5Paisa Mobile Trading App – Decent Trading Platform for Beginners

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5Paisa Mobile Trading App Review

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In Indian stockbroking space, 5Paisa is a well-designed mobile trading app from a popular discount stockbroker. The broker provides various investment and trading platforms based on an algorithm-based engine. Among these, 5Paisa mobile trading app is a decent trading platform with reasonable customer service.

It allows users to invest and trade in currency trading, equity, and mutual funds across NSE and BSE. 5Paisa updates its mobile app regularly with an average gap ranging between 3-4 weeks. The app comes with in-built integration with research products like MarketSmith India for swing trading and other trading provisions.


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Features of 5 Paisa Mobile Trading App

The intuitive and fully functional mobile trading app offers a host of features that traders and investors need. Below are some of its top features:

Dashboard

A dedicated space where users can view information about indices and market movements of a few stocks after logging in to the application. You get an option to move the focus of investment management around insurance and mutual funds.

5Paisa Dashboard
Charts

In the app, the user needs to enter the scrip name or a few characters to get information on specific stocks. The information available includes basic information, company background, charts, and more.

5Paisa Charts
Systematic Investment Plan (SIP)

Users have the provision to browse different mutual funds. And from within the app, you can decide to invest in a specific SIP.

Auto Investor

The feature takes in user inputs for income, demographic information, risk appetite, etc. Using this, it suggests some mutual funds that the user can invest in. Besides, users can also create a personalized investment portfolio.

5Paisa AutoInvestor
Market Movers

One-click access to the list of market gainers, losers, and movers in the last 5 years.

Watchlists

Add desired scrips to create customized watchlists as per your targets and needs. The app allows creating up to 3 watchlists with a maximum capacity of 50 scrips per list.

5Paisa Watchlists
Chart Types

With several technical indicators and chart types, the app offers access to fundamental analysis and multiple technical features for quick judgments along with heat maps.

Insurance Plan

Users can choose a particular insurance plan like life, vehicle, and health insurance. The app also offers multiple options for users to select one or they can place an order themselves within the app.

Easy To Use

5 Paisa mobile trading app is quite simple and easy to use with its clean user interface suitable for traders as well as investors.

Manage Accounts: 

You can manage both Demat and trading accounts through the app with features such as order books, online portfolio, etc.

5Paisa Accounts

Supported Devices and Platforms

The 5paisa mobile app is available for iOS and Android smartphone devices. For downloading the app, you can visit either the Google Play Store or App Store on your Android or iOS device respectively.

However, ensure that you have a reasonable configuration on your smartphone so as to get a smooth trading experience. The size of the 5 Paisa mobile app varies for both versions, which is 26MB for the android version and 167 MB for the iOS variant.

How to Place an Order Using 5 Paisa Mobile Trading App?

  • Log in to the app and swipe right to open the app menu
  • Open the watchlist or the search option, where you can select the scrip that you want to trade.
  • Search for the desired stock in the search bar at the top.
  • Tap on the desired stock name and select from buy and sell options as per your desired action.
  • On the order screen, select the quantity, order type, price, and other details.
  • By clicking the advanced button, you can select more details.
  • On submitting, you will get a screen where you can review the order before placing it.
  • After placing the order, you can track the order in the history track section of the app.
Order Placement with 5Paisa

How to Open a Demat Account with 5Paisa?

  • Visit the 5Paisa site and go to the open Demat account page.
  • You have to fill all your personal and bank details as required.
  • Next, upload your documents when asked for.
  • At last, e sign your form to submit an application.
  • You will get your login credentials delivered soon.
Account Opening with 5Paisa

Advantages of 5 Paisa Mobile Trading App

Some benefits of using the mobile application for trading include:

  • Security: The mobile app is equipped with 256-bit SSL encryption that adds an extra layer of security for user data.
  • Free Guest Login: The app provides a free guest login feature for users who want to get hands-on experience of the app’s performance and user experience before signing up with the broker.
  • Personal Demonstration: A personal demonstration allows the user to create direct communication with the broker.
  • Speed: For order execution, the speed of the mobile is decent in overall performance.
  • Customization: You can customize and personalize the mobile app as per your requirements. You can modify or define alerts, notifications, and background settings.
  • Customer Care: The user can directly access various customer care communication channels. These include phone calls and chatting so that users can get quick information for their queries.
  • Fundamental Research: Whether you are a short-term trader or a long-term investor, the app offers research-oriented provisions known as Smart Investor and Trader. These provide you with fundamental research and calls based on your subscription. The features can also help you decide when to sell or buy stocks.
  • Live Tracking: Users can subscribe to live updates from BSE, NSE, and MCX on quotes and stock prices.

Disadvantages

Though the application is recommended and decently designed, still there are a few concerns for using the app

  • Loading Time: Sometimes, the app may take time while loading charts.
  • Performance: In the past, other versions of 5 Paisa mobile apps have been known to perform at an average level. Though the broker has made improvements to the performance, still there is a need to work more on it.
  • Lacks Commodity Segment: The mobile app does not allow users to trade in the commodity segment.
  • Hangs During Intraday Trading: When the mobile app is used for a longer duration, few users report that it hangs up. This problem is mostly seen in intraday trading.
  • Charges: The broker levies a charge of Rs. 100 per trade and call even if the mobile app is not working.
  • Limited Watchlists: In the app, users can only create a limited number of watchlists.

 Final verdict

The 5paisa mobile app is well suited for beginner as well as intermediate level traders because of its decent performance and ease of use. The app usability is reasonable and its overall design helps beginners to easily understand how it works.

Despite customization, personalization, security, live tracking, and free guest login benefits, the app needs to improve its performance for expert-level traders who looks for exhaustiveness in market depth and stock market analysis. 

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