5Paisa is an online discount broking company of IIFL (India Infoline Limited) established in the year 2015. Although it is relatively a new player in the industry, it is already into three financial domains including Online trading, Insurance, and Mutual funds.
Within stock broking, it allows trading within NSE, BSE & MCX-SX exchanges through its membership with the respective exchanges.
With its roots from India Infoline, the discount broker has a huge advantage when it comes to industry know-how, dynamics, customer behaviour and so on. And that is why 5Paisa provides you research tips and recommendations for technical and fundamental analysis as well.
The discount broker claims to have a turnover of ₹1200 Crore every day on the stock market through its clients.
"India Infoline or IIFL has invested ₹100 Crore into its discount broking arm 5Paisa recently. The discount broker has been listed as an individual entity at BSE and NSE in 2017 and works as a separate broker now."
Very recently, 5Paisa has been listed at BSE and NSE making it the only discount stock broker in India to be listed on the stock market. The broker looks to expand its client base to 50,000 by the next 12 months. Out of the current client base, 60% come from smaller cities i.e. tier 3 or tier 4 of India.
Furthermore, IIFL, its earlier-parent company, will be investing ₹100 Crore into this discount stock broker.
For the past 1 year or so, 5Paisa has witnessed a quarter-on-quarter growth of 100% in turnover.
All these facts seem promising for sure.
The million dollar question, however, is whether 5Paisa will able to leverage these benefits?
Coming back to the review, they allow you to trade in the following segments:
Thus, in a sense, it offers a wide range of trading and investment products for clients. And, as a discount stock broker, it is one of the rare USPs for sure.
"5Paisa plans to add 50,000 clients by the fiscal year 2017-18: Prakarsh Gagdani"
5Paisa Trading Platforms
Pretty much in line with some of the other discount brokers, 5Paisa also provides trading through Desktop, Browser, and mobile based applications. However, what differentiates it from the rest are the unique features these platforms provide over the rest. Here are the details:
5Paisa Trading & Robo Advisory is first of its own kind of a mobile app that provides Online trading as well as Robo advisory services within the same app. This mobile app is pretty exhaustive when it comes to the usability or the number of features.
The management of this discount stock broker claims that 70% of the transactions done every day happen through this mobile app, giving an idea of the robustness of the mobile app.
This app allows the users the following features:
- All in one account (Trading + Investment)
- Access Mutual Fund
"You can access the mobile app of 5Paisa with demo user id and password. Get in touch with Us for you to provide you with the credentials."
- Auto Investor feature allows you to choose from different plans such as Save Tax, Investment for a specific goal, Starting a SIP or Invest liquid cash.
- Get Live Quotes and place order for Insurance
- Live NSE & BSE market Quotes
- Advance Charting and Multi-asset Live Watchlist for better analysis
- Provides decent Performance or order execution speed.
To check out the complete review of 5Paisa Mobile App, you can click on this link.
"All the trading platforms from 5Paisa provide a unique proposition to trade in the stock market to go along with a provision to invest in Mutual Funds as well as Insurance."
The browser trading platform from 5Paisa is a cloud-based application available on selected browsers i.e. Chrome, Internet Explorer and Mozilla Firefox only. The platform lets you invest in Mutual Funds as well apart from other financial instruments. The application is known for fast execution time and seamless user experience.
To access this application, the user just needs to go to the official website of the discount broker, click Login, enter username and password and get going with their trading.
5Paisa Trade Station offers you the following features:
- Multiple order types offering flexibility to the user.
- Intraday as well as historical data available for technical and fundamental analysis respectively.
- Provision to invest in Mutual funds and Insurance segments.
- Provides research tips and calls to make quick judgments.
To check out the complete review of 5Paisa Trade Station, you can click on this link.
Users are allowed to create a demo account for themselves to get an idea around the performance and user experience of the application.
The desktop trading application is called 'Trader Terminal' and it provides an exhaustive list of features, including:
- Second Level Authentication brings in a high amount of security so that users can transact and trade without any security breach concerns.
- The application provides a consolidated view of user's portfolio along with access to all trade reports, charges & bills.
- Interactive charting tool that provides real-time indications about the market trends and behaviour
- With Market-watch, users can get updates on Real-time accurate scrips
- Highly usable and easy to use user interface
- Users can buy and sell using the same integrated window
To check out the complete review of 5Paisa Trade Terminal, you can click on this link.
5Paisa Auto Investor is a web-based robo-advisory mechanism offered by the discount broker to its clients. Users can provide their requirements for return expectations, risk appetite, investment spread etc and based on these preferences, personalized recommendations on investment classes along with capital segregation and return period are provided back to the user.
With this system in place, the angle of human error goes out of the window and you can get recommendations based on data points and in fact, get your portfolio monitored for future movements.
5Paisa School or 5P School is an initiative from the discount stockbroker towards stock market education for all kinds of traders, be it - beginners, intermediate or expert level traders. The whole portal provides different modules on topics such as:
- Technical Analysis
- Mutual Funds
- Trading Psychology
Apart from that, there are various videos and blogs that are written and updated on a regular basis. This helps you understand the intricacies and techniques of trading and investment at different levels.
Furthermore, the portal is free to use and does not even require user login to access.
5Paisa Customer Service
5Paisa offers multiple communication channels to its clients for customer service. These channels include:
- Social Media
- Play Store
The number of communication channels in case of 5Paisa is certainly limited and the quality of service in terms of turnaround time can also be improved. At the same time, it is a discount broker and customer service is not really a top USPs of these kinds of brokers. However, the discount broker does better than an average job as compared to most of the discount stock brokers in India.
Not only support, the broker tries to educate its users through trading and investment tutorials and blogs on its website.
"5Paisa maintains a financial blog for its users that gives an idea towards the happenings in the stock market with the point of view of the broker."
5Paisa Account Opening Charges
There is an account opening charge of ₹250 if you are looking for both trading and demat account. For transacting in commodities, there is no account opening charge involved.
There is also a yearly maintenance charge of ₹400 for individuals and INR 1000 for non-individual entities. Although it might seem a little expensive, with the kind of service the broker provides, it can be termed as a value-for-money service provider.
For more information, you can check out the complete 5Paisa Review