What is 5paisa Refer Program and How It Works

5paisa is a well-known discount broker in India that helps you invest or trade in stocks at a low cost. You can also invest in mutual funds, bonds, and IPOs without paying any additional fee. 

Along with saving money with discounted brokerage charges, you can also earn some money with 5paisa’s referral program. Let’s have a closer look at what 5paisa refer program is all about and how it can benefit you and your friends.

What is ‘5paisa Refer’

5paisa Refer is a referral program that allows you to earn cash rewards by referring your friends and family to the 5paisa trading platform. 

When you refer someone to 5paisa and they open a demat account using your referral link and complete the first transaction, you will receive a cash reward of Rs 100 per referral.  

You get the cash rewards credited to your 5paisa account which you can use to invest in stocks or mutual funds or even withdraw to your bank account.

How does the 5paisa Referral Program Work

The 5paisa referral program works in two ways – You get a cash reward along with brokerage commission when someone uses your referral link to open an account and start trading. Let’s discuss this in detail.

Cash rewardYou get Rs 100 worth of credit in your trading account on each successful referral
Brokerage commissionYou also get a 12.5% share of the brokerage paid on each trade executed by your friend

You can read our article on 5paisa charges to know all the charges that 5paisa levies.

Benefits of 5paisa Refer

The 5paisa referral program offers several benefits to both you (referrers) and your friends (referees). Let’s take a look at some of them.

Benefits for referrers

  • Opportunity to earn cash rewards by referring friends and family to the 5paisa platform.
  • Earning brokerage sharing when referred accounts trade on 5paisa
  • Earning brand vouchers that 5paisa offers from time to time
  • Use the cash rewards for investing in stocks or mutual funds or withdrawing to your bank account.

Benefits for referees

A referee is a person who uses a referral link to open an account with a broker such as 5paisa. 

  • Opportunity to earn cash rewards by completing transactions on the platform.
  • Earn brand vouchers that 5paisa offers from time to time.

Note – Referral benefits are not fixed. 5paisa keeps on changing the Referral rewards every now and then.

You can also check out our smallcase promo code article if you are looking for a discount on smallcase subscriptions. We won’t provide you with any discount code but you’ll learn how to find that code for you.

How to Participate in the 5paisa Refer Program

Participating in the 5paisa referral program is quite simple. Here’s how you can get started:

Step 1: Log in to your 5paisa account and scroll down to see the referral code.

5paisa referral code

Step 2: Share your unique referral link with your friends and family through social media, email, or any other preferred mode of communication.

5paisa Refer and earn

Step 3: Your friend clicks on the referral link and opens a demat account with 5paisa.

5paisa sign up page

Step 4: Your friend completes the account opening process and transacts at least once on the 5paisa platform.

Step 5: You receive a cash reward in your 5paisa account, which you can use for investing or withdraw to your bank account.

To participate in the 5paisa referral program, you need to meet the following requirements:

  • You should be a registered user of the 5paisa trading platform.
  • Your friend should not have an existing 5paisa account.
  • Your friend should use your unique referral link to open a demat account with 5paisa.
  • Your friend should complete the account opening process and transact at least once on the 5paisa platform.

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Comparison with Other Brokers Referrals

Trading PlatformRewardsBrokerage sharing
5paisaRs 100 per referral12.5% per order
Zerodha300 points per referral10% per order
UpstoxRs. 200 per referral(Rs 100 on account opening and Rs 100 on first trade within 30 days)N.A.
GrowwNot AvailableN.A.
Paytm MoneyNot AvailableN.A.
Angel OneNot Available (only offers brand vouchers)N.A.

Remember 5paisa and Upstox refer offer has a referral cap of a maximum of 10 referrals. You won’t get any rewards after the 10th referral.

Zerodha doesn’t have any limit on the number of referrals but you can withdraw the shared brokerage only after 5 successful account activations. Account activation means adding funds after the trading account is opened.

If you are also interested in learning about safer investments like bonds, then check out our article on Golden Pi Review to know how to use the platform for investing in bonds.

5paisa Refer vs 5paisa Partnership Program

5paisa Referral Program5paisa Partnership Program
Who can participate?All existing 5paisa usersIndividuals, firms, and organizations with a strong network
How does it work?Existing users refer friends and family to sign up and transact on the platform.You earn commissions on every successful referral or transaction made through your network.
Benefits– Both you and your friend may receive cash rewards.

– You also receive 12.5% brokerage per order
Multiple plans to get Commission-based earnings for authorized partners
DrawbacksNo referral rewards after the 10th referral.A bigger network is required to maintain regular commission earnings. 
Marketing SupportN.A.You’ll receive marketing support and training to help them grow their network.
Limit on EarningsYou get rewards up to 10 referrals onlyYou get rewards for up to 10 referrals only
Target AudienceAny individual looking to refer friends or family.Individuals with a large network of clients or customers interested in trading and investing in the stock market.

Frequently Asked Questions

Q1. Is there any limit on the number of referrals I can make?

Yes, you can get referral rewards for only up to 10 referrals.

Q2. How long does it take to receive the cash reward after a successful referral?

A. You will receive the cash reward in your 5paisa account within 72 days of your friend completing the transaction on the platform.

Q3. Can I withdraw the cash reward to my bank account?

A. Yes, you can withdraw the cash reward to your bank account or use it to invest in stocks or mutual funds on the 5paisa platform.

Q4. What are the terms and conditions of the 5paisa referral program?

A. Some of the important terms and conditions of the 5paisa referral program are:

  • You can refer and earn through the offer for your first 10 referrals only, starting from the account opening date with 5paisa.
  • Within 72 hours, the free credit will be deposited in your Ledger (ad-hoc margin) which can be used to buy stocks of your choice. If the credit remains unused for 25 days, it will expire.
  • The brokerage sharing will be credited to your ledger account within 7 days after the end of the month.
  • You will be eligible for benefits as a referrer only if the referee’s account is opened within 10 days from the referral date.


The 5paisa referral program is an excellent opportunity for you to earn cash rewards and shared brokerage benefits. However, the 10 referrals limit can be a little disappointing for you.

About Rajan Dhawan

Rajan has covered personal finance and investing for over 5 years. Previously, he was in the IT field for 8 years after completing his MCA but his deep interest in personal finance led him to become an investing expert. He is passionate about investing, stocks, startups, and cryptos.

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