5Paisa is quickly rising as the prominent choice among the traders. This review is your hub for insights on the Demat and trading accounts of the platform and the 5Paisa registration in general. You will learn if it is worth your time and how to log in and create a 5Paisa account.
Registration and login for 5Paisa
5Paisa is a depository participant of CDSL, one of the two central depositories in India. The 5Paisa DP ID is 12082500. In addition, the 5Paisa broker enjoys backing from IIFL, India’s leading diversified financial services company. All this confirms its reliability. So how to log in to the 5Paisa web to invest and trade?
The 5Paisa account opening procedure is straightforward. It is hassle-free, and you just need a couple of documents. Follow the instructions to open a Demat account on www.5paisa.com:
- Visit the official website, or download the 5Paisa app and launch it on your mobile.
- You will see an “Open Demat Account” button. It will ask you to provide your contact number. Please comply, and the 5Paisa manager will contact you.
- You will have to provide the Bank Details and the PAN card details once the executive contacts you.
- Make sure that you have a Digilocker. It is a valuable app and can help you with Aadhar Verification without any problem.
- You will have to provide a selfie for ID proof to login into your five paisa account.
- There will be an E-sign form for you. All you need to do is check the details or fill them out and sign electronically.
So, once you’ve created a 5 Paisa account, you will have to log in to start trading.
After registration, you will get the 5Paisa account login information and an ID code, but you can also use the email address or mobile number you provided. Go to the official www.5paisa.com login page and enter your details to invest and trade. You will arrive at the dashboard if you provide the correct information.
Note! Opening a Demat account with 5Paisa takes around an hour after your documents are verified online. Similarly, opening an account offline takes around 24 hours.
Documents requirement for 5Paisa registration
- You will need a Voter ID Card or Aadhar Card and a PAN Card with a photo for proof of identity. Passport, Driving Licence, and College ID cards will also work.
- For proof of address, you can provide a copy of any utility bill in your name (Phone, Electricity, Cable, Water, etc.). If you don’t have a utility bill, you can provide the Bank Account Statement, Land Receipt, or Ration Card.
- You might also need an address copy issued by the Government to you.
Note! There is no demo account for 5Paisa. But5Paisa believes that investments should be affordable, which is why it charges 0% brokerage. 5Paisa charges a brokerage fee of ₹20 per 1 executed order for any segment.
What is the 5paisa Demat account, and how to open it?
Demat is short for “Dematerialization”. It is a cutting-edge method to allow a person to trade stocks and other securities electronically. In simple words, it provides you with a gateway to trade stocks and other securities online without the need for physical documentation and formalities. As all the legalities are taken care of, you maintain the proof of all the trades you make through the 5Paisa account.
Benefits of A Demat account
Opening a 5Paisa Demat account has many advantages. For instance, you will have an easier time investing and making transfers. It is seamless and quick. More importantly, you will have a safe place to keep your NFTs and other investments without any fear of harming the physical copies and documents.
Also worth mentioning are the following benefits:
- It is a hassle-free experience. There is no paperwork required.
- The government often imposes a minimum balance requirement on conventional accounts. It doesn’t apply to a Demat account. You can keep it at zero balance.
- You can manage all your investment through a 5Paisa Demat account electronically.
5Paisa brings you additional benefits like cashback on brokerage trading. You receive valuable insights from some of the leading experts. But these benefits depend on the selected Pack Plan.
The 5Paisa trading account and its benefits
While there’s no compulsion to open both Trading and Demat accounts, it may be helpful for you. Here is a quick brief on how it can help you out:
- A Demat account at 5Paisa will allow you to store the securities, shares, futures, and bonds electronically.
- Meanwhile, a trading account is necessary for you to make trades (buy and sell) for shares in the stock market.
Hence, it becomes indispensable for you to have both of these accounts for effective trading. So, if you want to buy and sell stocks, you will need a trading account.
How to close the 5Paisa account?
Unfortunately, the 5Paisa Demat account opening procedure is more manageable than closing it but only by a bit of difference. You don’t have an option to close the account online. There is an official form available on the website. Once you download it, get a physical copy, fill it and provide a signature, you will have to send it to the address you will find in the form.
Here are five steps to help you out:
- First, you will have to reach the 5Paisa customer support via call or email.
- Next, download the Closure Request Form.
- Print the documents, don’t forget any. Fill it with accurate information. Make sure to sign it.
- Next, you will have to send the documents by post to the address given in the form.
- Once done, you can follow up on the account closing request by contacting 5paisa customer care. It shouldn’t take long if everything is on point.
Checklist before closing the 5Paisa account
These points should be paid attention to if you want the account to close without any issue:
- Make sure to clear all the dues and withdraw any balance.
- Always keep a copy of the form you’ve filled out and proof of sending the form.
- Sell all the shares, positions, and other holdings in your Demat account. You won’t be able to retrieve them after account closure.
As a rule, it is good to close the 5 Paisa Demat account if you don’t use it. Make sure to follow up with the account closing request.
Overall, 5Paisa is a quick and efficient way to open a Demat and Trading account. You get flawless security and convenience for making trades. However, premium subscriptions are required to reap the 5Paisa-exclusive benefits for the customers.
Also, 5Paisa Insta Trading Account means opening a trading account online that is quick, instant, and hassle-free. The Insta trading account facilitates customers to place buy and sell orders across various segments such as currency, IPO, equity intraday, equity delivery, commodities, mutual funds, etc.
You can join this trading account at https://eaccount.5paisa.com/. Just enter your login ID and password. It is not an exclusive service because the broker Indiainfoline.com also has a similar IIFL Securities Insta Trading Account.
While the 5Paisa online brokerage trading platform offers expert insights, you’re responsible for your trades. As the Stock Market and Securities are subjected to market risk, everything will fall on you.