How to Open Demat and Trading Account at 5Paisa? Last week, I received four different emails from Trade Brains’ subscribers asking about 5Paisa Review and how to open a demat and trading account at 5Paisa. Therefore, in this post, I’ve decided to write a synopsis of 5Paisa stockbroker and walk you through the complete step-by-step process to open a demat and trading account at 5 Paisa.
5Paisa is a discount broker that provides you the platform to trade in stocks, futures and options at the lowest cost of Rs 20 flat per trade (even if you trade for Rs 10 Crore). Currently, it is the second-biggest discount broker in India, after Zerodha.
It is headquartered in Mumbai and is a part of India Infoline (IIFL), a leading non-banking financial institution in India with experience of over two decades (initially incorporated in 1995). 5paisa was re-launched with new brokerage model for online retail broking services in late 2016. Later, it got de-merged from IIFL so that it can be listed on the stock exchanges. 5Paisa Capital started trading on NSE/BSE in November 2017, making it the first such listed financial digital marketplace.
5 Paise Capital provides a platform for all financial products including equities, derivatives, mutual funds, AIFs, bonds & debentures, insurance and personal loans. The account opening process for 5Paisa is totally paperless based on Aadhaar. It provides the trading facility in mobile, browser and desktop platforms.
Services offered by 5Paisa:
5Paisa offers multiple services in online trading, mutual funds investment, online insurance, and Robo advisory.
— Online Trading (Rs 20 Flat)
- Paperless & Instant A/C opening with Aadhar
- Zero Brokerage. Flat Rs 20 only per trade
- Trade in Equity, F&O and currency segment
- Trade from Desktop, Mobile & Web Platforms
— Mutual Funds (Instant & Free)
- Paperless process and Zero transaction fee
- Invest in easy monthly investments
— Insurance (compare & buy)
- Buy online & save big in Premium
- Term & health insurance
— Robo Advisory (Smart Investment Plan)
- A smart and fully automated advisor
5Paisa Mobile App
5 Paisa is the fastest and first discount broker to cross over 1 million mobile downloads. It provides you the facility to manage all your investments- Equity, Currency, Mutual funds, IPO, Insurance, NFO, FNO, NCD, etc -with just one power-packed app.
Account Opening Fees & Annual maintenance charges (AMC)
- Trading Account Opening Charges (One Time): Rs. 650 (Currently Waived)
- Account Annual Maintenance Charges (AMC): Rs. 400 per year
Trading Brokerage Charges
- Stock Intra-day Trades: Rs. 20 per executed order
- Stock Cash Delivery Based Trades: Rs. 20 per executed order
- Stock F&O Trades: Rs. 20 per executed order
- Currency F&O Trades: Rs. 20 per executed order
Advantages of Opening account at 5Paisa
- Paperless account opening using Aadhar Card within 5 minutes (sign application using e-Sign)
- Flat brokerage of Rs 20 for Equity Cash, F&O, and Currency derivative.
- Online Trading (Stocks, Futures & Options, and Currencies at NSE and BSE), Mutual funds and Insurance services under one roof.
- Free fundamental, technical and derivative research & financial advice to customers.
- Advanced and FREE technology-driven trading platforms across the web, desktop and app-based.
Disadvantages of 5Paisa
- 5Paisa doesn’t offer a 3-in-1 account (only demat and trading account available). You have to link your existing saving account with the 5Paisa account.
- They don’t offer commodity trading.
How to open a demat and trading account at 5paisa?
You can open a 2-in-1 demat and trading account at 5Paisa completely online (no paper documents required). The procedure is very fast if you have all the documents ready. As a matter of fact, you can complete the account opening process within 5 minutes.
For normal intraday and delivery trading, the only documents that you’ll require are the online copy of PAN Card, Aadhar Card and Cancelled cheque. Further, if you are also planning to trade in derivatives, then you’ll be required to submit your income proof.
The account opening process is based on Aadhar Card. Therefore, your mobile number should be mapped with your Aadhar card as you’ll receive an OTP to verify your account. Here’s the process to open your online demat and trading account with 5Paisa—
- Visit 5Paisa website using this link.
- Enter your personal details (Name, email, password etc).
- Select All In One (Trading + Investment Account) and click on ‘Open Trading + MF Account)
- Follow the simple six-step process to enter the details of your PAN CARD, Aadhar Card and bank details and complete the payment.
- After completing the online application, the online trading accounts get activated within 2-3 hours and you can start trading.
Quick Note: The Offline account opening process is also available where you can download the application form, print it, fill it up and send it to the 5paisa Mumbai office.
Overall, you should try the online account opening process, as it is really fast and straightforward.
5Paisa is the second biggest discount broker in India that provides you the platform to trade in stocks at the lowest cost of Rs 20 flat per trade. It provides you the facility to manage all your investments- Equity, Currency, Mutual funds, IPO, Insurance, NFO, FNO, NCD, etc -with just one power-packed app. The account opening process of 5Paisa is Paperless & Instant with Aadhar.
If you need any help to open your demat and trading account with 5Paisa, feel free to comment below. I’ll be happy to help. Happy Investing!