5paisa review
Independent review of 5paisa — brokerage, app, account opening, customer support and the kind of investor it actually fits. 5paisa is a SEBI-registered discount broker by 5paisa Capital.
Verdict
Cost-conscious, self-directed investors and traders who want a low flat-fee, all-in-one app for stocks, F&O, mutual funds and IPOs without a bank-linked 3-in-1 account.
Brokerage at a glance
Headline brokerage on the default 5paisa regular plan. On top of brokerage you also pay STT, exchange transaction charges, SEBI fee, stamp duty, GST and DP charges — see full charges for the breakdown.
About 5paisa
5paisa is a SEBI-registered discount broker by 5paisa Capital. The default Regular plan is flat ₹20 per executed order across all segments; Power Investor (₹599/month) and Ultra Trader (₹1199/month) subscription plans drop per-order brokerage to ₹10, and Ultra Trader makes equity delivery free.
The 5paisa trading app
- Trade and invest in stocks, mutual funds, IPOs, ETFs, F&O and commodities in one app
- Flat brokerage of Rs 20 per order; zero-commission mutual funds and free IPO applications
- TradingView charts plus FnO 360 tools with option chain analysis and predefined strategies
- Real-time NSE/BSE market data, custom watchlists and single-click order placement
- Fund transfers via UPI, NEFT, RTGS and IMPS
- Biometric login, two-factor authentication and encrypted transactions
Opening a 5paisa account
Account opening is fully online for Indian residents. Keep your PAN, Aadhaar (with mobile linked for OTP), a bank cancelled cheque or statement, a passport-size photo and a signature on white paper handy. Aadhaar e-KYC, in-person video verification and e-sign typically take 1–3 working days end-to-end. Start at www.5paisa.com.
Customer support
5paisa support is available 8:30 am to 6:00 pm, monday to friday. For complete contact details, the four-level SEBI escalation path (broker desk → compliance officer → SCORES → SMART ODR), and what to have ready before escalating, see the 5paisa customer care page.
Pros and cons
How we judge this: these pros and cons are drawn from 5paisa’s published charges and platform features, its app-store ratings — cross-checked against its SEBI registration and NSE / BSE membership. They are our editorial assessment, not a sponsored placement, and not financial advice.
What users say about 5paisa
Paraphrased themes from public app-store reviews and forums — these are users’ opinions, not our testing, and not financial advice. Sampled 2026-06-14.
- Flat ₹20 per order brokerage across equity delivery, intraday and F&O, with ₹0 account opening
- All-in-one account covering stocks, mutual funds, ETFs, commodities, currency, IPOs and US stocks
- Zero transaction cost mutual fund investing with both Direct and Regular plans
- Multiple dedicated platforms including a desktop terminal, a derivatives-focused terminal (FnO 360) and free trading APIs (Xstream)
- In-house technology team builds and maintains the trading platforms
- Some users report customer support being slow to respond or requiring repeated follow-ups to resolve queries.
- Some users report occasional technical glitches or delays, such as added funds not reflecting promptly in trading margin.
- Some users report being charged demat maintenance fees despite the account being marketed as free.
Alternatives to 5paisa
By active client count, 5paisa is the #15 largest of 38 retail brokers on the NSE (as of 2026-04-30). If you're weighing it against the field, these are the brokers people most often compare it with:
Side-by-side head-to-head comparisons:
See the full ranked list of every retail broker in India on the stock brokers in India page, or compare exact landed cost on a typical trade with the brokerage calculator — switch brokers in the dropdown without leaving the page.
Frequently asked
What people ask about 5paisa.
5paisa is SEBI-registered and holds NSE / BSE membership, so it meets the regulatory bar every Indian broker must clear. Whether it is a good fit depends on what you trade. Cost-conscious, self-directed investors and traders who want a low flat-fee, all-in-one app for stocks, F&O, mutual funds and IPOs without a bank-linked 3-in-1 account.
Equity delivery is Flat ₹20. Equity intraday is Flat ₹20. Equity options is Flat ₹20. On top of brokerage you pay STT, exchange transaction charges, SEBI fee, stamp duty, GST and DP charges. The brokerage calculator on this site shows the all-in landed cost for a sample trade.
5paisa is registered with SEBI and a trading member of NSE / BSE. Demat accounts are held with CDSL or NSDL — the broker does not hold your shares, the depository does. Funds are held in a SEBI-regulated client bank account separate from the broker's own funds. The risk to investors from broker failure is limited; the larger risk to manage is account fraud via phishing and OTP sharing.
Trade and invest in stocks, mutual funds, IPOs, ETFs, F&O and commodities in one app. Flat brokerage of Rs 20 per order; zero-commission mutual funds and free IPO applications. For a full feature list and download links see the 5paisa app page.
Account opening is fully online for Indian residents. You need PAN, Aadhaar (with mobile linked for OTP), a bank cancelled cheque or statement, a passport-size photo and a signature on white paper. Aadhaar e-KYC, in-person video verification and e-sign typically take 1–3 working days. Apply via https://www.5paisa.com.
Discount brokers comparable to 5paisa include Zerodha, Groww, Upstox, Dhan and Angel One. Full-service alternatives include ICICI Direct, HDFC Securities, Kotak Securities and Sharekhan. Compare brokerage rates side-by-side on the brokerage calculator before switching.