Investing in the stock market is a risky endeavour. However, despite the risks involved, many are still drawn to put their capital in stocks. It is because investing in the stock market may lead to profit over time when done right. Some stocks also offer dividends, which allow investors to gain passive income even when they are not actively participating in the daily ins and outs of the stock market.
These and many other reasons have compelled many Indians to invest in the stock market. The surge in the number of new active investors is also made possible by modern apps. They allow the people of India to invest regardless of their location. One of these is the 5Paisa app. How to download and start using the 5Paisa mobile app, you will learn from the review.
What is the 5Paisa app?
5Paisa is an online discount broking company that allows investors the ability to trade in stocks, commodities, mutual funds, currencies, insurance, and even gold. It is growing rapidly and already has over five hundred thousand clients and over three million app users.
It offers investors the ability to engage in trading using just their smartphones. iPhone and Android users only have to download the 5Paisa mobile app to start trading and engage in other investment activities. The 5Paisa trading app is also available for desktop users, making it easier for Indian investors to engage in trading activities regardless of what devices they are using.
Benefits of the 5Paisa app
The 5Paisa is a cutting-edge application made with customers in mind. It has rich features that distinguish it from other trading applications on the market. The most notable features of thе 5 Paisa app are as follows:
- intuitive interface that allows even novice users to use the app without any problem;
- live market quotes, which allow users to see the exact prices and volumes of stocks or security instantly;
- advance charting that enables investors to perform in-depth market analysis, thereby helping them make sound decisions on which stocks to put their capital in;
- access to timely ideas that help customers to decide on whether they should engage in intraday, short term, or long-term stocks trading;
- access to FinSchool, a feature in the 5Paisa app that allows clients to learn how to trade in various stocks and derivatives on their own time and pace through step-by-step courses;
- free account opening using a mobile phone number;
- flat payment per order;
- seamlessly integrated investment on 5Paisa mobile app and desktop.
The 5paisa.com application also contains the right tools for options trading, allowing investors to choose freely the right type of investment that may fit them. It even gives them free suggestions on which stocks are performing well or which ones should be let go. It provides them access to various stock trading ideas as recommended by experts.
Cons of the 5Paisa app
Like many other applications, the 5Paisa trading platform is not perfect. Investors can expect lapses in the application, too, whether they are using the 5Paisa mobile trading app or the desktop app. Here are some of the disadvantages of the app:
- investors cannot have a 3-in-1 account;
- too high Demat transaction rates;
- cost of Call and Trade is expensive. Investors have to pay an additional Rs100 if they want to make a Call and Trade transaction;
- NRI trading services are not offered;
- not all packs offer research and advisory services.
Also, 5Paisa does not charge brokerage for Equity delivery trading. However, equity intraday trading will be charged the flat brokerage of Rs20 per order. A flat fee of Rs20 per order is levied for futures and options trading.
Where to download the 5Paisa app
5Paisa download is free of charge for both desktop and mobile devices. It can be downloaded from App Store and Google Play. To download, follow these steps:
- Go to www.5paisa.com and select the app store.
- Click on the link to install the app on Android or iOS.
You can also go straight to the app store on your smartphone, type for 5Paisa in the search bar, and download the app.
Once the download is completed, create an account. You will be notified of your application status and given login details, such as your ID and password. The app may prompt you to choose a type of subscription plan when creating an account.
Currently, there are three types of subscription plans offered by 5Paisa. You may choose from the following:
- Basic Pack Plan.
- Power Investor Pack Plan.
- Ultra Trade Pack Plan.
If you are undecided on which plan is best for you, you can start with the Basic Pack Plan. It may have specific limitations compared to the other two options, but it will be enough to get you started in stock investing. Once you have tested the waters and want to enjoy additional benefits, you can then choose to upgrade to either the Power Investor or the Ultra Trade Pack Plan.
Note! When opening a Demat account for 5Paisa, you can select the “Get Whatsapp updates” function to keep abreast of all events and changes in the market.
Overall review of the 5Paisa app
The 5Paisa app is relatively easy to use. After logging in, you can start investing in your 5Paisa account. Funds are required to enable you to buy or trade stocks, options, and other assets.
Within the app’s interface, you can also perform other activities, such as placing a buy or sell order, immersing in stock trading courses, searching for mutual funds and blue-chip securities or stocks, analyzing charts, and more. Overall, the 5paisa.com app is a powerful trading application for beginners and advanced users.
If you are new and want to learn a little about investing in stocks before making any transactions on the 5Paisa app, you can join the investor forum through the WhatsApp group (links can be found online). Within these groups, you may learn a thing or two about intraday trading and other forms of trading. You may also want to watch a demo of how the 5Paisa application works and what you can do to make the most of it.