Interestingly, as of September 2023, India recorded around 129.7 Mn (12.97 Cr) in demat accounts. In the digital age, the landscape of investing has been transformed. Gone are the days when people had to contact agents to get some investments done. With the help of proper tools and many investing apps explicitly designed to make the entire process of investing more accessible today, many people are interested in investing due to its ease. These investing apps are
- commission-free
- easy to use
- technologically advanced
Investing provides an opportunity to grow over a period of time. It helps create a long-term foundation for financial success, which can help a person gain control of their financial future and achieve their dream retirement.
If you are also someone who does not have experience with the stock market, shares, NSE, or BSE but is willing to learn about them, connect with NIWS, a Stock market institute in Jaipur, which can help you get started with your learning journey.
Understanding the Basics of Investing
Let’s start with the most basic question- what is investing?
When you constantly put a certain amount of money into something that you feel will give returns in the future, it is called an investment. Traditionally, people would buy gold in the name of investment, but now there is an entire list of investments that beginners can make. It could be-
- Stocks—These represent ownership of public companies. When a company performs better, stock prices go up, giving you some benefit from the stock.
- Bonds—These are issued by the government, and in return, you get interest on the amount invested and a lump sum amount when the bond matures.
- Mutual Funds- The money invested is diversified into multiple places and is usually managed by some professionals only.
These investments are important. It does not matter how much you invest, but it is important to invest consistently. This will help you grow wealth, beat inflation, and achieve financial independence.
Importance of Investing Apps and Tools for Beginners
Investing apps and tools are handy resources for people who are just beginners. They offer multiple options that help to streamline the entire investment process. Let’s delve into the importance of these apps and tools-
- Accessibility and convenience
Unlike traditional brokerage firms, which usually have a complicated interface, these apps are user-friendly. They are straightforward and convenient to use and have tools that allow people to invest with little money. These apps also offer options like-
- automatic deposit
- portfolio tracking
which makes it easier for beginners to manage their investments.
- Educational resources and tutorials
Many apps offer blogs and some material to read, usually regarding shares or tips on investing. These educational resources and tutorials help beginners make informed decisions and build confidence in their ability to trade or invest.
Features to look for in investing apps and tools
While all apps allow people to make an investment, it is crucial to look for some features before you decide which app to choose. These features can make a big difference and will be able to cater to beginner’s needs.
- User-friendly: as most beginners might need help understanding the investment terminology, the app must be easy to use and user-friendly to navigate.
- Automatic investing: Some apps have the option of automatic deposit; in case the user forgets to deposit, the automated deduction helps them set up recurring payments without needing to manage them daily.
- Low fees: Consider the apps that charge no commission or low commission.
Top Investing Apps and Tools for Beginners
Some of the apps which are best suited for beginners include-
Upstox-
- It is backed by Tata Group and is trusted by more than one crore Indians for their wealth-building needs.
- Offers a user-friendly interface.
- Very low on commission.
- It has all the features to help make a speedy and smooth trade.
Zerodha-
- This is best suited for beginners.
- This app covers only the Indian market and is only available for Indian residents.
- It has a friendly user interface and is famous among traders due to its robust technology platforms.
Angel One-
- Offers a variety of investment options and research tools.
- It also has a very easy-to-use interface, allowing its users to navigate comfortably.
- It was one of the first companies known for its low cost.
Groww-
- One of the highest trading apps in India.
- It has analysis tools, which are helpful for beginners.
- It’s an investing app that offers mutual funds, stocks, intraday trading, futures, and options under one app.
NIWS: Your Partner in Learning and Growth
NIWS is a stock market institute in Jaipur and Delhi that offers stock market and career-oriented online and offline courses for investors and traders. They provide course modules in Banking, finance, stock market, portfolio, and Wealth management. The faculty consists of brilliant minds with extensive experience in the stock market, share trading, etc. NIWS strives to help students find career opportunities and job placements in the stock market and professionals to achieve their career goals.
Conclusion
You know, at some point, every single person is a beginner. You have learned about the apps, the investing tools and apps, their importance, and what features to look for when choosing an app for investment. It is time to take the next step and embark on the investing journey. With the ease, accessibility, and convenience these apps provide, it will not be difficult at all.
If you wish to learn more about how you can invest and want to educate yourself in this field, connect with NIWS. They have institutes in Delhi and Jaipur offering courses for beginners who wish to make a career or want to learn the investing process in detail.
