Zerodha
India's largest stockbroker by client base
4.6/ 5
Best for: Cost-conscious DIY investors who mainly buy-and-hold stocks or trade F&O occasionally.
Compare Zerodha with others →5paisa review
Budget flat-fee broker from the IIFL group
4.0/ 5App: 4.2/5
- Since 2016
- Delivery ₹20 per order
- AMC Varies by plan — verify
Fees & pricing4.4
Trading platforms3.7
Customer support3.5
Research & education3.3
Ease of opening4.0
Reviewed by LetsInvest Research DeskUpdated 13 Sept 2026Pricing verified 13 Sept 2026How we test
Overview
5paisa is a discount broker offering flat-fee plans across equity, F&O, IPOs and mutual funds, aimed at price-sensitive self-directed investors.
Best for: Budget investors who want the lowest headline fees and can self-serve.
Pros & cons
What we like
- Flat ₹20 pricing across segments
- Low-cost entry plans
- IIFL-group backing
- Auto-invest and research add-ons
Watch out for
- App UX lags newer rivals
- Add-on fees need attention
- Support is hit-or-miss
Fees & charges
Account charges
- Account openingOne-time charge to open your demat + trading account. Many discount brokers have made this free.
- ₹0Confirming
- Annual maintenance (AMC)Yearly demat maintenance, charged by the broker (separate from CDSL/NSDL custodian fees). Often free for the first year.
- Varies by plan — verifyConfirming
Equity
- Equity deliveryBrokerage when you buy shares and hold them overnight or longer. This is the charge long-term investors should minimise.
- ₹20 per orderConfirming
- IntradayBrokerage on same-day buy-sell trades. Percentage caps (e.g. 0.03%) protect small orders from the flat fee.
- ₹20 per orderConfirming
Derivatives (F&O)
- OptionsPer-order charge for options buying/selling. Excludes STT, exchange and SEBI charges, which apply equally everywhere.
- ₹20 per orderConfirming
- FuturesPer-order charge for futures trades. Same statutory extras as options apply on top.
- ₹20 per orderConfirming
Sources: official broker pricing pages. Figures marked “Confirming” are being re-verified — always confirm before trading.
Platforms & features
platforms
- Mobile app✓ · 5paisa app
investing
- IPO investing✓ · Supported
research
- Research & advisory—
Our verdict
5paisa competes on price alone. Compare the total cost of plans and add-ons with Zerodha/Dhan before deciding.
How to open a 5paisa account
Start your application
Open the 5paisa signup with your mobile number and email — it takes about 10 minutes.
Complete e-KYC
Verify with PAN, Aadhaar-based OTP, a live selfie and your bank proof (cancelled cheque or statement).
E-sign documents
Digitally sign the account-opening form and nomination details via Aadhaar e-sign.
Get your client ID
Activation usually takes 24–48 hours. Your login credentials arrive by email and SMS.
Alternatives to 5paisa
Groww
Beginner-friendly investing super-app
4.5/ 5
Best for: Beginners and mutual-fund investors who want one simple app for everything.
Compare Groww with others →Upstox
Low-cost broker with fast trading tools
4.3/ 5
Best for: Mobile-first traders and developers who use trading APIs.
Compare Upstox with others →Affiliate disclosure: LetsInvest earns a commission if you open an account via links on this page — at no extra cost to you. Rankings are editorial and never sold. Read how we make money and our methodology.
How we research. Every fee on this site carries a source and a verification date. Data is re-checked against official broker pages; read our editorial methodology. LetsInvest is a research publication, not a financial adviser — see our terms.