5paisa Review 2021
|Traders in United States welcome|
|5paisa Facts & Figures|
5paisa is a discount Indian brokerage with equities and derivatives trading on thousands of products.
|Instruments||Forex, Stocks, Futures, Options|
|Min. Deposit||INR 450|
|Payment Methods||Wire Transfer|
|Mobile Apps||iOS & Android|
5paisa supports forex trading through futures and options on four major currencies paired with the Indian rupee.
5paisa is an Indian discount broker that supports trading in a range of financial instruments, from delivery and intraday stocks to currency futures and commodity options. The broker offers a decent trading platform, well-reviewed mobile application and competitive leverage rates. Read on to discover the advantages and disadvantages of trading with 5paisa.
5paisa’s platform is available on any web browser, making it accessible from any device type. 5paisa’s trading website allows you to execute trades on all assets offered by the broker, as well as draw together your positions, view your portfolio and keep updated with the latest trading news.
For more frequent traders, 5paisa offers its Trade Station platform,which is an downloadable client with charting and advanced trading analysis tools. The advanced application offers features for comparing stock prices and maximising profit potential.
5paisa offers a handful of markets, including stocks, currency, futures, options, mutual funds and insurance products. The range of equities and derivatives is competitive, though some traders looking for more diverse portfolio options may be better served by brokers with cryptocurrencies and commodity CFDs.
5paisa users can access ‘Smart Investor’ for INR 4,99. This platform is perfect for the trader that wants consistent advice and trusted tips. The model portfolio, idea list, market outlook and stock evaluation features all combine to create a platform for clients to stay updated on new trends and stocks to watch, as well as a good place to evaluate all the key information available. The algorithms suggest the best stocks for you to trade based on fundamentals and performance patterns.
5paisa users can also use ‘Smallcase’, which highlights a stock portfolio that has large earning potential and is estimated to perform well in current market conditions. This comprehensive feature helps to minimise risk as users invest in a portfolio rather than a singular stock. The Smallcase platform is user friendly, allowing you to buy, sell and alter trades at any time.
Swing Trader Tool
This tool can be accessed through 5paisa and is great for traders with short term goals. The swing trader site provides trading tips alongside critical analysis to help make profits.
5paisa’s mobile app is one of few mobile trading platforms available from Indian brokers. With reviews averaging over four stars, the app seems to be easy to navigate but mostly useful for small traders who like to make quick trades on the go. The mobile app uses advisory features to provide a great user experience but has a lack of customisation and analysis tools.
Account Types & Fees
5paisa has flat rate charges per order that differ between account types. The more you pay for your account type, the less you pay per order. It is important to note that your 5paisa account must have at least INR 450 in it at any time.
- Optimum – No monthly plan charges and INR 20 per order.
- Platinum – INR 499 per month and INR 10 per order.
- Titanium – INR 999 per month and INR 10 per order (no charges on stock orders).
Leverage trading allows you to take larger positions for the possibility to magnify your profits, or your losses. Below is a list of the leverage rates 5paisa offers:
- Currency Futures – 1:1
- Equity Intraday Trading –Up to 1:4
- F&O Exposure Intraday – Up to 1:5
- Option Writing Exposure –Up to 1:4 on normal days and 1:6 on expiry days
- Whilst other Indian brokers suffer with long and slow account registration processes, 5paisa has a quick and paper-free opening process, which means opening an account requires little forward planning.
- 5paisa also has great customer care, which is on hand throughout your trading days.
- The cheap, fixed brokerage charges demonstrate transparency and you don’t need to worry about large commissions.
- The broker’s trading platform is user friendly and accessible for all levels of traders.
- 5paisa’s options margin calculator is an effective feature allowing you to easily work out your take home for each trade and track your trade revenue carefully.
- 5paisa’s mobile trading charges are expensive, at INR 100 per call.
- Some server downing issues have been reported at times of website traffic.
As 5paisa is an Indian broker, its opening hours are in IST (GMT + 05:30).
- Pre-Opening Session: 09:00 – 09:15 IST (04:30 – 04:45 GMT)
- Trading Session: 09:15 – 15:30 IST (04:45 – 11:00 GMT)
- Closing Session: 15:40 – 16:00 IST (11:10 – 11:30 GMT)
5paisa’s contact details are:
- Email Address: firstname.lastname@example.org
- Telephone: +91 89766 89766
5paisa is a competitive Indian stockbroker with a range of equities and derivatives, a sleek mobile app and a good selection of account payment plans. The discount broker is an accessible option for newer traders with less capital, experience and time on their hands, though investors with more capital may prefer the more advanced features and improved asset ranges of larger brokers.
How Can I Reach 5paisa’s Customer Support?
You can email the support team at email@example.com or you can use the brokerage’s contact number +91 89766 89766.
How Do I Login To 5paisa?
You can login to your 5paisa account on the broker’s website or through its mobile application.
Is 5paisa A Discount Broker?
Yes. 5paisa is an Indian discount broker that charges a flat fee of INR 20 per trade, or zero on stock deliveries for the titanium plan (INR 999 per month).
How Do I Use 5paisa To Trade?
To get started with 5paisa you must first set up an account. If you already have a Demat account, you can just open a trading account, otherwise you can use the broker’s ‘all-in-one’ account. Once registered, simply log in and get trading.
What Are 5paisa’s Fees?
5paisa clients are subjected to commission charges on every order, which can be reduced by signing up to (and paying for) improved monthly plans. Without upgrading, the commissions are INR 20 per order. For INR 499 a month, charges are dropped to INR 10 per order. For another INR 500 (999 total), stock delivery charges are wiped out completely, though other assets are still charged.
5paisa accepts traders from Australia, Thailand, Canada, United States, United Kingdom, South Africa, Singapore, Hong Kong, India, France, Germany, Norway, Sweden, Italy, Denmark, United Arab Emirates, Saudi Arabia, Kuwait, Luxembourg, Qatar and most other countries.
Alternatives to 5paisa
If you are looking for alternatives to 5paisa we have compiled a list of the top 5 brokers that are similar to 5paisa below. This list of brokers like 5paisa is in order of similarity and only includes companies that accept traders from your location.
- Forex.com – Forex.com boast a global reputation. Regulated in the UK, EU, US and Canada they offer a huge range of markets, not just forex, and offer very tight spreads and a cutting edge platform.
- LQDFX – LQDFX offers online trading with multiple STP accounts and MT4 analysis tools.
- eToro – eToro is a multi-asset platform which offers both investing in stocks and cryptoassets, as well as trading CFDs.
- Paxful – Paxful is a crypto trading exchange and digital wallet offering low fees and easy sign-up.
- NinjaTrader – NinjaTrader offer Traders Futures and Forex trading. Use Auto-trade algorithmic strategies and configure your own trading platform, and trade at the lowest costs.
|5paisa is a discount Indian brokerage with equities and derivatives trading on thousands of products.|
5paisa vs Other Brokers
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