Talking about the commodity, it is assets or goods that are essential for everyday life. This includes everything related to food, energy, metal, and so on. They are exchangeable and alternate. They are also categorized as movable goods that can be easily bought and sold. The only factor that does not support is the actionable claims and money. Below we best commodity trading apps in India according to their rankings.
There are two types of commodities you can trade-in; one is soft, and another one is hard commodities. Talking about soft commodities, it covers all the goods that are grown, not mined. On the other hand, the hard commodities include mined goods such as gold, coal, etc.
Types of Commodities
The commodities vary in the four main groups:
1. Metal commodities– this segment includes all the types of metal available like iron, copper, aluminum, nickel. These are the metals that are used in manufacturing and construction. Silver, platinum, and gold come under jewelry-making and also for long-term investment.
2. Energy commodities: another one on the list is the energy sources like oil and gas. These play a vital role in powering the globe. The materials in this segment are used in transportation, in our homes, factories, and so on. This also includes uranium, ethanol, coal, and electricity.
3. Agricultural commodities: Another one in the list of commodities is farm livestock. The food that is supplied and the raw material help in the other segments as well. These contribute to the other segment, which is the textile industry. Some of the same examples are sugar, cocoa, soybean, wheat, cotton, cattle, and hogs.
4. Environmental commodities: The commodity includes renewable energy securities, white Securities, and carbon emission.
What is MCX trading?
Multicommodity market MCX is the commodity marketplace where one can deal in the selling and buying commodities facilities. The MCX is a platform that is similar to NSE and BSE. The MCX broker is also the intermediate between the trader and the commodity exchange. Own can easily trade in metals, energy, and agricultural commodities. The MCX also works with the regulatory framework of the Forward Market Commission (FMC), which was merged by the Securities and Exchange Board of India (SEBI) in 2015.
Where to invest in commodities?
In the stock exchange, there are six major commodity trading exchanges in India which are mentioned below.
1. Multi Commodity Exchange – MCX
2. National Commodity and Derivatives Exchange – NCDEX
3. National Multi Commodity Exchange – NMCE
4. Indian Commodity Exchange – ICEX
5. Ace Derivatives Exchange – ACE
6. The Universal Commodity Exchange – UCX
How to invest in commodities?
The best way you will find to invest in commodities is through the contract of the future. It is a kind of agreement that covers the sale and buying of the commodity at the set price for a later time. You set the profit and buy and sell on the time when you receive the profit. Select the best commodity broker in india to invest in commodity.
The futures contract is available in every commodity category. Usually, these contracts are used to prevent the risk that comes along with the price swinging of the future and the indirect trade of the goods and raw materials. The market holds volatility, which comes with a higher risk for the beginners who are investing.
Things to look over before choosing an application for trading in commodity.
Here is the list of the top 10 best commodity trading application
|Angel Broking App
|IIFL Markets App
|Zerodha KITE App
|MO Trader App
|Upstox PRO App
|ICICI Direct App
|HDFC Securities App
|Axis Direct App
Angel Broking App
The first one on the list of India’s best commodity trading apps is a popular discount Broker. It has 40 different indicators which cover both the domestic and international markets. The application is easy to use and understand to place their orders and track their positions in real-time. The user can easily check the real-time status, and it comes with the live streaming of the markets.
Edelweiss Mobile Trader
Another one on the list of the best app for commodity trading is the Edelweiss Mobile trader app. The trader can easily sync their accounts from other market watching platforms like Xtreme trader. The platform provides various charts, and one can easily change to line charts or candlesticks, whichever they are comfortable in. The fund transfer is easy, and it is one of the most useful, best apps for commodity trading in the Indian markets.
IIFL Market App
This is kind of an all-in-one application where you can square off the existing positions, look over for the market analysis tools, live TV, market watch, and other features. Also, anyone can log in via the guest sign-up. They also provide complete knowledge of futures, options, equity, commodities, and currency.
Zerodha KITE App
When you talk about trading, Zerodha clicks forest. The application is easy to understand and very efficient for commodity trading. One can easily analyze the portfolio and the data provided in real-time. They analyze the live charts using advanced tools and indicators. The brokerage is low, and one can get an ample amount of knowledge too.
MO Trader App
Another trusted and best commodity trading app in India is Motilal Oswal. They have the option to trade in all the segments like equity, derivatives, currency, and commodities.
The trading on the application is seamless, with no lags and technical issues. You can also use features like the visibility of ten positions at a time, the ability to square off in one single click, technical indicators, slice pricing, real-time margin updates.
Share khan is another best app for commodity trading. The application is great for seamless trading. The UI is excellent, and they also come with profile management services PMS. They also provide regular updates on the market.
Upstox PRO App
Upstox is another leading discount broker that charges a flat fee for the transaction. The traders can trade in the sectors such as equity and derivatives as well. The customer service is top-notch and solves all the queries of their clients via the chat option available on the app itself.
ICICI Direct App
The application is safe and secure for trading. They have the best service tools. The brokerage is a bit high for the application, but each penny will be worth the way the services are provided. Also, the features like real-time updates of all their positions, call-n-trade feature. The RM is provided who will handle any of the problems if faced any.
HDFC Securities App
If you are looking for the best app for commodity trading in India, HDFC securities are your place. The commodity traders have a wide range of choices to choose from. Traders get real-time information and the price moments through this app.
Also, one can apply for expert guidance from experienced analysts.
Axis Direct App
Last but not the least, the best app for commodity trading in India is the Axis Direct App. It comes with diverse financial broking services. They started providing their services from the platform Axis direct. One can also enjoy the 3 in 1 account services, including the three account banking, trading, and Demat accounts. You can easily trade in 34 commodities that including the agricultural commodity metal and bullion.
All the data is streamed without lags, which makes it seamless to use. Also, through the application, you can invest in US stocks. It helps in diversifying your portfolio. The customer relation executives are quite an on point and help solve any problems and queries if faced.
These are the best apps for commodity trading in India. The applications mentioned have been chosen according to the services they provide and the customer care facilities.
Commodity training is one of the trickiest markets, which is volatile. Especially in the beginning, the investor has to be more particular and learn and market sense the market first. For this, the trader should go for the easy platform that will help them with the freedom of all the hassles.
The above-listed app also gives the information regarding the same, and also some of them also provide the live trades. The user must choose the application according to their need and what they are looking for. Some applications are good in one field, and others have another specialty.
The users can try different platforms and then find the one that suits all their needs.