Before we delve into different commodity trading apps, let’s understand the meaning of commodity trading. Commodity trading is the buying and selling of various commodities like raw materials or primary agricultural products and their derivative products. Some of the types of commodities are agriculture products, metals like gold and silver and energy products.
It is critical to conduct your own research and select an app that meets your specific needs and preferences. Additionally, before selecting an app, carefully review its fees and commission structures to ensure that you’re getting the best value for your money. Here are the best apps for commodity trading in India:
1. Kite by Zerodha: Zerodha is a popular online stockbroker in India, and its trading app, Kite, provides a variety of commodity trading features. The app is simple to use, provides real-time market data, and allows you to trade in a variety of commodity markets such as MCX, NCDEX, and ICEX. The charges for commodity futures are 0.03% or Rs. 20 per executed order whichever is lower and for commodity options, it’s Rs. 20 per executed order.
2. Angel Broking App: Angel Broking is another popular broker in India that offers a comprehensive trading app for commodity trading. Angel Broking provides its customers with access to a dedicated relationship manager and competitive brokerage rates. The charges for commodity futures and options are Rs. 20 / Executed Order or 0.25% (Whichever Is Lower).
3. 5paisa App: 5paisa is an Indian low-cost brokerage firm that provides a feature-rich trading app for commodity trading. To trade commodities on 5paisa, you must first activate the Derivatives segment when creating your account. Furthermore, 5paisa charges a flat fee of Rs. 20 per trade and provides a variety of value-added services such as investment advisory and mutual fund investments.
4. Upstox Pro: Upstox is a popular online broker in India that offers a trading app, Upstox Pro, for commodity trading. The app is easy to use and offers real-time market data, and advanced charting tools, and allows you to trade in multiple commodity segments such as MCX and NCDEX. The charges for commodity futures are Rs. 20 per executed order or 0.05% (whichever is lower) and for the commodity option, it’s flat Rs. 20 per executed order.
5. Sharekhan: It is a well-known brokerage firm that provides trading services in a variety of asset classes, including commodities. The Sharekhan Commodity app provides real-time market data on commodities such as gold, silver, crude oil, natural gas, and more. The charges for commodity futures are 0.03% per transaction value and for options, it’s Rs. 75 per lot.
Commodity trading can be difficult. As a result, traders are advised to use user-friendly platforms. This would not only improve their experience but would also allow them to avoid any problems.
Source - https://medium.com/@deepakcomparebroker/best-commodity-trading-apps-in-india-5d20eae66f0e
Related - https://comparebrokeronline.com/