5paisa is Mumbai based discount stock broker offering trading, investment and advisory services to retail customers in India. 5paisa Capital Ltd is part of IIFL group (India Infoline), India's top financial service provider.
5paisa started offering its low-cost financial services in April 2016. Along with the stock and currency trading at BSE/NSE, 5 paisa also provide online Mutual Funds and online Insurance distribution. Note that 5paisa doesn't provide commodity trading and margin funding.
5paisa is a flat fee broker. They charge brokerage at fixed Rs 10 per executed order across the segments. Irrespective to the size of the trade, customer pays only Rs 10 brokerage. This is up to 95% less brokerage in comparison of traditional brokers.
In 1st year of is launch, 5paisa acquired over 7500 retail customers, which is very impressive in competitive discount brokerage space. 5paisa offers online paperless account opening which enables customer with Aadhaar card to open account and start trading online in just few hours.
5paisa depository services (or 5paisa demat account) is one of the key services offered by 5paisa. The 2-in-1 account offered by 5paisa includes a trading and a demat account.
Demat account holds shares, mutual funds, bonds etc. electronically, in a very similar manner where bank account holds money. The demat account allows customers to buy or sell the shares electronically without any paperwork.
5paisa is registered as a Depository Participant with Central Depository Services Limited (CDSL).
5paisa offers 2 demat account schemes:
To open a new demat account with 5paisa, customer has to pay demat account opening fee. Most share brokers also charge Annual Maintenance Charges (AMC). AMC is yearly fee charged to the customer to maintain the demat account with the broker. Find the 5paisa Demat Account Opening Charges and 5paisa AMC as below:
|1||Annual Maintenance Charges (AMC)||Rs 400|
|2||Debit Charges||0.025% (minimum Rs 25 per transaction)|
|4||Pledge creation||Rs 50|
|6||DEMAT - Per certificate||Rs 15|
|7||REMAT - Per certificate Per 100 Units/shares (Whichever is higher)||Rs 15|
|8||Conversion of MF units/Destatmentisation Per SOA||Rs 15|
|9||Reconversion of MF units in to SOA or Redemption/Restatmentisation Per SOA||Rs 15|
|10||Postal Charges per request shall be charged separately||Rs 40|
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