Shriram Insight Vs 5Paisa is one of the top stockbroker comparisons traders look for. Here is the comparison with respect to Brokerage, Customer Service, Trading Platforms etc. This comparison article also provides a video comparison between Shriram Insight Vs 5Paisa so that you get a 360-degree view about which broker to go ahead with.
Shriram Insight Vs 5Paisa – Basics
Here is a point by point comparison of Shriram Insight Vs 5Paisa. 5Paisa is a discount broker launched by India Infoline (IIFL) in 2015 and allows a trader to trade across segments including Equity, Currency, Insurance and Mutual Funds.
Shriram Insight, is a full-service stockbroker with a presence in around 700 different locations across India. The broker provides free account opening with reasonable brokerage rates but the quality of its service and research can be improved.
Discount brokers such as 5Paisa offer trading services at much cheaper brokerage rates and reasonable customer service. On the other hand, Full service brokers such as Shriram Insight will help you, spoon feed you, hand hold you through the process, even if you need offline help, meet someone, talk to somebody and so on. Choosing between the two depends on your preferences, your online appetite, your understanding of the stock market and so on.
To make things easy for you, we have listed out the comparison between Shriram Insight Vs 5Paisa to help you find which of the two suits your needs better. The comparison is made on aspects such as:
Account Opening Charges
Exposure or Leverages
Generally above mentioned aspects are good enough to make a decision based on your preferences, but feel free to let us know what more areas you would like us to cover. Most of the content has been vetted by the corresponding stock broking firms. We hope this article helps you to understand which of the two brokers is better for your needs.
*NSE Complaints Percentage: Lower is this number, Better is the broker.
Before we complete this comparison, we think one quick understanding of brokerage charges is important.
Full-service stockbrokers charge brokerage as a percentage of your trading turnover. For instance, if you place a trade of ₹10,000 for Equity delivery and your broker charges 0.4% or 40 paise as brokerage. This would mean, you will be charged 0.40% of ₹10,000 i.e. ₹40 as the brokerage for that particular trade.
Discount brokers, on the other hand, charge a flat rate brokerage (could be ₹10, ₹20 etc) irrespective of the trade value.
Make sure you understand this difference and then take a call. Here is a brokerage calculator for your reference.
Have you in the past or are currently trading with any of the above stockbrokers? If yes, would you like to share your experience(s) with Shriram Insight Vs 5Paisa for the benefits of other readers. Please feel free to share in the comments below.
Furthermore, in case you are looking to get started with stock market trading or investments in general, let us assist you in taking the next steps forward.