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5Paisa vs. IIFL

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 IIFL. Please find a thorough comparison study for both the stock brokers, and find the table below for the comparison of 5Paisa and IIFL.


Overview

5Paisa and IIFL are both public companies and 5Paisa operates as a discount broker, while IIFL functions as a full service broker. Nirmal Jain & Rajamani Venkataraman co-founded 5Paisa in 2007. And IIFL was founded in the year 1995 by Nirmal Jain. 5Paisa's headquarters are in Mumbai, India and IIFL's headquarters are in Mumbai, India.

5Paisa operates as a discount broker, while IIFL functions as a full service broker. 5Paisa is registered in NSE, BSE, while IIFL is registered in NSE, BSE, MCX. The total branches of 5Paisa are 900 and the IIFL branches are 900.

Overview5PaisaIIFL
Broker TypeDiscount BrokerFull Service Broker
Type of companyPublicPublic
HeadquarterMumbai, IndiaMumbai, India
FoundersNirmal Jain & Rajamani VenkataramanNirmal Jain
Foundation Year20071995
Supported ExchangesNSE, BSENSE, BSE, MCX
Total branches900900

5Paisa and IIFL 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 IIFL charging Rs.1300.

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 IIFL Demat account is Free for 1 year & Rs.450 per annum thereafter. The Trading AMC for 5Paisa and IIFL 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 IIFL is CDSL.

Account Opening and Demat Charges5PaisaIIFL
Trading Account Opening ChargesRs.650Rs.1300
Demat AMC (Annual Maintenance Charges)Rs.400 per AnnumFree for 1 year & Rs.450 per annum thereafter
Trading AMC (Annual Maintenance Charges)FreeFree
Margin MoneyZeroMinimum Rs.10,000
Offline to Online ChargesNot applicableYes
DepositoryCDSLNSDL & CDSL

5Paisa and IIFL 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 IIFL charges you Free.

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 IIFL also, it is Rs.20 per order or 0.05%, whichever is lower.

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 IIFL charge Rs.20 per order or 0.05%, whichever is lower 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 IIFL charges Rs.20 per order.

Equity Brokerage Charges5PaisaIIFL
Equity Delivery BrokerageFreeFree
Equity Intraday BrokerageRs.20 Per OrderRs.20 per order or 0.05%, whichever is lower
Equity Futures BrokerageRs.20 Per OrderRs.20 per order or 0.05%, whichever is lower
Equity Options BrokerageRs.20 Per OrderRs.20 per order

5Paisa and IIFL 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 IIFL is Rs.20 per order or 0.05%, whichever is lower.

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.20 per order or 0.05%, whichever is lower.

Currency Brokerage Charges5PaisaIIFL
Currency Futures BrokerageRs.20 Per OrderRs.20 per order or 0.05%, whichever is lower
Currency Options BrokerageRs.20 Per OrderRs.20 per order or 0.05%, whichever is lower

5Paisa and IIFL 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 IIFL charges Rs.20 per order or 0.05%, whichever is lower.

Commodity Brokerage Charges5PaisaIIFL
Commodity Options BrokerageRs.20 Per OrderRs.20 per order or 0.05%, whichever is lower

5Paisa and IIFL 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 IIFL charges Rs.0.05 per Share brokerage fee.

Transaction Brokerage Charges: 5Paisa levies a transaction brokerage charge of 0.00325% of Total Turnover, while IIFL 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 Rs.5 per crore.

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 IIFL, 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 IIFL charges Rs 50 per call.

Other Brokerage Charges5PaisaIIFL
Minimum Brokerage ChargesRs.20 Per OrderRs.0.05 per Share
Transaction Brokerage Charges0.00325% of Total Turnover0.00325% of Total Turnover
SEBI Turnover Charges0.0002% of Total TurnoverRs.5 per crore
Stamp Duty ChargesAs per the stateAs per the state
GST Charges18% of (Brokerage + Transaction Charges)18% of (Brokerage + Transaction Charges)
STT Charges0.0126% of Total Turnover0.0126% of Total Turnover
Call and Trade ChargesRs 100 per call (any number of trades in a call)Rs 50 per call

5Paisa and IIFL 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 IIFL it is up to Upto 5x.

Equity Intraday: Leverage for equity intraday by 5Paisa is up to Upto 35x and by IIFL it is up to Upto 20x.

Equity Futures: Leverage for Equity Futures by 5Paisa is up to Upto 8x and by IIFL it is up to Upto 7x.

Equity Options: Leverage for Equity Options by 5Paisa is up to Upto 12x and by IIFL also, it is up to Upto 5x.

Equity Leverage5PaisaIIFL
Equity DeliveryUpto 5xUpto 5x
Equity IntradayUpto 35xUpto 20x
Equity FuturesUpto 8xUpto 7x
Equity OptionsUpto 12xUpto 5x

5Paisa and IIFL Currency Leverage

The currency futures leverage provided by 5Paisa is up to Upto 6x, while for IIFL it is up to Upto 8x.

The currency options leverage provided by 5Paisa is up to Upto 10x, while for IIFL it is up to Upto 5x.

Currency Leverage5PaisaIIFL
Currency FuturesUpto 6xUpto 8x
Currency OptionsUpto 10xUpto 5x

5Paisa and IIFL Commodity Leverage

The commodity leverage provided by 5Paisa is up to Upto 10x, while for IIFL it is up to Upto 8x.

Commodity Leverage5PaisaIIFL
CommodityUpto 10xUpto 8x

5Paisa and IIFL 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.

Offers5PaisaIIFL
Free Stock Trading AccountYesYes
Free Demat AccountNoYes
Flexible PlansNoYes
Brokerage DiscountsYesNo
Happy HoursNoNo
1 Month Free PlanNoNo
Holiday OffersNoNo
Referral ProgramNoYes
Zero Brokerage on Loss TradesNoNo

5Paisa and IIFL Features

Equity Trading: 5Paisa and IIFL 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 IIFL also offer you to trade in currency and commodities.

Initial Public Offering (IPOs): One of the greatest advantages of 5Paisa and IIFL 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 IIFL gives up to Upto 20x.

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 IIFL, you can invest in mutual funds through SIP and Lumpsum.

Forex Trading: With Forex Trading, you can trade in various international currencies. 5Paisa and IIFL also allow you to trade in forex trading.

Features5PaisaIIFL
Equity Delivery TradingNoYes
Equity Intraday TradingYesYes
Equity Futures TradingNoYes
Equity Options TradingNoYes
Currency TradingNoYes
Commodity TradingNoYes
IPO (Initial public offering)NoYes
Stocks SuggestionsNoNo
Robo AdvisoryNoNo
PMS (Portfolio Management Services)NoYes
Trading InstitutionNoNo
Trading ExposureUpto 35xUpto 20x
Mutual FundsNoYes
SIP (Systematic Investment Plan)NoYes
Forex TradingNoNo
BankingNoNo
InsuranceNoNo

5Paisa and IIFL 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 IIFL 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 Services5PaisaIIFL
Fundamental ReportsNoYes
Research ReportsYesYes
Company ReportsNoYes
Annual ReportsNoYes
Company Stock ReviewNoYes
Free Stock TipsNoYes
IPO ReportsNoYes
Top PicksYesYes
Daily Market ReviewNoYes
Monthly ReportsNoYes
Weekly reportsNoYes
Offline AdvisoryNoYes
Relationship ManagerNoYes

5Paisa and IIFL 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 IIFL 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 Platforms5PaisaIIFL
WindowsYesYes
MacYesYes
Desktop BrowserYesYes

5Paisa and IIFL Mobile Trading Platforms

5Paisa and IIFL offer you mobile trading platforms which can be used in iOS and Android applications.

Mobile Trading Platforms5PaisaIIFL
Mobile BrowserYesYes
Android AppYesYes
iOS AppYesYes
Windows AppNoNo
Other mobile osNoNo

5Paisa and IIFL 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 IIFL 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 Features5PaisaIIFL
Relationship ManagerNoYes
Offline TradingNoNo
Online TradingYesYes
24 * 7 SupportYesNo
Email SupportYesYes
Chat SupportNoYes
Toll free numberNoNo
Support BranchesZero120

5Paisa and IIFL 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 IIFL 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 IIFL, the Percentage of resolved BSE complaints is 84.14 % and the Percentage of resolved NSE complaints is 99.07 %.

We can say that 5Paisa is better than IIFL in case of resolving customer complaints.

BSE Complaints5PaisaIIFL
BSE Complaints98145
BSE Resolved Complaints86144
Percentage of resolved BSE complaints87.76 %84.14 %
NSE Complaints236214
NSE Resolved Complaints230212
Percentage of resolved NSE complaints97.46 %99.07 %
BSE/NSE Complaint vs. Resolved Percentage92.61 %91.60 %

Frequently Asked Questions


  1. Is 5Paisa better than IIFL?

    5Paisa is a discount broker and IIFL is a full service broker. You need to look for brokerage charges, account opening fees, trading platforms, etc. to determine which one is better.

  2. Is IIFL better than 5Paisa?

    IIFL 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.

  3. Which is cheaper between 5Paisa and IIFL?

    The brokerage charges for 5Paisa are on the cheaper side since it is a discount broker, while IIFL 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.

  4. Which is better, 5Paisa and IIFL?

    To figure out which of the two stockbrokers, 5Paisa and IIFL, 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 IIFL with other stock brokers

Visit the following pages to see a detailed comparision report of IIFL with other brokerage firms.