5Paisa Review 2020: DEMAT and Trading Account
5Paisa is one of the biggest discount brokers in India, headquartered in Mumbai, Maharashtra, India. The discount broker is a part of one of the leading financial services company India Infoline (IIFL).
The company was launched in 2007 and was re-launched in the year 2016 with a new brokerage model for retail investors. 5paisa is a SEBI registered broker and is backed by a strong NBFC company.
Table of Contents
Trading Instruments
5Paisa provides trading in equity, currency commodity, and mutual funds through exchanges like NSE, BSE, and MCX. 5paisa charges flat Rs 20 brokerage ignoring the size of the trade, segment, or exchange, making it a low priced discount broker.
5Paisa Brokerage and Other Charges
5Paisa charges Rs 20 per order brokerage on every segment irrespective of order size, but 5Paisa also offers some subscription service, that could lead a very lower brokerage. So here are the subscription plans of 5Paisa.
1. Optimum: Rs 0/Month
In this plan you have to pay Rs 20 per trade.
2. Platinum: Rs 499/Month + Taxes
In this plan you have to pay Rs 10 per order and Rs 2 per lot in equity option. Other features in this plan include Free research advisory, Zero DP charges, and some additional margins in future and option selling.
3. Titanium: Rs 999/Month + Taxes
The third plan is the Titanium plan, where you have to pay zero brokerage on equity delivery and Rs 10 on other orders and for equity option you have to pay only Rs 2 per lot. In this plan you will get free research advisory and some additional margins.
Detail Break-Down of 5Paisa Brokerage Charges 2020
| Charges Type | Optimum Plan | Platinum Plan | Titanium Plan |
|---|---|---|---|
| Fee | Free | Rs 499/ month; Rs 4,444/ year | Rs 999/ month; Rs 8,888/ year |
| Brokerage | Rs 20/order | Rs 10/order, Equity Options- Rs 2/lot | Equity Delivery-Free, Equity Options- Rs 2/lot, Other segments- Rs 10/order |
| Maintenance Charge | Rs 45/ Traded Month | Free | Free |
| DP Transaction Charges | Rs 25 or 0.025% | Free | Free |
| Pay In charges | Rs 10 | Free | Free |
| Call-N-Trade | Rs 100/ call | Free | Free |
| Direct MF Investment Charges | Rs 20 | Free | Free |
| Research Advisory | Not Available | Free | Free |
| Free Trades | NA | NA | Free 100 trades per month maximum of Rs 1000 |
| Dedicated Customer Support | NA | Free | Available |
5Paisa Other Charges (Non-Brokerage)
| Service | Charges |
|---|---|
| Trading Account Opening Charges (One Time) | Rs 650 |
| Trading Annual maintenance charges (AMC) | Rs0 |
| Demat Account Opening Charges (One Time) | Rs 0 |
| Demat Account Maintenance Charges (AMC) | Rs 45/Traded Month- Optimum Plan; Other plans-Free |
5Paisa Trading Platforms
Based on IIFL’s trading platforms, 5Paisa offers a mobile trading app, a web-based trading platform, and a desktop trading platform for Windows PC.
5Paisa Mobile Trading Application
5Paisa provides a mobile application for trading and investment purpose for its customers. You can download the application from Google play store or Apple store. The application provides livestock market quotes, advanced charting, trading in commodity, currency, and equity segments.
The mobile application is user friendly and easy to use, but on a busy day you may face some issues regarding order placing or quotation updates. Overall, its a familiar and well build mobile trading platform by 5paisa.
5Paisa Desktop Trading Platform
Like other stock brokers 5Paisa also provides a desktop-based trading platform, which can be installed in Windows PC. The application is quite fast and just like the professional trading terminal. You need your client id, email, or phone number for the login purpose and your secret password. You can trade in all the segments through this desktop trading platform by 5Paisa.
5Paisa Web-Based Trading Platform
The web-based trading platform, that can be accessed through web browsers like Edge, Chrome, or Firefox. Using the platform you can trade in every segment 5paisa offers.
This web-based platform, it is very slow and glitchy. The platform is not recommended by us. This is where 5paisa needs some improvement.
5Paisa Margins
| Delivery | Up to 4X |
| Intraday | Up to 20X |
| Equity Futures | Up to 5X |
| Equity Options | Up to 10X |
| Currency Futures | Up to 3X |
| Currency Options | Up to 10X |
| Commodities | Up to 10X |
5Paisa Account Opening
How to Open 5Paisa DEMAT and Trading Account?
5Paisa offers 2 in 1 DEMAT and the Trading account and account opening process are completely online. Here are the steps to open the 5Paisa DEMAT and Trading Account.
- Fill your mobile number and email address on the 5Paisa account opening page.
Fill in your personal details like PAN and Aadhar number.
- Fill your bank details like Account Number and IFSC.
- The next step is to upload your photo, signature, Aadhaar Card & Cancelled Cheque through the app itself.
- The last step is to E-sign your documents through the e-Aadhar platform.
Documents required for 5Paisa Account opening
- Aadhar Card (Mobile number should be linked with)
- PAN Card
- Photo (Self)
- Bank Statement (6 months for f&o Activation) or Cancel Cheque
Other Products Offered by 5Paisa
Swing Trader
A swing trader is a short-term trading research platform, where equity calls are provided on a daily basis.
Smart Investor
It is also a research platform, where investment calls are provided and guide the investor step by step.
Algo Trading
An automated trading tool for advanced technology-friendly traders.
Small case
A thematic investment platform and a third-party partner of 5Paisa.
Sensibull
An options analysis and trading tools for options traders.
Advantages and Disadvantages of 5Paisa
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