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5paisa is a discount broker backed by IIFL. The IIFL is a big brand name in the brokerage and financial Industry in India. If you are DIY “Do it yourself” kind of trader or investor, you can open your trading and demat account with 5paisa. The process of trading with 5paisa is completely online, so you don’t find many branch offices.
5paisa is providing free tools for your trading, it’s available in Desktop, Web and Mobile App version. Call and Trade facility is also available but bit costly compared to other mainline discount brokers. Account opening process with 5paisa is paperless, but due to changes in SEBI’s rules, you need to submit a signed copy of application form. Once your account opening process completes, you can start trading online. The company offers CNC, MIS, NRML, CO, BO, AMO and GTD order types. Fund transfer to and from your bank account is online.
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