5paisa Review : Account opening and annual Charges | 2022

August 5, 2022July 15, 2023 admin 0 Comments

5paisa Review : 5Paisa is the one discount-only broker available in India which allows you to trading service for a flat rate of only Rs. 10. Thus, you just need be paying a one-time amount of Rs 10 for each trade regardless of the volume of your trade.

5paisa is one the most affordable discounted brokers available in India. If you’re a frequent trader, you could cut down to 95% in costs for brokerage.

How is 5paisa for Trading

5Paisa discount broker is great for trading with high value since you pay just Rs 10 per transaction regardless of the huge volume of trades. Lower brokerage costs result in a rise in profits.

5 Paisa is the only publically traded company in the discounted broking industry in India. You can trade in your 5paisa account

Stocks
Futures and Options
Currency F&O
Mutual Funds
Insurance Products

5Paisa App Annual Charges Details

5Paisa charge Rs. zero for trading and demat account opening.

For annual maintenance fees for trading 5paisa charges different fees for each accounts. There are however fees for the plan listed below:

Optimum Plan – No plan charges
Platinum Plan – Rs. 499 per month (Rs. 4,444 for the year)
Titanium Plan – Rs. 999 per month (Rs. 8,888 for the year)

Annual maintenance fees for Demat on different plans are listed below.

Optimum Plan – Rs. 45 per month of traded.
Platinum Plan – Free
Titanium Plan – Free

How to open an account through 5Paisa

The process of opening an account was entirely online and paperless. I was able complete all documentation in just 15 minutes.

I’ve submitted my basic details using the above link , and I received a phone call to their support for accounts.

You should receive a message from 5paisa upon the account is signed up. They assisted me through the process, however you are able to make it your own.

All you need is an electronic version of the below documents.

It is easy to take a picture of your documents on your mobile.

Documents needed (You can upload them at any time following the account has been created)

Photograph
Pan Card
Aadhar Card
Bank Evidence A personalized cancelled cheque, passbook or the most recent account statement from the bank (IFSC as well as MICR code are required)
Income Proof for Derivatives (ITR / The Latest 1 month salary slip/6 Months Bank Statement)
Signature of Specimen (As as per PAN card on white paper)

It is important to note that you don’t need to sign any documents in person when the mobile phone number you use is linked to Aadhaar Card. Aadhaar Card. Utilize Aadhaar authentication to establish the account in under 24 hours.

After uploading all of your documents, you’ll be presented with the choice to choose the option to choose the.

5Paisa Web Interface Review

5Paisa Trader Station is a trading site that you can access with any browser that is available using a laptop, computer or tablet. You can access the 5Paisa web interface with Chrome, Firefox or Safari web browsers.

You can conduct all types of investment and trading on 5Paisa Trade Station.

You can view a comprehensive overview of your portfolio, investments and positions across equity and mutual funds.

5Paisa Desktop Application Review

Trade Station EXE is an easily installed trading terminal that is ideal for traders who are frequent and require sophisticated trading tools. It provides real-time information and advanced charts for both past and intraday price comparisons.

What I like about 5 Paisa

Good Things

Paperless and fast opening of accounts
Great customer care Support
Cheaper & fix brokerage charges (no complexity)
Fantastic trading platform for trading
What I didn’t love about 5 Paisa

Bad Things

Making trades by phone can be very expensive, costing at least Rs. 100/call (optimum option).
A few traders experienced server issues during high traffic times of trading.

5Paisa App (Mobile Trading App) Review

5paisa’s mobile application is among the top mobile trading apps available in India in comparison to other mobile apps for stock brokers.

If you’re a smaller trader looking to conduct trading from your phone, you should look into 5paisa’s mobile app. It is easy to access to functions, and provides a great user experience.

Reviewed Spot