5Paisa Account Opening

5Paisa Account Opening process is rather straightforward for the simple reason that most of the stockbrokers, including 5Paisa, have set up respective online procedures to open a demat account.

In this quick, review, we have tried to cover the way this stockbroker allows to do that.

But, before that, let’s have a quick understanding of this discount broker.

5Paisa is one of the most evolving discount stock brokers in India if we talk about the recent past. Handling itself as an independent entity since its separation from IIFL in the year 2017, the discount broker has been able to bring in values such as:

• High-performance trading platforms
• One of the lowest brokerage charges at ₹10 per executed trade (check 5Paisa Brokerage Calculator)
• Free research and tips
• 5Paisa Free Demat account
• For the first five trades, 5Paisa brokerage is zero. Thus you can reap the benefit of free trading.

Like a few of the other technologically “aware” stock brokers in India, 5Paisa also allows you to open your demat account online.

Also, since the broker is registered with the top stock exchange you can now streamline the account opening process by knowing how to open BSE account and NSE account.

5Paisa Registration

The whole process is segregated into 5 steps and you can complete the whole procedure within 5 minutes assuming you have all the required documents handy.

The 5 steps include:-

• Enter your Pan card and bank details
• Fill in all the required personal details
• After this, you can choose a pricing plan. (basic plan, 5Paisa power investor pack, and ultra trader pack 5Paisa)
• Upload the desired Documents
• IPV and E-sign Form

Let’s move ahead and talk about the different steps involved in getting your 5Paisa Demat account opened. Here are the details:

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5Paisa Account Opening Form

First and foremost, you are required to enter your basic details on the form below.

The contact details you enter here will be used in the rest of the process for verification. So make sure, the details you entered here are valid:

 

Once you enter these details here, you will be intimated through your registered mobile number and email id. You will also be sent a login password through which you need to log in for the rest of the process.

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5Paisa Account Type

Once you have entered your basic details, you need to choose what type of account you are interested in. You may opt for:

‘Mutual Fund’ Investment account  – where you can invest in mutual funds with 0-transaction fees. The broker provides MF recommendations for free and allows you a provision to invest directly from their platform.

All in One Trading and Investment account – Under this account, you can invest and trade across Equity, Currency, Mutual funds, Insurance, and Derivative segments. The derivatives are segmented into 5paisa Option Trading and futures.

Check out 5Paisa Insurance review for more information.

The 5Paisa AMC Charges and account opening fees are free if your initial margin is ₹25,00 or more. There are other charges that are not generally revealed by the stockbrokers called DP Charges. We also talk about DP charges in 5Paisa at length in our articles at A Digital Blogger.

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5Paisa Account Opening PAN Card

Post account type selection, you need to enter your valid PAN card number.

Make sure the PAN card you enter along with the DOB (Date of Birth) is valid since it will be verified through direct integrated service with the government PAN service database.

Click on the ‘Save and Continue‘ button after entering your valid PAN (Permanent Account Number). Once you do that, the system allows you to enter your Aadhar card number as well, thus, expediting the overall account opening process.

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5Paisa Account Personal Details

This is that step where you validate your contact details including your email and mobile number. This validation happens through the OTP (One-time passwords) sent to your registered contact details.

As part of your personal details to the saved in the system, here you are required to provide your name and professional details as shown below:

Then you need to provide some basic details about your monetary state and trading experience as shown below:

The last stage in the Personal Details section is your correspondence and personal addresses. This is an important piece of information since all the physical level communications will be done to the address mentioned in his step here.

Yes, you do have the option to get your address updated later when your account gets activated but its better to set things right at the very start itself.

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5Paisa Bank Account Details

Here in this step, you are required to enter your bank account details with information on:

• Bank IFSC Code
• Account Number

In case, you are not sure about the IFSC code of your bank branch, then you can look that up using the ‘Get Code’ link. Just enter the bank name and branch city/area and corresponding IFSC code and other details will be populated accordingly.

You will be using this bank information later in order to transfer funds into your trading account. Thus, make sure you are sure enough to enter valid bank details.

Before you move to the next step, select the specific segments you are looking to trade or invest in.

Although looking at the overall process, this particular step and the corresponding information gathered does not seem to be crucial enough.

It is better to keep the overall account opening process simple and lean and thus, this step looks a little un-required.

Some FATCA (Foreign Account Tax Compliance Act) details must be entered as well:

For more information, check this detailed review on 5Paisa Bank List. Also, you can get the information on the 5paisa back office login that can help you to track the trend of a stock.

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5Paisa Account Opening Documents

As mentioned at the top, in order to open 5Paisa Demat Account, you will need to upload some necessary documents in this step here.

Make sure all these documents you upload are valid, simply because in case any of the document uploaded is invalid, this will only increase the account opening duration un-necessarily.

For more information, you can check this detailed review on documents required for demat account.

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5Paisa Account Opening Charges

The account opening process in 5Paisa has now become more convenient and affordable. Previously there were some charges that you had to pay when opening an account with 5Paisa. 

Now, the account opening is free of cost. Be it the basic plan, power investor plan, or even the ultra trader plan, there are no charges on opening an account. 

5Paisa gives you the facility of opening your account without the use of paper and within a span of 5 minutes. These facilities are available on both demat as well as the trading account.

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5Paisa Account Opening Offers

The discount broker runs a few offers every now and then.

Some of the 5Paisa Account Opening offers are:

• Free 5Paisa Demat Account
• First 5 Trades for Free
• Gold Wallet Credit
• Smallcase investment
• Free Account Maintenance Charges
• Free Call and Trade Facility

Most of these offers are based on the subscription plan you pick up for your trades.

For more information, you can check this deal of 5Paisa Free Demat Account.

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5Paisa Commodity Account Opening

Most of the time, when you open a trading account with 5Paisa, it provides you with all-in-one access to all trading segments.

However, if you do not have the commodity account activated and you wish to open a 5Paisa Commodity Account, then you need to follow a few basic steps as mentioned below:

1. Click on the login post browsing the broker’s website.
2. Enter the username and password combination that you have from the Equity account
3. On the top right, you will find your client code. Click on that.
4. Here, you need to click on ‘Select Profile’, followed by ‘My Segments’ and then ‘Personal Details’.
5. Select the F&O segment, which will internally select the ‘MCX’ trading segment.

For more detailed information, you can read 5paisa Desktop App in detail.

Furthermore, you would need to upload a few documents in pdf or jpg format.

Once these formalities are completed, your 5Paisa account opening in the Commodity segment will take 3-4 business days.

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5Paisa Account Opening Status

If at any point in time, you are looking to find out your 5Paisa account opening status, you can just click on this link and figure out the latest standing of your account.

Furthermore, if for some reason, you left the 5paisa account opening process mid-way, you can resume the process by clicking on the same link.

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Conclusion 

5Paisa is an evolving discount broker in the stock market. With rapid popularity and an everyday growing client base, it has carved a niche in the stock market. 

All the features and the services provided by 5Paisa are tempting enough to open an account with it. The process of opening an account with 5Paisa is not a very long and cumbersome process. 

If you are willing to open an account with 5Paisa, then you need some documents and you are good to go. 

Opening an account with 5Paisa is just a five steps process, wherein you need some documents handy. You have to begin by proving your PAN card and bank account details.

After you have completed this step, you will be required to enter some personal details. 

5Paisa at this step gives you the chance to choose your variant from a variety of packs. There are three major packs provided by 5Paisa, basic plan, power investor, and ultra trader. 

After you have picked a pack, you can proceed with the IPV and the e-sign form. The process is simple and the 5paisa benefits are great!

Lastly, if you are still confused about how to move ahead in this process of account activation, you may just fill in the form below and we will assist you in resolving any of your queries:

 

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More on 5Paisa

In case you are interested to know more about 5Paisa, here are a few reference articles for you: