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.
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
Zerodha for stock market and MF Central for all mutual funds... Best combo...
Thanks for the advice everyone. Helps. :)
Context : I have been saving up money for over a year now and not actively invested it anywhere due to x reasons.
Now I want to start SIPs as I have achieved my emergency fund and want to reap the benefits of the power of compounding.
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If we are a beginner is it good to invest ourselves through any Investing apps like Grow/ETMoney etc.. or should we consult any financial advisor or firm to start our investing journey. Please suggest.
I want to start investing 2000 monthly in a SIP, what would be your suggestion?
Where I can invest ? And which app is best?
Any recommendations on what to use for monitoring all spends n investments across my accounts? Do you folks use separate apps for spends n investments or do u do thru one app? Currently track investments thru excel sheets by getting data...
Need your suggestions advices in which app is better for long term sips. My concern is the app should be easy to understand has less hidden charges and can be looked after for 10 years atleast.
Kuvera