5PAISA REVIEW-2020
IIFL Holdings Limited was established in the year 1995 by Nirmal Jain, who is considered one of the most successful entrepreneurs in the economy niche. With the advancement of technology, IIFL decided to get into the dotcom business and launched an online trading portal in the year 2000. The same portal was relaunched towards the end of 2016 with a whole new model for online trading. 5paisa is best-known for offering the lowest rates of brokerage and is quite reliable as well, thanks to the backing of one of India’s leading financial services companies IIFL.
With a customer base of over 2.9 million across different segments of the trading business, 5paisa has a good understanding of its customer base with a great experience of the stock market. The 5paisa team is a young and talented team with a combination of financial professionals, engineers, tech geeks, market whizz, and many more. The whole team is dedicated to work hard and bring you a better experience online trading experience each and every day.
5paisa offers the best of research tools in the market such as an algorithmically generated list of the best growth stocks, stock ratings, stock evaluation with custom checklists and individual stock data, overall market conditions and a portfolio inclusive of select stocks chosen by various market experts.
You can choose to open either of the following accounts-
All in One Trading Account
This is a 2-in-1 type of account which allows you to open a Trading Account as well as a Demat Account. You also get the added benefit of a free Mutual Fund Account. All this comes with a completely hassle-free process, plus the transactions are seamless. This account will also give you an access to Robo Advisory (discussed below).
Mutual Fund Account
If you are not interested in trading stocks and are more interested in Mutual Funds Investment then you can go for this type of account.
Robo Advisory
You will get completely automated financial solutions using a cutting-edge technology of artificial intelligence and a team of Technical and Financial Experts. These solutions will cater to all your financial needs. This platform is not as complicated as it sounds and is quite easy to use.
Insurance Advisor
5paisa also offers an insurance advisor that will help you choose the best insurance agent among the various agents in the market. In order to avail this service, you will need to create a personal profile, enter details about your health & lifestyle and finally make your financial declarations.
Auto Investor
This is another advisor that has been programmed to understand all your needs and requirements for Mutual Funds investment. On the basis of your responses, it will help you choose the best of mutual funds and create a diverse portfolio.
Final Verdict-
5paisa is one of the most promising online brokers in India and the association with IIFL gives it a whole new sense of credibility. You can definitely rely on it when it comes to making an investment in the stock market or mutual funds, while also taking advantage of the advisory services offered by it. It provides a good platform to manage all your investments from a single platform and its perfectly suitable for trading rookies and beginners.