Investment platform of Indian market in 2024
As we move into new era of technology, there is huge growth happening in all industries moving innovative ideas and gaining market control.
I have been doing some research on using various platforms for the past 3 years. These platforms have been used for over 1 year and I can commit for their authenticity. There were more but had to exclude them due to various reasons.
- Zerodha or ICICIDirect
This is your primary trading account. I have used Upstox, Paytm Money and Groww. Sticking with Zerodha gave advantage of investing in many other equities and trust factor of being the largest broker. Apart from the primary broker, you can try to have your bank supported account if possible to give more ease of investment for better transactions.
- Altius Investment
Want to invest in unlisted shares ? Here is your chance to explore the companies which are not yet listed. This instrument you have to use after you are done with most of the market tools. This is most riskier as there is no liquidity until the IPO.
- Fi Money
This is my primary spending account linked to Federal bank. I use it for emergency fund storage. It supports investments like FD, SD and MF. I chose it because earlier I used to keep PayTM which currently not going well in trust. I had to change it once and for all. I keep it as investing because I recommend you to keep emergency fund as the first tool to invest in before you start with any.
- Kuvera
Mutual Funds are subject to market risk. Its any investing tool that has returns are risky. I used this platform as it gives better management of money linked to long term goals. It has a very good direct plan focused listing that gives you more better returns.
- SmallCase
To make you more disciplined and less worried for monthly systematic investments. Its a must for 20s investors with SIPs enabled.
- Tyke
Platform that will help you to invest in Startups.
- PolicyBazaar
Before you get confused, I want to tell that having insurance in your life helps to take more calculated risks. Here I am talking about pure life insurance without returns (don't consider ULIPs). The insurance helps you not to drain your invested money during emergency. So basic thing you should have is a health and life insurance early in life.
As a investor your primary goal is to diversify your risk in your portfolio. This sometimes leads to creating multiple accounts with different providers. Later for annual taxing and aggregation of profits you will have a tough time. So start using platforms that has most of the investment instruments. If you check my list above there you can also find alternatives of them.
Please read my investment platform article that will give you some clarity on how I am using them together combined for better strategies.
Bonus takeaways
Platforms to invest in outside India, mainly in US Stocks:
- IndMoney
- Fi Money
- Kuvera