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5Paisa Review | Brokerage Charges, Account Opening
5Paisa Track Record Of Best Online Stock Broker In India
5Paisa Review | Brokerage Charges, Account Opening
5paisa is one the leading stock brokers of India. Being started on March 2016 to becoming 2nd largest stock broker of India in Dec 2018, the company covered a long way in a very short span of time. 5paisa provides trade in equity, commodity and currency at BSE, NSE and MCX. Irrespective of size of trade, segment or exchange flat ₹20 brokerage is charged. Some prepaid plans are also offered by this broker like Research and Idea Packs, and Ultra trader pack. By paying additional monthly fees, customer has to pay less brokerage fees in new add on packs.
Types of Account
i. 5paisa Trading Account: It is India’s one of the fastest growing discount broker which offers trading and investing services in different segments like stock, derivatives (F&O) and currency. Trading account offered by 5paisa are backed by the advance technology and experience developed by its parent company IIFL which is in the retail broking industry for almost 20 years. The trading services under its brokerage plan is quite simple. Trading can be done by customers throughout all the segments at a very less brokerage rate through Research & Idea packs and Ultra Trade Packs. Compared to other traditional brokers who charge brokerage fees in % of total turnover, these plans bring up-to 90% savings.
ii. Mutual Fund Account: This one is a key offering from 5paisa. Mutual Funds Investment account can be opened with 5paisa free of charge. SIP is also offered which is an automatic investment option in stock market through 5paisa. Auto investor tool is made available to the customers free of charge to help them with online mutual fund advisory. It assists in choosing right funds based on risk and return profile.
Recently, 2 subscription plans have been introduced by 5paisa which are as follow:
i. Research & Idea Pack: By subscribing to this pack client’s get the benefit of short-term trading and stock ideas for Intraday from their product called ‘Swing Trader’. It also provides a product called ‘Smart Investor’. Advance Portfolio Analytics is also provided under this plan to compare the portfolio performance. ₹499 is charged monthly for the subscription of Research & Idea Pack.
ii. Ultra-Trade Pack: This is the most attractive subscription plan under which first 100 trades of every month are free. A fee of only ₹10 is charged per order from 101st trade for all segments. Even there are no fund transfer charges. ₹999 has to be paid per month to subscribe the Ultra-trade pack. Moreover, there are no charges for call and trade.
i. Equity Future & Options: Intraday and overnight short selling is allowed F&O segment.
ii. Equity Cash: Only Intra Day short selling is allowed under 5paisa and positions are not hold for overnight. Except Z category and T2T script, short selling is available in all groups.
i. It is being promoted by IIFL which is a premier non-banking financial institution with an experience of over 20 years.
ii. Different subscription plans according to the need of clients.
iii. No software charges for trading platform like mobile app, website and desktop trading terminal.
iv. Free technical, derivative and fundamental advice to customers.
v. It offers mutual funds and insurance.
i. Non availability of 3-in-1 account
ii. High Demat debit transaction charges.
iii. Compared to other discount brokers exchange transaction charges are also very high.
iv. NRI trading services are not offered by 5 paisa.
v. It does not provide commodity trading services.
Awards and Recognition received by 5 Paisa:
i. In Mar 2019 – Recognized as leading Depository Participant (DP) by Central Depository Service Limited (CDSL).
ii. In Feb 2019 – Recognized for “Best use of mobile technology” in Financial technology sector.
iii. In Dec 2018 – Gained No.2 Position of Discount broker in India.
iv. In Nov 2018 – Emerging Brand Excellence in BFSI Sector.
v. In Nov 2018 – “Best Mobile Trading App” Award.
vi. In Jan 2018 – “Best Digital Start-up” of the year award.
Frequently Asked Question
No, It charges flat Rs.20 per executed order brokerage for stock trading and Rs.10 per executed order brokerage for mutual funds.
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.
The limit for IPO application is 2 lakhs per transaction on UPI.
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.
It allows the users to trade and to invest in equity, currency trading to go along with the mutual fund investments across BSE, and NSE.
ALB is the Adjusted Ledger Balance. It is the balance for the fund that you can withdraw or transfer back to the bank account.
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.
A minor cannot become a partner with 5 paisa.
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 de-registration will not be available from the application until the active requests are revoked/executed.
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.
No, there are no charges for transactions done through UPI.
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.
You are required to have an active equity account in order to subscribe to any of our add on back plans.
No, only one bank account with one IPO application is allowed.
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.
You need to send physical signed form to get your demat and trading account closed.