5paisa Brokers Review

5Paisa is a discount stock broker based in Mumbai. 5Paisa aims at providing online trading services at discounted prices. It was re-launched with a new brokerage model in 2016 an as of April 2018, claims to have more than 1 million users on its Mobile app. 5paisa provides the following services:

  • Online trading
  • Online mutual funds
  • Online Insurances

Overall Summary

 

LIKES

  • 5paisa charges cheapest brokerage rates, that is, Rs.10 per executive order.
  • Access to numerous trading and investing products.
  • 5paisa has a research team which works to provide quality research and tips to its customers.
  • It has made investing in IPOs, mutual funds and insurance easier.
  • Offers technologically advanced trading platforms including mobile apps and web browsers.

DISLIKES

  • Do not offer fixed monthly or yearly plans for brokerage.
  • Service can be average as turnaround times get higher at a few times.

COMMISSIONS AND FEES

5PAISA ACCOUNT OPENING FEE

5PAISA BROKERAGE CHARGES

5PAISA TRANSACTION CHARGES

LEVERAGE GIVEN BY 5PAISA

RESEARCH 

5Paisa is a discount stock broker based in Mumbai. 5Paisa aims at providing online trading services at discounted prices. It was re-launched with a new brokerage model in 2016 an as of April 2018, claims to have more than 1 million users on its Mobile app. 5paisa provides the following services:

  • Online trading
  • Online mutual funds
  • Online Insurances

5Paisa Robo Advisory

Since there are numerous mutual funds available in the market it becomes complicated to select a few among those for a beginner or not so expert trader. Hence, 5Paisa introduced robo advisory which full automated investor advisory system. It provides advices according to your answers given when asked questions.

The technologically advanced robo advisory system provides tips and advices at a lower cost.

Platforms & Tools

5PAISA MOBILE APP

5Paisa has launched its own mobile app that focuses on online trading and robo advisory services. This mobile app provides all in one trading account and access to mutual funds to its users. Live NSE and BSE market quotes are displayed in the app by providing an auto investment feature that permits the users to choose from different plans such as Save Tax, starting a SIP etc. In addition, users get to analyse better with the help of advanced charting and multi-asset Live watchlist.

FEATURES:

  • The mobile app provides various technical and fundamental analysis features such as charts types, indicators, heat maps and much more.
  • Users are allowed to add scrips in watchlists according to their preferences.
  • Quick access to information regarding stock market, market mover, gainers, losers etc. for the last 1 year.
  • Users can explore various mutual funds and can select a particular SIP to invest within the app itself.
  • Users can get basic information, company background, charts etc. of particular stocks just by entering the scrip name.

DISADVANTAGES

  • Loading of charts can sometimes take time.
  • Users are not allowed to trade in commodity segment.

5PAISA TRADE STATION

5Paisa has introduced a browser-based trading platform which is a cloud-based application and is available only on Google Chrome, Internet Explorer and Mozilla Firefox. You can invest in financial instruments and mutual funds as well through this platform. You can access to intraday and historical data to make use of technical and fundamental analysis for trading. This platform deals with flexibility by providing multiple order type to its users.

FEATURES:

  • Users can place multiple types of orders through the trade station.
  • Users can perform detailed technical and fundamental analysis with charting functionality and technical indicators at an intraday level and historical data of the last 20 years as well.
  • By mentioning particular details and placing the order online, users can initiate SIP for mutual fund investments.

DISADVANTAGES

  • Loading of charts can sometimes take time.
  • Using it in a mobile or tablet may get troubling.

5PAISA TRADER TERMINAL

The desktop trading application offered by 5Paisa is Trader Terminal. The desktop application has many features:

  • Through second level authentication, security in online trading and transactions is ensured.
  • Users can view their portfolio and have access to all the reports, charges and bills.
  • Real-time market trends and changes are well conveyed to users through interactive charting tools.
  • Users can place multiple types of order type such as cover order, aftermath orders etc.

DISADVANTAGES

  • This does not allow integration with third parties.
  • Since it is new in market, it does not hold some advanced features.

CUSTOMER CARE

5paisa provides the following communication channels through which customers can contact:

  • Email
  • Phone
  • Social media

Customer service provided by 5Paisa seems to be average. However, customers can use the phone when quick responses are needed.

Phone :+91 89766 89766
Email: support@5paisa.com


Moreover, customers who have specific complaints are free to contact the grievance officer of 5 Paisa:

  Name- Nirav Shah 

 Email- compliance@5paisa.com

 DP concerned issues and complaints can be conveyed at dp.grievance@5paisa.com

General trading concerned problems can be talked through via email at grievance@5paisa.com

 

EDUCATION

5paisa has introduced an education portal called 5Paisa School to enhance and spread knowledge about stock markets to very kind of investors; beginner, intermediate or experts. This portal is free of cost and is accessible to any person.

5paisa School provides text articles and modules for traders to learn, as well as it includes video tutorials, stock market glossary, trading articles and much more than can make learning interesting and better.

There are various topics covered by them such as Equity, Technical analysis, mutual funds etc. along with regular blogs and videos.

5Paisa School Modules

Equity

This module discusses how Indian stock market works and the fundamentals of equity. Further, it talks about trading in the stock market. This module also focusses on basic of fundamental analysis and assisting investors in long term investments. Further, basic concepts of how to read financial statements, ratios and other important concepts of the stock market are added.

Technical analysis

This module is related to technical analysis and how to perform technical analysis in order to make profits in the short term or intraday trading. This module works great for intraday traders looking to learn how to perform basic technical analysis. It focusses on many aspects of technical analysis such as understanding different charts, technical indicators and how to read charts and patterns.

Mutual Funds

This topic is concerned with the use and concept of mutual funds as investments. The topics covered include SIPs, SWPs, STPs and how to utilize these in the best possible way.

Mutual funds investments are for a longer period and involve huge investments options which make selection process complex. Thus, this module discusses the selection process in detail and how to supervise mutual fund investments.

Derivatives

The types of derivative products such as futures, options, and forwards are discussed in this module. Also, focuses on different option strategies by providing easy and relevant examples.

Trading Psychology

Traders’ psychology during trading and investing is deeply discussed in this module. Traders go through false hopes, greed, emotions and much more during the trading process and analysis. Thus, it concerns how to get rid of those biases and place trades.

OTHER NOTES

You can open 5paisa Demat account in 7 easy steps.

  1. To start, you are required to put in your basic details in the form provided on the website. These detail will be further used in the verification process, so make sure those are entered correctly. Once that is done, you will be directed to a login page to continue further.
  2. Next step involves mentioning the type of account you want. There are 2 types of account you can choose from-
  • Mutual fund investment account– Through this account, you can invest in mutual funds with no transaction fee involved.
  • All in one trading and investment account– In this account, you can invest in equities, currencies, commodities, derivatives segments and commodities
  1. After the selection of an account you want, you need to enter your valid PAN card number and DOB. Once you click on ‘save and Continue’, a page to enter you Aadhar Card details will be on your screen.
  2. Now you will be asked to mention your personal details- address, contact information etc.
  3. Thereafter comes your Bank account Details, namely IFSC code and Account Number. Your bank account is used in the process of transfer of funds etc, make sure the details entered are valid and correct.
  4. In this step, some important documents need to be uploaded-
  • PAN Card
  • Address proof- Passport, aadhar card, telephone bill, Voter identity card etc
  • Bank Proof- canceled check or bank statement
  • Income Proof
  • Signature
  1. The last step in the account opening process is PAYMENT. Payment of Rs. 650 is to be made in order to complete the process

 FINAL NOTES

5paisa, without any doubt, is leading in one of the most favourable discount brokers in India. It provides low brokerage, high tech trading platforms, tips, and recommendation and thus leads in offering more than value for money services to its customers.

5Paisa may suit well the needs of beginners, small and medium level investors and can assist you in the trading process.

However, customer service still remains the problem for 5Paisa, it could offer average services. Hence, it should focus more on developing its customer care and services.