There are two ways in which you can execute a share or stock trade in India. You can either call your broker and execute the order over the phone or you can buy the same online.
The trading software of platform is the key to trading or investing when buying shares through the internet.
Various trading platform or software offered by brokers
Various brokers have their own software or trading platform for buying and selling shares. Sharekhan for example has the Trade Tiger, while Zerodha has the Zerodha Trader and Geojit has the Gold and the Flip. Each trader has got his own software which you can download and then trade in shares.
Which is the best share trading software?
This is a very difficult question to answer, because there is nothing called the best trading platform. Let me give you an example. If you have traded on the Sharekhan Tiger, you may find it a little difficult to trade on other platforms, because the software is very unique. Someone who has used this software for many years, will find it difficult to shift to other platforms.
It has several comprehensive features, which a novice would consider as complex, while someone who has used it for years, will consider it as very very comprehensive.
Zerodha Trader on the other hand is a very friendly software and so are the ones from SMC Global and Geojit.
But, software should not be the only consideration
The real problem is the training in the share broking software and this is where the real problem lies for beginners. Many low cost brokerage houses will process your application online and will inform you of the manner in which you may use the software over the phone.
If you have queries you may end-up visiting their offices. A big brokerage houses like Sharekhan offer you service at your door and could also train you in using the platform.
Software is not the only reason why investors trade through a particular broker. The first consideration is the charges. You first shortlist a broker based on his or her charges and only then you check on the software. So, once you have shortlisted a broker you better understand his software whether you like it or not.
Understanding share broking software or software is not a complex issue. However, there are software of some brokers which are very different and you may need to understand the same.
As mentioned earlier many low cost brokerages do not offer training. Before opening an account with a broker make sure you have done adequate research on his software. If you feel that it is complicated then do not open an account. For a beginner of course it makes no difference because he has to learn in any case.