Rated 4/5 based on 26 customer reviews
5paisa – the Opening account is smooth, you need to provide soft copy of PAN, Aadhar, Latest Photo, Cancelled check, Bank Statement and a copy of your signature and sales team will take care of your account opening process. The company is using IIFL branch office to collect the form, so there is around 28 form collection center in India, where you can use form pick up facility. You can courier your form to 5paisa office and up to 75 rs of courier charge will be refunded by 5paisa account opening team.
For account opening charges, you can pay via check, net banking or PayTM transaction. Once 5paisa sales team receives all documents after verification, your account will be activating in 24 hrs.
Trading with 5paisa possible via mobile app, desktop terminal, and web based platform. You need to fund your trading account via the payment gateway, NEFT/RTGS or UPI payment mode and start trading from day one. The company doesn’t provide commodity trading, but a free mutual fund investment account will be open on day one so you can start investing in MF. IPO investment can be done via ASBA, using 5Paisa Client DP ID.
“Guru Mantra of 5paisa” is to Trade, Invest and insure under one umbrella. For Trader, the brokerage is excellent, but the company is missing on margin/leverage policy. The 5paisa is offering free mutual fund account with your trading and demat account, which is towards his focus on Investment and to engage users in other services offered by the company. Trading terminals and tools – average, Missing Cover orders and bracket orders features with high leverage to traders. In summary, 5paisa need to come out with traditional brokerage house mentality and invest/focus in technologies and improve margin/leverage policy.
To open a new trading account with 5paisa, Please provide your contact details and 5paisa representative will connect you ASAP to explain the process. As opening a new account with 5pasia is a paperless process (on your choice, you can opt for form base application also), so with the guidance of 5paisa representative, you will be directed to next steps.
5paisa is not giving any special offer except free mutual fund account opening. Which we assume is any way free.
5paisa promo code/promo coupon/Promotion Offer - Account opening fee or Rs 650 reversal when maintain 50,000 Rs for 30 days. The fund must be deposit in 10 days of account opening and can be used for trading. The Withdrawal of the fund is not allowed for 30 days to entitled for this scheme. Minimum one trade is mandatory to participate. For HUF 1,00,000 Rs with the same terms and conditions.
Cash reward on each account opening up to Rs 555 or 10% brokerage cash back for life.