by admin | May 4, 2024
5Paisa provides advanced trading tools, flat brokerage plans, technical support, and customized packages of brokerage services for different investors and traders. It also gives its users free research and stock picks as backup support and three different plans at an extra cost. Other features of 5 Paisa that appeal to investors are the educational content and market guides to help them make better decisions.
Let’s start this 5Paisa review with a brief overview of the company.
Table of Contents
5Paisa Overview
| Company Type | Public |
| Headquarters | Mumbai |
| Founder | Nirmal Jain |
| Establishment Year | 2016 |
| Broker Type | Discount Broker |
| Active Clients | 5 Lakh+ |
| Account Opening Charges | Free |
5Paisa is an online trading and broking platform in India which was established in 2016. It is a subsidiary of IIFL Holdings Limited, one of the leading financial services groups in India. 5 Paisa allows its customers to trade in equity, derivatives, commodities, currency, mutual funds, IPOs, and US stocks at a flat fee of ₹20 per order. It also provides research and advisory, margin funding, robo-advisory, and wealth management services. With dedication in all the service offerings, 5Paisa has won the Best Digital Startup of the Year” Award in 2018.
Features of 5Paisa
- Multiple Products: Invest in equities, derivatives, commodities, currencies, IPOs, insurance, and even US stocks – all from one account.
- Flat Brokerage: Trade with a simple and transparent flat fee of Rs. 20 per order across all segments.
- Lower Brokerage Options: Enjoy lower fees of Rs. 10 per order with 5paisa’s paid brokerage plans.
- All-in-One Account: Open a single account for Demat, Trading, and a free 5paisa Mutual Fund account.
- Fast and Easy Account Opening: Get started in just 5 minutes with a paperless process.
- Commission-Free Mutual Funds: Invest in over 9,000 mutual fund schemes without any brokerage or commission.
- Seamless Fund Transfers: Transfer funds effortlessly via UPI and IMPS for free.
- Expert Insights: Get access to actionable intraday trading ideas and fundamental research on 4,000+ stocks.
- Advanced Trading Platforms: Trade with ease on the intuitive 5 paisa Trading App, Trade Station 2.0, or the website.
- Personalized Investment Guidance: Receive custom-crafted research and investment ideas, along with portfolio advisory services through 5 paisa Wealth.
5Paisa brokerage charges
| Brokerage Charges | Add-on-Packs | ||
| Plan Name | Basic | Ultra Trader Pack (Rs.999/Month) | Power Investor Pack (Rs.499/Month) |
| A/C Opening Charges | Free | Free | Free |
| 5Paisa AMC | Annual Maintenance Charge ₹0 for less than ₹50,000 holding value up to 1 Demat account. ₹8 for ₹50,000 to ₹2,00,000 holding value up to 1 Demat account. ₹25 for holding value above ₹2,00,000 up to 1 Demat account. ₹25 for holding value ₹2,00,000 & number of Demat accounts across brokers is more than 1. | Annual Maintenance Charge ₹0 for less that ₹50,000 holding value up to 1 Demat account. ₹8 for ₹50,000 holding value to ₹2,00,000 up to 1 Demat account. ₹25 for more than ₹2,00,000 holding value up to 1 Demat account. ₹25 for holding value less than ₹2,00,000 & number of Demat accounts across brokers is more than 1. | Annual Maintenance Charge ₹0 for holding value less than ₹50,000 up to 1 Demat account. ₹8 for is ₹50,000 to ₹2,00,000 holding value up to 1 Demat account. ₹25 for more than ₹2,00,000 holding value up to 1 Demat account. ₹25 for less than ₹2,00,000 holding value & number of Demat accounts across brokers is more than 1. |
| Call & Trade Charges | Free | Free | Free |
| DP Charges | DP Transaction Charge Debit ₹12.5 per scrip, (When you sell shares, this charge is levied) | Zero | DP Transaction Charge Debit ₹12.5 per scrip, (When you sell shares, this charge is levied) |
5Paisa Equity Brokerages charges
| Brokerage Charges | Add-on-Packs | ||
| Plan Name | Basic | Ultra Trader Pack (Rs.999/Month) | Power Investor Pack (Rs.499/Month) |
| Equity Delivery Brokerages | Rs.20/ per order | Zero Brokerage | Rs.10/ Per Order |
| Equity Intraday Brokerages | Rs.20/ per order | Rs.10/ Per Order | Rs.10/ Per Order |
| Equity Future Brokerages – Intraday | Rs.20/ per order | Rs.10/ Per Order | Rs.10/ Per Order |
| Equity Future Brokerages – Carry Forward | Rs.20/ per order | Rs.10/ Per Order | Rs.10/ Per Order |
| Equity Options Brokerages | Rs.20/ per order | Rs.10/ Per Order | Rs.10/ Per Order |
5Paisa Currency Brokerage Charges
| Brokerage Charges | Add-on-Packs | ||
| Plan Name | Basic | Ultra Trader Pack (Rs.999/Month) | Power Investor Pack (Rs.499/Month) |
| Currency Future Trading Brokerages – Intraday | Rs.20/ per order | Rs.10/ Per Order | Rs.10/ Per Order |
| Currency Future Trading Brokerages – Carry Forward | Rs.20/ per order | Rs.10/ Per Order | Rs.10/ Per Order |
| Currency Options Trading Brokerages – Intraday | ₹ 10 | per lot | Rs.10/ Per Order | Rs.10/ Per Order |
| Currency Options Trading Brokerages – Carry Forward | ₹ 20 | per lot | Rs.10/ Per Order | Rs.10/ Per Order |
| Commodity Future Trading Brokerages – Intraday | Rs.20/ per order | Rs.10/ Per Order | Rs.10/ Per Order |
| Commodity Future Trading Brokerages – Carry Forward | Rs.20/ per order | Rs.10/ Per Order | Rs.10/ Per Order |
| Commodity Options Trading Brokerages | Rs.20/ per order | Rs.10/ Per Order | Rs.10/ Per Order |
5Paisa commodity charges
| CHARGES | FUTURES | OPTIONS |
| Transaction Charges | Grp A (28 Commodities) 0.0026% | Options Contracts: 0.05% |
| Grp B (4 Commodities) | ||
| BLACK PEPPER – 0.0005% | ||
| BRASS – 0.0005% | ||
| CASTORSEED – 0.0005% | ||
| RBDPALMOLEIN – 0.001% | ||
| GST | 18% | 18% |
| STT | NA | NA |
| CTT | 0.01% (Sell Future) | 0.05% (Sell Option)0.0001% (On exercise purchaser) |
5Paisa currency charge
| CHARGES | FUTURES | OPTIONS |
| Transaction Charges | 0.0009%(Future) | 0.035% (Options) |
| GST | 18% | 18% |
| STT | NA | NA |
| SEBI Charges | 0.00% | 0.00% |
How to open a 5paisa demat account?
- Go on official website of 5Paisa : https://www.5paisa.com/
- Click on open “Open Account Now”
- To verify your mobile number, enter the 4-digit OTP that you received on your phone.
- Verify email address in same way
- Enter your PAN number and your date of birth as per your PAN card.
- To access your documents, go to Digi Locker, a government authorized portal, and click on “Continue”.
- Enter your Aadhaar number and the OTP that you received on your phone.
- Enter your account number and IFSC code, and click on “Verify”.
- To complete your personal details, enter your gender, marital status, education, occupation, and experience, and click on “Proceed”.
- Click on “Take a Selfie” and capture your image.
- Upload your signature, click on “Save & Continue”.
- To upload your documents, select your PAN card, address proof, and income proof (if you want to trade in derivatives).
- Sign the documents electronically, click on “E-sign Now”, enter your Aadhaar number, enter the OTP, and click on “Verify OTP”.
People Also Read:- Best Demat Accounts in India
5Paisa Margin
| 1 | Equity Delivery Margin – Cash Product | Up to 5X |
| 2 | Equity Intraday Margin | Up to 5X |
| 3 | Equity Future Margin | No Margin |
| 4 | Equity Options Margin | No Margin |
| 5 | Currency Future Margin | No Margin |
| 6 | Currency Options Margin | No Margin |
| 7 | Commodity Futures Margin | No Margin |
| 8 | Commodity Options Margin | No Margin |
Pros and cons of 5Paisa
| Pros of 5Paisa | Cons of 5Paisa |
| 5 paisa caters to all investors, from novices to professional traders. | Customer service needs improvement. |
| Invest in everything, from stocks to commodities, in one account. | Higher exchange fees than competitors. |
| Free research and an advanced platform empower your trades. | Call & trade costs extra. |
| Get free stock research and advisory without lifting a finger. | No NRI trading services are available. |
5Paisa Review & Rating by PaperTradingApp
Reviews for 5Paisa
Charges Review
- 5paisa has a flat brokerage fee for all trades. They offer different brokerage plans with premium features.
- The call & trade fee is higher than other brokers.
- 5 paisa provides various services such as portfolio analyzers, monitoring services, etc. with their premium plans.
Customer Service
- Review 5 paisa offers call & email support, but customers have complained about slow responses.
- They also have automated chat support and a ticket system for queries.
- Their website has FAQs organized by categories.
Ease of Use Review
- The trading platforms are easy to use. You can get platforms with terminal experience for an extra fee.
- The back office is integrated with the trading platform.
- The website has enough educational content. You can use a single platform to invest in insurance, mutual funds, etc.
5Paisa Rating
| Overall rating | 2.6/5 |
| Fees | 2.9/5 |
| Brokerage | 3.5/5 |
| Usability | 2.7/5 |
| Customer service | 2.1/5 |
| Research capability | 2.4/5 |
People Also Read:- m.Stock review
Why choose 5Paisa?
| If you are a trader 5Paisa offers you: | If you are an investor 5Paisa offers you: |
| 5 Paisa School App to learn trading skills and strategies. | With the premium plan, you can get an intelligent portfolio, an in-depth analyzing tool, and research reports to help you make better decisions. |
| Software and premium plans for advanced trading features and tools. | You can also access stock ideas for long-term investments in premium subscriptions. |
| Margin facilities to increase your trading power and returns. | You can invest in stocks, insurance, mutual funds, etc. from one platform. |
| All trading features in one place- 5Paisa Trading App. | You can learn more about investing from the well-drafted knowledge center. |
| Shortcut keys to execute trades faster and easier. |
5Paisa trading platforms
| 5Paisa Android App Download | Android App |
| 5Paisa iOS App Download | iOS App |
| 5Paisa Web Trading Platform | Web Trading |
- 5paisa Mobile Trading App:- 5paisa’s mobile app is your one-stop shop for everything trading and investing. Invest in stocks, commodities, currencies, and even US stocks, all while accessing research and advisory services. With a clean interface, real-time data, seamless trade execution, and bank-level security, this app is perfect for both seasoned and aspiring investors.
- 5paisa Trade Station Web:- With 5paisa’s Trade Station Web, you can trade online from any browser, whether it’s Firefox, Safari, or Chrome. This web trading platform is fast and easy to use, and it offers many unique features. You can access advanced charting tools, a user-friendly interface, Valid Till Triggered orders, 20-level market depth, and a notification center. Trade Station Web is the best way to trade with 5paisa.
- 5paisa Trade Station 2.0 [Desktop trading terminal]:- If you are an advanced trader, you will love 5paisa Trade Station 2.0. It is a revolutionary desktop trading platform that delivers a powerful trading experience. This desktop trading terminal is superfast and super-efficient, and it offers advanced and powerful charting features with over 100 built-in technical indicators. You can also use a Trade station scanner, Option chain with Auto Analysis, customized watchlist, customized workspace, and easy navigation with short-cut keys to trade with speed and accuracy.
- 5Paisa FnO 360:- FnO 360 is a trading platform for derivatives traders by 5paisa. It offers advanced tools and products in one window, such as multiple strategies, ideas, charts, option chain matrices, advanced order types, and more. FnO 360 makes trading smooth and easy.
- 5paisa Algo Trading:- 5paisa also offers a modern algo trading platform for professional traders. Customers can pick, test, and use expert-coded strategies on the 5paisa trading terminal for fast order placement.
People Also Read:- Best Trading App in India
5Paisa Customer Support
| Trading Support:- Available, Chargeable | Dedicated Dealer:- Available, Chargeable |
| Support Desk Helpline:- 8976689766 | Email Support:- [email protected] |
| Website:- 5Paisa Website | |
| Telegram |
5Paisa comparison with other brokers
| Broker | 5paisa | Zerodha | Upstox | Fyers | Paytm Money |
| Service Type | Discount Broker | Discount Broker | Discount Broker | Discount Broker | Discount Broker |
| Brokerage Range | Rs 20 | Rs 20 | Rs 20 | Rs 20 | Rs 20 |
| Account Type | 2 in 1 | 3 in 1 | 3 in 1 | 2 in 1 | 2 in 1 |
| Equity Delivery | Flat Fee Rs 20 | Free | 2.5% or Rs 20 whichever is lower | Free | 2.5% or Rs 20 whichever is lower |
| Equity Intraday | Flat Fee Rs 20 | 0.03% or Rs 20 whichever is lower | Rs 20 or 0.05% whichever is lower | 0.03% or Rs 20 whichever is lower | 0.05% or Rs 20 whichever is lower |
| Equity Futures | Flat Fee Rs 20 | 0.03% or Rs 20 whichever is lower | Rs 20 or 0.05% whichever is lower | 0.03% or Rs 20 whichever is lower | 0.02% or Rs 20 whichever is lower |
| Equity Options | Flat Fee Rs 20 | Flat Fee Rs 20 | Flat Fee Rs 20 | Flat Fee Rs 20 | Flat Fee Rs 20 |
| Commodity | Flat Fee Rs 20 | Flat Fee Rs 20 | Flat Fee Rs 20 | Flat Fee Rs 20 | NA |
| Currency Futures | Flat Fee Rs 20 | 0.03% or Rs 20 whichever is lower | Rs 20 or 0.05% whichever is lower | 0.03% or Rs 20 whichever is lower | NA |
| Currency Options | Flat Fee Rs 20 | Flat Fee Rs 20 | Flat Fee Rs 20 | Flat Fee Rs 20 | NA |
| Rating | 4/5 | 4.5/5 | 4.5/5 | 4/5 | 4/5 |
People Also Read:- Zerodha vs m.Stock
5Paisa complaints chart
| 2023-24 | 2022-23 | 2021-22 | |
| Active Clients | 500442 | 652353 | 1754330 |
| Complaints | 117 | 250 | 324 |
| Resolved through the exchange | 97 | 211 | 282 |
| Non actionable | 11 | 24 | 30 |
| Advised / Opted for arbitration | 0 | 0 | 0 |
| Pending for redressal with exchange | 9 | 15 | 12 |
| No. of arbitration filed by clients | 1 | 4 | 0 |
| Decided by arbitrators in favour of the clients | 0 | 1 | 0 |
| Decided by the arbitrators | 0 | 0 | 0 |
| Pending for redressal with arbitrators | 1 | 3 | 0 |
5Paisa complaint at BSE
| 2023-24 | 2022-23 | 2021-22 | |
| Active Clients | 65810 | 172986 | 157397 |
| Complaints | 4 | 18 | 27 |
| Resolved through the exchange | 3 | 16 | 27 |
| Non actionable | 2 | 3 | 4 |
| Advised / Opted for arbitration | 0 | 0 | 0 |
| Pending for redressal with exchange | 1 | 2 | 0 |
| No. of arbitration filed by clients | 0 | 0 | 0 |
| Decided by arbitrators in favour of the clients | 0 | 0 | 0 |
| Decided by the arbitrators | 0 | 0 | 0 |
| Pending for redressal with arbitrators | 0 | 0 | 0 |
Conclusion
To conclude, 5 Paisa is a good choice for investors who are looking for a low-cost and convenient online trading platform that offers a variety of investment options. It offers a user-friendly interface and comprehensive research tools that help users make smart investment decisions. However, customer service is an area that needs improvement. Apart from that, 5Paisa is worth it and one of the best options.
FAQs on 5Paisa Review
Q.1. What is the minimum balance for a 5paisa trading account?
Ans:- You need to maintain a minimum balance of Rs 450 in your trading account at any time.
Q.2. What are the 5paisa option trading charges?
Ans:- You can refer to the above table which has mentioned all the charges for 5Paisa option trading.
Q.3. Which income proof is needed for the 5Paisa account opening?
Ans:- You need to submit a copy of any of these documents to prove your income to 5paisa: an Income Tax Return (ITR) form, recent pay slip, bank statement of the current account, or personalized cheque with cancellation.
Q.4. What is a 5paisa brokerage calculator?
Ans:- 5Paisa brokerage charges calculator is a tool that helps you to calculate the brokerage charges and other fees that you have to pay when you trade with 5paisa.
Q.5. Is 5paisa good for beginners?
Ans:- Yes, 5paisa is considered suitable for beginners. It operates as a discount broker, offering a user-friendly platform with low brokerage fees. The platform provides educational resources, research tools, and a simple interface, making it accessible for novice investors.
Q.6. Is 5paisa a discount broker?
Ans:- Yes, 5paisa operates as a discount broker. Discount brokers typically offer cost-effective trading solutions with lower brokerage fees compared to full-service brokers. 5paisa’s discount model makes it appealing to cost-conscious investors, including beginners.
Q.7. What is the annual maintenance fee of 5paisa Demat account?
Ans:- The annual maintenance fee for a 5paisa Demat account may vary, and it’s advisable to check the latest fee schedule on the 5paisa website or contact their customer support for the most accurate and up-to-date information.
Q.8. Who owns 5paisa?
Ans:- 5 paisa is owned by IIFL (India Infoline) Group, a prominent financial services company in India. IIFL Group is involved in various financial services, including broking, wealth management, and investment banking. 5paisa is one of the subsidiaries of IIFL Group.