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In India’s recent digital era, managing online trading activities has become more streamlined. This is primarily due to the available online brokerage firms that enable traders to manage their positions at the comfort of their homes. The onset of Artificial Intelligence (AI) software has also brought massive changes. With AI, data processing and analysis are done at lightning speed. It has become a necessity in this modern trading space, thus attracting many traders.
The best AI tool for the stock market in India uses trading algorithms to manage and execute trades based on predefined criteria with no human intervention. However, how do you identify the best and set it up to maximise your experience and potential? This is where we come in to offer the best recommendations based on thorough research. We will also enlighten you on how to use free stock trading software in India, selecting the best options, and more.
In a Nutshell
- Stock trading in India has proven lucrative. However, to maximise your experience and potential, you need a solid plan and strategy.
- Having the best free AI tools for stock trading in India will give you the peace of mind to trade securely. Simply ensure it is licensed and regulated by SEBI or the RBI.
- The best AI stock trading software should give you access to the National Stock Exchange of India (NSE) and other global exchanges where your preferred assets are listed for purchase.
- Extensively learn about the stock market and equities you want to trade. Understand the factors affecting stock prices to make informed decisions.
- Always apply risk management controls like stop-loss or take-profit orders in your automated trade. You do not want to risk incurring massive losses in case a trade works against you.
- Note that online stock trading in India is considered a business venture. Therefore, all profits from the activity will be subject to capital gains tax.
List of the Best Free AI Stock Trading Software
- Pepperstone – Overall best AI stock trading software
- FP Markets – Best AI stock trading software for Beginners
- Interactive Brokers – Best AI stock trading software for Day Trading
- AvaTrade – Best AI stock trading software for Mobile Traders
- FxPro – Best AI stock trading software for Experienced Traders
In This Guide
Compare AI Tools for Stock Trading in India
At Invezty, we are dedicated to providing unbiased recommendations to our readers. To achieve this, we conduct extensive market research. Our research process starts by identifying hundreds of FCA-regulated AI tools for stock trading. We then conduct multiple tests and comparisons on them considering various elements. These include security, charges, platform performance, and support service.
Besides testing and comparing the software for stock trading, we visit Google Play, the App Store, and Trustpilot to sample user testimonials. By combining our findings from this process with our test results, we come up with such unbiased recommendations.
Let’s compare some of the features offered by our referenced AI stock trading software in India. We hope this table will help you make informed choices.
| Best AI Stock Trading Software India | License | Support Service | Software | Payment | Demo Account |
|---|---|---|---|---|---|
| Pepperstone | FCA, ASIC, DFSA | 24/7 | TradingView, MT4, MT5, cTrader, Capitalise.ai, Social Trading | Bank transfer, Credit cards, Union Pay, PayPal, Skrill | Yes |
| FP Markets | RBI, FCA, FSCA, ASIC, CMA, CySEC, FSA | 24/7 | MT4, MT5, TradingView, cTrader, WebTrader, Mobile App, Copy Trading | Credit/debit cards, Neteller, Skrill, Bank transfer, Google Pay, Apple Pay | Yes |
| Interactive Brokers | FSA, FCA, ASIC, FINRA | 24/5 | Trader Workstation, IBKR EventTrader, IBKR GlobalTrader, IMPACT | Bank Transfers, Wire Transfers, Check, Wise | Yes |
| AvaTrade | CBI, CySEC, ASIC, BVIFSC, FSA, SAFCSA, ADGM, ISA | 24/5 | MT4, MT5, AvaOptions AvaTradeGO, AvaSocial, Capitalise.ai, DupliTrade | Credit/debit cards, Wire transfer, Neteller, Paypal, Skrill, WebMoney | Yes |
| FxPro | FCA, FSCA, SCB, FSCM | 24/5 | MT4, MT5, cTrader | Credit/debit cards, Wire transfers, Skrill, PayPal, Neteller | Yes |
Software Overview
There are numerous AI stock trading software in India, and choosing the best for your requirements is crucial. Various elements must be considered during the selection process. For instance, we noticed that many Indian traders and investors prioritise affordability and asset availability in AI trading software. Therefore, we decided to prepare the tables below highlighting the applicable fees and asset offerings at our top software for stock trading in India.
Fees
| Best AI Stock Trading Software India | Fees | Minimum Deposit Requirement | Transaction | Inactivity |
|---|---|---|---|---|
| Pepperstone | From 0.0 pips | $0 | Free | None |
| FP Markets | From 0.0 pips | $100 | Free | None |
| Interactive Brokers | From $0.0005 on US shares | $0 | Withdrawal fees apply | None |
| AvaTrade | 0.03 pips | $100 | Free | $50 quarterly |
| FxPro | From 0.13 pips | $100 | Free | $10 monthly after 6 inactive months |
Assets
| Best AI Stock Trading Software India | Forex | Stocks | Commodities | ETFs | Options |
|---|---|---|---|---|---|
| Pepperstone | Yes | Yes | Yes | Yes | Yes |
| FP Markets | Yes | Yes | Yes | Yes | Yes |
| Interactive Brokers | Yes | Yes | Yes | Yes | Yes |
| AvaTrade | Yes | Yes | Yes | Yes | Yes |
| FxPro | Yes | Yes | Yes | Yes | No |
Our Opinion about the Best Free AI Stock Trading Software
As mentioned earlier, we tested as many AI stock trading software as possible to ensure we recommend the best of the best. Below, we share overviews of our top AI stock trading software in India based on our hands-on experience and findings. In these mini-reviews, you will understand each software’s offerings, thus choosing what suits your requirements.
1. Pepperstone – Overall Best AI Stock Trading Software
Pepperstone is a well-established online AI stock trading software with a strong presence in India. We chose this Australian-based broker as one of our favourites because of its robust trading infrastructure, which offers one of the fastest order executions. Plus, we like Pepperstone’s AI stock trading feature on its MT4 and MT5 platforms. With AI stocks trading, you will not only streamline your stock trading activities but also customise existing Expert Advisors or create what suits your skill level.
We discovered that this broker lists over 1000 shares, all of which you get to trade as CFDs. Share trading at Pepperstone exposes you to US, UK, Australian, and German equities. This makes it easier for you to explore various options and choose the best for your portfolio diversification. Moreover, share trading at Pepperstone attracts low commissions from $0.02 per share on US equities. The broker also does not have a minimum deposit requirement and you can start by exploring AI stock trading on its free demo account.
Pepperstone
✔800+ instruments
✔No minimum deposit requirement
Pros & Cons
Fees
Trading Assets
Pros
- Licensed and regulated by SEBI and other global authorities
- No minimum deposit requirement
- A comprehensive suite of tools and educational resources
- Features social trading, which is ideal for traders with limited time for market analysis
Cons
- AI stock trading is only supported on the MT4 and MT5 platforms
- Offers only CFD stocks
We identified numerous fees and costs on Pepperstone. First, from our exploration, we discovered that Pepperstone users are subjected to spreads and commissions that vary depending on market conditions and account type. This platform has two accounts: Standard and Razor. Both are associated with different charges and conditions. For instance, Razor accounts only attract commissions when users trade CFDs on Forex.
Pepperstone also charges overnight funding, which kicks in when a trader holds a position in commodities, equities, indices, metals, or cryptocurrencies overnight after 5 p.m. New York Time. This broker’s overnight funding charges vary depending on different factors, including underlying TomNext rate changes.
But here’s the best thing you can derive from our Pepperstone broker review, especially where fees are involved. Pepperstone doesn’t charge account inactivity fees. Moreover, this platform doesn’t charge a single dime for deposits and withdrawals. Furthermore, this broker has no minimum deposit requirements.
2. FP Markets – Best AI Stock Trading Software for Beginners
From our AI software comparison and multiple tests, we find FP Markets a suitable option for beginners. Although it has advanced resources for expert traders as well, we like its user-friendly and customisable platform. Beginners will enjoy numerous learning materials and a virtually funded free demo account to explore AI stock trading before investing real money. This software is also backed up by a team of professionals ready to assist you and ensure you comfortably explore the financial space.
AI stock trading at FP Markets is featured on its MT4 and MT5 platforms. The best element about this feature at FP Markets is that you will limit time for market research. Its autochartist will scan the market on your behalf and send you potentially profitable opportunities via email. And the best part is that this software’s visual quality indicators give novice traders the ability to better interpret chart patterns. With over 10,000 global shares to trade and an award-winning trading app, FP Markets is worth a try.
FP Markets
✔Free deposits and withdrawals
✔No inactivity fees
Pros & Cons
Fees
Trading Assets
Pros
- Low minimum deposit requirement of $100 for Indian traders
- Advanced market research tools for strategy development
- Excellent selection of learning materials
- Numerous tradable instruments for portfolio diversification
- Besides MT4/5 platforms, users will explore TradingView and cTrader
Cons
- You can only trade shares as CFDs or indices
- Those using the Iress platform must deposit at least $1,000 to get started, which, in our opinion, can be high
The outstanding perks of using FP Markets include free deposits or withdrawals. This broker goes above and beyond by covering all internal bank fees arising from international transfers. Moreover, you can start your journey with a free demo account before switching to a live account. Keep in mind that FP Markets’ minimum deposit requirement is $100.
The other commendable thing is this broker has reduced non-trading costs and charges. Take inactivity fees as an example. Unlike many of its peers, FP Markets doesn’t penalize dormant accounts. So, you can stay logged out of your account for as long as you like without fretting over accumulating fees.
That said, we encountered numerous other FP Markets fees and costs. Although you can open a Standard account, which comes with 0 commissions, you’ll still face variable spreads, starting from 1.0 pips. On the other hand, IRESS, FP Markets’ sophisticated premium platform, has commissions that vary depending on geographical location. IressTrader/ViewPoint also has a mandated $60 fee. Luckily, there are free alternatives like MT4 and MT5, which have no platform fees.
3. Interactive Brokers – Best AI Stock Trading Software for Day Trading
From our experience, Interactive Brokers (IBKR) is one of the most reliable and secure brokers, not only for Indians but also for global traders. We primarily recommend it for day traders because of its fast trade execution speed and low commissions for stock trading. Moreover, we like that it has no minimum deposit requirement for Indian traders. This gives all traders, whether new or budget-conscious, an opportunity to explore the share market with any amount they can afford.
We enjoyed AI stock trading at IBKR’s Capitalise.ai third-party platform. The best element about this AI feature is that you can save time to focus on other trading activities. AI will analyse the market for you and send you strategies that could potentially bring profits to your trade. Moreover, Interactive Brokers hosts other trading platforms, including IBKR Mobile, IBKR Desktop, and TWS. These platforms have unique features to accommodate all types of traders. With over 10,000 shares listed to trade at low commissions from $0.0005 to $0.0035 per share with IB SmartRouting, Interactive Brokers is fit for all.
Interactive Brokers
✔Accepts clients in over 200 countries globally
✔Powerful trading platforms
Pros & Cons
Fees
Trading Assets
Pros
- No minimum deposit requirements for retail traders
- Cost-free deposits
- Packed with excellent educational tools and materials
- Commissions as low as $0.0005 on US equities
- A wide range of learning and market analysis tools
Cons
- The desktop platform can be challenging for newbies to navigate
- No third-party platforms like MT4 and MT5
We find IBKR to be one of the most affordable brokers in the financial landscape. For starters, the broker has no minimum deposit requirement. This makes it easier for traders to start trading or investing with any amount they can afford.
Additionally, trading US-listed stocks and ETFs is commission-free on its IBKR Lite account. Other trading assets also attract low commissions, thus making the broker an option for low-budget traders. For accounts with a net asset value of at least $100,000, IBKR allows you to earn interest of up to 4.83% on cash balances.
When it comes to Interactive Brokers margin rates, they are among the lowest. We compared it to others and discovered that its lowest tier has a rate of 6.83% at IBKR PRO and 7.83% at IBKR Lite. Transactions with this broker are also free. Moreover, you will not incur any inactivity fee should your account remain dormant. However, it is essential to stay active if you want to quickly become an independent and successful investor.
4. AvaTrade – Best AI Stock Trading Software for Mobile Traders
After a thorough market analysis, we conclude that AvaTrade is the best AI stock trading software for Indian traders seeking mobile trading. This is primarily because we noticed that its AvaTradeGO app is highly rated by users on Google Play, the App Store, and Trustpilot. Most mobile traders find the app user-friendly and easily navigable, thus offering an exciting experience. Plus, it is highly encrypted and secured by two-factor authentication, a strong passcode, and a face ID.
We discovered over 600 shares at AvaTrade, which users get to trade as CFDs. AI trading is offered via the social trading feature, where you get to interact with other global traders and mirror potential profitable positions. Automated social trading makes it easier for beginners to explore the financial market. Expert traders will also save time since you do not need to stick to their trading station the whole day. MT4 is another platform where you will enjoy AI trading through Expert Advisor bots. You can start trading shares with as low as $100. We also found this broker the best AI stock trading software for beginners in India. It lists quality learning materials and a virtually funded demo account with which to get started.
AvaTrade
✔Low minimum deposit requirement
✔Features automated trading on its copy trading platform
Pros & Cons
Fees
Trading Assets
Pros
- Simple interface, perfect for beginners
- Users can request extensions on demo accounts
- Hosts outstanding platforms like MT4, AvaSocial, and MT5
- Rich educational materials
- Low minimum deposit requirement
Cons
- Limited financial instruments compared to its peers
- High inactivity fees for dormant live accounts
AvaTrade charges low fees for trading and non-trading services. When we started with the broker, we found the first deposit requirement of $100 or its equivalent to be low. Plus, all deposits and withdrawals at AvaTrade are free.
Commissions and spreads at AvaTrade are also low in our opinion. For instance, trading forex attracts low fees from 0.9 pips on major currency pairs. We also tried trading stocks and incurred low charges from 0.2 pips.
On the downside, AvaTrade charges a high inactivity fee of $50/£50/€50. This depends on your account currency. The fee applies should your account remain inactive for over three months. Plus, there is an annual administration fee of $100/€100/£100 after 12 months of inactivity. Other fee to expect with this broker is overnight charges for positions left overnight. Its margin rates are also low, from 3.33%, depending on your jurisdiction.
It is important to note that while AvaTrade offers social trading, accessing this feature via the DupliTrade and ZuluTrade platforms can be costly for low-budget traders. You are required to deposit at least $2,000 for DupliTrade and $200 for ZuluTrade platforms.
5. FxPro – Best AI Stock Trading Software for Experienced Traders
Professional traders will definitely enjoy their experience with FxPro. Comparing FxPro to its peers, we like the fact that it is user-friendly, customisable and has a fast trade execution speed. Moreover, this broker has a low minimum deposit requirement of $100 with free transactions. We explored thousands of global shares across UK, US, and EU markets at low spreads. Plus, FxPro lists an additional 2100+ CFD instruments, including forex, futures, indices, metals, and energy, for portfolio diversification.
AI stock trading is supported on the MT4, MT5, and cTrader platforms. These platforms offer advanced algorithms and technical indicator coding solutions that allow users to create custom trading strategies. You can also apply your own EAs using the MQL4 coding language. Overall, stock AI trading at FxPro simplifies your activities. You can test the feature via its $10,000 virtually funded demo account and decide whether it’s worth exploring.
FxPro
✔24/7 multilingual support is available
✔No deposit or withdrawal fees
Pros & Cons
Fees
Trading Assets
Pros
- AI stock trading is offered on the MT4, MT5, and cTrader platforms
- Demo accounts last for a whopping 180 days
- A user-friendly and modern design trading platform
- Free deposits and withdrawals for live traders
Cons
- Limited product range compared to its peers
- $10 monthly inactivity fee for dormant live accounts
After signing up with FxPro, we discovered several key aspects. First, we had to adhere to FxPro minimum deposit requirements. Presently, this broker recommends that you fund your account with at least $1,000, but you can deposit as little as $100. And don’t worry about any charges. Deposits and withdrawals are free on this trading platform.
That aside, if you choose the cTrader platform and trade FX pairs of spot metals, expect to pay a commission, but it’s reasonable. This broker charges $35 for every $1 million traded. Additionally, if you keep a position open overnight, you will incur swap/rollover charges. FxPro will charge your account automatically at 21:59 (UK time).
FxPro has a cost calculation tool you can use to determine every available instrument’s quarterly charges. You should check it out.
AI-based Stock Trading in India
Stock trading in India exposes you to numerous opportunities, especially if you trade using a broker with access to global stock exchanges. In India, the activity is legal, and any individual above 18 years old can create an account with a brokerage firm and start trading. With brokers like the ones referenced above, you not only have access to local shares listed on the National Stock Exchange of India (NSE) but also global options. Our recommended brokers have access to the NYSE, LSE, NASDAQ, and more.
When it comes to AI stock trading in India, many traders are embracing this feature. Simply put, AI trading tools use computers and machine learning to analyse the financial space on traders’ behalf and open potentially profitable positions. You can also use it to manage your portfolio and apply risk management controls in your trades. AI tools mirror human intelligence and problem-solving capabilities, thus allowing traders to focus on other activities.
AI stock trading tools come in various forms, allowing every Indian trader to select what best suits their trading requirements. However, like human intelligence, AI tools do not guarantee profits. You still need to track its performance and ensure everything works out in your favour.
How to Choose the Right Indian AI Stock Trading Software
Whether you are new or have been trading the stock market for years, having the best AI tools for stock trading is crucial. But how do you choose the best among hundreds of options out there? Here are key factors to consider to ensure you identify an optimal AI-based stock trading India software:
Regulation and Security
Supported Instruments
Fees and Costs
Platform Performance
Customer Support
User Testimonials
A stock trading software in India like the ones we recommend above should employ robust security measures. These include encouraging users to apply two-factor authentication and passwords to their accounts. Moreover, the best software in India should be licensed and regulated by the Securities and Exchange Board of India (SEBI) or the Reserve Bank of India (RBI). This ensures your funds and personal data are secured from unauthorised access. You are also guaranteed a conducive trading environment.
Some AI trading software are only limited to specific assets. Therefore, choose an option that will not only streamline your stock trading activities but also other options. With the best tool, it will be easier to try different markets like forex, indices, commodities, cryptos and more. As a result, you can efficiently diversify your portfolio.
Only settle for a stock trading software you can afford. There is nothing like free tools for trading, as all providers are out there to earn profits. The only way you can enjoy free AI trading services is via a broker’s demo account. Therefore, compare various software by considering both trading and non-trading fees. These include minimum deposit requirements, commissions/spreads, inactivity fees, and more.
Ensure the AI stock trading app is user-friendly with fast trade execution speed so you never miss out on arising opportunities. Plus, confirm the technology or algorithms employed so you can choose what you are familiar with and prefer. Most importantly, a software platform should host quality trading tools for market analysis and skills development. Having a demo account is also a plus, since you can test its performance free of charge.
A software with a reliable and responsive support service team will save you a lot of stress in the long run. Try reaching out to the team and gauge their responsiveness and how they handle your questions or concerns. It doesn’t matter whether they operate 24/7 or only five days a week. Settle for the one whose availability aligns with your trading schedule.
Always analyse what other traders say regarding their experiences with a stock trading app. Sample both positive and negative comments and ratings to understand a software’s strengths and weaknesses. This way, you will decide whether to commit regardless of the cons. You can find honest reviews on Google Play, Trustpilot, and the App Store.
How To Register an Account with AI Tool for Stock Trading in India
Having the best AI stock trading software in India is not a sure-fire way to success. You need to learn the markets and strategise accordingly for maximum potential. Most importantly, understand how to set up a trading account with such tools by following the steps below.
Step 1. Visit the trading software’s official website
Step 2: Complete the account registration
Step 3: Verify your account
Step 4: Fund your account
Step 5: Start trading
The first step is to visit the official website of your chosen trading software. Understand the software’s features and terms of service to ensure you are on the same page. Most importantly, install the software’s app on your mobile device. This way, you can easily manage your activities whenever you step away from your trading station.
Find and click on the “Create an Account” “Register” or “Sign Up” button on the top menu of the software’s homepage. Using your personal details like your name, email, phone number, source of income, and more, you will set up a trading account. Do not forget to create a unique username and strong password for an added layer of safety to your account.
It is a standard protocol for all SEBI-regulated brokers to verify their clients’ personal details before fully activating their trading accounts. Therefore, your broker will request you to share copies of your government-issued ID or driver’s licence and recent utility bill or bank statement. The goal is to verify your identity and location, which is one way of securing the online trading environment from imposters and money laundering activities.
Once verification is complete, your broker will send an email notification. Then, make a deposit per the required minimum amount. Consider the available deposit methods and settle for the most convenient option, whether credit/debit cards, e-wallets, or bank transfers. Also, check transaction charges to budget accordingly.
Your software provider will confirm your deposit and automatically redirect you to its listed share. Choose those you have conducted research on and select your preferred trading method, whether making purchases or trading them as derivatives. You will then activate the AI feature to manage your positions for you.
Do not fully trust your AI trading tools, as losses can also occur. Instead, try to understand how they manage your positions and keep track of their performance to ensure things work out as expected. For newbies, start with a small capital or trade for free at the platform’s demo account. You should also apply risk management controls like stop-loss orders to mitigate massive losses.
Conclusion
India’s financial landscape is growing, and many traders and investors are venturing into it. The introduction of AI trading software, particularly in the stock market, has made it easier for Indians to explore diverse company equities with minimal effort. All you have to do is learn how AI stock trading apps work and choose the best for your trading needs. It is also crucial to understand that there is no free artificial intelligence stock trading software India, unless you are using free trials or demo accounts. So, have a budget, select a stock trading software you can afford, and remain disciplined in your chances of success.
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