Introduction
No investment portfolio can be complete without investing in mutual funds. A mutual fund pools money from investors and then invests it in different financial instruments. These financial instruments can be equity, bonds, or debt mutual funds. Investment in mutual funds aims to generate returns for its investors at low risk with diversification in multiple securities.
Also, investing in mutual funds has become quick, easy, and smooth. You can even trade online. Now, multiple trading apps are available in the market. If you are looking for the best online trading app, consider the one that offers speed, ease of use, seamless navigation, trading alerts, customised notifications, and market data and is affordable.
Benefits of Online Trading Apps
The following are the benefits of investing in mutual funds through online trading apps :
- Convenience
- Economical
- No middleman
- More control
- All transactions in one place
- Trading anytime from everywhere
Top Online Trading App in 2022
There are multiple mutual funds in the market. So, how to choose the best one for yourself? For that, you need to first understand your risk capacity and investment objective. After that, you need to analyse certain factors like returns, expense ratio, and returns history of mutual funds. You can even research the best mutual funds to invest in your online trading apps.
Let’s look at one of the top online trading apps of 2022, the Kuvera App.
About Kuvera
All of us have some financial goals to achieve. It can be anything from buying a house, children’s higher education, buying a car or simply travelling. Kuvera is a goal-based investing app focused on making your dreams a reality. It is your friendly investment advisor, which will help you select the right funds to meet your goals and optimise tax on the same. The best part is that all its operations are transparent. Let’s discuss some of its features, making it one of the best apps in the market right now.
What Makes it Better?
● TradeSmart
When we invest, switching between plans or redeeming the investment is quite common to gain the best returns. However, switching entails capital gains tax. But, with TradeSmart, you can assess how much amount you can switch or redeem safely without incurring major taxes. How does it do that? It will show you the exit load, short term, and long term capital gains on your proposed transactions. Thus, you can plan better and save on taxes.
● Multiple Savings
With Kuvera, you save on the following costs :
- You save on taxes by investing in the best tax saving mutual funds or the ELSS funds that are eligible for deductions under Section 80C.
- There are no brokerage or investment fees on the Kuvera trading platform.
- Since the app invests only in direct plans of mutual funds, you save on any commission fees.
● A Family Account
You can manage multiple trading accounts of your family or relative members with one account. You don’t have to open multiple accounts.
● Automated Tracking
The app allows automatic tracking of your external transaction by activating the auto-forwarding of consolidated email statements to the Kuvera server. Thus, you don’t need to upload any statements. All this is done with the highest level of security to ensure privacy protection.
● Easy Remittance
If you stay away from your home, you need an app that offers easy remittance facilities. Kuvera offers quick money transfers at the cheapest and most affordable cost.
● Tax Harvesting
Did you know you can avail more benefits out of your tax exemptions? As per the new tax rules, 10% LTCG is applicable on mutual funds returns. However, the first Rs. 1 lakh of LTCG is exempt from taxes. With the Tax Harvesting feature, you can realise gains on this exemption. The Kuvera professional managers help you monitor your portfolio and recommend the best time to engage in tax harvesting.
● Account Manager
In the family account, one person manages all the family investments. Thus, if you are part of the family account, you need access from that person. However, with this feature, you maintain your independence. In this, you add a person to manage your certain account, and you can also restrict the authority and access they have. The Account manager won’t have full access to your account details. They won’t be able to see your bank and nominee details. Also, to execute any trade, they will need your authorisation via OTP. However, remember, that the Account manager needs to be a valid Kuvera user.
In a Nutshell
With Kuvera App, you can explore multiple funds in the market. In addition, with their top experts and technical team, you can earn the best inflation-beating returns.
Be it Apple or Android, this app is available on all mobile devices. Also, their signup requires only 2 minutes of your time. In case of any doubts, they have a support system via chat, email and tweet for their investors.