5Paisa 2024 – A Honest Unbiased Review

5Paisa is a commendable option for high-value trading, offering a cost-effective approach with a fixed charge of only Rs. 10 per trade, irrespective of trade volume. This translates to lower brokerage costs, particularly beneficial for those engaging in substantial-value trades. Notably, 5Paisa stands out as the only publicly listed company in the discount broking space in India.

The range of services provided by 5Paisa includes stock trading and investment, futures and options trading, currency F&O trading, mutual funds investments, and insurance products.

Breaking down the brokerage charges for 5Paisa, the platform charges Rs. 20 for stock delivery transactions. For trading, 5Paisa offers three subscription plans: Regular, Power Investor, and Ultra Trader Plans. The brokerage charges under these plans vary for different types of transactions.

Transaction | Regular Plan | Power Investor | Ultra Trader
– Stock Delivery | Rs. 20 per order | Rs. 10 per order | Free
– Stock Intraday Trading | Rs. 20 per order | Rs. 10 per order | Rs. 10 per order
– Stock Futures | Rs. 20 per order | Rs. 10 per order | Rs. 10 per order
– Stock Options | Rs. 20 per order | Rs. 10 per order | Rs. 10 per order
– Currency F&O Trades | Rs. 20 per order | Rs. 10 per order | Rs. 10 per order

5Paisa offers different subscription plans with varying charges

– Regular Account: Rs. 0 per month
– Power Investor: Rs. 599 per month
– Ultra Trader: Rs. 1199 per month

In terms of annual charges, 5Paisa has no fees for demat and trading account opening. The demat annual maintenance charges are as follows:

Holding Value | No. of Demat Accounts | AMC Charges per Month
– Less than 50,000 | 1 Demat Account | Rs. 0
– 50,000 – 2 Lacs | 1 Demat Account | Rs. 8
– More than 2 Lacs | 1 Demat Account | Rs. 25
– Any Value | More than 1 Demat across brokers | Rs. 25

In summary, 5Paisa offers a competitive fee structure, making it an attractive choice for those involved in high-value trading, and its publicly listed status adds a layer of transparency and credibility to its services.

  1. Smart Investor Review

For those seeking stock investment ideas, 5Paisa offers the “Smart Investor” feature, available at Rs. 499+GST. This innovative feature includes:

– Model Portfolio: A selection of hand-picked stocks curated by 5Paisa’s research analysts team.
– Idea List: An algorithmically generated list of top growth stocks with strong fundamentals and sound base patterns.
– Stock Evaluation: A comprehensive view that efficiently combines key stock information essential for validating buy or sell decisions or for further research commitment.

– Market Outlook: Regular commentary on overall Indian market conditions, clarifying whether the current environment favors or hinders growth stocks.

  1. Smallcase (Innovative Alternative to Mutual Funds) Review

5Paisa introduces “Smallcase,” a basket or portfolio of stocks/ETFs featuring companies with robust earnings momentum and bottom-up stories, poised to benefit in the current market scenario. This innovative offering aims to lower risk through diversification across multiple stocks. Investors gain complete ownership of the portfolio, unlike mutual funds where they receive fund units. Additionally, investors can easily adjust the investment amount in “Smallcase” at any time and have the flexibility to sell the Smallcase either fully or partially.

  1. Swing Trader Review

The Swing Trader tool by 5Paisa focuses on short-term trading ideas spanning 1 day to 3 weeks, grounded in a combination of fundamental and technical analysis. This tool caters to short-term traders, enhancing the odds of success by providing regular recommendation updates based on market movements.

5Paisa Margin / 5Paisa Leverage & Exposure

Under the Margin and Leverage category, 5Paisa offers the following:

– Equity Intraday Trading: Up to 5X margin.
– F&O Exposure Intraday: Up to 1 time margin.
– Option Writing Exposure: 1 time margin.
– Currency Futures: 1 time margin.

These features contribute to the comprehensive and innovative suite of products and tools offered by 5Paisa, enhancing the trading experience for investors and traders alike.

What I Like About 5Paisa

  1. Paperless & Fast Account Opening Process: The convenience of a paperless and swift account opening process streamlines the onboarding experience for users.
  2. Good Customer Care Support: 5Paisa is appreciated for its effective customer care support, ensuring users receive assistance and guidance when needed.
  3. Cheaper & Fixed Brokerage Charges (No Complexity): The platform stands out for its cost-effective and straightforward brokerage charges, providing clarity for users without introducing complexity.
  4. Great Trading Platform: The trading platform offered by 5Paisa is well-regarded, offering a robust and efficient system for executing trades and managing investments.

What I Didn’t Like About 5Paisa

  1. Costly Trading via Phone Calls: Engaging in trading via phone calls comes with a high cost, at Rs. 100 per call, which may be a drawback for some users.
  2. Server Down Issues During Peak Trading Hours: Some traders have reported server-down issues during peak trading hours, which can be inconvenient for those actively involved in trading activities.

5Paisa Trading Platforms Review

  1. 5Paisa Web Interface Review: The Trader Station, accessible through any PC, laptop, mobile device, or tablet, provides a user-friendly web interface compatible with Chrome, Firefox, or Safari web browsers. It allows various types of trading and investment activities and offers a consolidated view of portfolios, positions, and holdings across equity and mutual funds.
  2. 5Paisa Desktop Application Review: The Trade Station EXE, an installable trading terminal, caters to frequent traders seeking advanced tools. It provides real-time data and advanced charts for intraday analysis and historical stock prices.
  3. 5Paisa App (Mobile Trading App) Review: Regarded as one of the best mobile trading apps in India, the 5Paisa mobile app is user-friendly and accessible for small traders who prefer mobile trading. The app offers direct access to trading on NSE/BSE, as well as robo-research and advisory services on the go. Users can buy stocks, trade in stock and currency futures & options, and invest in mutual funds and bonds.
  4. 5Paisa Algo Trading Review: The Algo Trading feature automates trading orders based on predefined parameters such as time, price, and volume, providing users with an efficient and automated trading experience.

My Experience with 5Paisa Account Opening Process

I recently went through the account opening process with 5Paisa, and here’s a brief overview of my experience:

How to Open an Account with 5Paisa

The account opening process was seamless, conducted entirely online and in a paperless manner. I completed all the necessary documentation within a mere 15 minutes. After submitting basic information through the provided link, I received a prompt call from the 5Paisa account support team.

The team guided me through the process, although it’s user-friendly enough for self-completion. The essential documents required include a photograph, PAN card, Aadhar card, bank proof (personalized canceled cheque, passbook, or latest bank statement with IFSC and MICR code), income proof for derivatives (ITR, latest 1-month salary slip, or 6 months bank statement), and a specimen signature as per the PAN card on a white blank page. All these documents can be conveniently uploaded through the online portal.

I opted for Aadhaar-based document verification, which expedited the account opening process to less than 24 hours. Following the document upload, I had the option to select a plan, and I chose the Basic Plan as I did not opt for the “Smart Investor” feature. The registration fees were paid using Paytm, although other online payment modes are also available.

5Paisa Vs Zerodha Comparison

To provide a comparative view, here’s a quick comparison between 5Paisa and Zerodha:

Can Trade-in

– 5Paisa: Stocks, Equity F&O, Currency & Commodity F&O, US Shares
– Zerodha: Stocks, Equity F&O, Currency F&O, Commodity F&O, Bonds, and Govt-Securities

Brokerage Charges

5Paisa Basic Plan

– Equity delivery: Rs. 20 per executed order
– Equity, currency, commodity – Intraday & F&O: Rs. 20 per executed order
– Charges for Call and Trade: Rs. 100 per call
– Margin for Intraday: Up to 5X
– Account Opening Charges: FREE
– Demat AMC Fees: Up to Rs. 25 per month

Zerodha Plan

– Equity delivery: Rs. 0
– Equity, currency, commodity – Intraday & F&O: Lower of Rs. 20 per executed order or 0.03%
– Charges for Call and Trade: Rs. 50 per order
– Margin for Intraday: Up to 5X
– Account Opening Charges: Rs. 200
– Demat AMC Fees: Rs. 300

This comparison gives a glimpse into the brokerage charges and other key features of both platforms. It’s essential to consider individual preferences and trading needs when choosing between 5Paisa and Zerodha.

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