Sharemarket trading has become more popular in recent years as people have actively acknowledged the wealth-building potential of this activity. Needless to say, there has been an influx of stock market apps, where each claims to be the best share market app. However, not all stock market apps are built equal.
There are certain features that distinguish certain stock trading apps, like mStock, from the crowd. Let’s explore these special characteristics.
1. Zero Brokerage Trading Experience:
The share trading sphere is heavily crowded. Thus, online trading apps must come up with innovative strategies to stand apart from their competitors. Apps like mStock have identified this need early on, and it is clearly visible through their offering of a zero brokerage Demat account.
Brokerage fees can sometimes be a hindrance for investors who are on a tight budget. By eliminating this fee for a one-time payment, the best trading app gains a better opportunity to attract users to their platforms. Likewise, investors realize that apps that offer a zero brokerage trading experience for a lifetime are more promising in generating higher returns, since the investment is low due to the lack of brokerage charges.
2. Margin Trading Facility:
Stock market apps that put excessive emphasis on making the trading experience frictionless for new traders may often overlook customizing their offerings for experienced traders. One such offering is MTF or Margin Trading Facility. Novice traders are generally warned against margin trading due to its riskier nature. However, for seasoned investors, margin trading facility can be the doorway to sky-high returns on stocks listed on bank NIFTY and other indices.
Margin trading facility allows investors to continue their trading journey even when they’re short on funds. The concept remains simple – a portion of the order value will be provided by the investor, while the other would be covered by the trading platform or broker. Later, the investor would be required to pay the borrowed amount back with minimal interest rates. The interest rate for MTF can be as low as 0.0192% per day on notable platforms like mStock.
3. Transparent Terms and Charges:
Transparency acts as a bridge of trust between an investor and a mobile trading platform. Users want to clearly understand all costs associated with trading on the platform, including commission rates, account maintenance fees and any other charges. That’s quite the reason why apps like mStock have got thousands of users on their platform.
Having transparent policies and publicly available terms not only encourages an investor to continue using the share market platform, but also increases the chances of an investor recommending the app to other investors. Trust of users can be a motivational factor for app developers to improve their offerings continually.
To conclude, share market platforms must not refrain from utilizing unique strategies to simplify the trading process for their users. For instance, a share market platform that charges an annual account maintenance fee may choose to offer users with an option to make a one-off payment for it – similar to what mStock does. Newest trends that investors have been gaining an inclination towards are zero brokerage trading, MTF and transparency in terms and conditions of stock market platforms. If a trading app wants to stay competitive in the market and attract higher users who want to buy stocks, it must keep up with the trends and continuously innovate to stand apart from the rest.