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5paisa Review
5paisa is an Indian discount stockbroker regulated by SEBI that charges a flat Rs 20 brokerage fee per order, not a global retail forex or CFD provider.
Min Deposit
N/A
Spreads From
Not applicable, 5paisa charges a flat Rs 20 brokerage fee per order instead of a spread
Max Leverage
Up to 4x through its Margin Trading Facility, varies by security
Platforms
5paisa Mobile App, Trade Station Web
Pros
- Registered stock broker with real SEBI, NSE, BSE, MCX, and CDSL licenses
- Flat Rs 20 brokerage per order across equity, derivatives, and commodities
- Free account opening with no fixed minimum deposit needed to start
- Publicly listed on the BSE and NSE with public financial disclosures
- Stayed online during the December 2025 outage that hit rival broker apps
Cons
- Fined Rs 3 lakh by SEBI in October 2025 for bond platform sales lapses
- Only opens accounts for Indian residents, not NRIs or other countries
- Not a real forex or CFD broker despite appearing in some forex listings
- Users report app slowdowns and glitches during high volume trading
5paisa Capital Limited was registered as a company in 2007. IIFL Holdings later used it for a new discount broking arm, then demerged that business in 2016. The independent 5paisa brand listed on the BSE and NSE in November 2017. Its registered office is in Thane, near Mumbai, and the firm is now led by CEO Gaurav Seth.
5paisa shows up on some forex broker lists, but it is not built for global currency trading. It is an Indian stockbroker for equity, derivatives, currency contracts, and MCX commodities, plus mutual funds. Brokerage is a flat Rs 20 per order, and account opening is free.
5paisa is a member of the NSE, BSE, and MCX, with a SEBI broker license and a CDSL depository license. In October 2025, SEBI fined the firm and two former officers Rs 3 lakh after its bond platform marketed risky bonds as safe products. It stayed online during a December 2025 outage that hit rival apps. 5paisa only serves Indian residents and remains active in 2026.
Max Leverage
Up to 4x through its Margin Trading Facility, varies by security
Spreads From
Not applicable, 5paisa charges a flat Rs 20 brokerage fee per order instead of a spread
Platforms
Regulation, fund safety, track record
Spreads, execution, leverage
Platform quality, charting, features
Analysis, webinars, learning materials
Support quality, responsiveness
Mobile app quality, features
