5 Paisa, a Mumbai based discount stock broker is part of India Infoline (IIFL). IIFL was incorporated in 1995, offering a wide range of financial products through over 1000 branches. 5 Paisa was founded in 2007 and launched a new brokerage model in late 2016. Online Trading, Online Mutual Funds, and Online Insurances are the different services provided by the company. 5 Paisa is a member of BSE and NSE and offers trading services under a simple brokerage plan. 5 Paisa offers two account types, one is Share Trading Account and the other is a Mutual Fund Account.
5 Paisa offers a free trading platform and cheaper brokerage plan of Rs.10 per executed order for Equity, currencies, futures, and options. 5 Paisa does not give any exposure in futures delivery trading but it provides up to 12 times exposure for intraday trading. In 5 Paisa you can get a free mutual fund account and trade with a fee of just Rs.10 per trade. 5 Paisa is provided with different trading platforms like Mobile Trading Platform, Browser Trading Platform, and Desktop Trading Platform. The Mobile trading platform helps in managing your account, creating own watch list and tracking your investments. The Browser trading platform is available in three different browsers Chrome, Firefox and Internet Explorer. In this platform, you can experience fast user interface to make speedy investment decisions. You can also transfer funds within a short time period by the use of Browser Trading platform. Finally, the Desktop Trading platform is an advanced trading tool. To make trading easier and faster it has multiple shortcuts. You can also custom Watchlist and get trading ideas in equity and derivatives.
Open a demat account in 5 Paisa
For the instant opening of the account just keep your Aadhar number, PAN number, and Cheque book nearby. You need to follow just 5 simple steps for opening the account.
- First, fill in your personal details and don’t worry it does not include large information. You just need to enter PAN number, Aadhar number, and date of birth and it will automatically extract all the details
- Next, enter your bank details like Account number and IFSC code.
- It is an important step of verification, you need to upload a Photo, Aadhar card and canceled cheque.
- Now you will be prompted to pay the account opening charges. Enter an amount you wish to start trading with and you will be redirected to the payment gateway.
- Finally, when you fill all the details you can have a form review and sign it digitally. Now the application process is complete and your account will be activated.