effectively.

FAQ

What is an online broker?

An online broker can be simply described as a financial service provider which enables you to buy and sell various financial instruments like mutual funds, bonds, ETFs, stocks and derivatives through an online platform or a mobile app. You can now execute your trade, observe your portfolio and access market research from the comfort of your home instead of visiting a physical trading office.

Using the services of an online broker is necessary for trading on the National Stock Exchange (NSE) and the Bombay Stock Exchange (BSE). A good broker will offer features like low fees, customer support, user-friendly platforms and access to both Indian and international markets based on your financial goals. For Indian clients who want to trade, an online broker can be the gateway to building and managing investments in an efficient manner.

Are online brokers safe for Indian clients?

Online brokers regulated by recognized government authorities like FCA and SEC are usually safe for Indian clients. It is recommended that you make sure whether they follow RBI and FEMA guidelines or not. This is for extra safety. You must always choose those brokers who offer separate accounts for protecting your funds.

What factors should be considered when choosing a broker for trading in India?

Factors which should be considered when choosing a broker for trading in India are: 

Regulation: When you are trading in India, always select a broker regulated by SEBI. If you want to trade globally, then choose brokers regulated by international authorities like FCA and SEC. Ensure that they adhere to the RBI guidelines.

Asset variety: Always choose those brokers that allow you to trade in a wide range of assets, such as bonds, currencies and stocks.

Fees: Check for low trading fees, transparent pricing and minimal charges for withdrawals or currency conversions.

What fees can be expected when trading in India?

When you are trading in India, you may have to pay trading fees as commissions and spreads, currency conversion fees for international trading, withdrawal fees for transferring money to your bank and possibly non-trading fees like inactivity or account maintenance fees.

Is it legal for Indian clients to trade globally? 

The answer is yes. Indian clients can trade globally using brokers that adhere to the FEMA regulations. Ensure that they comply with the Liberalized Remittance scheme of RBI which allows remittances up to $250,000 per financial year for trading. 

What documents are required for trading from India?

Documents which are required for trading from India are valid ID proof like passport or Aadhaar card, bank account details, PAN card, Address proof like bank statement and LRS declaration form.

How can you manage risks when trading from India?

In order to manage risks, you can use stop-loss orders for minimizing potential losses. You can also diversify your investments across different asset segments and remain updated about economic conditions. You can also select a broker that provides negative balance protection, thus preventing you from losing more money than you have invested.

What is negative balance protection?   

Negative balanced portion can be defined as a feature offered by some brokers that prevent traders from losing more money than they have deposited in their trading accounts. This is especially important for those trading with leverage, as it offers protection against market fluctuations.

What role does RBI play in international trading for Indian clients?

RBI plays an important role in international trading for Indian clients. It regulates all foreign exchange transactions under FEMA and monitors the Liberalized Remittance Scheme (LRS). It makes sure that all currency exchanges and international fund transfer comply with the Indian laws.

Can you trade during international market hours?

Yes, you can trade during international market hours as many brokers allow that. This is possible in markets like Asia, Europe and USA. 

What is a PAN card and why is it required?

A Permanent Account Number card or PAN card is a mandatory identification document required for financial transactions in India. This card is issued by the Income Tax department and it is needed for trading, remitting funds internationally and filing taxes. Brokers use Pan card details for KYC (Know Your Customer) verification and also for ensuring their adherence to RBI guidelines.

What is the difference between a commodity broker and a stock broker?

Commodity brokers are experts in trading commodities like metal and oil. Stockbrokers on the other hand help you in trading shares of various companies. Depending on your interests, you may either choose one or both of them. 

What are ETFs?

ETFs or Exchange Trade Funds are similar to baskets of stocks or bonds that you can buy or sell on a stock exchange. They are ideal for diversifying your investments and usually have lower fees. 

How can you keep your online trading secure?

In order to keep your online trading secure, you can use strong passwords and trade through encrypted platforms. It will be better if you check your account on a daily basis for any kind of unusual activity.