About 5paisa
5paisa Capital Ltd. is one of India's pioneering discount stockbrokers, established in 2016 and headquartered in Mumbai. Originally promoted by the IIFL (India Infoline) Group before becoming an independently listed entity on the BSE and NSE, 5paisa built its reputation on a flat-fee pricing philosophy that broke away from the percentage-based brokerage models charged by traditional full-service brokers. Today, the platform serves more than 50 lakh registered customers, making it one of the largest discount broking platforms in the country.
Trades placed through 5paisa are routed and settled through India's principal stock exchanges under standard regulatory oversight. 5paisa Capital Ltd. is a publicly listed entity on NSE & BSE (CIN: L67190MH2007PLC289249).
5paisa's product suite spans equity delivery and intraday trading, equity and currency derivatives, commodity trading on MCX, direct mutual funds, IPO applications, bonds, sovereign gold bonds, digital gold, and a Margin Trading Facility (MTF) branded as "Pay Later." The broker is best known for its technology stack, which includes a mobile trading app, a web-based trading terminal, the 5paisa EXE desktop platform, a dedicated derivatives terminal called FnO360, an advanced Scalper Terminal for high-frequency intraday traders, TradingView chart integration, and developer-facing APIs through its Xstream platform for algorithmic trading. It is also an AMFI-registered Mutual Fund Distributor (ARN-104096), allowing direct mutual fund investments at zero commission, and carries a 4.3-star rating on the Google Play Store.
Why Choose 5paisa?
Choosing a stockbroker in 2026 is rarely about brokerage alone - execution reliability, platform depth, and total cost of ownership matter just as much. 5paisa positions itself at the intersection of low-cost trading and feature-rich technology. First, the flat-fee structure is genuinely simple: ₹20 per executed order across equity delivery, intraday, futures, and options, regardless of trade size, which can work out cheaper than percentage-based brokerage for traders transacting in larger lot sizes or higher-value trades.
Second, 5paisa has invested meaningfully in derivatives-specific tooling. The FnO360 terminal consolidates option-chain analytics, real-time Greeks (reportedly 16+ data points), strategy builders, and one-tap futures rollover - features typically the domain of premium or institutional terminals rather than retail discount apps. Third, account opening is completely free, removing a common entry barrier, and combined with zero-commission direct mutual fund investing and access to bonds, ETFs, sovereign gold bonds and digital gold, the broker functions as a reasonably complete investment gateway rather than a pure trading app.
Fourth, 5paisa's Margin Trading Facility offers up to 4X leverage with a transparent, publicly listed slab-based interest structure, and the broker has periodically run promotional zero-interest windows for new MTF users. Finally, 5paisa offers API access through its Xstream developer platform, a meaningful differentiator for systematic and algorithmic traders who want to build custom strategies rather than rely solely on the native app.
Key Features of 5paisa
- Flat ₹20 brokerage per executed order across equity, intraday, F&O, currency and commodity segments.
- Zero account opening charges for individual trading and demat accounts.
- Zero-commission direct mutual fund investing.
- Margin Trading Facility ("Pay Later") offering up to 4X leverage on 750+ eligible stocks.
- FnO360 - a dedicated derivatives terminal with live Greeks, strategy builders and rollover tools.
- 5paisa Scalper Terminal designed for high-frequency intraday and options traders.
- 5paisa EXE desktop trading terminal for power users.
- TradingView chart integration for advanced technical analysis.
- Xstream Developer APIs enabling algorithmic and automated trading strategies.
- MCP AI Trading Assistant for conversational, AI-assisted trading support.
- Access to IPOs (Mainboard and SME), bonds, ETFs, Sovereign Gold Bonds and digital gold.
- Multi-language support on the website (English, Hindi, Marathi, Gujarati).
Basic Broker Details
| Parameter | Details |
|---|---|
| Broker Name | 5paisa Capital Ltd. |
| Category | Discount Broker |
| Founded | 2016 (originally promoted by the IIFL Group) |
| Headquarters | Mumbai, Maharashtra |
| SEBI Registration No. | INZ000010231 |
| CDSL DP ID | IN-DP-192-2016 |
| Exchange Membership | NSE: 14300 | BSE: 6363 | MCX: 55945 |
| AMFI Registration | ARN-104096 |
| Listed Status | Listed on NSE & BSE (publicly listed discount broker) |
| Active Customers | 50 Lakh+ |
| Google Play Store Rating | 4.3/5 |
| Customer Care | 8976689766 | support@5paisa.com |
Trading Platform Review
Mobile App Review
The 5paisa mobile trading app (Android and iOS) is the broker's primary touchpoint for most retail users and carries a 4.3-star rating on the Google Play Store. The app bundles order placement, watchlists, charting, IPO applications, mutual fund investing, and the MTF ("Pay Later") workflow into a single interface, with a dedicated MTF/Pay Later tab in the order form that lets users toggle into leveraged orders without switching screens.
Web & Desktop Platform Review
The web trading platform mirrors the core functionality of the mobile app and is suited to users who prefer a larger screen for monitoring multiple positions, option chains, or watchlists simultaneously, without requiring any download. Beyond that, 5paisa offers 5paisa EXE (a downloadable desktop terminal), the Scalper Terminal (built for rapid-fire intraday and options execution), and FnO360 (a derivatives-focused dashboard) - a tiered lineup broader than what most discount brokers offer, aimed at serving everyone from beginner investors to active options traders under one brand.
Speed Analysis
Independent, verified, segment-by-segment execution-speed benchmarks are not published by the broker; exact order-execution latency figures from an official source are marked Data Not Available.
Charting Features
5paisa has integrated TradingView charting into its platforms, giving users access to a significantly larger library of technical indicators and drawing tools than most native in-house charting engines provide.
Algo Trading & API Access
Through the Xstream developer portal, 5paisa exposes APIs that let coders and quant traders build and deploy custom algorithmic strategies connected directly to the broker's order management system.
Brokerage Charges Analysis
| Segment | Brokerage Charge |
|---|---|
| Equity Delivery | ₹20 per executed order (Flat) |
| Equity Intraday | ₹20 per executed order (Flat) |
| Equity Futures | ₹20 per executed order (Flat) |
| Equity Options | ₹20 per executed order (Flat) |
| Currency Futures | ₹20 per executed order (Flat) |
| Currency Options | ₹20 per executed order (Flat) |
| Commodity Futures | ₹20 per executed order (Flat) |
| Commodity Options | ₹20 per executed order (Flat) |
| Direct Mutual Funds | ₹0 brokerage / commission |
Account Opening Charges
| Account Type | Charge |
|---|---|
| Individual Trading & Demat Account | ₹0 (Free) |
| Non-Individual Account | Not Disclosed by Broker |
| NRI Account | Not Disclosed by Broker |
DP & Other Transaction Charges
| Charge Head | Applicable Fee Structure |
|---|---|
| DP (Debit) Transaction Charges | ₹20 + GST per scrip per debit transaction |
| Margin Pledge Charges | ₹12.50 + GST per scrip |
| MTF Pledge Charges | ₹25 + GST per scrip |
| Pledge for Loan Against Shares | ₹50 + GST per scrip |
| Unpledge Charges | ₹0 (No charge) |
| Off-Market Transfer Charges | 0.025% or ₹25 (excl. GST), whichever is higher |
| Demat Account Maintenance (AMC) | Slab-based: ₹0 up to ₹50,000 holdings; ₹8/month for ₹50,000-₹2,00,000; ₹25/month above ₹2,00,000 (BSDA-linked) |
| Call & Trade Charges | ₹20 + 18% GST per call |
| Mutual Fund Processing Charge | ₹10 + GST per transaction (direct plan processing) |
Margin Trading Facility (MTF) - "Pay Later"
| MTF Parameter | Details |
|---|---|
| Maximum Leverage | Up to 4X |
| Eligible Stocks | 750+ SEBI-approved securities |
| Interest Rate (up to ₹1 Crore funded) | 0.041% per day (≈14.99% p.a.) |
| Interest Rate (above ₹1 Crore funded) | 0.038% per day (≈13.99% p.a.) |
| Interest Billing | Charged daily on funded amount, billed weekly |
| Holding Period | No fixed maximum - can be held indefinitely if margin is maintained |
| MTF Brokerage | ₹20 per executed order (same as standard brokerage) |
| MTF Pledge Charge | ₹25 + GST per scrip |
Hidden Charges Analysis
5paisa publicly states that it does not levy hidden charges, and its brokerage-charges page lists most fee items transparently. That said, several charges are easy for a new trader to overlook because they apply only in specific situations rather than on every trade:
- Call & Trade Fee: ₹20 + 18% GST per call, applying when placing, modifying, or cancelling an order via phone, often during margin shortfall or app issues.
- Square-off Charges: ₹20 + 18% GST for auto square-off of intraday/MTF positions by the system.
- AMC & Pledge Charges: AMC ranges ₹0-₹25/month + GST based on holding value slab; pledge charges range ₹12.50-₹50 + GST per scrip depending on purpose.
None of these constitute "hidden" fees in the sense of being undisclosed - they are all listed on 5paisa's official charges page - but traders unfamiliar with broker fee structures sometimes mistake situational charges for unexpected costs.
Services Offered by 5paisa
| Service Track | Availability & Capability Metrics |
|---|---|
| Customer Support | Helpline (8976689766), email, online ticketing (faq.5paisa.com), "Trade Better" community forum |
| 3-in-1 Account | Not prominently offered |
| Mutual Funds | Direct Mutual Funds at 0% commission (₹10 + GST processing charge applies) |
| Insurance | Not clearly listed on official pages |
| Bonds and Debt | Bonds and Sovereign Gold Bonds available |
| IPO Platform | Available (Mainboard and SME IPOs) |
| Digital Gold | Available |
| MTF (Margin Trading Facility) | Available as "Pay Later," up to 4X leverage on 750+ stocks |
| Commodity Trading | Available (MCX) |
| Algo Trading / API Access | Available via Xstream developer platform |
| NRI Services | Charges/details not clearly published |
Trading Tools & Platform Availability
| Tool / Platform | Available | Notes |
|---|---|---|
| Mobile App | Yes | Android & iOS, 4.3★ on Google Play |
| Web Trading Platform | Yes | No download required, mirrors app functionality |
| 5paisa EXE (Desktop Terminal) | Yes | Downloadable terminal for power users |
| FnO360 Derivatives Terminal | Yes | Live Greeks (16+ data points), strategy builder, rollover tools |
| Scalper Terminal | Yes | Built for high-frequency intraday and options trading |
| TradingView Integration | Yes | Advanced charting and technical indicators |
| Xstream API / Algo Trading | Yes | Developer APIs for systematic/algorithmic strategies |
| MCP AI Trading Assistant | Yes | Conversational, AI-assisted trading support |
| Advanced Order Types (GTT, OCO, Iceberg, Bracket/Cover) | Not officially confirmed | Not transparently published on official pricing/feature pages |
Is 5paisa Safe?
Regulatory compliance is the most objective lens through which to assess broker safety, and 5paisa's credentials check out against all primary Indian market regulators and depositories.
SEBI & Exchange Framework
5paisa holds SEBI Stock Broker Registration No. INZ000010231 and SEBI Research Analyst registration INH000025188. It is a trading member of NSE (14300), BSE (6363) and MCX (55945), and an AMFI-registered Mutual Fund Distributor (ARN-104096).
Depository Safe-keeping & Listing
Operates as a Depository Participant with CDSL (DP ID IN-DP-192-2016). Client securities are held in dematerialised form with CDSL, and 5paisa is a publicly listed company (CIN: L67190MH2007PLC289249) subject to public disclosure norms, SEBI inspection and statutory audit requirements - a layer of transparency unlisted brokers do not have by default. Investor grievance redressal is available via SEBI SCORES and the SMARTODR portal.
Pros and Cons of 5paisa
Pros
- ✓ Flat ₹20 brokerage per order across equity, F&O, currency and commodities.
- ✓ Zero account opening charges for individual accounts.
- ✓ Zero-commission direct mutual fund investing.
- ✓ Up to 4X leverage via MTF ("Pay Later") on 750+ stocks.
- ✓ Dedicated F&O terminal (FnO360) with live Greeks and strategy tools.
- ✓ Scalper Terminal built specifically for high-frequency intraday/options traders.
- ✓ Algorithmic trading support via Xstream developer APIs.
- ✓ Zero unpledge charges and relatively low margin-pledge fees.
- ✓ Publicly listed entity, adding a layer of regulatory and disclosure transparency.
Cons
- ✗ Flat-fee brokerage can be relatively expensive for very small-value trades vs percentage-based peers.
- ✗ Non-individual and NRI account opening charges are not clearly published.
- ✗ Call & trade charges apply for phone-based order placement during outages or margin shortfalls.
- ✗ MTF interest rates, while competitive, are higher than some newer-generation peers offering sub-13% rates.
- ✗ No officially published data on advanced order types (GTT, OCO, Iceberg, Bracket/Cover orders).
- ✗ Customer support is primarily digital; relationship-manager support is limited vs full-service brokers.
- ✗ No clear public disclosure on 3-in-1 banking-linked account integration.
- ✗ Promotional offers (like 0% MTF interest) are time-bound and not permanent pricing.
5paisa vs Competitors: Detailed Comparison
5paisa vs Zerodha
| Parameter | 5paisa | Zerodha |
|---|---|---|
| Account Opening | ₹0 | ₹0 |
| Equity Delivery Brokerage | ₹20/order | ₹0 (Free) |
| Intraday/F&O Brokerage | ₹20/order | ₹20/order or 0.03%, whichever is lower |
| MTF Interest (approx.) | 13.99%-14.99% p.a. | ~14.6% p.a. |
| Platform Highlight | FnO360, Scalper Terminal | Kite & Kite Connect API |
5paisa vs Angel One
| Parameter | 5paisa | Angel One |
|---|---|---|
| Account Opening | ₹0 | ₹0 |
| Equity Delivery Brokerage | ₹20/order | ₹0 (Free) |
| Intraday/F&O Brokerage | ₹20/order | ₹20/order |
| Research & Advisory | Available | Strong in-house research desk |
| Platform Highlight | FnO360, Algo APIs | SmartAPI, ARQ Robo Advisory |
5paisa vs Groww
| Parameter | 5paisa | Groww |
|---|---|---|
| Account Opening | ₹0 | ₹0 |
| Equity Delivery Brokerage | ₹20/order | ₹20/order |
| Mutual Funds | Zero Commission Direct Plans | Zero Commission Direct Plans |
| Platform Focus | Derivatives & Algo Trading | Simplicity & Beginner-Friendly UI |
5paisa vs ICICI Direct
| Parameter | 5paisa | ICICI Direct |
|---|---|---|
| Broker Type | Discount Broker | Full-Service Broker |
| Equity Delivery Brokerage | ₹20/order (Flat) | Percentage-based (Typically Higher) |
| 3-in-1 Account | Not Available | Available (Bank + Demat + Trading) |
| Research & Advisory | Limited | Extensive In-House Research |
5paisa vs Motilal Oswal
| Parameter | 5paisa | Motilal Oswal |
|---|---|---|
| Broker Type | Discount Broker | Full-Service Broker |
| Equity Delivery Brokerage | ₹20/order (Flat) | Percentage-based (Typically Higher) |
| Advisory Services | Limited | Strong PMS, Research & Advisory |
| Best Suited For | Cost-conscious & active F&O traders | Investors wanting guided/advisory support |
Who Should Use 5paisa?
- Active F&O traders who want dedicated tools like FnO360 and live option Greeks.
- High-frequency intraday and scalping traders who value the Scalper Terminal.
- Algorithmic and systematic traders who want direct API access via Xstream.
- Cost-conscious traders executing higher-ticket-size trades, where flat ₹20 brokerage is efficient.
- Investors who want zero-commission direct mutual fund investing alongside trading.
- Traders interested in using MTF ("Pay Later") for leveraged delivery positions.
Who Should Avoid 5paisa?
- Very small-ticket-size traders for whom a flat ₹20 fee represents a high percentage cost.
- Investors who specifically want an integrated 3-in-1 banking + trading + demat account.
- Traders who rely heavily on dedicated relationship-manager or advisory support.
- NRI investors who need fully transparent, pre-confirmed account-opening cost structures upfront.
- Investors who require officially confirmed support for advanced order types like GTT, OCO, or Bracket Orders before committing.
5paisa Ratings Breakdown
Flat ₹20 per order across segments, fully disclosed tariff sheet.
Multi-platform ecosystem: app, web, EXE desktop, FnO360, Scalper Terminal.
FnO360 with live Greeks, strategy builders and one-tap rollover.
Primarily digital support model; response-time data not officially published.
Free individual account opening removes a common entry barrier.
SEBI registered, listed entity, active exchange and CDSL memberships.
Expert Verdict on 5paisa
5paisa has matured from a low-cost entrant into a fairly complete discount-broking ecosystem, and the 2026 version of the platform reflects that evolution. Its core proposition - a flat ₹20 per executed order across virtually every trading segment, paired with zero account-opening charges - remains competitive within the discount-broking space, even as some newer entrants have pushed toward zero-brokerage delivery models. Where 5paisa distinguishes itself is not in headline pricing alone, but in the depth of its derivatives and algorithmic-trading tooling: FnO360, the Scalper Terminal, and the Xstream API suite collectively give active F&O traders and systematic traders a toolkit that goes beyond what a typical discount-broker app offers.
On regulatory footing, 5paisa checks every box an investor should look for, and the added transparency of being a publicly listed company subject to ongoing disclosure obligations places it firmly among India's credible, compliant discount brokers. The areas that warrant caution are largely informational rather than structural: certain charges and advanced order-type capabilities are not transparently confirmed on the broker's public pricing pages, which does not necessarily mean they are absent, but does mean a prospective customer should confirm them directly before relying on them. On balance, 5paisa is well suited to retail traders who prioritise flat, predictable brokerage, active F&O and algorithmic traders who want dedicated tooling, and investors who want to combine trading with zero-commission direct mutual fund investing under one account.
