Now Online or ‘NSE on Web’ is the trading platform of the National Stock Exchange of India (NSE) and is one of the most widely used trading platforms in the country. NOW online is known for its reliability, versatility and fast trading activity.
Since it is developed and maintained by NSE, a lot of stockbrokers license this application for the usage of their respective clients. The NSE tech team customizes the application as per the requirements of the broker and further ahead, the broker provides this application to its clients so that they can place trades.
In this detailed review, we will explore at length this trading platform and figure out whether this trading application is suitable for you or not.
Now Online Review
The best thing about this application is that it works as all three trading platform options possible i.e. Mobile trading app, a Web-based trading application and a terminal application (EXE version for desktops and laptops).
With NOW Online you can trade-in equity cash, equity derivatives, debt funds and currency derivatives. It also allows you to subscribe to mutual funds and IPOs.
It has its own built-in order management (OMS) and risk management system (RMS) and that is what makes it so fast in executing orders.
Now Online Features
Here is a list of features this trading application comes with. Depending on your trading and investment requirements, you may choose to use them. Here is the list:
As already mentioned, Now Online allows traders to trade in all three platforms – mobile, computer and terminal.
Any trading app needs to be fast to execute the orders in real-time and this app gets full marks in that criteria. Its built-in RMS and OMS make the order execution so swift.
You can trade across multiple segments and at various exchanges. You can trade in BSE exchange also through NOW online. You don’t need to move to another app for trading in other exchanges. There is a small fee for trading in BSE though.
It offers direct connectivity with the exchange server for faster order execution.
You also get fast, live data feed as the exchange server is collocated at the data center.
Available shortcut keys make trading easier for regular traders.
You get live streaming of quotes, stock analysis, various types of reports and historical data in the app.
You can set up custom stock alerts or notifications.
NOW online offers additional plug-ins which are important for some specific needs.
It shows hourly statistics based on various parameters.
‘Order book’ displays all buy and sell orders placed by the trader across all exchanges.
‘Trade book’ displays all buy and sell orders executed by traders across all exchanges.
‘Holding’ options show the trader’s real-time security holdings position.
Easy Pay-in and pay-out options from your trading account to your bank account.
‘Net positions’ show real-time positions of stocks on a particular trading day.
‘Limits’ option shows the cash limit that is available for trading.
Its mobile app version works for both Android and IOS.
It has 15 types of advanced charts and graphs along with a total of 80 indicators.
In a sense, this trading application provides a range of features for its users.
Now Online Products:
These are the different trading products that are offered in this trading application:
MIS (Margin Intraday Square off) – You can perform intra-day trading in commodity, equity cash, equity derivatives and currency derivatives.
CNC (Cash & Carry) – When you want to take delivery of equity shares CNC is used. Most brokers will not provide any leverage for this.
NRML – It is used when you trade in segments such as commodity, equity and currency derivatives.
Now online offers various types of orders to be executed. Those are listed as follows:
Limit Orders – It allows you to buy in or sell out stocks at a specific or predetermined price. A ‘buy-in’ order will be executed only when the stock price is exactly at the specified limit rate or lower than it and oppositely, a sell-out order will be executed only when the stock price is at the specified limit rate or higher than it.
Stop Loss Orders – It is designed to stop or limit loss of traders while selling out shares when the market runs downward. When you opt for SL orders, it sells out shares at trigger price, below which trader may have to face loss. Basically, it protects traders from losing money.
Market Orders – It helps you buy in or sell-out stock instantly at the current market rate. It is quite simple.
After Market Orders (AMO) – If you opt for AMO, your order will still be up for execution even after regular market hours. The order will be in the queue and will be executed when the market opens the next day.
Cover Orders (CO) – When you want to execute a limit order or market order along with SL order, it becomes CO. This is crucial for intra-day trading to protect traders from loss.
Now Online Login process:
Once you have downloaded Now online, you have to follow the below steps to log in.
The first window shows you two fields, one is for ‘Member ID’ and another is for ‘User Id’. Member ID is a 5-digit unique code provided by your broker. It is mostly numerical.
The user ID is a combination of another new code provided by the broker and the Member ID. Suppose your Member ID is 67564 and the other code is FN7889. So, your User ID will be ‘FN7889-67564’.
Once you enter the above-mentioned two fields correctly, you are logged in.
The login process of Now Online is quite simple.
Now Online Benefits:
Here are some of the positives of using this trading application:
Top in reliability, stability and speed of execution.
Built-in RMS and OMS.
100+ brokers are licensed with NOW online and so adopted by a huge number of traders in turn.
Gives access to data feed suits.
Loaded with many useful features.
Fund management made simple.
Now Online Drawbacks:
Here is the other side of the coin where you need to know the concerns related to this application:
NOW online is not fully free. It is free for brokers or it can be said that the brokers made it free for themselves and in turn, they collect the NSE fees from their registered traders.
There are scopes for improvement in User Interface. It looks little out-dated and also not that user-friendly.
Needs high level or advanced system configuration. Doesn’t go well with basic processors and operating systems.
It is reported that a few traders faced difficulty in commodity trading.
So, overall Now online is a promising trading platform and it is widely accepted for its huge potential. The drawbacks are few and can be adjusted keeping in mind the many features and advantages it has.
In case you are looking to get started with stock market trading and investments, let us help you in moving forward: