5paisa vs ProStocks Comparison: 2024
About 5paisa
A successful discount broker in India, 5 paisa provides different trading and investing services across various segments. Its parent company is IIFL that has built a great name in the retail broking industry.
5Paisa: Overview
5paisa Capital Ltd. is a new age company that believes in making the entire process of getting started with trading as simple as possible, offering account opening in three simple steps. One of the leading stockbrokers in India, 5paisa Capital Ltd is publicly-traded, and managed by IIFL founders. This provides the company with valuable experience in the financial markets coupled with its expertise in simplifying the trading experience has enabled it to offer best-in-class services at an extremely low cost.
Based out of Mumbai, 5paisa.com commenced operations in March 2016 and since then has become 2nd largest discount stock broker in India (As on Dec 2018). It is listed on both BSE as well as NSE.
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About ProStocks
Founded in 2016, ProStocks is the Online venture of Sunlight Broking LLP- one of India's top stock broking companies. It is known to offer convenient trading at economical rates. Being an online venture ProStocks prides itself in not indulging with any overhead costs like branch offices, Relationship managers and expensive advertisements in order to offer low-cost transactions and plans. ProStocks is the cheapest broker for unlimited trading plans which intends to start providing mutual fund services soon.
ProStocks: An Overview
It is a Mumbai-based company founded by SP Toshniwal (present CEO) and Saurabh Ranka which allows its clients to trade and invest in the companies listed on the BSE and NSE exchanges. It facilitates trading in segments like Equity cash, Derivative Trading, Currency trading and Intraday Equity. The 2-in-1 Demat and trading account feature makes transactions handy and convenient. They also offer NRI trading services with zero additional account fee and
5paisa vs ProStocks Account Opening Charges: 2024
| Charge | 5paisa | ProStocks |
|---|---|---|
| Demat Account Opening Charges | ₹0 (Free) | ₹0 |
| Trading Acc Opening Charges | ₹650 | ₹0 |
| Trading Account AMC | ₹0 (Free) | ₹0 |
| Demat Account AMC | ₹540 yearly (charged as ₹45 per traded month) | ₹0 (with ₹1000 one time refundable deposit) |
5paisa vs ProStocks Brokerage Charges and Plans : 2024
| Charge | 5paisa | ProStocks |
|---|---|---|
| Plan Name | Optimum Plan | Unlimited Plan |
| Equity Delivery | ₹20 per trade | ₹0 |
| Equity Intraday | ₹20 per trade | ₹0 |
| Equity Futures | ₹20 per trade | ₹0 |
| Equity Options | ₹20 per trade | ₹0 |
| Currency Futures | ₹20 per trade | ₹0 |
| Currency Options | ₹20 per trade | ₹0 |
| Commodity Options | ₹20 per trade | N/A |
| Mutual Fund | N/A | N/A |
5paisa vs ProStocks Margin / Exposure: 2024
| Segment | 5paisa | ProStocks |
|---|---|---|
| Equity Delivery | Upto 4x | 1x (no margin) |
| Equity Intraday | Upto 20x | 7x (Margin intraday sq off) |
| Equity Future | Intra-day: 3.5x | Carry forward: 1x (no margin) | 2x |
| Equity Options | Intra-day: 1x | Carry forward: 1x | 1x (no margin) |
| Currency Future | Intra-day: 1 time | Carry forward: 1x | 1.5x |
| Currency Options | Intra-day: 1x | Carry forward: 1x | 1x (no margin) |
| Commodity Future | N/A | N/A |
| Commodity Options | N/A | N/A |