A detailed review of 5 paisa

5 paisa Review

5 Paisa

5 Paisa, part of the IIFL group is an online financial services provider. It offers broking services, mutual funds, and insurance on its platform. It offers trading in equities and derivatives, it doesn’t offer commodities.

The main selling point of 5 Paisa is that they offer all financial products on their platform.

Margins

Check out the detailed margins here. Almost all the established discount brokers provide margin and brokerage calculator tools but 5 paisa does not. This is negative a because the problem of transparency that plagues traditional brokers remains.

  1.  Up to 15 Times margin for Intraday & 5 Times for Delivery(Interest charged)
  2.  Up to 2 Times for Intraday in Futures
  3.  Up to 2 Times for Intraday in option (Only on selling side)

Platforms

5 Paisa provides a platform named Trade Station for the Web and desktop. It provides a mobile application for Android.

Web Platform.

5 Paisa Trade Station is the flagship platform that it offers. To sum it up this is an extremely disappointing platform considering the fact that 5 Paisa is part of the IIFL group which has been the broking business for decades.

Describing this platform as rudimentary at best would be an overstatement. All it does is offer a set of basic functionalities with nothing in particular worth highlighting.

Charting

Charting is pretty much a non-existent feature in 5 Paisa except for a basic line chart. There are not candle charts or indicators. So if you are a trader who got interested because of 5 Paisa’s brokerage, that is the only highlight of it.

Desktop

The desktop offering of 5 paisa is similar to NEST and offers the basic functionalities. There are no particular highlights as such.  The tools seem sluggish and takes a good bit of time to startup. Discovering the functionalities can be irritating. The user experience is terribly unintuitive. If you are a regular trader and depend on using candle charts this is the only platform which offers it along with the mobile app. The charting experience in the desktop tools leaves a lot to be desired.

Mobile App

The mobile application looks decent and provides one-stop access to trading, mutual funds and insurance.

You can create 3 watch lists with 50 stocks each.  The application offers basic charting functionality with 4 indicators. The only advantage we could see is that you can access MF’s, insurance and stocks from one place. Although they say that there are no charges for their MF platform, we haven’t explored the hidden side and same goes for insurance.

Where 5 Paisa falls short

5 Paisa tries to offer a whole lot on its platforms with nothing, in particular, being a highlight. The trading platform does not offer any of the things that a regular trader would need.

Bottomline

5 Paisa is suited to the investing and saving crowd who wish to manage all their investments and personal finance obligations from a single login. We wouldn’t recommend 5 Paisa to traders or even investors for that matter because it really doesn’t offer even the basic tools that traders and investors have come to rely on.

Pros

  • A single dashboard to manage investments and insurance.
  • Low brokerage.

Cons

  • Poor trading platforms
  • Charting is extremely poor
  • The mobile app has a lot of redirect links, that end up ruining the experience.

Here is how 5 paisa stacks up against Zerodha and Upstox.

One thought on “5 paisa Review

  1. i was 5 paisa account may i know the the status of this, But unfortunately my pan card not match to bank account
    5paisa team member Mr.venkat not said in previous , that’s ok but account opening previous lot of phone calls for followup process am paid 650/- dated 27.07.2017 , today 11.08.2017 still today am get money back , lot of mails for refund money request , simple reply only this below type , i am unsatisfied in 5 paisa .com

    Dear v v s krishna D,

    Your ticket has been created with the ticket ID 257770 and subject “Request for Re-fend amount 650/-“”

    Our customer service team will review it and respond shortly.

    Regards,
    5Paisa Capital Ltd. Support Team.

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