In this 5Paisa vs Fyers comparison, I would be discussing and covering all major aspects for both brokers, like brokerages, account opening charges, margin facility, trading platform any other optional services offered by them.
As per the latest data on NSE available, 5Paisa have close to 24,020,20 (2.4 million+) active clients and more than 3.65 million overall clients (users) in India.
Where as Fyers have close to 200,003 active clients and more than 3.35 lakh overall clients (users) in India.
Although the number do speak for themselves but do not take this as the only way to decide the stockbrokers. There are several factors such as low brokerage, better advanced trading mobile apps and platform, other integrated services etc.
On one hand Fyers is giving the tough competition to other stockbrokers in terms of best trading platform, lowest brokerage structure whereas on the other hand 5Paisa is helping users more in investing features such as, loans, advisory, US stock apart from trading etc.
Just to let you know this review guide is going to be long, you can switch from table of contents to look for the relevant info you want to know.
However below is overall comparison points between Fyers Vs 5Paisa to tell you in short about who is best by which you can make instant decision to open account instantly.
Fyers Vs 5Paisa Overall Comparison:
I have already used both their services as well as wrote the reviews about them in detailed way separately, based on my experience and facts below are things you can consider before opening an account with them.
- You can trade and invest in all segments i.e. stocks (equity) FnO, Commodity, Currency, at NSE, BSE, MCX on both 5Paisa and fyers.
- Both stock brokers 5paisa and Fyers, have best trading platform for desktop/mobile app, you can do fundamental as well as technical analysis quite easily.
- Fyers have in-house developed thematic investing platform similar to smallcase for portfolio based investment, whereas 5Paisa have also tied up with third party service such as Sensibull for options trading, Smallcase for prebuild portfolio to invest and have their own smart investor and swing trader for intraday and delivery based stock recommendation service.
- 5Paisa is a discount cum – full time broker, you may enjoy stock recommendation depending upon the addon plan you take. This service is not available with Fyers.
- 5Paisa has option for you to make investment in US stocks as well whereas Fyers do not have these services.
- Fyers brokerages are lower than 5Paisa brokerages when comparing free basic plan of 5Paisa. 5Paisa charging Rs.20 per executed order whereas Fyers charging Rs.20 or 0.03% (whichever is lower).
- 5Paisa as well as Fyers offers brokerage or say commission free mutual funds investment and platform for its users.
- If we talk about Margin at Fyers vs 5Paisa, after SEBI Rules on Intraday margin every stockbroker is giving same margin throughout India, hence this does not matter anymore.
- However, 5Paisa do Provide margin for delivery based trades up to 3X no such services with Fyers as of now.
- With Fyers and 5Paisa you can also invest and trade in IPO’s, NFO’s, ETF, SGB, and many other financial products with so much ease.
- 5Paisa also offers Insurance, loans, advisory, investments services, PMS, etc.
- 5Paisa for a limited time period is allowing free trading/demat account, they charges Rs.25 Per month. for AMC. Whereas Fyers is also for a limited time period is also not charging for account opening as well as AMC (Annual Maintenance Charges), usually they charge Rs.300 per annum.
- Fyers and 5Paisa both are offering great tools and services to make hassle free investment in stock market for its users. Still 5Paisa is better than Fyers in overall comparison.
Now, it is up to you to decide which one you choose as both have everything that is needed to trade and invest in stock market hassle free online.
Having said that, In case if you are hardcore intraday trader doing trades every other day with you own then go with Fyers, where as if you are someone who do more trading and investing and need some guidance than go with 5Paisa.
Now, let us go dive deep to cover all different services and features of Fyers and 5Paisa step by step and see who is best between Fyers Vs 5Paisa by doing in-depth analysis.
About 5Paisa Vs Fyers:
5Paisa and Fyers both have a history, in brief I have tried to explained how they both started and what is the current status.
5Paisa Vs Fyers Margin Comparison:
Margin in stock market refers to buying/selling of securities (shares) by borrowing money from your broker. This is very much similar to taking loan for short period of time. This helps traders in buying or selling more with less money in intraday trading.
If you are an active trader or a beginner who knows what exactly going on with recent changes brought by SEBI, Higher Margin won’t be a factor anymore, now the competition among the broking industry is in terms of better trading platforms and lower brokerages plans.
The upfront margin collection in cash segment has been kept at flat 20%, which means now the leverage for all stocks would be 5x also the penalty provision for short-collection/ non-collection of upfront margin in cash segment.
This means regardless of any broker you won’t get more than 5X times margin in equity cash segment and in FNO you need to have the full margin span+exposure to take any position.
Therefore, the margin or leverages offered will be equal irrespective of the stock brokers in India going forward. Keep in mind this also applies to Currency and commodity derivatives as well.
For example: if there is a 20% margin requirement on a particular stock, then you will have to pay only Rs.20 to buy a stock of Rs.100. Another way to look at it is that if you have Rs.100, you will be able to buy five stocks instead of one.
Hence, the margin requirement will be same for all brokers including 5Paisa and Fyers for intraday trading in equites and derivatives.
One need to understand taking more margin means more risk and chances of your money getting wiped out is even more, so it is always advisable to use it in limited way.
So going forward please choose stock broker not in terms of margin or leverage as it is same for all brokers through out India.
5Paisa Vs Fyers Brokerages Comparison:
5 Paisa brokerage is depended upon the subscription plan you chose, for free basic plan they charge flat fee of Rs. 20 per executed order.
Keep in mind these brokerage is for free plan and not the two add-on packs ultra and power for which you have to pay certain subscription charges.
Fyers on the other hand Rs.20 or 0.03%(whichever is lower). For options in equity, currency and commodity it is flat Rs.20 per order.
What they mean is, suppose you bought stock xyz priced at Rs.100, quantity 100 on intraday basis,
so the total turnover would be bought 100, sold 100(100*200)= 20,000 on this amount they will charge either whichever amount is lower as 0.03% of 20000, is Rs.6 so they will charge that instead of flat Rs.20.
So, if you see and compare the brokerage for both 5Paisa and Fyers When comparing the free plan with fyers, fyers brokerages are lower.
Having said that 5Paisa on brokerage are less for premium plans which include several other facilities, now its up to you to decide.
5Paisa Vs Fyers Account Opening Charges:
For 5paisa demat and trading account there are no charges for account opening for a limited time period, the only thing is subscription charges for different plan that totally depends on you to take, basic Plan has no subscription charges at all.
However if you want to take benefit of premium service in other two subscription, power investor Plan, Ultra trader Plan you can try them on monthly basis as well.
5Paisa Demat account charges depends on holding value in demat account, for example if the holding value of stocks turn out to be less than Rs.50,000 there are no AMC, where as above Rs.50,000 and less than Rs. 2lacs it is Rs.8 per month and above Rs.2 lacs the AMC will be charged Rs.25 per month.
Account opening charges at Fyers:
However AMC (annual maintenance charges) of ₹ 300 + GST will be levied per annum.
This amount will be debited from your Trading Account Ledger on a quarterly basis. Each quarter, an amount of ₹75 + GST (₹88.5) will be debited from your FYERS account.
So, overall if you see Fyers Is charging less AMC compare to 5Paisa for a limited time period as an offer,
5Paisa Vs Fyers Online Account Opening Process:
To open an A/c online with 5Paisa, Click on this link and first enter your mobile number,
You will be required to enter your PAN, bank account details and personal details to continue with the sign-up.
To open an account with 5Paisa right away click on this link
Once you sign up you need to upload certain documents listed below:
- Your PAN card
- Your Aadhaar
- To complete the e Sign process, you will have to authenticate it with an OTP. So, make sure you have the number linked to your Aadhaar handy. If not, you will not be able to complete the process. If the number linked to your Aadhaar is inactive, or if you don’t have any number linked, then you can visit your nearest Aadhaar Seva Kendra to get it updated.
- Cancelled cheque/Bank statement to link your bank account
If your cheque is not personalized then the bank statement you upload should have both the IFSC and MICR code printed on it. If not then your application will be rejected. The bank statement has to be self-attested.
- A photo or scanned copy of your signature proof will be required to be uploaded.
- Income proof –
It is mandatory to submit income proof if you wish to trade in Futures and options – Equity, Commodity, and Currency. You can submit one of the below documents.
- Income tax returns acknowledgment
- 6-month Bank statement
- Latest salary slip
- Demat holding statement, or
- A CA certifying your net worth
Note: The documents mentioned are for a Resident Individual Account.
5Paisa Vs Fyers Trading Platform Comparison:
The most important part of any trading platform is the tools and resources it has to technical analysis. Fyers and 5Paisa both has all the indicators and types of chart required to make it possible.
Whether you want to use:
Different Candlestick patterns etc. you name the indicator and it will be there, so all in all Fyers and 5Paisa has everything what is needed for a hassle-free trading platform. You can add- withdraw funds directly, create or back-test trading strategies and lot more.
The reason I am not involving all the features of different trading platform, because unnecessary it will be long, second all the features are somewhat equal, however you can read them in detail if you want here for Fyers trading platform for 5paisa trading platform.
5Paisa Vs Fyers Orders Comparison:
Order Type Compare
AMO-After Market Orders
GTC-Good Till Cancelled
Fyers Thematic Investing Platform Review:
Fyers along with the trading services gives its clients a platform to build portfolios which are pre designed and chosen by fyers. One who are looking for investment rather than trading can easily invest through thematic investing platform.
Thematic investing allows you to invest in different themes or portfolios without getting into the stock specifics. So, instead of spending your precious time doing fundamental analysis and trying to build your portfolios, you can simply choose various themes offered by fyers.
A theme is a portfolio of stocks which revolve around a particular idea or sector. Themes are intelligently designed to help investors build a good portfolio rather than individual stocks.
It is a less risky way of investing in the Indian stock market as compared to directly investing in individual stocks as it offers more diversification.
For those who are keen on investing but don’t know how to start, this is your go-to platform for building an optimal portfolio.
Choosing this route, gives you a hassle-free experience as themes are rebalanced periodically to help you stay tuned with current developments in the stock market with the help of fyers research team.
As I have already told you above there are No or say zero brokerage to pay for using thematic investment in fyers.
Other than this zerodha has tied up with various other financial tech companies provide many other services, however there is some charge associated with each services.
What Is 5Paisa Smart Investor?
5Paisa smart investor is a research tool help to build your portfolio. If you want to invest they provide insights as well as pre-build portfolio.
This feature is provided in partnership with Marketsmith India, a Research & advisory company founded by legendary US investor & author William J. O’Neil.
5Paisa Vs Fyers Other Services Comparison:
My Opinion On 5Paisa Vs Fyers:
I hope you have now thoroughly understood most of the services offered by 5Paisa and Fyers, if you ask me in 5Paisa vs Fyers which is better?
Expressing my opinion in terms of all technological tools, advanced platforms, robust management, margin brokerage:
I would rate 5Paisa 9.4 out of 10.
5Paisa has all services at one place and they offer free account opening so nothing to lose,
Moreover, with 5Paisa you can also invest in US Markets easily within few steps, as of now only ICICIDirect has this options for its users.
5Paisa is more of a full-time stock broker offering all services such as loans, insurance, mutual funds, advisory, stock recommendation etc.. You will not get any such services with Fyers as of now.
Fyers is just 4 years old, have made itself a brand within this period. There are more than 300 stockbrokers in India which are working from so long, but Fyers has created its own place.
This a significant example of how a startup should work, As I have already experienced the various services offered by fyers, I must say there are ahead in the race and will be in Top 5 stock broker position very soon.
If I have to rate the Fyers in comparison with 5Paisa, I will give 9.2 out of 10.
So don’t wait, go ahead and open an account now with Fyers.
Or else you can open an account with both and continue the services whichever suits you best, as you only need to spend Rs.25 per month for 5paisa that too if the holding value in demat is above 1.5 lakh.
If you are a beginner in trading and investing, please read this amazing guide on how share market works in India?
You can check my review on Zerodha.
You can also check my comparison for zerodha vs 5paisa here
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Note: Please do your own research and make investment. Moneycontain will not be responsible for any of your losses at all. The point made is for educational purpose only and intended to give information. All investments are subject to risks, which should be considered prior to making any investments.