As we know 5Paisa is the fastest growing stock broker, which offers trading service without any human interactions.
It provides different trading, mutual funds, insurance, Robo advisor, Algo Trading and loans entirely online.
5paisa is a leading stockbroker in India. It has membership in BSE and NSE. It provides online trading in equity, commodity, and currency at BSE, NSE, and MCX. It is a flat rate discount stockbroker. A flat rate of ₹ 20 is charged as brokerage irrespective of the size of the trade or segment.
The brokerage complaints report provides the detail about the number of complaints received by the stock exchanges from the 5paisa customers. Its consumer complaints report analyses the 5paisa online complaint data provided by BSE and NSE. This report helps us to analyse the position of the broker in the market.
All complaints against 5paisa broker are serious grievances which the broker has failed to resolve. The customers later on filed these legal complaints with the stock exchange.
These all number of complaints indicates the total number of active clients of 5paisa.
And remember all these are only the active clients not the total clients of 5paisa.
5paisa Consumer Complaints
EXCHANGE
FINANCIAL YEAR
NUMBER OF CLIENTS
TOTAL COMPLAINTS
BSE
2020-21
70,969
7
NSE
2020-21
696,869
339
BSE
2019-20
70,767
18
NSE
2019-20
434,036
199
BSE
2018-19
24,382
14
NSE
2018-19
101,043
96
BSE
2017-18
19,545
28
NSE
2017-18
36,034
41
BSE
2016-17
432
1
NSE
2016-17
3,652
2
BSE
2015-16
428
1
5paisa complaint at NSE
PARTICULARS
2020-21
2019-20
2018-19
Defaulter Yes/No
No
No
No
No. of active clients
696869
434036
101043
No. of complaints received *
339
199
96
Resolved through the exchange
277
169
86
Non actionable **
23
14
0
Advised / Opted for arbitration
0
1
0
Pending for redressal with exchange
39
15
10
No. of arbitration filed by clients
1
3
2
Decided by arbitrators in favour of the clients
0
1
2
Decided by the arbitrators
0
0
2
Pending for redressal with arbitrators
1
2
0
% of No. of complaints as against No. of active clients
0.04
0.04
0.09
% of complaints resolved as against complaints received
88.49
92.46
89.58
5paisa complaint at BSE
PARTICULARS
2020-21
2019-20
2018-19
Defaulter Yes/No
No
No
No
No. of clients at the beginning of the year
639362
184729
58437
No. of active clients
70969
70767
24382
No. of complaints received *
7
18
14
Resolved through the exchange
7
17
13
Non actionable **
0
0
0
Advised / Opted for arbitration
0
0
0
Pending for redressal with exchange
0
1
1
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
% of No. of complaints as against No. of active clients
0.01
0.03
0.06
% of complaints resolved as against complaints received
The features are listed below:
1. Zero brokerage.
2. Free premium Research and advisory.
3. Paperless account opening.
4. Free account opening.
5. Free mutual fund account opening.
In order to track the account opening status of your references, you need to follow these steps:
1. Login to 5paisa.com partner section.
2. Click on the dashboard.
3. Select the lead status and you will be able to see the account opening status of your reference.
The steps to download profit and loss reports in 5paisa are:
1. Enter your username and password by logging in to your account.
2. Click on your Profile logo on the dashboard.
3. Go to “My reports” from the options tab.
4. Select “Portfolio” from the reports option.
5. Select the necessary filters.
6. Click on the PDF or Excel button and download your P&L report from 5paisa.
If the customer applies online to open an account then the account will be opened within an hour.
If the customer applies offline to open an account then the account will be opened within 24 hours. Any mistake in the submitted forms or documents would delay the account opening process.
You will get a link which you can send to your references. One your references add their name, mail Id and mobile number then the credit will be given to you automatically.
The add on packs do not include the GST tax. All the paid plans will be charged at 18% GST over and above the add on pack fees and the same shall be non-refundable.
To change your billing date, you are required to cancel your subscription and restart it on the date you would like to bill it on.
In case you cancel it in the middle of your billing cycle, the cancellation shall be effective only at the end of that billing cycle and then you will be unable to re-subscribe your account until after that time.
5paisa.com does not provide any marketing support. The customer is required to search their references on their own. Although, the complete information about 5paisa.com is available on the website. The information present on website can be used for convincing clients.
When you sell any stocks held in your demat account and the securities are debited from the demat account then a demat debit charge is levied by 5paisa. The charges are 0.025% i.e. minimum Rs.25 per transaction of the value of securities.
The signature may get rejected due to the following reasons:
1. If the client has signed other than blue or black ink in the sent documents.
2. If the client has signed with pencil.
3. If the signature file is not uploaded properly.
4. If the signature does not match with your PAN.
5. If the signature is blur and not visible.
This broker results as a fantastic choice for the beginner clients as it is cheap. It charges a flat rate brokerage for all the segments and allows investment with assistance of small chunk of money without the need of deploying massive funds into the demat account.
They are the type of mutual funds that invest in securities with a residual maturity of up to 91 days. The assets invested are not tied up for a long time as liquid funds do not have lock-in period.
It is the date on which the client’s investment will be processed each month. When a client does an SIP then the amount is debited from their bank account one business day prior to the SIP date.
A Virtual Payment Address (VPA) is a unique identifier that can be used to send and receive money on UPI. Think of it as an email Id that you can use to transfer money.
No, this broker belongs to the house of discount brokers and they don’t provide research services. However, the customers can rely on 5paisa terms of information regarding the top picks. Its robo advisory tool guides the customers through lot of aspects.
UPI is an abbreviation used for Unified Payments Interface (UPI). It is an instant payment system developed by the National Payments Corporation of India (NPCI), an RBI regulated entity. It is built over the IMPS infrastructure and allows you to instantly transfer money between the sender and the receiver.
Yes, It is safe, trustworthy and reliable stockbroker. It is promoted by Mr. Nirmal Jain, the founder of IIFL group (formally India Infoline). This broker is professionally managed and publicly traded company that is listed at BSE and NSE.
In order to get your SIP stop, follow the steps:
1. Go to Mutual Funds order book.
2. Click on the SIP section.
3. Click on the scheme you wish to stop.
4. Click on the Stop SIP option.
5. Select a reason and click on stop SIP.
The customer can redeem investments by using the following steps:
1. Visit the Mutual Fund Portfolio (termed as MF Holdings on web).
2. Tap on the scheme you would like to redeem.
3. Click on Redeem.
4. Choose the units or amount to redeem.
5. Click on Confirm.
If you have insufficient balance in your bank account while accepting the IPO mandate then the transaction will get declined. You need to have sufficient funds in your bank account to carry on the transaction.