May 08, 2005 11:18 AM
23380 Views
(Updated May 08, 2005 11:18 AM)
Dear Friends,
This is an update of my earlier review of 5paisa.com (Indiainfoline's brokerage arm). Before reviewing their three offering viz., Investor Terminal, Trader Terminal and Trader Terminal 2005, I wish to say something about pre-requisite for online trading.
To start trading online in Indian share markets you need following accounts.
Broker Account to place your buy and sell orders in the stock exchange (5paisa, sharekhan, HDFC Sec, ICICI Direct, India Bulls, Motilal Oswal,envestmentz etc.,)
Demat A/c to hold your shares in electronic form ( Most of the online brokers are offering this service for a fee. This fees is lowest at India Infoline Sec. Which is a subsidiary of 5paisa and account opening charge Rs500 is waived for 5 paisa customers)
Net enabled Bank A/c to transfer funds to your broker and receive funds from your broker. ( 5 paisa needs net enabled A/c in any of the following banks – ICICI Bank, HDFC Bank, UTI Bank, Citi Bank and Centurion Bank)
Review of 5 paisa products
- Investor Terminal
To know the general information about this product, please visit https://5paisa.com/products/5pit.html . You can place orders even from browsing centers. Brokerage is about 0.5% for delivery trades and about 0.25% for square-off trades(it means buying 100 shares of ACC in the morning and selling them in the same day itself. It is called as intra day trading). Fastness of execution of your orders depends on net speed. This product suits for buy and hold type of investors. Brokerage will be charged as and when your orders are executed. No other fixed charge except demat charge. Offline orders are not possible. ( Off line order means is placing orders after market time). Orders can also be placed through phone but the will charge you Rs25 for each telephone order.
- Trader Terminal
To know the general information about this product, please visit https://5paisa.com/products/5ptt.html . You need to download a small software from their website (Trader Terminal approx 1.8 MB in size from https://5paisa.com/download). You can’t place orders from browsing centers as this software is necessary to place orders. Brokerage is about 0.25 % for delivery trades and 0.05% (5pasia for Rs100) for square-off trades on each leg. Very fast. Orders will be executed at fraction of a second. You can trade in NSE Cash and NSE Derivatives. You also get trading ideas free of cost, which are highly useful and regarded as best of the best. For this product you need to pay Rs 4999 or Rs 7999 as advance brokerage for a year. No separate fee for this product. This advance brokerage will be set-off against your trade brokerages. Both intra day and historic charting facility is available. Offline orders are not possible. Orders can also be placed through phone (30 telephone orders per month free- no additional charge)
- Trader Terminal 2005
Most of the features are same as Trader Terminal. Fee also same. Fastest. Here you can place order in BSE cash also (apart from NSE cash and Derivatives). Off line order is allowed. So you can place order at any time even at mid night. . You need to download a small software from their website (Trader Terminal 2005 approx 1.8 MB in size from https://5paisa.com/download). Disadvantage is only intra day charting is available. No historic charting facility. Orders can also be placed through phone. (30 telephone orders per month free- no additional charge)
Back Office
They have one the best online back office facilities. Your limits are updated every 180 seconds. If you transfer funds online it will be reflected in your ledger with in 2 hours during market time. If you request fund, it will be credited directly into your bank A/c within 2 days. One the best customer care through email and phone. If you give power of Attorney to handle your demat A/c , trading through 5paisa is really a pleasant experience with no paper work or courier charge.
Happy investing.
India infoline offers some of their trading ideas free of cost
