Financial Apps & Services
If done correctly, smartphone apps may be a great tool for financial service providers to deliver services to their clients. We looked at six of the most popular smartphone applications in India to see what design aspects are required to properly realise the promise of combining a financial service with a smartphone interface.
We picked India because an unprecedented number of individuals there are using cellphones to access financial services for the first time. That initial impression is vital, and it should not be lost due to bad user interface design. The goal of this research is to show how little changes may have a big impact, and it builds on our previous work on smartphone design principles for mobile money. We want to start a larger debate about the potential that excellent design opens for financial services through cellphones, in addition to practical design proposals.
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The fact that CoinDCX offers multiple cryptos such as Bitcoin, Ethereum, and many more altcoins is their unique selling point. It implies that various cryptocurrency traders will be able to utilise this platform and will not have to go elsewhere. This, however, comes at a cost. Because a freshly formed altcoin will not be subjected to the same examination, there may be more scam coins.
★★★★★
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PROS:
- A diverse selection of coins are available for exchange.
- It has sufficient liquidity across a wide range of trade pairings.
- Trading fees are modest, and the minimum amount for a trade is likewise low.
- With a single tap, you can buy and sell instantly.
- It has a margin trading leverage of around six times on a variety of assets.
- It supports UPI and IMPS as payment options.
- Continuous and live customers are also available to address questions immediately.
- The leverage in futures trading is approximately 20 times.
- It is available on a variety of platforms.
CONS:
- There are no other alternatives than INR as a FIAT currency.
- Higher FIAT values will need verification.
Jarvis Invest, as we believe, it is impossible to control emotions for most investors. We will talk about the advantages of using Jarvis for investing.
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Free!
PROS:
- Identify Investment Oppurtunity
- Optimise For Maximum Returns
- Create A Diversified Portfolio
- Monito Performance
- Manage Risks 24x7
- Review At Regular Intervals
Axis Mutual Fund launched its first scheme in October 2009 Since then Axis Mutual fund has grown strongly.
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PROS:
- Offers both direct and regular mutual funds
- Offers more than 6,000 mutual funds from 23 different fund houses
- Offers in-house Axis bank mutual fund schemes
- Provides a dedicated mutual fund website and mobile app for investment
- Can contact customer care online or offline
CONS:
- Charges commissions on regular schemes
- Axis Mutual Fund mobile app has very basic features
- Charges transaction cost which is not charged by many other mutual fund providers
Take charge of your financial future. With IIFL tools, charts, analysis and research, you can build a diverse portfolio and enjoy satisfying returns by investing across a wide range of options.
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Free!
PROS:
- Being a full-service broker they have branches across India and abroad.
- They provide free research reports for Equity shares and Mutual Fund recommendation.
- For providing margin funding they also accept personal Fixed Deposits as collateral.
- Customers can trade in equity, commodity, and currency through a single platform.
CONS:
- IIFL brokerage charges are very high in comparison to other stock brokers.
- They offer only Regular Plans in Mutual Funds.
- The minimum brokerage which is high when compared to other brokers.
Trade Smart Online offer best stock brokerage services to fit your financial objectives Your single destination to entire range of stock market solutions.
★★★★★
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Free!
PROS:
- The company provides 2 brokerage plans which can suit every trading strategy.
- They provide flexibility to switch over from one brokerage plan to another, depending upon their strategy.
- Transaction charges (turnover charges, clearing charges, etc) are one of the lowest in the industry.
- No account opening charges.
- Provides Margin against Shares (MAS)
CONS:
- They charge extra additionally for Call & Trade.
- Intraday positions (MIS, CO & BO), if squared off by the RMS team, is charged extra.
- Doesn't provide portfolio management services, tips or research reports.
- One cannot apply for an IPO.
Seize your opportunity, get the Tech Driven Trading Edge with ANT. Perfect for both beginners and experts
★★★★★
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Free!
PROS:
- Free Equity Delivery brokerage in Freedom (F20) plan.
- Trading Platform is backed by ANT.
- NEST offers a Risk and Order Management System to understand the trading strategy.
- ANT Trading Software is available for free to all its customers.
- Offers access to a range of third party online trading tools & apps.
- The free daily market report is available to all customers.
- Refer and earn features
CONS:
- NCD and Corporate bonds are not available.
- Call & Trade are available at an extra ₹20 per executed order.
- Presence of many third party products makes the site cluttered.
- One cannot expect quality assistance.
- Online trading is not that advanced like other brokers
- They might close the account if found no activity for the continuous 6 months
- Mobile apps are not frequently upgraded and sometimes cause problem in trading.
A full-service broker providing investment & trade in all major segments discounted costs.
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Free!
PROS:
- Full-service broker offering discount brokerage plans.
- Flat rates per executed order across all the trading segments in Lite plan.
- Provides free research, trading tips, and recommendations.
- They have offline presence through branches and franchises which makes it convenient for customers.
- Relationship managers and add-on services like PMS are available.
CONS:
- Charges high minimum brokerage in delivery, Intraday and Futures.
- Call & Trade is available for an additional cost in Lite plan.
- Additional costs for research calls and trading tips.
- They do not provide a platform for commodity options.
Get started on your wealth creation journey!
- Best Platform built for both Investors and Traders
- Investments through our platform is Safe & Secure
★★★★★
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Free!
PROS:
- The software uses two-factor authentication to protect your data.
- Paytm Money provides the lowest brokerage fees for intraday and F&O trading at Rs 10 per trade.
- A Mutual Fund Investment Advisory service is offered by Paytm Money.
- They have basic Trade Book, P&L, Tax P&L, and Ledger Statements.
- Features like Option Chain, Heatmap, Greeks, FII/ DII, Global Index, Market Movers, OI Analysis are coming soon.
CONS:
- Paytm Money has no offline services.
- The broker does not accept NRI traders.
- A user can't exchange goods or money.
- Although AMC is 0, subscribers are charged a Rs.300 yearly platform cost.
- Paytm Money is a relatively young broker, having launched in 2017.
Angel One offers a safe, seamless, online share trading platform. This stock trading application helps in tracking your investments online*.
★★★★★
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Free!
PROS:
- Acts as Full-service broker at low brokerage fees.
- Provides daily investment advisory and research reports to the customers.
- Provides free equity delivery.
- Provides an option to invest in Corporate bonds.
- Quick Account opening in 15 mins.
CONS:
- Call & Trade is charged for an extra ₹20 per executed order.
- One should not expect excellent customer support.
- The mobile interface is difficult to understand.
- Provides only regular Mutual Fund plans.
