About 5paisa Demat Account
5paisa is part of the IIFL group (India Infoline), India’s leading financial services company. It was relaunched with a new brokerage model for online retail broking services in late 2016.
5Paisa Demat Account is offered by the most popular Discount brokerage house 5Paisa. It changed the trading environment in the country with its innovative products and investment solutions.
The 5Paisa is one of the premier discount brokerage houses and they have crafted their niche with their highly advanced trading platforms. Moreover, It offers a variety of investment options at very cheap prices.
Types of Accounts offered by 5paisa
- All in one account, which includes a 2-in-1 account (Trading + Demat Account) + Free Mutual Fund account.
- Mutual Fund Investment Account – If you don’t have time to do deep research in the equity segment, the best option for you is to invest in mutual funds. 5paisa offers a free online mutual fund account, where you can invest in direct mutual funds, SIP, STP. To invest in a direct mutual fund 5paisa charges Rs10 per transaction, for investment in the regular plan 5paisa, don’t charge any fee, it’s FREE.
To invest in stocks or trade-in stock or derivatives with 5paisa, an individual has to open a 2-in-1 account including a trading account and a Demat account. If you are only interested in investing in Mutual Funds, you could open a 5paisa Mutual Fund Account.
5Paisa Trading Account
The 5Paisa Trading Account is necessary for trading with 5Paisa and you get ample investment options for trading using this trading account.
Apart from that, here are some benefits of using 5Paisa Trading Account –
- It is necessary for trading shares. It is the account with which you buy, sell, cancel and do other activities required for trading stocks and other investment instruments.
- It’s useful for trading mutual funds as well. With the 5Paisa Trading account, you can trade mutual funds using this one trading account.
- 5paisa gives you all the information about your stock holdings, positions, margin money balance, and other details.
- There are no charges for the maintenance of this 5Paisa Trading account.
5paisa Account Opening
5paisa’s 2-in-1 account (Demat + trading account) gives its customers an option to invest and trade in the stock market and in mutual funds. If you are looking for only Mutual Funds as investment options, a separate Mutual Fund Account is available.
5paisa offers a completely paperless account opening based on Aadhaar. If you have an Aadhaar number, then they map your Aadhaar number to the correct mobile number, the account opening process is really fast. After completing the online application, online trading accounts get activated in a few hours.
Additionally, You could also download the application form, print it, fill it up and send it to the 5paisa Mumbai office.
5 Steps to open 5paisa account
- Fill in your Personal details just fill in your PAN number, Date of Birth and Aadhar number. They pull all other details from the eKYC database, so can just verify it.
- Fill in your Bank details, enter your Account Number and IFSC.
- Upload your Documents, upload your Photo, Aadhaar Card and Cancelled Cheque.
- Make Payment, it will prompt you to pay towards your account opening charges. Also, you can enter an amount you wish to trade with. It will redirect you to a payment gateway where you can make payment.
- E-Sign your form, Once you have filled all the details, you can review the complete form and sign the form digitally. Your application process will be complete. If you do not have an Aadhar physical signature will be required.
5paisa was launched in the year 2007 and as on date serves over 7,500 retail customers. It has targeted to gain around 50,000+ customers in the current fiscal period.
The customer base is entirely new and is not acquired from IIFL. The broking house is in the process of emerging from IIFL and is also in the process of getting listed on the stock exchanges.
5paisa has planned to commence trading in commodities and to offer personal loans soon. It also intends to include funding products like IPO, NCDs, etc.
|Trading Segment||Brokerage Charges|
|Equity Delivery Trading||Rs.10|
|Equity Intraday Trading||Rs.10|
|Commodity Options Trading||N/A|
|Equity Futures Trading||Rs.10|
|Equity Options Trading||Rs.10 per Lot|
|Currency Futures Trading||Rs.10|
|Currency Options Trading||Rs.10 per Lot|
|Demat AMC Charges||400 per Annum|
|Trading AMC Charges||Free|
|5Paisa Benefits or Advantages|
|Offers mutual funds and insurance|
|User-friendly trading platforms|
|Has a very competitive brokerage rate|
|Has an advisory system for guiding investors on what MF to opt for and what amount to be insured etc.|
|Does not offer commodity trading|
|Advisory is mainly from robotic tools and hence is very algorithmic|
The 5Paisa Demat Account is really beneficial for the traders who trade in bulk. As the brokerage charges are very low and there are ample of features offered by Demat and Trading account of this discount broker.
You can open the Demat account with few simple steps and there is no paperwork involved in the process. And then you can start trading with it without any hassle.