Which app is better for ETF sip and dashboard

[Varuns]

I want to test out few investing strategies on ETFs and stuck with few questions.
- should I go for a SIP in ETFs?
- If yes what frequency to have with market orders daily / weekly / monthly?
- Does daily SIP in ETF would cost me more because of more buying order? If yes than how/what it is.
- Which app is better Dhan, Kite or IND money for ETF sip?
- which app has better dashboard to compare different strategies?
- which app is better with charges and what all charges do I need to bear?

 

[TaxWiser]

I want to test out few investing strategies on ETFs and stuck with few questions.
- should I go for a SIP in ETFs?
- If yes what frequency to have with market orders daily / weekly / monthly?
- Does daily SIP in ETF would cost me more because of more buying order? If yes than how/what it is.
- Which app is better Dhan, Kite or IND money for ETF sip?
- which app has better dashboard to compare different strategies?
- which app is better with charges and what all charges do I need to bear?

Hey there!

Testing out different investing strategies with ETFs sounds like a great plan. Let's dive into your questions:

Should I go for a SIP in ETFs?

Yes, SIPs (Systematic Investment Plans) in ETFs can be a smart way to invest. They help you average out the cost of buying units over time, reducing the impact of market volatility.​

What frequency to have with market orders: daily, weekly, or monthly?

• Monthly SIPs are generally the most common and practical. They provide a good balance between convenience and cost-effectiveness.
• Weekly SIPs can also be effective but might require more management.
• Daily SIPs are less common and can be cumbersome to manage. They don't significantly improve returns compared to monthly SIPs.

Does daily SIP in ETF cost more because of more buying orders?

Yes, daily SIPs can cost more due to higher transaction fees. Each buy order might incur brokerage fees, and frequent transactions can add up. Monthly SIPs are usually more cost-effective.​

Which app is better: Dhan, Kite, or INDmoney for ETF SIP?

• Dhan: Offers zero brokerage on ETF investments and allows daily, weekly, and monthly SIPs. It has a dedicated ETF dashboard for tracking returns.
• Kite (Zerodha): Provides a robust platform with features for setting up SIPs in ETFs. It’s known for its user-friendly interface and comprehensive tools.
• INDmoney: Known for its financial planning tools and investment tracking. It offers SIPs in ETFs but might not be as specialized as Dhan or Kite for ETF-specific features.

Which app has a better dashboard to compare different strategies?

• Dhan: Has a dedicated ETF dashboard that allows you to track and compare different ETFs easily.
• Kite: Offers detailed analytics and a user-friendly interface for tracking investments.
• INDmoney: Provides a comprehensive financial dashboard that includes various investment tracking features.

Which app is better with charges and what all charges do I need to bear?

• Dhan: Zero brokerage on ETF investments.
• Kite: Charges a nominal fee per transaction, but it’s generally low.
• INDmoney: Charges might vary, so it’s best to check their latest fee structure.

Summary

- Best for Low Charges: Dhan​

- Best for User Interface and Tools: Kite​

- Best for Comprehensive Financial Tracking: INDmoney​

Make informed decisions based on your own financial understanding, rather than blindly following others.
Best of luck with your investments!

(Source: Conversation with Gemini AI)