Everything you should know about online trading Tools and platforms

5paisa Research Team Date: 13 Jul, 2023 01:01 PM IST


Want to start your Investment Journey?



Trading Platform

Trading platforms are software programs made specifically for the purpose of trading. Most brokerages provide their customers with online trading platforms wherein you can trade, open, close or manage positions in the market. These platforms span the entire cycle of investments from basic order entry screens for new investors to complex and sophisticated toolkits for advanced ones. Online trading platforms provide you high convenience and flexibility and make the trading procedure smooth, convenient, quick and cost effective.

In sync with evolving customer needs and preferences, these platforms too have grown over the years and you can now choose from an array of platforms, the one(s) that best suits your needs. 

With 5paisa’s trading accounts, you also get a bouquet of services such as real-time quotes, charting software, news feeds, research and analysis on stocks and other investment assets, among others.

Trading platforms offered by 5paisa


5paisa Trading App

Trade from anywhere at your fingertips

Trade Station 2.0

Feature-rich desktop based platform for faster trade execution

Trade Station Web

Browser based trading platform with user friendly UI designed for active traders

5paisa School App

A complete online learning center where you can learn everything about stock markets

Developer APIs

Set of flexible JSON based REST API compatible with multiple languages

  • Free of cost APIs
  • Simple, offering high utility
  • High performing and scalable

Algo Trading

Automate your trading strategies – sit back and watch your trades run effortlessly


Broadly speaking, trading platforms can be of two types – commercial websites and prop platforms. Commercial websites cater to day traders and retail investors. Prop platforms are customized for users as per their specific demands and trading approach.

If you are just stepping into the world of trading and investing, read our market guide to gain in-depth understanding of the basics of trading. You can also go to 5paisa FinSchool to complete basic and advanced courses about the world of investing.

Key trading platforms

•    Website

The website of the brokerage or service provider opens the door to the world of investing for you. From accessing your online trading account, to availing a diverse range of services, everything is available on this single location. 

•    Smartphones/Apps

You can also access and operate your trading account via your smartphones, tablets and other devices. Besides, you can download the trading app provided by your broker to track your investments and implement trades.

•    Dealer-Assisted Trading

This is a more personalized trading experience wherein seasoned and qualified traders assist you in your trading activities. They help you make well-informed and smart investment decisions. These platforms typically work on the phone wherein users call the dealers to execute their trades.

•    Call and Trade

If you don’t have access to your computers or are not too tech savvy, you can place your orders by calling your broker. You can place as many orders you want across segments (cash, derivatives, IPOs, etc.) Several checks and verifications have been put in place to ensure the safety and confidentiality of your trades.

Key trading tools

•    Stock Watch list

Create your own list of stocks to track closely on a daily basis. Such watch lists can be tailored to your needs, and edited from time to time in sync with your trading activities. Get all the information you need on stocks in your watch list including latest news, growth, % change, profit or loss, volume, price movement, charts, etc. to make quick, smart decisions.

•    Research Reports

Reputed brokerages provide high quality research reports and analysis on a wide variety of stocks. This research is conducted by seasoned professionals and investment experts. These reports are a treasure trove and provide insights into market statistics, fundamental analysis as well as technical analysis – empowering your decision making.  

•    SMS Alerts

Get all information on latest market developments and trends at your fingertips through SMS alerts. You can also set alerts and receive reminders through emails and SMS about your investments.

How can you identify the best online trading platforms?

You have to consider several aspects to identify the best online trading platforms. Needless to say, the ones that best suit your needs and provide you with highest convenience and efficiency are the best suited online trading platforms for you.

Some of the key factors to consider are:

•    Fees payable

Though everyone is looking for lower fees, traders who undertake high number of transactions on a daily basis might find it handier. Likewise, traders implementing scalping strategy will benefit from trading platforms with low fees. Long-term investors though may be willing to pay slightly higher fees in lieu of benefits such as high-end research and customized features.


•    Features of the online trading platform

Each segment of day traders, short-term traders and investors have specific requirements and hence some features appeal more to one segment than the others. So while in depth charts will be of use to day traders and short-term traders, options strategies might come in handy for options traders. If you are a long-term investor, in-depth research and analysis might be useful for you.


•    Reputation of the broker

It is advisable to engage with brokers having proven track record of creating value for their customers and those who place high emphasis on ethical transactions across every stage. Also, some trading platforms may be only available with select brokers. Identifying an appropriate broker is extremely important to derive a seamless trading/investing experience and to maximize the potential of your trades.


•    Technological capabilities

In today’s digital age, technological capabilities go a long way in helping traders and investors achieve full potential of their transactions. Brokerages offering cutting edge technology on their trading platforms will help you achieve high efficiency, speed and seamlessness in your trades. Technology is making the impossible, possible and is providing significant competitive edge to brokerages.


•    Specific requirements

Some trading platforms require traders to park a minimum amount in their accounts towards equity, while some need them to be approved for margin trading. Most of these requirements are defined by regulations and will help you safeguard against misuse of your account.


Open Free Demat Account

Be a part of 5paisa community - The first listed discount broker of India.