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5paisa Review 2026

IIFL-backed listed discount broker with flat ₹20 pricing.

Rating
3.8/5
Users
3.85 lakh active
Founded
2017
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Key Features

  • ✓ Flat ₹20 per order across all segments
  • ✓ IIFL research heritage — institutional-grade research access
  • ✓ Listed on BSE — added transparency
  • ✓ 1-month brokerage-free trading on new accounts
  • ✓ Direct mutual funds at zero commission

Fee Structure

Account Opening₹0 (waived from ₹650)
Annual Maintenance₹300/year (₹75/quarter)
Equity DeliveryFlat ₹20 per order
Equity IntradayFlat ₹20 per order
F&OFlat ₹20 per order
IPO Application₹0
Mutual Funds₹0 commission

Pros

  • + Publicly listed on BSE — added transparency
  • + IIFL research pedigree
  • + Simple flat fee across all segments
  • + Free account opening
  • + Good for active traders

Cons

  • − AMC charges (₹300/year) — not free like Groww
  • − Smaller user base vs Zerodha / Angel One / Groww
  • − Platform not as polished as competitors
  • − Customer support can be slow
  • − No offline branch presence

How to Open a 5paisa Account

  1. 1Visit 5paisa.com or download the app
  2. 2Sign up with your mobile and verify via OTP
  3. 3Complete KYC with PAN and Aadhaar
  4. 4Link your bank account
  5. 5e-sign with Aadhaar OTP to activate the account

How to Apply for an IPO on 5paisa

  1. 1Log in to the 5paisa app or website
  2. 2Go to IPO section under Investments
  3. 3Select the IPO and choose your lot quantity
  4. 4Enter UPI ID and bid at Cut-Off price
  5. 5Submit and approve the UPI mandate

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Frequently Asked Questions

Is 5paisa a reliable broker?

Yes — 5paisa is backed by IIFL, listed on BSE, and SEBI-registered. Despite being smaller than Zerodha or Groww, it has a solid track record since 2017.

Does 5paisa charge for IPO applications?

No — IPO applications are free. ₹20 brokerage applies when you sell shares after listing.

What is 5paisa's AMC charge?

₹300/year (₹75 billed quarterly). First year AMC is often waived in promotional offers — check current offer before opening.

Can I apply for SME IPOs on 5paisa?

Yes. 5paisa supports IPO applications on NSE and BSE platforms including SME IPOs.

Is 5paisa good for beginners?

5paisa is decent but Groww or Zerodha are better for beginners due to cleaner interfaces and stronger support communities.