5paisa is registered with SEBI and is also a member of leading stock exchanges like NSE BSE and MCX. It is a safe, reliable, and trustworthy discount broker. It is a professionally managed company backed by IIFL group promoters. The company has grown massively in the last few years and is a technology-focused and good revenue model which ensures that the company maintains profitability with pursuing high growth. In this article, we will tell you about 5paisa online trading app so read the full article to get the detailed information and complete review about this discount broker company.

About 5Paisa Online Trading App

5paisa is among the youngest discount stockbroker who offers a refreshing new trading platform. It has a simple brokerage model and it offers brokerage of Rs 20 per order for trades in any segment like Equity Delivery, Intraday, F&O, and Currency derivatives. 5paisa customers can trade or invest using its trading app on Android and iOS phones. 5paisa online trading app is available for free of charge to all its customers and the app is fully functional and very intuitive. The app offers almost all the features an investor or trader needs. It has many key features which include trading in various segments at BSE or NSE, investment in mutual funds, managing the accounts, and trading the market with live data.

Related: Upstox Pro App Review

Key Facts about 5Paisa Online Trading

5paisa online trading app is a one-stop shop for a range of financial investment products. The following are the key facts which you should consider before preferring it as a choice for investors:

·        Lowest Charges

5paisa charge flat Rs 20 per order executed and this charge becomes Rs 10 with our value add packs which is the lowest in the industry.

·        Research Ideas

5paisa is the only discount broker that provides exhaustive research and advisory on more than 4000 companies. They provide short-term and long-term calls, derivative strategies, and also portfolio-based investment ideas.

·        Margin Funding

5paisa provides its customers a facility of margin trade funding wherein a customer only pays a partial amount of the delivery bought in the cash segment and the balance is funded by 5paisa for a nominal rate of 0.06 % per day.

·        Multi-product app

5paisa is not just a trading app as it is just a one-stop-shop for all products including gold, peer-to-peer lending, insurances, mutual funds, and US investment.

·        Analytics Services

5paisa offers a portfolio analyzer which is a tool to analyze the performance of your portfolio on your own and improve your investment strategy.

Related: Angel Broking App Review

Features of 5Paisa Online Trading

The following are some of the key features of the 5paisa trading app:

• It offers stock trading in equity delivery, intraday, and F&O segments.
• It offers currency trading in the F&O segment.
• You can do mutual funds investment.
• You can invest using a systematic investment plan (SIP).
• It is Robo-advisory which is a fully automated investor advisory system.
• It manages the Demat account.
• It manages the trading account, online portfolio, order books, etc.
• It has real-time streaming quotes for all segments.
• It has advanced charting tools.
• It has a very simple, easy-to-use, and clean user interface which is suitable for both season investors and traders.

How to use: Ways to use 5Paisa Online trading app

5paisa online trading app is available for both Android and iPhones. This app allows 5paisa customers to trade on the go by following just a few simple steps:

• Firstly download the app from the app stores
• Then log into the app using your customer id and password
• Transfer funds from your bank account to your trading account using the ‘Pay in’ button
• Search for your desired security stocks or mutual funds
• At last, place a buy or sell order.

How to withdraw fund: Steps to withdraw fund

To withdraw funds from the 5paisa.com website, just follow the steps given below:

• Login to the website
• Click on the amount beside mutual funds in the top red navigation ribbon
• Click on the payout button
• Fill in the amount you would like to withdraw
• Submit the request

• To request a payout on the mobile app, go to the fund section and click on payout within it. The money will be credited within 24 hours of requesting a payout.

Related: Zerodha Kite App Review

How to transfer money in 5paisa online trading app?

The following are the steps to transfer funds in 5paisa online trading app:

• Log in to your bank account
• Choose NEFT or RTGS or IMPS as an option for funds transfer
• Enter your details
• Transfer funds and check 5paisa ledger and margin for confirmation

In case,  if you find difficulty using a mobile application for this bank feature, you can try using it through a bank website login.

How to buy IPO in 5paisa?

It is easy and convenient to apply for IPO with 5paisa online trading. You can use UPI as the payment option while subscribing to an IPO. The following are the simple steps to follow for applying in IPO with 5paisa:

• Firstly go to the 5paisa.com website or log in to your 5paisa mobile app
• Then visit the IPO section
• Choose the IPO to apply
• Enter your UPI ID
• Submit the bid

If you do not have your UPI ID then you have to download the BHIM UPI app and generate your UPI ID.

How to cancel the Demat account?

If you want to close your 5paisa Demat account, you need to send a signed account closure form in paper format to the address of the company. Make sure that you have squared off all your open positions and transferred held securities from the account before initiating the closure process. The Demat account cannot be closed online by email or phone call or chat as the process is offline.

The following are the steps to close the Demat account in 5paisa online trading app:

• Firstly download the 5paisa account closure request form.
• Then print it and fill it with the required details.
• At last, send the signed form to the 5paisa head office.

It may take 7 to 10 business days to close your account and if you do not get a response in 10 days follow up with the broker.

Related: Best Apps For Trading

What are the charges to transfer funds to 5paisa?

There is no charge for funds transferred through UPI and IMPS and there is no charge for funds paid to you from credit in your account. But for funds transferred through net banking Rs, 10 per transaction is levied.

Cons of 5paisa online trading app

The following are the cons or drawbacks of the 5paisa app:

• It does not offer 3 in 1 account.
• It has very high Demat debit transaction charges.
• It has higher exchange transaction charges in competition with other discount brokers.
• Call and trade are available at an additional cost of Rs100 per call in optimum plan and the customer can place any number of trades in one call for flat Rs 100 fee.
• The research and advisory services are not available in the optimum plan.
• It does not offer NRI trading services.

FAQs

1. Can I open a new account using 5paisa mobile app?

Ans. Yes, You can open a new account through 5paisa mobile app as this is a unique feature offered by 5paisa. It is integrated with eKYC and Aadhar cards. If you have Aadhaar Card, you could open a paperless account on its mobile app though the process is not easy.

2. Does 5paisa online trading app offer IPOs?

Ans. Yes, 5paisa offers an online IPO application using the UPI process. The customers of 5paisa can apply for an IPO on its website or mobile trading app. The process of an online IPO application is simple with just one online order form which is to be filled and then approving the UPI mandate. The customers can also modify or delete their IPO bids at any point in time when the IPO is open for bidding.

3. Who is the owner of the 5paisa online trading app?

Ans. 5paisa Capital Ltd is a professionally managed and publicly-traded company listed on BSE and NSE. Its ownership is organized by shares of stock that are intended to be freely traded on a stock exchange. The majority shareholders of the company are the promoters of the company including Fairfax India holdings and Mr. Nirmal Jain.

4. How do I change the 5paisa account password?

Ans. If you want to change your 5paisa account password or you forgot and like to reset your password then follow the steps mentioned below:

• Firstly visit the 5paisa website or 5paisa mobile app
• Logout if you are already login
• Go to the login screen again and click forgot password
• Enter your email id or client code
• Enter OTP
• And change the password.

Conclusions

5Paisa brand was launched in 2016 as an online discount brokerage company. This company became a publicly-traded company after it got listed on BSE and NSE in November 2017 and today this is a professionally managed company. While 5paisa is mostly a safe broker but there can be a few risks that you should know before opening an account which include margin funding, loss-making company, and not a free debt company. In last, I hope this article is sufficient enough to provide the information about 5Paisa Online Trading App Review.