Investment industry has got a lot of exposure to technology. This technology has lead to the increase in the competition in the industry. The use of technology in investment industry has lead to the use of Algorithmic trading. HFT Algorithm means the automation in placing of trades. Algorithmic trading has helped in achieving low latency. The advantages of Algorithmic trading for investors are:
- Helps in placing the trade as fast as possible.
- Reduces the overall cost of investment.
- Helped in making investment convenient.
Algorithmic trading has played a great part in helping the trading platform. The trading platforms are achieving good results because of this innovation of HFT Algorithm. High Frequency trading has some brilliant features. HFT algorithms break down the order into various pieces and execute them according to the market conditions. There are various trading platforms available in the market. Best trading platform in India is not easy to determine. There are many trading platforms that provide variety of services. Some of the trading platforms are:
- Wisdom Capital: They charge no commission on normal equity trading. Even no brokerage is charged for intraday trade. They earn on the basis of Futures and options. No annual maintenance charge is taken. Opening of the account is also free.
- RKSV security: It also charges zero brokerage for normal trades but also charges a flat fee for intraday trade (Rs.20) and after first 5 trades the same fees is charged for equity trading. Opening charges are free for ISB readers.
- SAS Online: It charges account opening charges of Rs.400 and it charges 0.07% per trade for normal trades.
- Tradeplus: The account opening charges charged are Rs.500 but it is redeemable. It charges Rs.99 for unlimited commodity trading. Also some fees for futures and options are also charged.
- ICICI direct.com: Brokerage charged for equity trading is 0.55%. They also charge account opening charges of Rs.975. Intraday charges are 0.05% on every trade. There are AMC charges as well of Rs. 500.
- Kotak Securities: Opening accounting charges Rs. 750. Brokerage for equity trading is 0.59%. Intraday trading charges for 0.06%. AMC charges are quiet reasonable Rs.50.
- Motilal Oswal: Accounting opening charges are Rs.550 and annual charges are Rs.900. Brokerage for equity trading 0.5%-0.9%. Intraday trading has no charges.
- IIFL: Opening account charges are Rs.750 and AMC is Rs.450. Equity trading is 0.5% and intraday trading is 0.05%.
- India Bulls: Opening charges are Rs.1350 and AMC is Rs.450. Equity trading is charged at 0.30% and intraday charge is 0.05%.
Equity trading is made much easy by these trading platforms. The best platform in India is completely subjective and depends on customer satisfaction. There are different factors that need to be considered before selecting a trading platform. The good the technical support system is of a platform the better trading platform. People consider a platform better one according to their suitability and rate them accordingly. But a good trading platform is the one that takes minimum brokerage and gives the best execution price.