Investment in single app or through multiple apps?
What is your advise when it comes to investment via apps? Do you invest through the same app or distribute investments across multiple apps? For example, if I want to invest in SIPs, is it good to do so through a single app or use different apps for different SIPs? I know the overall investment amount remains the same but just wanted to know pros and cons if any. App suggestions welcome too.
baffledwaffle
Stealth
a year ago
I just use Zerodha and their MF platform Coin.
There are only two demat account issuers (depositories) in the country - NSDL and CDSL.
The frontend that consumers (aka you) touch are all depository participants (DP) referred by you as apps - eg Zerodha, Kuvera, Kotak Sec, ICICI Sec, etc.
DPs are your gateway into investments but ultimately everything resides with either NSDL / CDSL, so your question is moot.
Choose a single app that is cost optimised for your use case (investments / trading) and has the functionality that you need. All of them are very similar with very little differentiation.
More than 1 account isn't needed for a majority of people. The only ones who have more than one investment app / account split those by use case. Investments in one and trading in another.
Happy investing!
There's no point in using multiple apps if you're investing. Maybe traders have them for fee/rates reasons
I use Zerodha and their UX, ecosystem is pretty nice
ProProcrastinator
Stealth
a year ago
Thanks for the advice everyone. Helps. :)
Zerodha for stock market and MF Central for all mutual funds... Best combo...
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