5Paisa App Review 2023: Features, Charges, Demat Account, Complete Guide

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5Paisa App Review 2023: 5Paisa is one of the leading discount brokers in India, offering a wide range of trading and investment products and services. The 5Paisa app is a powerful trading platform that allows users to trade stocks, commodities, currencies, and mutual funds.

In this blog post, we will take a comprehensive look at the 5Paisa app, covering its features, charges, and how to use it. We will also compare it to other popular trading apps, so you can decide if it is the right choice for you.

What is 5Paisa Mobile App?

5paisa.com is a budget-friendly financial service provider that offers online trading, mutual funds, and insurance with competitive brokerage rates. They have a straightforward brokerage model, charging a flat fee of Rs 20 per order for trades across all segments, including Equity Delivery, Intraday, F&O, and Currency Derivatives.

FeatureDetails
Name5paisa
TypeDiscount broker
Founded2016
HeadquartersMumbai, India
RegulationSecurities and Exchange Board of India (SEBI)
Trading platformsWeb, mobile app, desktop app
Products and servicesStock trading, currency trading, mutual fund investment, IPO subscription, personal loans, insurance products
Brokerage chargesFlat Rs. 20 per order for equity delivery, intraday, and F&O segments
Demat account chargesRegular (Non BSDA) Account: Rs. 100 per year; BSDA Account: Rs. 0 per year (for holding up to Rs. 50,000)
Customer support24/7
ProsLow brokerage charges, variety of trading platforms, comprehensive research library, technical analysis tools, 24/7 customer support, member of BSE and NSE, regulated by SEBI, BSDA Account with lower AMC for small investors
ConsResearch and advisory services are not as comprehensive as some competitors, customer support can be slow at times

5Paisa Features

5paisa offers a wide range of financial services, including:

  1. Stock trading in equity delivery, intraday, and F&O segments.
  2. Currency trading in the F&O segment.
  3. Mutual fund investments, including the option to invest through a Systematic Investment Plan (SIP).
  4. Robo Advisory, which is a fully automated investor advisory system.
  5. Management of Demat accounts.
  6. Management of Trading accounts, including online portfolio management and order tracking.
  7. Real-time, streaming quotes for all market segments.
  8. Advanced charting tools for technical analysis.
  9. A user-friendly and intuitive interface suitable for both experienced investors and traders.

5Paise Disadvantages

  • Promotions for life insurance, SIP, and other products in the mobile app.
  • Frequent log-offs, causing inconvenience to users.
  • Online paperless account opening process often doesn’t work effectively for most users.
  • Rs 100 charge for call & trade, regardless of whether the mobile application is down or not functioning.
  • Lack of support for multiple watchlists, limiting user flexibility.

5Paisa Charges

5paisa charges has been listed below:-

5Paisa Demat Account Charges

TransactionCharges
Demat Account Opening ChargesRs 0 (Free)
Transaction Charges (Buy)
Transaction Charges (Sell)Rs 12.50 per transaction per script
Annual Maintenance Charges (AMC)Rs 300 per year
Demat + Courier chargesRs 15 per certificate + Rs 40 as postal charges
RematRs 15 per certificate or Rs 15 for every 100 securities or part thereof, whichever is higher + Rs 40 for courier
Pledge CreationRs 12.50 per scrip for Margin pledge. Rs 25.00 per scrip for MTF. Rs 50.00 per scrip for Normal pledging charges (Loan Against Shares)
Pledge Creation ConfirmationNil
Pledge InvocationNil
Failed TransactionsNil
Other ChargesPostal Charges: Rs 40

5Paisa Trading Charges

Tax TypeRates
Securities Transaction Tax (STT)
Equity Delivery0.1% on both Buy and Sell
Equity Intraday0.025% on the Sell Side
Equity Futures0.01% on the Sell Side
Equity Options0.05% on Sell Side (on Premium)
Commodity Futures0.01% on the sell side (Non-Agri)
Commodity Options0.05% on the sell side
Currency F&ONo STT
On Exercise transaction0.125%
Right to entitlement0.05% on sell side
Exchange Transaction Charges
Refer table above
GST18% on (Brokerage + Transaction Charge + SEBI Fee)
SEBI Charges0.0001% (₹10/Crore) of the turnover (except for Agri futures where it is Rs 1 per crore)
Stamp Duty(On buy side only) Delivery: 0.015%, Intraday: 0.003%, Equity Futures: 0.002%, Equity Options: 0.003%, and Currency F&O: 0.0001%. Commodity Futures: 0.002%, Commodity Options: 0.003% (MCX)

5Paisa Brokerage Charges

PlanSegmentMonthly Fee (Fixed)Brokerage Fee per Executed Order
5paisa Standard PlanEquity DeliveryNARs 20
Equity IntradayNARs 20
Equity FuturesNARs 20
Equity OptionsNARs 20
Currency FuturesNARs 20
Currency OptionsNARs 20
Commodity FuturesNARs 20
Commodity OptionsNARs 20
5paisa Power Investor PackEquity DeliveryRs 599 per monthRs 10
Equity IntradayRs 599 per monthRs 10
Equity FuturesRs 599 per monthRs 10
Equity OptionsRs 599 per monthRs 10
Currency FuturesRs 599 per monthRs 10
Currency OptionsRs 599 per monthRs 10
Commodity FuturesRs 599 per monthRs 10
Commodity OptionsRs 599 per monthRs 10
5paisa Ultra Trader PackEquity DeliveryRs 1199 per monthRs 10
Equity IntradayRs 1199 per monthRs 10
Equity FuturesRs 1199 per monthRs 10
Equity OptionsRs 1199 per monthRs 10
Currency FuturesRs 1199 per monthRs 10
Currency OptionsRs 1199 per monthRs 10
Commodity FuturesRs 1199 per monthRs 10
Commodity OptionsRs 1199 per monthRs 10

These are the brokerage charges for different segments and plans offered by 5paisa in 2023. Click to Calculating brokerage charges

What is 5Paisa Demat Account?

5paisa, a Mumbai-based discount stock broker, has been serving retail customers in India since its launch in April 2016. They offer a range of financial services, including stock and currency trading at BSE/NSE, online Mutual Funds, and online Insurance distribution.

5paisa app
5paisa app

Key points of 5paisa Demat Account:

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  • 5paisa operates on a flat fee brokerage model, charging a fixed Rs 20 per executed order across all segments, regardless of the trade’s size. This significantly reduces brokerage costs compared to traditional brokers.
  • In its first year of operation, 5paisa acquired over 7500 retail customers, a remarkable achievement in the competitive discount brokerage space.
  • 5paisa provides online paperless account opening, allowing customers with an Aadhaar card to swiftly open an account and start trading online within a few hours.
  • The 5paisa depository services include a 2-in-1 account, which combines a trading account and a demat account. The demat account holds electronic assets like shares, mutual funds, and bonds, facilitating seamless electronic trading without the need for paperwork.
  • 5paisa is registered as a Depository Participant with Central Depository Services Limited (CDSL), with the following details:
  • DP ID (CDSL): 12082500
  • DP Name: 5paisa Capital Ltd
  • CDSL Member Since: January 2016
  • 5paisa offers two demat account schemes:
  1. Regular (Non-BSDA) Account
  2. BSDA Account, which incurs no Annual Maintenance Charges (AMC) if the holding value in the Demat Account is up to Rs 50,000. For holdings between Rs 50,000 to Rs 2,00,000, an AMC of Rs 100 is charged.

How to open 5paisa account online?

Opening an account with 5paisa is quite simple, and they offer two types of accounts:

  1. 2-in-1 Account (Trading + Demat Account): This account is for those interested in trading stocks or derivatives.
  2. Mutual Fund Investment Account: If you’re solely interested in investing in Mutual Funds, you can open this type of account.

Steps to open an account with 5paisa:

Step 1: Visit the Website Go to the 5paisa website to begin the account opening process.

Step 2: Fill the Online Form Complete the online account opening form. You’ll need to provide your personal details, including your PAN number, date of birth, and Aadhar number. Most of your other information will be automatically retrieved from the eKYC database, simplifying the process.

Step 3: Provide Bank Details Enter your bank details, including your account number and IFSC code.

Step 4: Upload Documents Upload essential documents such as your photo, Aadhaar card, and a cancelled cheque.

Step 5: Make Payment You’ll be prompted to pay the account opening charges. Additionally, you can specify the amount you intend to start trading with. A payment gateway will facilitate the transaction.

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Step 6: E-sign Your Form Review the entire form to ensure accuracy and then digitally sign it. If you don’t have an Aadhar card, you’ll need to physically sign the forms, which can be printed and sent via courier.

5paisa customer care number

When it comes to your financial journey, having access to reliable customer support is crucial. 5paisa understands this, and they offer various channels to assist you with your queries and concerns. Here’s how you can get in touch with them:

Raise a Ticket: If you have specific questions or issues, you can raise a ticket through their support system. This allows you to track the progress of your inquiries.

View Tickets: You can also view the status and updates of your raised tickets to stay informed about the resolution process.

FAQ: For common questions and quick answers, check out their Frequently Asked Questions section, which can be a valuable resource.

SEBI Complaint Redress System (SCORES): If you need to file a complaint related to SEBI (Securities and Exchange Board of India) matters, you can utilize the SCORES platform for efficient redressal.

Email: Depending on the nature of your query, you can reach out to the following email addresses:

Location: If you prefer in-person assistance or need to visit their office, you can find 5paisa at the following location:

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  • Sun Infotech Park, Road No.16V, Plot No. B-23 Thane Industrial Area, Wagle Estate, Thane – 400604.

Mobile: For direct contact, you can reach them at +91 89766 89766.

5Paisa vs Angel one

Feature5paisaAngel One
Brokerage chargesFlat Rs. 20 per order for equity delivery, intraday, and F&O segmentsFlat Rs. 20 per order for equity delivery and intraday segments; Rs. 25 per order for F&O segments
Demat account chargesRegular (Non BSDA) Account: Rs. 100 per year; BSDA Account: Rs. 0 per year (for holding up to Rs. 50,000)Regular (Non BSDA) Account: Rs. 100 per year; BSDA Account: Rs. 0 per year (for holding up to Rs. 2 lakh)
Research and advisory servicesBasic research and advisory servicesMore comprehensive research and advisory services
Customer support24/724/7
Trading platformsWeb, mobile app, desktop appWeb, mobile app, desktop app
Other featuresRobo-advisory service, paperless account openingIPO subscription facility, margin trading

Also Read: Motilal Oswal App Review 2023: Is Motilal Oswal Reliable?

How to close 5paisa account?

If you have a 5paisa all-in-1 trading account and you haven’t used it for 6 months, it can become dormant. You can reactivate a dormant account by contacting 5paisa.

However, if you’re a 5paisa customer and you’re no longer using the account or have switched to another stockbroker, it’s advisable to close the account to avoid Annual Maintenance Charges (AMC) and the need to maintain a minimum balance. Closing the account also reduces the risk of someone else misusing it.

Steps to close your 5paisa account:

  1. Download the Account Closure Application Form from 5paisa’s website.
  2. Fill out the form, sign it, and send it to the Mumbai office via courier.
  3. After 5paisa receives your application for account closure, it may take up to 2 working days to complete the process. You will receive email notifications with updates on the account closing procedure.
  4. Make sure to clear all balances in the account before closing it. Failure to do so can result in delays in the closure process.
  5. It’s important to note that 5paisa does not charge any fee for closing your account.

By following these steps, you can efficiently close your 5paisa trading account when needed.

FAQs

Q. Who is the CEO of 5paisa?

The current CEO of 5paisa is Narayan Gangadhar. He took over as the CEO in 2021.

Q. Is 5paisa a safe app?

Yes, 5paisa is a safe app. It is a regulated broker by the Securities and Exchange Board of India (SEBI). This means that it is subject to strict regulations and oversight

Also Read: Angel One App Review 2023: Is Angel One Safe?

Conclusion: 5Paisa App Review

5paisa is a discount broker that offers a variety of trading and investment products and services to investors in India. It is one of the leading discount brokers in India, with over 3 million customers.

5paisa offers some of the lowest brokerage charges in the industry, starting at just Rs. 20 per order. It also offers a variety of other features, such as a comprehensive research library, technical analysis tools, and 24/7 customer support.

Overall, 5paisa is a good option for investors who are looking for a low-cost way to trade stocks and invest in mutual funds. However, it is important to do your own research before opening an account with any broker.

pros and cons of 5paisa:

Pros:

  • Low brokerage charges
  • Variety of trading platforms
  • Comprehensive research library
  • Technical analysis tools
  • 24/7 customer support
  • Member of BSE and NSE
  • Regulated by SEBI
  • BSDA Account with lower AMC for small investors

Cons:

  • Research and advisory services are not as comprehensive as some competitors
  • Customer support can be slow at times
5/5 - (2 votes)
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