In this review of 5Paisa Mobile App, I provide all the details of the app, its major features, pros and cons.
This post will help you in understanding complete details of mobile app from 5Paisa and its benefits.
About 5Paisa Mobile App
5Paisa is one of the leading discount broker of India. The parent company of 5Paisa is IIFL which is one of the oldest stock broker of India.
I have written a detailed review of 5Paisa, you can check out it here. It covers the history of 5Paisa, brokerage and AMC charges, various trading platforms offered, how to open the account with 5Paisa etc.
The best thing about 5Paisa is the offer research and recommendations which normally discount brokers does not offer.
The mobile trading app from 5Paisa is being used by many traders and investors and it is loaded with lots of features.
The app provides the live updates from stock exchanges like NSE, BSE and MCX and also across the world markets. The company has come up with many videos which makes it easier to understand and operate it.
Main problem with the app which I observed is, it requires very good internet connection hence if you are operating with very low data speed, it may not work well.
5Paisa Mobile App Review – Features I Like Most
Before we check the features of the app, have a sneak peak of the app through this video.
Some of the salient features of the app is
- One click order placement: Useful for day traders. Order can be placed at very quickly with single click.
- Get live quotes from all the major stock markets of India and foreign countries
- Track portfolio for profit and loss, download statements etc
- Get buy and sell signals from the app itself generated by industry experts.
- Create multiple watchlist which are synced across multiple devices
- Set Alerts: You can set alerts for target price and also time alert
- Availability of more products like mutual funds, digital gold. personal loan and insurance under a single app
5Paisa App Review & Ratings
At the time of writing this review, the average ratings of 5Paisa mobile app is 4.3 with more than 2.4 lakhs user reviews. You can visit 5paisa Mobile app in google playstore to know the current ratings
Considering the average ratings of other apps from different stock brokers, this ratings is very impressive and suggests that users are satisfied with the performance of the app.
| 5Paisa Mobile App Review & Ratings | |
|---|---|
| Usability | 9.1/10 |
| Features | 9.1/10 |
| Speed | 8.8/10 |
| Performance | 8.8/10 |
| Overall Ratings | 8.9/10 |
| Star Ratings | ★★★★ |
How To Use 5Paisa Mobile App?
To use mobile app of 5Paisa, one need to have a demat account with them. Once the account is opened, the app can be installed freely from either playstore. In case if you are using Apple phone, you can download it from iOS play store.
5Paisa is running a promotional offer of FREE demat account. The account opening charges is waived off. Use below button avail the offer.
Use below button to avail the offer.
Advantages of 5Paisa Mobile App
There are many advantages and disadvantages of the app. Lets see one by one.
- The app has high level of securities similar to the one used by banks( 256 bit SSL encryption)
- App also provides guest login facility. Using this, one can check out major features of the app. But order can not be placed until demat account is opened.
- The app is highly customisable. Meaning the looks and other settings can be changed as per ones personal choice.
- Multiple customer care channels can be accessed through the app itself making it easy to reach the company in case of any issues.
- It has two modules namely, Smart Trader and Smart Investors. Depending on whether you are a trader or investor, get research report and recommendation as per your category.
Disadvantages of 5Paisa Mobile App
- As stated earlier, the app may not be well suited for the traders with low bandwidth
- Trading in commodity segment is not possible through this app
- Intermittent hanging of the app is reported by many customers
- App has lot of ads running, this distracts serious traders with other products like insurance and loan,
Why Choose 5Paisa Broker?
- Flat Rs20/trade irrespective of size of the trade, segment and exchange
- Free and paperless account opening in 10 minutes
- Lowest DP charges among major brokers
- App is supported with multiple languages
- Provides stock research and recommendations
- Promoted by India Infoline IIFL which is a prominent full service broker and hence the trust
5Paisa Mobile App Review – Final Thoughts
The app from 5Paisa is decent app suitable for most of the investors and traders for all basic needs on the go.
The app is provided free of cost and has very nice ratings at google playstore.
If you already have account with them and used the app, please share your feedback and ratings with fellow readers.
If you wish to open the account with 5Paisa, use below button.
5Paisa Mobile App – FAQs
Question – Is 5Paisa Mobile App Free to use?
Answer : Yes, mobile app from 5Paisa broker is completely free and customers dont have to pay any charges to use it. But there will be other charges related to account such as AMC charges and brokerage charges. But these are not levied for using mobile app
Question – Does 5Psaisa provide iOS app?
Answer : Yes, the 5Paisa app is also available for apple phones for iOS platform. One can download it from apple playstore and start using it. The login credentials are provided after the client registration is complete.
Question – Does 5Psaisa App provide tips?
Answer : Yes , 5Paisa belongs to discount broker category but still the broker provide stock tips and recommendations. The app provides all the information regarding the stock of your interest.
Question – Does 5Psaisa mobile app has EKYC Option?
Answer : Yes, the demat account in 5Paisa can be opened completely online. No need to visit any branch or send form and documents. Many brokers provide EKYC options through which account can be opened online and start any financial transactions.
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