5Paisa Review 2026

Overview

5Paisa Capital Limited is a Mumbai-based discount broker that was incorporated in 2016 as a subsidiary of IIFL Group (now listed independently on NSE: 5PAISA). The name "5Paisa" was chosen when the company initially charged ₹5 per trade — one of the lowest brokerage rates at the time. While the pricing has evolved, the brand positioning has remained firmly in the value/budget segment of the discount brokerage market.

5Paisa holds NSE, BSE, and MCX memberships and is registered with CDSL as a depository participant. SEBI Registration No. INZ000111130. The company has a stated focus on serving cost-conscious retail traders and investors, particularly in the F&O and equity segments.

Account Opening

5Paisa offers a fully digital account opening process. The flow is similar to other discount brokers — PAN, Aadhaar e-KYC, bank account details, and live photo. The process typically takes 10-15 minutes and accounts are generally activated within 1-2 business days. 5Paisa also allows offline account opening in some cases, though the digital route is the primary channel.

Account opening charges have historically been zero. The demat AMC is typically ₹450/year — higher than some competitors. However, 5Paisa periodically runs zero-AMC promotions, so the current AMC should be verified directly at the time of account opening.

Brokerage Charges

5Paisa's most distinctive pricing feature is that it charges a flat ₹20 per order across all segments — including equity delivery, where several brokers charge zero. This makes it one of the few brokers where delivery trades are not free, but the flat ₹20 is still a very low absolute amount relative to most trade sizes.

Standard plan brokerage:

• Equity delivery: ₹20 per executed order (flat).
• Equity intraday: ₹20 per executed order (flat).
• Equity futures: ₹20 per executed order.
• Equity options: ₹20 per executed order.
• Currency F&O: ₹20 per executed order.

Subscription plans:5Paisa offers subscription plans (e.g. "Power Investor" at approximately ₹599/month) under which the per-order brokerage drops significantly — down to ₹10 or lower per order depending on the plan tier. For active traders placing many orders per month, these plans can significantly reduce the total brokerage outflow. The monthly subscription cost is fixed regardless of trading volume.

All statutory charges (STT, exchange charges, SEBI charges, stamp duty, GST) apply in addition to brokerage, as with all brokers. Use our brokerage calculator to model total transaction costs.

Platform & App

The 5Paisa app and web platform have been progressively updated. The mobile app provides:

• Basic to intermediate trading functionality — order placement, portfolio tracking, watchlists
• Charting with technical indicators (TradingView-powered in recent versions)
• F&O tools: options chain, basic strategy payoff visualisations
• Mutual fund investing through the 5Paisa platform (direct plans)
• 5Paisa Research reports — market news and some in-house analysis content
• Robo Advisory feature: auto-portfolio construction based on risk profiling (educational model portfolios, not personalised advice)

The platform's UI has historically been considered less polished than Zerodha Kite or Upstox Pro. Multiple app redesigns have improved the experience, but design quality remains a commonly cited area in public user reviews. Performance and stability during high-traffic periods (budget days, RBI policy days) have also been variable historically.

Customer Support

5Paisa offers customer support through in-app chat, email, and phone. A dedicated relationship manager is available under higher-tier plans. Standard support response times have received mixed reviews in public forums — faster for routine queries, slower for complex account or payout issues. Like all discount brokers, support volume spikes during major market events.

Pros

• Consistent flat ₹20 brokerage across all segments — simple, transparent pricing
• Subscription plans offer significant cost savings for high-frequency traders
• Listed company (NSE: 5PAISA) — public disclosures add a layer of transparency
• Robo portfolio and model portfolio tools for beginners who want a starting framework
• Mutual fund investing (direct plans) within the same app
• Fully digital account opening

Cons

• No zero-delivery brokerage — unlike Zerodha, Upstox, Angel One, and Dhan, equity delivery trades cost ₹20 each. For buy-and-hold investors who make infrequent trades this is still negligible, but it is worth noting.
• App UI and stability have historically lagged top competitors
• Demat AMC (₹450/year on standard plan) is higher than some competitors
• Developer API is less comprehensive and less documented than Zerodha Kite Connect or Angel One SmartAPI
• Support response times can be slow during peak periods

Who is 5Paisa best suited for?

5Paisa is best suited for cost-conscious retail traders — particularly those in the intraday or F&O segment who place a significant number of orders per month and can benefit from the subscription plan's reduced per-order cost. The subscription model is more favourable for high-frequency traders than for long-term investors who make a handful of delivery transactions per year.

Long-term equity delivery investors who make infrequent trades will find the ₹20 delivery brokerage a minor cost — but they may be better served by brokers with a zero delivery brokerage model if they plan to build a portfolio one stock at a time with frequent small purchases.

Related tools and comparisons

Use our brokerage calculator to compare 5Paisa's all-in transaction costs against Upstox, Angel One, Groww, and others. Also see our reviews of Upstox, Angel One, and Groww.

This review is educational only and does not constitute investment or financial advice. Brokerage charges and features are sourced from publicly available information and may change — always verify with 5Paisa directly before opening an account. Some links on this page are affiliate links; EquitiesIndia.com may earn a commission if you open an account through them. Affiliate relationships do not influence the content of this review. EquitiesIndia.com is not a SEBI-registered investment adviser. Please read all broker documents carefully and consult a SEBI-registered adviser for personalised financial advice.