5 Paisa Trader Terminal Review
5paisa.com is basically a web-based discount broker that is owned and managed by none other financial giant, IIFL, one of the country’s robust financial companies. IIFL claims to have a customer base of more than 3 million which is single enough to define how fabulously they place themselves in the Indian stock broking industry. Their initiative, 5paisa.com was launched in the year 2015 and allows a trader to trade across Equity, Currency, Insurance, and Mutual Funds.
It is not only the cheaper brokerage that gives 5Paisa a competitive edge, but it is also its strong inclination towards technology adoption that makes it a frontrunner in the domain. 5Paisa Trader Terminal by the stock broker is a well-accepted stock broking terminal preferred by a large number of investors and traders.
The terminal-based application is meant for usage especially for expert level traders. If you are looking for an extensive range of features, better speed and best-in-class user experience, this trading application may be just your perfect pick.
The terminal-based trading platform from 5Paisa, known as 5Paisa Trader Terminal, is a pretty well performing application from the discount broker.
Besides the 5Paisa Mobile app and the web-based 5Paisa Trade Station, this downloadable software promisesbetter speed and optimal user experience for trading to its clients. This application needs to beinstalled on the user’s computer or laptop and post login, the user can begin trading on the stock market.
Due to its easy design and smoother navigation across various elements, the application offers high level of usability for traders.
Apart from this, the app gives you access to research tips, recommendations and essential calls for your intraday trades (across Equity and Derivative segments) or long-term investments depending on your preference.
Features of 5Paisa Trader Terminal
- Investors and tradersare allowed to add various watchlists with 100 scrips in each watchlist across Equity and Futures & Options segment. By includes scrip(s) to the market watch, users can preciselycheck specific stocks on their performance with details on opening/closing price, quantity offered, bid price and a lot more.
- Various types of Order types (such as Aftermarket orders, cover orders) are available within 5Paisa Trader Terminal for users to place.
- Once you choose a particular scrip, you can check out the top 5 bids available for that specific stock with the number of stocks offered along with the asking price.
- Option to buy specific mutual funds within the same trading application enables users to invest across other diverse segments besides from the ones readily available on the stock market.
- Option to transfer funds to their trading accounts or request for payments into their bank accounts using 5Paisa Trader Terminal application itself. This can be done by making few clicks making the overall process pretty smooth.
- Apart from this, there is an option to do technical check by finding out intraday charts for last 30 days.
- In case of fundamental analysis, charting can be regulated for over 5 years in the past to look at historical charting.
Other benefits of 5Paisa Trader Terminal
- The application enables users to customize some of the features through shortcut keys, hence, making the overall processing even smarter.
- The application is not heavy in weight by any means and therefore, can be feasibly used in laptops or computers with elementary configuration.
- 5Paisa Trader Terminal is popular for high performance and works effortlessly even at basic internet connection bandwidth.
- Research tips and reports available for users to make rapid decisions to buy/sell. This is a great feature coming from 5paisa just because it is a discount broker and such brokers do not give any tips or research to their clients. However, the broker is an exception to the industry settlement and provides daily tips to its clients through its trading platforms including Trader Terminal.
- 5Paisa Trader Terminal performs pretty well in offering large number of features and is compared to other related applications such as NEST Trader in that specific area.
Issues with 5Paisa Trader Terminal
Though the terminal application performs pretty well, you may come across some issues like:
- Some high-level features are still missing at present. At the same time, it’s comparatively a new application and by time, it can be safely expected, new features will be included.
- Integration with third-party softwares not permitted.