Looking for 5Paisa Review?
Such a different and unique name, 5Paisa represent a stockbroker company started in 2016.
We already covered some of the best other stockbroker reviews like ICICI Direct, Zerodha, Upstox and HDFC Securitas. So today we are going to review one of the biggest market leaders in brokering firm i.e. 5Paisa.
We will see 5Paisa brokerage charges, 5Paisa Demat account review, 5Paisa trading platform and much more one by one.
Here is a small recap of what we like about 5Paisa Free Demat Account opening:
- Multiple Investment Options
- Lowest Brokerage Charge in market
- Direct Option to invest in IPO
- Market research Tool available
- Free Fundamental and technical research
- Easy to use Trading Platforms
- Customer care support
And what we don’t like about 5Paisa:
- Brokerage for Delivery order
- Server down issue (In Peak hour)
- 3-in-1 Account feature is not available
Before starting any type of review lets know about your broker and some past information below:
5Paisa Review: Everything you should know about 5Paisa
5Paisa discount broker started in March 2016 in India. Within a 2 year it becomes 2nd largest online broker in India. In Dec 2018 it was listed on NSE and BSE. 5Paisa is Mumbai based broker operated from thane location.
Mainly 5Paisa deal with 3 popular segments i.e. Online trading, Mutual funds and insurance.
5Paisa online trading is available for equity, commodity, and currency at BSE, NSE, and MCX. The fixed 20 Rs. Per order of brokerage, they charge irrespective of order type and order volume.
The Name of 5Paisa represents every paisa matters in your life. Currently, they have 3 million app user. The instant paperless trading and Demat account feature make 5Paisa easy to use online trading platform.
Currently, they offer the following service:
- Online trading platform
- Mutual funds
- Robo advisor: fully automated personal finance advisor
- Algo Trading: Automated Trading decision and execute your strategies
- Paperless & Instant Loan Disbursal
Currently, 5paisa has more than 30,000 Crore of daily turnover on the stock exchange. Also, they have 4,50,000+ Clients in India. 5Paisa also awarded with “Best Broking Fintech Product at ABP News -BFSI awards “in 2019. Currently, 5Paisa has more than 500 Crore of market capitalization on the stock market.
Things I like about 5Paisa
#1. Multiple Investment Options
I Know Zerodha is Number one stock brokering farm in India but the biggest disadvantage with the number one broker is not multiple options of investment like 5Paisa.
5Paisa Gives you the option to invest in multiple platforms. You can directly invest in Equity, Future and Options, Currency and NFO.
You can also invest your money in Debt Funds, Governments Funds and various other funds using 5Paisa account.
Investors who feel risk of investing money in share market can invest their money in a mutual fund. 5Paisa gives you the direct option of investing your money in Mutual funds. You can also Buy various insurance from 17 different types of companies.
Currently, more than 3.5 lakh of the user used Insurance service of 5Paisa and they are happy with the service which they got with 5Paisa.
Investment options which I mentioned above are available on 5Paisa official website as well as on their mobile application. you can directly invest in multiple options directly using 5Paisa.
#2. Lowest Brokerage Charge in Market
5Paisa comes with 3 different types of package for brokerage charge. The first one is free and the default one which has 20 Rs. Of brokerage on every order irrespective of order type.
With the other 2 packages, you get a discount brokerage charge of 10 Rs. Of brokerage charge with every order. But the thing is both are paid. You have to buy a monthly subscription plan to avail the benefits of these 2 packages.
You can see the direct comparison in between 3 these packages below:
|Flat Fee||Rs. 20/ Order||Equity Options Rs. 2/lot, |
Others Flat Rs. 10/order
|Equity Delivery FREE, Equity Options Rs. 2/lot,
Others Flat Rs. 10/Order (Rs. 1000 FREE/month)
|DP Maintenance||Rs.45/ traded month||Free||Free|
|DP Transaction charges||Rs. 25||Free||Free|
|Net Banking Charges Pay In||10|
|Call Trade Charges||Rs. 100/ call||Free||Free|
|Direct MF Investment|
|Intraday Research||Not Available||Free||Free|
|Smart Investor||Not Available||Free||Free|
|Swing Trader||Not Available||Free||Free|
|Intraday Exposure||Upto 3.5 x||5x||5x|
|Option writing Exposure||2.5x||5x on normal & 10x on expiry||5x on normal & 10x on expiry|
|Square Off Time||1970-01-01 15:10:00||1970-01-01 15:20:00||1970-01-01 15:20:00|
If you are regular investor than buying these packages can help you lots in brokerage fee-saving. But if you don’t invest regularly than you can skip these to avoid extra charges.
#3. Direct Option to invest in IPO
Investment in IPO is the fastest way of making. If you are a beginner in the stock market than the chance of not Knowing IPO is high.
An IPO Is initial public offering period where companies who are ready to list on stock market offer companies shares on discounted price. The overall process of IPO takes less than 20 days where investors have to initially apply for IPO application.
As I already said IPO is the fastest way of money-making. If you invest in the right company than the chance of having double your money is high. For example, IRCTC issue price was 315-320 and it was listed with the price of 644 on share market after IPO Completion.
5Paisa allows you to invest in IPO Directly from their platform. Many stockbrokers don’t have this option but 5Paisa allows you to invest in IPO.
#4. Market Research Tool Available
5Paisa offer well research product from experienced professional on their platform. You do not find this feature on Zerodha and Upstox.
But this feature is not free for everyone. If you want you can buy a monthly subscription plan which includes research tool also.
This tool includes 4 Types of tools, respectively:
- Swing trader tool: short term trading ideas for next 2 days-20 days, based on CANSLIM methodology. You will also get fundamental and technical analysis with this tool.
- Smart Investor: Long term investment ideas with handpicked stocks by the expert research team.
- Small case: this tool helps you to provide modern investment product to build diversified, low cost and long-term portfolio for first-time investors.
- Sensibull: Create your own option strategies or use tools like Open Interest Analyzer, Option Analyzer, Option Chain, Greeks, Screeners, Events Calendars, IV Percentile, and much more.
#5. Easy to use Trading Platforms
5Paisa Trading platform is supported on all device. You can easily access 5Paisa trading platform directly from their official website. They also have a mobile application for trading.
5Paisa has the best dark mode theme. You can easily trade multiple order using the trading platform of 5Paisa.
You can easily invest in mutual funds with one click using 5Paisa trading terminal. The buying option for insurance is also very easy in 5Paisa.
The 2-factor authorization makes 5Paisa application more secure as compare to other brokers. All historical and intraday history is easily assessable from the terminal.
The Charting tool provides real-time indication and best market watch to book more profit.
I think any beginner can use 5Paisa terminal and easily buy and sell any stock easily without any guide.
#6. Customer Care Support
The only complaint which I have with every broker in India is they don’t provide a live chat support system. 5Paisa also not provide such service.
But you can easily raise a ticket using their official website. Usually, within 48 hours you will get the solution of your query or problem with this feature.
You can also use telephone service to solve the issue instantly. They also have email support.
I will rate 4/5 for 5Paisa customer care support. They have a very technical team for support who help to solve any type of query.
Things I don’t like about 5Paisa
#1. Brokerage for Delivery Order
The biggest disadvantage of using 5Paisa is they take brokerage charge for Delivery order. Infect most of the broker in India charge brokerage fee for delivery order.
But we also have a broker like Zerodha and Upstox who don’t take any type of brokerage for delivery order.
Delivery order will be free if you buy a monthly package of 5Paisa. Also, you can buy a platinum package to reduce brokerage charge to 10 Rs /order.
#2. Server down issue (In Peak Hour)
Actually, this issue is associated with all broker available in India. During peak hour some time 5Paisa server goes downs for next 2,3 minutes.
Sometimes this peak hour is the best time for making money. Usually, this issue frequently occurred in other brokers like Zerodha and Upstox also.
I don’t know when they are going to solve this issue completely. This type of technical error in peak hours is not good for Company reputation.
#3. 3-in-1 Account feature is not Available
Do you know what is 3-in-1 Account feature?
Many brokers like ICICI direct and Upstox offer 3-in-1 account to their customers.
Using this 3-in-1 account you can directly use:
- Demat Account
- Trading account
- Bank account
At one place.
Personally, I love this feature and request to 5Paisa team to add this feature on their platform as soon as possible.
Currently, 5Paisa offer 2-in-1 Account feature which has only Demat and trading account facility.
So, this is my honest and unbiased review about 5Paisa. 5Paisa is one of the reputed and best online brokers in India. Although there is some disadvantage of using 5Paisa personally I recommend 5Paisa as a broker to you.
How to Open Demat Account in 5Paisa?
We are going to share step by step process for new account opening.
- Click on the following link. You will get redirect to the official website of 5Paisa. Now enter basic details about yourself. And click on register. (if you open your account using above link, you will get free Demat account)
After this you need to verify you Mobile Number via OTP.
2. Now it will redirect you to the dashboard. Here you have to fill your details like Pan card, DOB, Contact details and bank details.
3. Now in this step, you have to enter your father and mother name, your job details. After filling all details click on process.
4. Enter Your Address Details in this step.
4. Here you will see free account type and package details. Select a free plan and click on process.
5. Now here you have to upload your documents like Pan card, signature, photo, address proof and bank proof. After uploading an image of all document just click on process.
You have created your free account in 5Paisa. Now you are ready to start your investing carrier with 5Paisa.
5paisa Brokerage Charges
Segment Charges (Free Plan) Charges (Platinum Plan) Charges (Titanium Plan)
Brokerage Equity Intraday 20 Rs. /Per Order 10 Rs. /Per Order Free
Brokerage Equity Futures 20 Rs. /Per Order 10 Rs. /Per Order 10 Rs. /Per Order
Currency Future 20 Rs. /Per Order 10 Rs. /Per Order 10 Rs. /Per Order
Currency Option 20 Rs. /Per Order 10 Rs. /Per Order 10 Rs. /Per Order
Equity Future 20 Rs. /Per Order 10 Rs. /Per Order 2 Rs. /Per lot
Equity Option 20 Rs. /Per Order 2 Rs. /Per lot 2 Rs. /Per lot
- DEMAT – Per certificate Rs. 15/-
- DEMAT – 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 into SOA or Redemption/ Restatmentisation Per SOA Rs. 15/-
- Credit Charges NIL
I have shared my honest review of 5Paisa. 5Paisa is one of the oldest and trusted brokers. If you are not an active trader than 5Paisa is the best option for you.
But if you are an active trader and want to save money on brokerage on Upstox and Zerodha is the best option for you.
If you have any question and you are stuck at any stage then leave your comment below, I will try to solve your issue as soon as possible.
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