5paisa vs Olymp Trade

5paisa vs Olymp Trade Comparison Table 2024
5paisa Olymp Trade
2.5
1.5

5paisa is one of India's fastest growing discount brokers, with 3.3 million registered customers. The financial services provider offers multi-asset trading opportunities spanning thousands of stocks, IPOs, commodities and currency pairs. The brand's pricing model is transparent, with flat fees per transaction including a ₹20 commission per stock trade.

Olymp Trade was established in 2014 and now boasts over 89 million traders. With a presence in over 130 countries and support in 13 languages, the brand offers a stable platform and attractive rewards for new traders. Olymp Trade also offers fixed time trades (FTT) over a diverse range of markets. The brand is licensed offshore by the VFSC.

Comment by Reviewer
"5pasia will appeal to Indian investors looking for low-cost stocks and derivatives trading on a feature-rich mobile app." "Olymp Trade remains a good choice for beginners looking for a user-friendly bespoke platform and mobile app, plus 24/7 customer support. The $10 minimum deposit makes it easy to get started, however, the range of additional day trading tools trails competitors."
Pros
  • Huge investment offering including stocks, mutual funds, IPOs, ETFs, commodities and forex
  • Free educational content with blog posts, online courses and articles suitable for all experience levels
  • Two powerful platforms with stock screeners, financial calculators and daily news streams
  • The options margin calculator allows you to work out your take home for each trade
  • Easy-to-use mobile app compatible in eight languages
  • Discount broker with ₹0 commission for mutual funds
  • 5paisa has a quick and paper-free opening process
  • Short-term strategies are catered to with scalping signals and chart timeframes from 5 seconds
  • Diverse range of day trading markets including commodities, cryptos and composite indices
  • Over 10 flexible payment methods available including bank cards and Bitcoin deposits
  • Beginner-friendly blog section with analytics, trading education and market news
  • Minimum deposit and withdrawals of only $10, ideal for newer traders
  • Fixed time trades (FTT) on popular markets with payouts up to 93%
  • 24/7 customer support via the broker's hotline, email or live chat
  • Commission discounts up to 20% for experienced investors
Cons
  • A minimum account balance of Rs 450 must be maintained in the brokerage account
  • 5paisa’s mobile trading charges are expensive, at INR 100 per call
  • Server downing issues have been reported
  • There is no live chat support
  • Weak regulatory oversight and offshore registration means traders will receive limited safeguards compared to top alternatives
  • Only one proprietary platform available, with no access to popular third-party software such as MT4 or cTrader
  • Commissions charged on all assets - up to 15% on standard trades and up to 10% on FTT
  • The best conditions are available only to those who can deposit at least $500
  • Very limited range of charting tools and indicators on the platform
  • Research and education trails most alternatives
  • Limited transparency on the website
Awards
  • Best Mobile Trading Platform - World Finance Awards 2021
  • Best Investment Broker - The Forex Awards 2021
  • Best FX Trading Platform - Forex Expo 2020
Instruments
Forex, Stocks, Futures, Options Forex, CFD, Stocks, Indices, Commodities, Crypto, ETFs, OTC, Fixed Time Trades
Demo Account
No Yes
Minimum Deposit
INR 450 $10
Trading Platforms
  • Own
  • Olymp Trade Platform
Payment Methods
Minimum Trade
$0 $1
Regulator
SEBI VFSC
Margin Trading
Yes No
STP Account
No No
ECN Account
No No
DMA Account
No No
MAM Account
No No
PAMM Account
No No
LAMM Account
No No
Demat Account
Yes No
AI / Machine Learning
No No
Robo Advisor
No No
Negative Balance Protection
No No
Market Maker
No No
P2P Trading
No No
Spot Trading
No No
Mobile Apps
iOS & Android Android & Windows
Copy Trading
No No
Social Trading
No No
Trade Signals
Yes
VPS Hosting
No No
Tournaments
No No
Demo Competitions
No No
Ethical Investing
No No
Custodial Account
No No
Guaranteed Stop Loss
No No
Inactivity Fee
$10
Islamic Account
No Yes
Account Currencies
  • INR
  • USD
Stock Exchanges
Commodities
CFD Trading
CFD trading not offered You can speculate on a small range of CFDs covering popular asset classes such as forex, indices, commodities, cryptos and ETFs. Whilst prices trail the best brokers, the CFD trading platform is a compelling solution for beginners looking for simplicity, and you can get started with just $10.
Forex Trading
5paisa supports forex trading through futures and options on four major currencies paired with the Indian rupee. There is a flat fee of ₹20 per order. Currencies can be traded through the Apple and Android-friendly mobile app. Olymp Trade offers the industry average of around 30 currency pairs. Spreads came in at 1.1 pips for EUR/USD during tests, which is not the most competitive compared to leading brands like AvaTrade (0.9 pips). That said, experienced traders can access multipliers up to x500 on major pairs.
GBPUSD Spread
N/A
EURUSD Spread
N/A 1.1
EURGBP Spread
N/A
Assets
4 30+
Currency Indices
  • USD
Cryptocurrency
Crypto trading not offered Olymp Trade offers a handful of leading cryptos like Bitcoin and Ethereum. The Basic Altcoin Index is also a great addition, offering broader exposure to the currency market for those that don't want to put all their money in one crypto.
Spread
Variable
Coins
  • BTC
  • ETH
  • LTC
  • DASH
  • AVX
  • BNB
  • BCH
  • LNK
  • DOGE
  • GLM
  • SOL
  • XTZ
  • XRP
  • ADA
  • DASH
  • EOS
  • KSM
  • MAT
  • DOT
  • XLM
  • UNI
Crypto Lending
No No
Crypto Mining
No No
Crypto Staking
No No
Auto Market Maker
No No
Binary Options
Binary options trading not offered Olymp Trade offers fixed time trades (FTT) on a diverse but modest range of markets, from OTC currencies to composite indices. FTT commissions are charged between 5%-10% and you can trade with ultra-short time frames from 5 seconds. Payouts are available up to 93% for those who can afford the $2000 'Expert' status deposit.
Payout
93%
Expiry Times
5 seconds - 23 hours
Ladder Options
No No
Boundary Options
No No
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