5PAISA.COM

3.5 Overall

5paisa.com is a one-stop online shop for all investment and insurance needs and certainly looks one of the promising discount stock broker, with low brokerage, decent trading platforms, provision of tips and recommendations- it offers more than value for money service to its clients.

Brokerage Charges4.5
Platforms & Tools 2.5
Customer Service 2.0
Cons
  • No support to trade commodities
  • No fixed brokerage monthly or yearly plans
  • Average Customer Support

5paisa.com Overview

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5Paisa is the part of India Infoline (IIFL), which has diversified to offer multiple financial services such as finance and credit, asset management, wealth management, financial product distribution, investment banking, stock and currency broking, IPO, mutual funds, bonds, ETF, insurance, and advisory services.5Paisa is a Mumbai-based discount broker that was started in 2016 and today manages a large customer base of more than 70,000 customers with great efficiency. The firm is listed on NSE and BSE.

5Paisa offers a discount brokerage of Rs 10 per executed order irrespective of the trade volume. It enables web, desktop, and mobile trading without any additional cost. In addition, it offers 2-in-1 account which includes trading account and demat account. However, the plus point here is that 5Paisa allows the user to link any other demat account with their trading account. So, the user need not worry about opening a separate demat account with 5Paisa.

5Paisa allows the trader to open another type of account which is Mutual Fund Investment Account which is a free account. This account gives the user access to the auto-investor tool known as Robo-Advisory Tool. This tool helps the investor to build a Mutual Funds portfolio by recommending mutual funds suitable based on the investor's income, expense, objectives, and risk-taking capability.

Zerodha is the closest competitor of 5Paisa. While Zerodha holds the number 1 position in the list of best discount brokers in India, 5Paisa stays strong on the second position.


5paisa.com Brokerage Charges

5paisa.com has surprised the broking industry by offering trading services at a flat fee of Rs. 10 per order, which is half the price of the likes of Zerodha or Upstox when it comes to brokerage at intraday levels.

Trading Segment Brokerage Charges
Equity Delivery Rs 10 per trade
Equity Intraday Rs 10 per trade
Equity Future Rs 10 per trade
Equity Options Rs 10 per trade
Currency Futures Rs 10 per trade
Currency Options Rs 10 per trade
Commodity Rs 10 per trade

A special brokerage plan created for intra-day Options traders @ Rs 2/lot

  • Need to maintain a minimum ledger balance of Rs 10 lakh.
  • 5x exposure on option contracts on non-Expiry Days
  • 10x exposure on option contracts on Expiry days
  • Valid on all Index option contracts in Equity.
  • Valid for Intraday Positions in Option Writing.

5paisa.com Other Charges

Trading A/c processing Charges Individual Rs. 650 (exclusive of GST)
Non Individual Rs. 1,000 (exclusive of GST)
Broking Charges Cash Rs. 10 per order* (subject to Regulatory caps)
Futures and Options
Auction Charges As per 5paisa Auction process criteria
Depository Charges Demat Maintenance Charges (Individual) Rs. 45/- per month (only if he trades)
Demat Maintenance Charges (Non Individual) Yearly Rs. 400 (exclusive of GST)
Pledge creation Rs. 50
Demat – Per Certificate Rs. 15
REMAT – Per Certificate OR Per 100 Units/shares (whichever is higher) Rs. 15
Conversion of MF units/ Destatmentisation per SOA Rs. 15
Reconversion of MF units in to SOA or Redemption/Restatmentisation per SOA Rs. 15
Postal charges per request shall be charged separately Rs. 40
  • DP charges for delivery based equity selling charged only on sell side - Rs.0.025% or Rs.25 which ever is higher.
  • Call and Trade feature is available at an extra cost of Rs 100/- per call.
  • Instant payment gateway charges for over 22 banks - Rs 10 per fund transfer.

5paisa.com Platforms & Tools

5paisa.com provides terminal based, web-based and mobile app based trading platforms to its users. However, what differentiates it from the rest are the unique features these platforms provide over the rest.

5Paisa Trader Terminal

"Trader Terminal" is the desktop application designed for high volume equity traders or day traders. Trader Terminal provides high volume trading with the powerful interface and fast order execution.

Few popular features of trader terminal are:

  • Fast trade execution with instant trade confirmation.
  • Live streaming quotes and price watch on any number of stocks.
  • Intraday charts, updated live, tick-by-tick.
  • Live margin, position, marked to market profit & loss report.
  • Set any number of price alerts on any number of scrips.
  • Flexibility to customize screen layout and setting.
  • Top Gainers, Top Losers, Most Active, updated live.
  • Index information; index chart, index stock information live.
  • Online intra-day technical calls.

5Paisa Trade Station 

It is a cloud-based application that flawlessly works on browsers like Chrome, Internet Explorer, and Mozilla Firefox. This platform is known for its speed and exceptional user experience.To access this application, the user just needs to go to the official website, click Login, enter username and password and get going with their trading.Here are some of the features that the application offers:

  • Flexibility to the user to select from multiple order types
  • Intraday and historical data made available for better analysis
  • Provision to invest in mutual funds and insurance
  • Provides research tips and tricks to make quick judgements
  • Historical charts and technical analysis tools
  • Online research technical calls.

Trade Station provides limited features in comparison to Trader Terminal (Desktop Application).

5Paisa Mobile App 

The mobile application looks decent and provides one-stop access to trading, mutual funds, and insurance. It offers robo advisory tool as discussed earlier, which is one-of-its-kind feature in any mobile app. There are numerous features of the app which makes it robust and user-friendly. The app allows its users to:

  • Open all-in-one account
  • Access Mutual Fund
  • Choose from different financial plans such as save tax, investment for a specific goal, starting a SIP or invest liquid cash
  • Attain live quotes for insurance and other relevant segments
  • Attain live NSE & BSE Quotes
  • Experience advanced charting features for better analysis
  • Experience decent performance of the tool
The management of this discount stock broker claims that 70% of the transactions done every day happen through mobile app.

5paisa.com Education & Research

Unlike other peers in the stock broking industry, 5paisa.com provides research calls to its clients, which no other player in this space provides at such a low cost. The portal provides beginners, intermediate, or expert level traders different education modules based on topics like:

  • Equity
  • Technical Analysis
  • Mutual Funds
  • Derivatives
  • Trading Psychology

Client of 5paisa receives recommendations via SMS to their registered mobile number for free of cost.Apart from providing recommendations, 5paisa.com also educate people about the financial markets through Knowledge Center, the educational blog about everything from basics of the stock markets to options trading strategies.


Advantages of 5Paisa.com

 5Paisa offers various benefits to its customers. Some of them are mentioned below:

  • Brokerage charges are only Rs 10 per executed order irrespective of the trade volume, making 5Paisa one of the cheapest discount brokers in the country
  • Offers variety of trading and investment products
  • Gained brand equity and trust among customers
  • Offer advanced trading platforms
  • Despite being a discount broker, 5Paisa offers quality research, recommendations and tips to its clients
  • Investment options in IPOs, mutual funds, and insurance

Disadvantages of 5Paisa.com
  •  Slow service turnaround time
  • No fixed monthly or yearly brokerage plans
  • Hidden charges are reported
  • Customer service needs improvement

5paisa.com Customer Service

5paisa.com is available to its clients through the following communication channels:

  • Email – support@5paisa.com
  • Phone –  +91 8976 689 766

5paisa.com should certainly look forward to increase the number of communication channels such as web chat, Tool free numbers so that clients can have better number of options to get service on the move. If 5paisa is looking any sort of value to its clients through customer service, it needs to look at the following aspects very closely:

  • Train its executives team and make them skillful enough to deal with clients cominf with different types of quaries.

A lot of users have complained about the professionalism of the executives and the customer care service quality is reviewed as "below average".


5paisa.com Closing Thoughts

5paisa.com is among the fastest growing among discount brokers next to Zerodha, the Bengaluru based firm which has captured the market for discount broking taking advantage of being the first mover in the space. 5paisa.com too has registered a good growth in this segment With low brokerage, decent trading platform, provision of tips and recommendations- it certainly offers more than value for money service to its clients.

FAQ's

Q1 - How can I create demat account in 5paisa?

You can open a demat and trading account at 5Paisa completely online (no paper documents required). The account opening process is based on Aadhar Card. Therefore, your mobile number should be mapped with your Aadhar card as you’ll receive an OTP to verify your account.

Here’s the process to open your online demat and trading account with 5Paisa—

· Visit 5Paisa website using this link.
· Enter your personal details (Name, email, password etc).
· Select All In One (Trading + Investment Account) and click on ‘Open Trading + MF Account)
· upload your photo, Photo, Aadhaar Card & Cancelled Cheque
· Once you have filled all the details, you can review the complete form and sign the form digitally.
· The online trading accounts get activated within 2-3 hours and you can start trading.
· If you do not have an Aadhar physical signature will be required.

Q2 - Which type of stockbroker 5paisa is?

5paisa.com is an online discount broker backed by one of India’s leading financial services companies – IIFL, which has over 2.9 million happy customers across various business segments. 5paisa.com is established in the year 2015.

Although it is relatively a new player in the industry, it is already into three financial domains including broking, mutual funds and insurance under one roof. Within stock broking, it allows trading within NSE, BSE & MCX-SX exchanges through its membership with the respective exchanges.

The main selling point of 5 Paisa is that they offer all financial products on their platform i.e broking, Mutual funds & Insurance.

Q3 - Is 5paisa good for trading?

5paisa.com is among the fastest growing among discount brokers next to Zerodha, the Bengaluru based firm which has captured the market for discount broking taking advantage of being the first mover in the space.

5paisa.com too has registered a good growth in this segment with low brokerage, decent trading platform, provision of tips and recommendations- it certainly offers more than value for money service to its clients.

So if you are looking out for a brokerage firm that has all the investment options backed with powerful technology at the same time act as your mentor in helping you choose investment plans with a view of generating maximum returns out of your hard earned money, then 5paisa is your ultimate destination.

Q4 - How to contact 5paisa customer care?

5paisa.com is available to its clients through the following communication channels:
· Email – support@5paisa.com
· Phone – +91 8976 689 766

5paisa.com should certainly look forward to increase the number of communication channels such as web chat, Tool free numbers so that clients can have better number of options to get service on the move.

Q5 - How do I pay in 5paisa?

You can add funds directly from our trading platforms instantly using the payment gateway. There will be payment gateway charges of Rs 8 + 18% GST.The payment gateway transfer is only possible for 44 banks. List of banks.

If you don’t have a online bank account, you can do NEFt/ by walking to your nearest branch. RTGS can be done only for amounts above Rs 2 lakh and will take around 2 hours for the funds to show up in your trading account. NEFT can take upto 8 hours for the funds to show up.

Q6 - What are 5paisa brokerage & fees?

5paisa.com has surprised the broking industry by offering trading services at a flat fee of Rs. 10 per order, which is half the price of the likes of Zerodha or Upstox.

Segment

Brokerage Fee

Equity Intra-day

Rs10 per trade

Equity Delivery

Rs10 per trade

Equity Futures

Rs10 per trade

Equity Options

Rs10 per trade

Commodity Futures

Rs10 per trade

Commodity options

Rs10 per trade

Currency Futures

Rs10 per trade

Currency Options

Rs10 per trade

 

Other Fees & Charges

Trading Account opening

Rs 0*

Demat Account Opening

Rs 0*

Mutual Funds Account Opening

Rs 0*

Depository Charges - Credit

Rs 0*

Depository Charges- Debit

Rs0.025 or Rs25, which ever is higher

Transaction fee for direct MF orders

Rs10

DEMAT - Per certificate

Rs15

DEMAT - Per certificate or per 100 Units/shares
(whichever is higher)

Rs15

Conversion of MF units/
Destatmentisation Per SOA

Rs15