Zerodha vs 5paisa
Zerodha and 5paisa are both discount stockbrokers in India operating a flat-fee model, though they differ in scale, parent company backing, and product breadth. Zerodha was founded in 2010 and is the market-share leader by NSE active clients. 5paisa (styled as 5paisa Capital) is a subsidiary of IIFL Finance (formerly India Infoline Finance) and was launched as a separate discount-broker brand in 2016, positioning itself around a Rs 20 flat-fee structure and a research-integrated mobile app.
Data reflects May 2026; verify current charges at zerodha.com/charges and 5paisa.com before transacting.
Background
5paisa Capital Limited was incorporated in 2007 (as a broking entity) and the 5paisa brand was established in 2016 when IIFL restructured its retail broking into a separate listed entity. 5paisa is listed on NSE and BSE (ticker: 5PAISA). It targets self-directed retail investors and active traders with a focus on low brokerage and an in-app research and advisory layer. Its parent IIFL Finance provides distribution muscle across India.
Brokerage charges
| Charge head | Zerodha | 5paisa |
|---|---|---|
| Equity delivery | Zero | Zero |
| Equity intraday | Rs 20 or 0.03% | Rs 20 flat |
| Equity futures | Rs 20 or 0.03% | Rs 20 flat |
| Equity options | Rs 20 flat | Rs 20 flat |
| Currency futures | Rs 20 or 0.03% | Rs 20 flat |
| Commodity (MCX) | Rs 20 or 0.03% | Rs 20 flat |
| Account opening | Zero | Zero to Rs 500 (plan-dependent) |
| Demat AMC | Rs 300/year | Rs 0-450/year (plan-dependent) |
| Call-and-trade | Rs 50/order | Rs 10/order surcharge |
5paisa offers subscription plans (“Ultra Trader”, “Power Investor”, and variants) at different monthly fees that affect per-order brokerage and AMC. Under its Ultra Trader plan (a paid subscription), brokerage can be reduced to zero per order for intraday trades. Investors should account for the total cost (plan subscription plus per-order fee) when comparing with Zerodha’s standard charges.
5paisa’s call-and-trade surcharge of Rs 10 per order is notably lower than Zerodha’s Rs 50.
Trading platform
Zerodha’s Kite is available on web and mobile with advanced charting and order types. 5paisa’s app and web platform include an integrated research panel with analyst recommendations, market news, and a robo-advisory service for mutual funds. The research integration is a feature absent from Zerodha’s platform.
Research and advisory
5paisa, backed by the IIFL group, provides equity research and analyst-curated stock baskets within its app. This advisory layer is designed for investors who want guidance alongside execution. Zerodha does not provide recommendations.
Mutual funds
5paisa offers direct-plan mutual fund investments (unlike some bank-backed brokers that default to regular plans), positioned at no additional charge. Zerodha’s Coin charges Rs 50 per month for active mutual fund holdings after the first year. For mutual-fund-only investors, 5paisa’s no-fee direct MF access is a relevant comparison point.
Regulatory standing
5paisa Capital is listed on NSE and BSE (ticker: 5PAISA) and files quarterly disclosures. It is registered with SEBI as a stockbroker, depository participant, and research analyst. SEBI SCORES complaint data for recent quarters shows 5paisa within normal ranges for its client scale (~1-2 million NSE active clients as of late 2024).
Summary comparison table
| Dimension | Zerodha | 5paisa |
|---|---|---|
| Founded | 2010 | 2016 (brand) |
| Parent | Private | IIFL Finance (listed) |
| NSE active clients (approx.) | ~7 million | ~1-2 million |
| Delivery brokerage | Zero | Zero |
| Intraday brokerage | Rs 20 or 0.03% | Rs 20 flat (plan-dependent) |
| Options brokerage | Rs 20 flat | Rs 20 flat |
| Demat AMC | Rs 300/year | Rs 0-450/year |
| Mutual funds | Direct (Coin, Rs 50/mo after yr 1) | Direct (free) |
| Research | None | In-app analyst research |
| Call-and-trade | Rs 50/order | Rs 10/order |
| API | Kite Connect (Rs 2,000/mo) | 5paisa API (available) |
See also
- Zerodha
- 5paisa
- Zerodha vs Groww
- Discount brokers in India
- Full-service vs discount broker
- Indian retail brokers comparison
References
- Zerodha charge schedule. zerodha.com/charges (accessed May 2026).
- 5paisa charge schedule. 5paisa.com (accessed May 2026).
- NSE active client data. nseindia.com (accessed May 2026).
- 5paisa quarterly disclosures, Q3 FY 2025. NSE filing (5PAISA).
- SEBI SCORES grievance data, Q3 FY 2025. sebi.gov.in.