5Paisa Review 2021 : Review | Pros & Cons

25 Paisa is the only broker in India that charges only a flat fee of INR 10 for a trade. Every trader needs to pay only INR 10 for each trade. It can save you a handsome amount of money if you keep trading regularly. In this article on the 5Paisa Review, I shall share all the necessary information about 5 Paisa to help you in trading.

5Paisa charges the lowest fee as compared to other discount brokers in India. Regular and heavy traders can save over 90% on the trading charges. It is a trading company headquartered in Mumbai.

Initially, it got formed by IIFL in 2007. Later they changed the name to IIFL Capital Limited, and finally, it came out as 5Paisa in 2015. It got promoted by IIFL that makes 5Paisa a reliable and safe trading option.

It can be concluded from the fact that the company has made tremendous growth in a smaller time period. There are many features that make 5Paisa popular amount its users.

To know more about 5Paisa, read the complete 5Paisa review shared by me in this article. I have provided all the information about 5Paisa. It will help you in assessing the 5Paisa as a trading platform. If you are thinking of 5Paisa or looking for a good trading platform, then this 5Paisa review will be a great help to you. 

Features of 5 Paisa

5Paisa is the next-generation investment and trading platform that provides an easy to use and hassle-free platform for its users. With its innovative technology use, it has everything that the traders or investors require from their trading company.

There are many features that make it unique and the best among other trading companies. Some of these features include IPO services, Robo advisory, intraday services, trading, and Demat account. Along with that, it offers free advisory services. 5Paisa is present across BSE, NSE, and MCX and offers to trade in equities and currency options.

Smart Investor Review

The Smart Investor is a feature that helps you with innovative stock investment ideas. You can buy this useful feature from 5 Paisa by spending INR 4999. The Smart Investor has different features as below:

  • Idea List: It is a mathematically created list of the top-most growth shares, having the Sound Base Pattern and sturdy fundamentals.
  • Model Portfolio: In this feature, the team of research analysts provides a record of the hand-picked stocks.
  • Market Outlook: This feature helps the users by providing relevant and the updated information on the Indian market conditions. It also explains whether the present market condition is good or bad growth stocks.
  • Stock Evaluation: It successfully combines the crucial information on stocks thoroughly for you. So you can formalize the decision to sell or buy the shares.

Swing Trader Review

This tool mainly focuses on the trading ideas for one day to three weeks, on the basis of the technical analysis and combined fundamentals. Swing Trader gives regular updates based on the movements of the market. The small and temporary traders can make use of it to maximize the success odds.

Smallcase

Smallcase is a portfolio or basket of the stocks of the organizations having bottom-up stories and solid momentums of earnings. These companies are more likely to make profits in the present condition of the market. It also helps users to minimize the risk with variation throughout various stocks. The traders get the entire ownership over the basket or portfolio, not like mutual funds where the traders get the funds unit only. Smallcase helps the investors change the amount of the investment at any time, and they can also sell the Smallcase entirely or in parts according to their requirements.

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5 Paisa Features That Offer Additional Advanced Tools

5 Paisa offers many services and products, which include Mutual funds and insurance investments. Check out the services offered by the 5 Paisa as below:

  • Services: The technology-driven startup provides multiple services such as IPO, Intraday, Trading and Demat account services, and Artificial Intelligence AI-based Robo Advisory.
  • Trade Station: It is a trading platform based on the browser with a high-speed feature. It lets investors invest and trade in mutual funds, derivatives, transfer of funds, and equity.
  • Products: 5 Paisa offers many trading opportunities under its wide range of options, such as Derivatives, SIPs, Mutual Funds, Insurance, Equity, and Currency for providing useful products.
  • Robo Advisory: 5Paisa Review offers the Robo Advisory service based on Artificial Intelligence, which helps in providing weekly stock performance, investment recommendations, regular stock tips, and various daily picks.
  • Research Products: There are a number of research products that include Swing trader, Smart Investor, Sensibull, and Smallcase. Smallcase creates various low-cost investment products on the basis of personal requirements.
  • 5 Paisa App Review: 5 Paisa App is a one-stop solution for any investment and trading. Everything gets integrated into just one app, including tracking the orders, customized watchlist, an overview of the net position, order & trade book, mutual funds investment, etc.
  • 5 Paisa also offers an Auto investor tool for free to its clients. This tool helps the clients with online mutual funds advisory. It also helps the clients in choosing the money-making funds based on the return expectations and risk profile.

5Paisa Account Types

There are the two types of accounts with 5 Paisa as given below:

1. Trading and Demat Account:

5 Paisa is a rapidly growing discount broker in India that provides trading and investing services in segments. These segments include derivatives, stocks, and currency.

The trading account of 5 Paisa gets supported by the technology that IIFL (Parent company of 5 Paisa) developed for more than two decades in the retail broking industry. 5Paise is a member of NSE and BSE. The customers of the 5 Paisa can trade over different segments for just a minimum rate of INR 20 for each order in the Optimum Plan.

In the Platinum Plan, the charges are only INR 10 for each order, and in the Titanium Plan, the equity delivery is free. Hence the clients can save more than 90% if compared to the other brokers charging in % of the turnover as a brokerage fee. This Trading Account is well-linked to the other products they provide. These include EPF, Mutual funds, and bonds & insurance.

2. Mutual Fund Account

It is free to open a Mutual Fund Investment Account with the 5 Paisa. It is the prime offering. This account also provides automatic periodic investment options and systematic investment plans through mutual funds in the stock market.

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Trading Platforms of 5 Paisa

  • Web Interface of 5 Paisa Review

The 5 Paisa is a stock trading site that the users can operate on any of the web browsers available on mobile devices, laptops, tablets, or PC. The users can also utilize its web interface with the available browsers, such as Firefox, Chrome, Safari, etc. Using the 5 Paisa Web Interface, the investors can perform various types of investment and trading. It also lets the users check a combined view of their holdings, positions, and portfolio over equity and mutual funds.

  • 5 Paisa Mobile trading App

It is one of the best and easy-to-use mobile trading applications as compared to any other mobile trading apps in India. The small traders who can handle all the trading on their mobile phones must give this app a try. This app is user-friendly and helps its users to access the functions with ease. Using this Mobile Trading Application, the traders can easily trade at Robo research & advisory, BSE, and NSE. The 5 Paisa Mobile Trading App allows its users to purchase stocks, trade currency futures options and stocks, invest in bonds and mutual funds.

  • Desktop Application of 5 Paisa

The 5 Paisa Desktop Application is exceptionally for the traders who do frequent trading and require the latest trading tools. The desktop application provides advanced charts for intraday, real-time data, and rates of past stocks to compare with others.

  • Algo Trading

It automatically performs the trading orders, which are on the basis of predefined parameters that include volume, price, and time.

How to open 5Paisa Account?

You can open a 5Paisa account using a paperless process. It is easy to open the 5Paisa account by simply visiting their official website and filling the online form. The online accounting process is also so fast, and it takes an hour to account activation after the online form gets submitted.

In case you face any issue in the opening account following the online process, you can leave your contact number, and their representative will contact you and guide you with the account opening.

Also, in case the Aadhar card verification fails during the paperless account opening process, then the account fails to open, and you need to follow the manual procedure to fill the form and courier it along with other required documents to their office in Mumbai.

Follow the below steps to open the 5Paisa account using paperless or online process:

Step1: Fill in the personal details:

You need to enter your PAN number, Aadhar number, and Date of Birth. All the other personal details will get fetched based on this information.

Step2: Enter the bank details:

You need to provide your bank details, including the account number and the IFSC code.

Step3: Upload required documents:

You need to upload the some documents after scanning them. These include an Aadhar card, photograph, PAN card, and a canceled cheque.

Step4: Make payment:

You need to pay the account opening charges. In addition to that, you need to enter the amount that you want to use for trading.

Step5: Submit the form:

Once all the above steps get completed, you are good to submit the form. Before submitting, make sure you review all your details and enter the digital signature. That is all, and your account takes an hour to get activated.

Documents Required

  • PAN Card
  • Aadhar Card
  • Photograph
  • Digital Signature/e-signature
  • Proof of income – Last month salary slip or Bank statement of last six months or ITR
  • Bank Account Proof – Latest bank statement or canceled cheque or bank passbook

Note: After uploading the documents, you will get the option to select the type of account.

5paisa Pros and Cons

My 5 Paisa review will be incomplete without discussing the advantages and disadvantages 5Paisa offers.

Pros of 5Paisa

Below are some of the advantages of the 5Paisa account:

  • 5paisa is affordable to everyone as all its services are available at pocket-friendly rates for everyone.
  • 5Paisa offers multiple brokerage plans to decide. All these plans are designed especially for active investors and traders and are present at lesser brokerage rates.
  • It uses the technology so that users can have a better and efficient online stockbroking experience.
  • It offers free direct mutual fund investment with advisory services.
  • IIFL Group promotes 5Paisa, making it a reliable and safe trading option.
  • 5Paisa services offer free advisory and research services with a complete analysis of the stocks.
  • It also offers insurance and other services in addition to its other services.
  • Growing at a rapid rate with an increased number of active users every year. It has made tremendous growth in a shorter time span.

Cons of 5Paisa:

Apart from the above advantages, there are few disadvantages of the 5Paisa account. You need to go through these cons before deciding whether you want to continue with 5Paisa:

  • 5Paisa has an office in Mumbai only. The branches are not present in other cities
  • 5Paisa offers Robo Advisory services, which is an AI-based response. But it lacks human recommendation and human research.
  • The facilities of the 3-in-1 Demat, banking, and trading account are not available in 5Paisa.
  • The NRI and commodity trading services are not available in 5Paisa.

5Paisa Brokerage Charges

Talking about the 5Paisa charges, there are no brokerage charges for stock delivery. A total of three plans available in 5Paisa for its traders. Different plans have different brokerage rates and charges.

Below are the three types of plans offered by 5Paisa:

  • Optimum Plan
  • Platinum Plan
  • Titanium Plan

Refer to the below table to check the 5Paisa charges for different plans:

 Optimum PlanPlatinum PlanTitanium Plan
FeesFreeINR 499/Month or INR 4,444/YearINR 999/Month or INR 8,888/Year
BrokerageINR 20/orderAll segments – INR 10/order, Equity option – INR 2/lotEquity option – INR 2/lot, Equity Delivery – Free, Other segments – INR 10/order,
Maintenance ChargeINR 45/MonthFreeFree
DP Transaction Charges0.025%FreeFree
Pay in chargesRs. 10FreeFree
Call-N-TradeINR 100FreeFree
Direct Mutual Fund Investment ChargesINR 20FreeFree
Research AdvisoryNAFreeFree

Account Opening Charges

Refer to the below table to know the Account Opening Charges:

Service5Paisa Charges
Trading Account Opening ChargesINR 650
Trading Account Maintenance ChargesFree
5Paisa Demat Account Opening ChargesFree
Demat Account Opening ChargesINR 540/year

5 Paisa Review FAQs

Q1: What are the charges for delivery for trading in 5Paisa?

A: 5Paisa charges INR20 for each executed order for trading in equity delivery. The equity delivery is also called the Cash & Carry trades (CNC).

Q2: Describe the transaction charges for using 5Paisa Trading Account.

A: 5paisa Transaction Charges 2021

SegmentTransaction Charges
Equity Delivery0.00325%
Equity Intraday0.00325%
Currency Futures0.0021%
Currency Options0.051% (on premium)
Equity Features0.0021%
Equity Options0.051% (on premium)

Q3: Does 5paisa offer IPO?

A: 5 Paisa offers online Initial Public Offer (IPO) applications to its users. IPO gives the opportunity to purchase stakes of the companies, which have not been traded before.

Q4: Is it possible to invest in mutual funds using 5 Paisa?

A: Yes. If you have a 5Paisa Review Account, the traders can purchase and sell mutual funds. It is not complicated at all. 5 Paisa makes trading simple and easy.

Q5: Does 5 Paisa charge any fee for opening an account?

A: For opening a Demat as well as Trading Account, 5Paisa charges only a small amount of INR 250. But, for commodity transactions, 5 Paisa does not charge any account opening fee. The individuals have to pay INR 400, and the non-individuals have to pay INR 1000 as an annual AMC fee.

Q6: Is 5 Paisa reliable and safe for trading?

A: The 5 Paisa is an absolutely safe platform for trading as it is one of the well-known names in discount brokers in India. 5 Paisa is popular for its top-notch services, research & advisory services, user-friendly software for online trading, and low brokerage plans. Having a huge client base of over 150,000, 5 Paisa is the rapidly growing trading platform in India. It is also registered with BSE, SEBI, NSE, CDSL, NCDEX, and MCX. 5 Paisa mobile app is well-known among its clients for its advanced trading tool. It provides 1 to 1.5% of extra annual earnings by providing direct mutual funds to its clients.

Final Verdict

As per my experience, this was the 5Paisa review. 5Paisa is one of the best and top trading accounts in India. It has many advanced features for its customers. The different account types are specifically designed to help customers to provide ease of account usage and trading. I have covered all the information about 5Paisa that you need to know about it in this 5Paisa review. I hope the 5Paisa review shared by me in this article will be helpful to you in deciding whether you want to continue with this or not.

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