Compare stock brokers
5Paisa vs. Canara Bank
All stockbrokers charge you a fee for carrying out trading transactions. They charge you different fees for different asset classes. So, to maximize your returns and best trading experience, you need to choose the best stock broker.
Among the best stockbrokers in India, two top names are 5Paisa and Canara Bank. Please find a thorough comparison study for both the stock brokers, and find the table below for the comparison of 5Paisa and Canara Bank.
Overview
5Paisa is public company and Canara Bank is private company. 5Paisa operates as a discount broker, while Canara Bank functions as a full service broker. Nirmal Jain & Rajamani Venkataraman co-founded 5Paisa in 2007. And Canara Bank was founded in the year 2009 by P S Jayakumar. 5Paisa's headquarters are in Mumbai, India and Canara Bank's headquarters are in Mumbai, Maharashtra.
5Paisa operates as a discount broker, while Canara Bank functions as a full service broker. 5Paisa is registered in NSE, BSE, while Canara Bank is registered in NA. The total branches of 5Paisa are 900 and the Canara Bank branches are Nil.
| Overview | 5Paisa | Canara Bank |
|---|---|---|
| Broker Type | Discount Broker | Full Service Broker |
| Type of company | Public | Private |
| Headquarter | Mumbai, India | Mumbai, Maharashtra |
| Founders | Nirmal Jain & Rajamani Venkataraman | P S Jayakumar |
| Foundation Year | 2007 | 2009 |
| Supported Exchanges | NSE, BSE | NA |
| Total branches | 900 | Nil |
5Paisa and Canara Bank Trading Account Opening and Demat Charges
A dematerialization account, also known as a Demat account keeps the securities in an electronic form that are deposited with National Securities Depository Limited (NSDL) or Central Depository Services Limited (CDSL).
Account opening fees for various brokers range from 0 to Rs.200, with 5Paisa charging Rs.650 and Canara Bank charging NIL.
When you open a Demat account, you must pay specific fees such as account maintenance fees, broker commissions, GST, and STT. When you open a Demat account, you must pay specific fees such as account maintenance charges, broker commissions, GST, and STT. So, account maintenance charges (AMC) for the 5Paisa Demat account is Rs.400 per Annum and for the Canara Bank Demat account is Rs.500 per Annum. The Trading AMC for 5Paisa and Canara Bank is free. And the margin money for both brokers is also zero.
As we know that NSDL and CDSL are the two depositories in India registered by Indian Government which holds various securities in electronic form like stocks, bonds, etc. So, the depository for both 5Paisa and Canara Bank is CDSL.
| Account Opening and Demat Charges | 5Paisa | Canara Bank |
|---|---|---|
| Trading Account Opening Charges | Rs.650 | NIL |
| Demat AMC (Annual Maintenance Charges) | Rs.400 per Annum | Rs.500 per Annum |
| Trading AMC (Annual Maintenance Charges) | Free | Free |
| Margin Money | Zero | Rs.25,000 Minimum |
| Offline to Online Charges | Not applicable | Yes |
| Depository | CDSL | CDSL & NSDL |
5Paisa and Canara Bank Equity Brokerage Charges
There are more charges that a broker charges for equity transactions.
Equity delivery charges: This means holding the stocks for a certain period of time and selling it when you make a profit. Different brokers charge different rates on Equity Delivery. The Equity Delivery charges for 5Paisa is Free, while Canara Bank charges you 0.35%.
Equity Intraday: This means when you buy and sell stocks on the same day. So, the equity intraday brokerage charges for 5Paisa is Rs.20 Per Order and for Canara Bank also, it is 0.04%.
Equity Futures: Equity futures refers to the purchase and sale of shares at a fixed price on a future date. 5Paisa charge Rs.20 Per Order and Canara Bank charge 0.04% for equity futures.
Equity Options: These are contracts that allow an investor to buy or sell equities at a predetermined or strike price, (1 contract=100 shares). For equity options, 5Paisa charges Rs.20 Per Order, and Canara Bank charges Rs.50 per Lot on single side.
| Equity Brokerage Charges | 5Paisa | Canara Bank |
|---|---|---|
| Equity Delivery Brokerage | Free | 0.35% |
| Equity Intraday Brokerage | Rs.20 Per Order | 0.04% |
| Equity Futures Brokerage | Rs.20 Per Order | 0.04% |
| Equity Options Brokerage | Rs.20 Per Order | Rs.50 per Lot on single side |
5Paisa and Canara Bank Currency Brokerage Charges
Currency trading is also known as forex trading, which is used to buy and sell currency pairs. Most brokers offer this trading service.
Currency Future: It is also known as Foreign exchange futures. It is a type of contract where buying and selling of currencies is done on a future date at a fixed price. The Currency Futures Brokerage for 5Paisa is Rs.20 Per Order and for Canara Bank is 0.04%.
Currency Options: A currency option, like an equity option, is a contract that allows a buyer the right (but not the responsibility) to purchase or sell a specified currency at a fixed exchange rate on or before a particular date. 5Paisa charges Rs.20 Per Order for currency options, whereas 5Paisa charges Rs.50 per Lot on single side.
| Currency Brokerage Charges | 5Paisa | Canara Bank |
|---|---|---|
| Currency Futures Brokerage | Rs.20 Per Order | 0.04% |
| Currency Options Brokerage | Rs.20 Per Order | Rs.50 per Lot on single side |
5Paisa and Canara Bank Commodity Brokerage Charges
Commodity Trading: Commodity trading involves the purchase and sale of various commodities such as gold, silver, agriculture, and energy, as well as their derivative products. 5Paisa charges Rs.20 Per Order for commodity trading, while Canara Bank charges 0.04%.
| Commodity Brokerage Charges | 5Paisa | Canara Bank |
|---|---|---|
| Commodity Options Brokerage | Rs.20 Per Order | 0.04% |
5Paisa and Canara Bank Other Charges
Here are some other broker charges that should know about -
Minimum Broker Charges: 5Paisa levies a minimum brokerage fee of Rs.20 Per Order, while Canara Bank charges Percentage of Transacton brokerage fee.
Transaction Brokerage Charges: 5Paisa levies a transaction brokerage charge of 0.00325% of Total Turnover, while Canara Bank charges 0.00325% of Total Turnover.
SEBI Turnover Charges: Securities and Exchange Board of India (SEBI) is the market regularly and monitors fair trade practices. They also charge a small fee known as the SEBI Turnover fee. So, the SEBI Turnover charges for 5Paisa is 0.0002% of Total Turnover and for 5Paisa is 0.0002% of Total Turnover.
Stamp Duty Charges: This fee is charged as per the state and asset class.
GST Charges (Goods and Services Tax): GST of 18% is charged (brokerage and transaction charges)
STT (Securities Transaction Tax): The STT charges for 5Paisa are 0.0126% of Total Turnover, while for Canara Bank, they are 0.0126% of Total Turnover.
Call and Trade Charges: This charge varies for different brokers. 5Paisa charges Rs 100 per call (any number of trades in a call) and Canara Bank charges NA.
| Other Brokerage Charges | 5Paisa | Canara Bank |
|---|---|---|
| Minimum Brokerage Charges | Rs.20 Per Order | Percentage of Transacton | Transaction Brokerage Charges | 0.00325% of Total Turnover | 0.00325% of Total Turnover | SEBI Turnover Charges | 0.0002% of Total Turnover | 0.0002% of Total Turnover | Stamp Duty Charges | As per the state | As per the state | GST Charges | 18% of (Brokerage + Transaction Charges) | 18% of (Brokerage + Transaction Charges) | STT Charges | 0.0126% of Total Turnover | 0.0126% of Total Turnover | Call and Trade Charges | Rs 100 per call (any number of trades in a call) | NA |
5Paisa and Canara Bank Equity Exposure/Leverage
With the leverage, you can trade for a much higher amount than you actually pay for it. It means to borrow money for buying securities. For example, if you want to buy stocks for Rs. 5,00,000, but have only funds of Rs. 2,00,000. Then, you can get the remaining 3,00,000 Rs. from the broker by paying them some margin amount.
Equity Delivery: Leverage provided for Equity Delivery by 5Paisa is up to Upto 5x and by Canara Bank it is up to Upto 2x.
Equity Intraday: Leverage for equity intraday by 5Paisa is up to Upto 35x and by Canara Bank it is up to Upto 6x.
Equity Futures: Leverage for Equity Futures by 5Paisa is up to Upto 8x and by Canara Bank it is up to Upto 3x.
Equity Options: Leverage for Equity Options by 5Paisa is up to Upto 12x and by Canara Bank also, it is up to Upto 5x.
| Equity Leverage | 5Paisa | Canara Bank |
|---|---|---|
| Equity Delivery | Upto 5x | Upto 2x | Equity Intraday | Upto 35x | Upto 6x | Equity Futures | Upto 8x | Upto 3x | Equity Options | Upto 12x | Upto 5x |
5Paisa and Canara Bank Currency Leverage
The currency futures leverage provided by 5Paisa is up to Upto 6x, while for Canara Bank it is up to Upto 2x.
The currency options leverage provided by 5Paisa is up to Upto 10x, while for Canara Bank it is up to Upto 2x.
| Currency Leverage | 5Paisa | Canara Bank |
|---|---|---|
| Currency Futures | Upto 6x | Upto 2x | Currency Options | Upto 10x | Upto 2x |
5Paisa and Canara Bank Commodity Leverage
The commodity leverage provided by 5Paisa is up to Upto 10x, while for Canara Bank it is up to Upto 2x.
| Commodity Leverage | 5Paisa | Canara Bank |
|---|---|---|
| Commodity | Upto 10x | Upto 2x |
5Paisa and Canara Bank Offers
Brokers offer various exciting offers to entice new customers. Here are some of them:
Free Stock Trading and Demat Accounts: many brokers offer new investors to open an account free to cost and start trading straight away with them.
Flexible Plans: attractive plans at an economical price such as ProStocks monthly plan targeting equity cash and currency F&O at Rs.899 and Rs.499, respectively.
Brokerage Discounts: Coupons providing up to 50% discount at their rates.
Happy Hours: A specific time slot where the trades/customers get broker's services at a discount.
1-month Free Plan: where brokers provide free delivery trading such as OneTradePlus.
Holiday Offers: brokers are providing their services at a discounted rate on special events such as Diwali.
Referral Program: brokers provide a discount when your family or friends sign up with the broker using your referral code.
Zero Brokerage on Loss Trade: complete refund of money on unsuccessful trades.
| Offers | 5Paisa | Canara Bank |
|---|---|---|
| Free Stock Trading Account | Yes | Yes | Free Demat Account | No | No | Flexible Plans | No | No | Brokerage Discounts | Yes | No | Happy Hours | No | No | 1 Month Free Plan | No | No | Holiday Offers | No | Yes | Referral Program | No | No | Zero Brokerage on Loss Trades | No | No |
5Paisa and Canara Bank Features
Equity Trading: 5Paisa and Canara Bank brokers are among the top brokers in India. They provide you with various trading options like Equity Delivery, Equity Intraday and Equity Futures and Options trading.
Currency and Commodity Trading: 5Paisa and Canara Bank also offer you to trade in currency and commodities.
Initial Public Offering (IPOs): One of the greatest advantages of 5Paisa and Canara Bank broker is that you can also invest in IPOs. 5Paisa also has an added advantage that they provide you with robo-advisory services as well.
Trading Exposure: Different brokers provide different trading exposures. 5Paisa offers trading exposure of up to Upto 35x, while Canara Bank gives up to Upto 6x.
Mutual Funds: Investing in mutual funds is a great option to grow your wealth and many brokers offer the option to invest on that. With 5Paisa and Canara Bank, you can invest in mutual funds through SIP and Lumpsum.
Forex Trading: With Forex Trading, you can trade in various international currencies. 5Paisa and Canara Bank also allow you to trade in forex trading.
| Features | 5Paisa | Canara Bank |
|---|---|---|
| Equity Delivery Trading | No | Yes | Equity Intraday Trading | Yes | Yes | Equity Futures Trading | No | Yes | Equity Options Trading | No | Yes | Currency Trading | No | Yes |
| Commodity Trading | No | Yes | IPO (Initial public offering) | No | Yes | Stocks Suggestions | No | No | Robo Advisory | No | No | PMS (Portfolio Management Services) | No | No |
| Trading Institution | No | Yes | Trading Exposure | Upto 35x | Upto 6x | Mutual Funds | No | No | SIP (Systematic Investment Plan) | No | No | Forex Trading | No | No | Banking | No | No | Insurance | No | No |
5Paisa and Canara Bank Advisory Services
Discount brokers and full-service brokers offer different services. Here are some of the top advisory services offered by brokers-
Fundamental Reports: These are the reports that analyse a company's financial statements and help investors and financial analysts make decisions about a company's present financial status.
Research Reports: Many broker companies have in-house research teams which are experienced and help people to give research reports on various securities like stocks, currency, mutual funds, etc. 5Paisa and Canara Bank offer you in-depth research reports.
Company Reports: These are detailed and easy-to-understand reports on the company's measures throughout the year, month, or week.
Relationship Manager: Full-service broker gives a dedicated relationship manager, who will clear all your trading queries and help you throughout your trading journey.
Other Services: Many brokers provide more services depending upon the brokerage price like Company Stock Reviews, Free Stock Tips, IPO Reports, Top Picks, Daily Market Reviews, Monthly Reports, Weekly Reports and Offline Advisory.
| Advisory Services | 5Paisa | Canara Bank |
|---|---|---|
| Fundamental Reports | No | Yes |
| Research Reports | Yes | Yes |
| Company Reports | No | Yes |
| Annual Reports | No | Yes |
| Company Stock Review | No | Yes |
| Free Stock Tips | No | Yes |
| IPO Reports | No | Yes |
| Top Picks | Yes | Yes |
| Daily Market Review | No | Yes |
| Monthly Reports | No | Yes |
| Weekly reports | No | Yes |
| Offline Advisory | No | Yes |
| Relationship Manager | No | Yes |
5Paisa and Canara Bank Desktop Trading Platforms
A trader can utilise multiple trading platforms to trade in stocks, commodities, etc. A good and advanced trading platform can make your trading easier and result in profit maximization. 5Paisa and Canara Bank offer a Desktop Trading Platform with advanced tools, interactive charts, and quick buying and selling of securities. Their trading platforms can be used in Windows, Mac and Desktop browsers as well.
| Desktop Trading Platforms | 5Paisa | Canara Bank |
|---|---|---|
| Windows | Yes | Yes |
| Mac | Yes | No |
| Desktop Browser | Yes | Yes |
5Paisa and Canara Bank Mobile Trading Platforms
5Paisa and Canara Bank offer you mobile trading platforms which can be used in iOS and Android applications.
| Mobile Trading Platforms | 5Paisa | Canara Bank |
|---|---|---|
| Mobile Browser | Yes | No |
| Android App | Yes | Yes |
| iOS App | Yes | Yes |
| Windows App | No | No |
| Other mobile os | No | No |
5Paisa and Canara Bank Customer Support
Customer service is a critical aspect in converting a new customer into a loyal and long-term customer. Because the trading market moves quickly, an investor requires appropriate customer assistance from their brokers. 5Paisa and Canara Bank give good customer support and service to their clients. They help you in online trading through chat support, e-mail support and call support.
| Customer Support Features | 5Paisa | Canara Bank |
|---|---|---|
| Relationship Manager | No | No |
| Offline Trading | No | Yes |
| Online Trading | Yes | Yes |
| 24 * 7 Support | Yes | No |
| Email Support | Yes | Yes |
| Chat Support | No | No |
| Toll free number | No | No |
| Support Branches | Zero | 762 |
5Paisa and Canara Bank Customer Complaints
The BSE and NSE actively accept and handle complaints to maintain a stringent check and balance on fair-trade opportunities. Investors can file complaints about brokers or companies in case of any unfair trade practices. BSE and NSE make sure to resolve your complaints within a certain time. Check out the table below for 5Paisa and Canara Bank registered and resolved complaints.
For 5Paisa, the Percentage of resolved BSE complaints is 87.76 % and the Percentage of resolved NSE complaints is 97.46 %.
For Canara Bank, the Percentage of resolved BSE complaints is NaN % and the Percentage of resolved NSE complaints is NaN %.
We can say that 5Paisa is better than Canara Bank in case of resolving customer complaints.
| BSE Complaints | 5Paisa | Canara Bank |
|---|---|---|
| BSE Complaints | 98 | 0 |
| BSE Resolved Complaints | 86 | 0 |
| Percentage of resolved BSE complaints | 87.76 % | NaN % |
| NSE Complaints | 236 | 0 |
| NSE Resolved Complaints | 230 | 0 |
| Percentage of resolved NSE complaints | 97.46 % | NaN % |
| BSE/NSE Complaint vs. Resolved Percentage | 92.61 % | NaN % |
Frequently Asked Questions
Is 5Paisa better than Canara Bank?
5Paisa is a discount broker and Canara Bank is a full service broker. You need to look for brokerage charges, account opening fees, trading platforms, etc. to determine which one is better.
Is Canara Bank better than 5Paisa?
Canara Bank is a full service broker and 5Paisa is a discount broker. As a result, we must examine features such as brokerage costs, account opening fees, trading platforms, and more to determine which of them is a better stockbroker.
Which is cheaper between 5Paisa and Canara Bank?
The brokerage charges for 5Paisa are on the cheaper side since it is a discount broker, while Canara Bank is a full-service broker. In general, the brokerage fees for both of them will be relatively similar. Examine the brokerage fees in-depth to determine the less expensive broker for your requirements.
Which is better, 5Paisa and Canara Bank?
To figure out which of the two stockbrokers, 5Paisa and Canara Bank, is better, compare their brokerage charges, trading platforms, other expenses, research, account opening charges, and so on.
Compare 5Paisa with other stock brokers
Visit the following pages to see a detailed comparision report of 5Paisa with other brokerage firms.
Compare Canara Bank with other stock brokers
Visit the following pages to see a detailed comparision report of Canara Bank with other brokerage firms.