|Why Open Account with 5Paisa?|
|1||Very competitive brokerage plans with Rs10 per executed order|
|2||Investing in IPOs, Mutual funds and insurance is possible|
|3||Reputed parent company i.e India Infoline limited (IIFL)|
|4||Research reports and tips are provided which is rare in case of discount brokers|
|Disadvantages of Zerodha|
|1||Non availability of fixed per month brokerage plans|
|2||Customer service is lagging|
|3||The recommendations are mainly from robotic based and purely depends on their algorithms|
5Paisa entered discount broking industry very late but doing good business in comparison to other brokers. In this 5Paisa review, I’m providing more information about brokerage, trading platforms and other details.
5Paisa is a prominent discount broker based out of Mumbai. It started its operations in year 2015 and as on date its client base is more than one lakh.
5Paisa’s parent company is IIFL (India Infoline Limited) which is one of the well known full service stock broker of India
Unlike other discount stock broker. they provide research tips and recommendation to their customer for both Fundamental and Technical analysis.
Recently 5Paisa got listed at BSE and NSE making them the only discount stock broker to be listed on stock exchanges.
5Paisa offers service under following segments:
- Mutual Funds
- NCD and NFDs
5Paisa Brokerage Charges:
Brokerage structure of 5Paisa is very simple. They charge Rs 10 per execute order except options trading. For Options trading, they charge Rs 10 per lot.
Hence options trading with 5Paisa makes it expensive compared to other discount brokers such as Zerodha and Upstox.
Below table explain their brokerage structure,
|Equity Delivery||Rs 10|
|Equity Intraday||Rs 10|
|Equity Futures||Rs 10|
|Equity Options||Rs 10/lot|
|Currency Futures||Rs 10|
|Currency Options||Rs 10/lot|
|Demat AMC Charges||Rs 400 per annum|
Please refer to this article about 5Paisa brokerage Charges for more detailed and segment wise break up of all the charges.
If interested, you can also check out the side by side comparison of 5Paisa with Zerodha here at 5Paisa-Vs-Zerodha.
Account Opening Charges:
- Trading Account opening charges: Rs 650 (One time)
- Demat Account opening charges: NIL
- Trading Account Annual Maintenance charges:NIL
- Demat Account Annual Maintenance charges: Rs 400
5Paisa Trading Platforms:
They offer trading platforms for all types of devices namely desktop, web and mobile. Let us look into each on of them and their functionalities.
5Paisa Trade Station:
It is a browser based trading platform. However it is different from the ones provided by other brokers. It is a cloud based application and available only on few browsers such as Chrome, Internet explored and Mozilla Firefox.
One can access and invest in Mutual funds also through this platform. Some of he other salient features of this browser based platform are,
- Historical and intraday data for technical and fundamental analysis
- Research reports and recommendations
- Options to place multiple order types
5Paisa Trader Terminal:
It is a desktop based software and you need to install it in your system. It is faster than “Trade Station”. It is considered as one of the top trading platforms in India.
Some of the salient features of Trader Terminal are:
- Highly customisable user interface and work environment
- Very good charting tool which has real time indication about market behavior
- Access to user portfolio and all the trade reports
- Higher security provided with two level authentication
5Paisa Mobile App:
One of its kind trading app from them not only allows to trade market, also has the Robo advisor in built.
Using the app, you can look into net position, order book , trade book and margins.
One can alsi create his/her own watchlist. Mutual funds investment is also possible through this app. Access to back office is also provided through this app.
You can also check out the Top 10 Mobile Trading apps in India.
5Paisa Contact Details:
Sun Infotech Park,
Road no 16V. Plot no B23,
Thane Industrial Area.
Wagle Estate, Thane – 4000604
5Paisa Pros and Cons:
Disadvantages of 5Paisa:
- Non availability of fixed per month brokerage plans
- It is not a 3-in-1 demat account
- Customer service is lagging
- The recommendations are mainly from robotic based and purely depends on their algorithms
- Very competitive brokerage plans with Rs10 per executed order.
- Investing in IPOs, Mutual funds and insurance is possible
- Reputed parent company i.e India Infoline limited (IIFL)
- Research reports and tips are provided which is rare in case of discount brokers
5Paisa Review – Conclusion:
5Paisa is one of the rare discount stock broker who provides research reports and recommendations. If you are the one who wish to have blend of both discount and full service stock brokers, 5Paisa can be considered.
It also has the advantage of being the promoted by IIFL. And the brokerage structure is also very competitive in broking industry.
However, their customer support is not upto mark and hence improvement is required. If you want to rate 5Paisa, please let me know through comments.