In the explosive growth of Indian retail investing, discount brokers have emerged as crucial enablers. Two major contenders Zerodha and 5paisa stand out for their innovative offerings and competitive pricing models. Zerodha, pioneered by Nithin Kamath, has led the charge with cost-effective trading and a robust, minimalist experience. Meanwhile, 5paisa, as a publicly listed fintech, has carved a niche by combining flat-fee pricing with a broader ecosystem of services, advisory, and research.
So, which broker is better? The answer depends on your trading style, cost sensitivity, need for research, and preference for value-added features. Let’s break it all down.
Brokerage & Costs
Zerodha:
- Equity Delivery: ₹0 (zero brokerage)
- Intraday, F&O, Commodities: ₹20 per executed order or 0.03%, whichever is lower
- Account Opening: ~₹300 (₹200 trading + ₹100 commodity)
- Demat AMC: ₹300/year
5paisa:
- Flat ₹20 per order across all segments—equity, intraday, F&O, commodity, currency
- Account Opening: ₹0 in some plans; other comparisons show ₹650
- Demat AMC: ~₹300–₹540 per year depending on holdings
Verdict: For delivery trades, Zerodha wins with ₹0 brokerage. In leveraged or frequent trading, both are similar cost-wise—but Zerodha’s flexible 0.03% cap may prove cheaper for higher value trades.
Platform, Tools & Technology
Zerodha:
- Platform: Kite (web + mobile) known for speed, basket orders, charting, and depth.
- Ecosystem: Console for reporting, Coin for mutual funds, Varsity for learning
5paisa:
- Tech suite: TradingView & ChartIQ-based charts, option chain, strategy builder, workspace customization, and algorithmic trading APIs
- Offers robo-advisory, mutual fund research, model portfolios, and paid advisory packs
Verdict: Zerodha excels in intuitive, reliable trading with free learning. 5paisa is feature-rich, ideal for technical traders and those seeking advisory services.
Research & Advisory
Zerodha remains neutral, focusing on education—not stock recommendations or advisory.
5paisa offers advisory services—both free insights and paid research models, stock baskets, and robo-advisory—at competitive pricing.
Verdict: Choose 5paisa if you want structured guidance; opt for Zerodha if you prefer independent investing with educational support.
Customer Support & Trust
On the trust side, Zerodha enjoys top-tier reputation and transparent operations.
On Reddit:
“I have been a client with other brokers… I never faced this kind of problems” — referring to issues with 5paisa lagging in crediting funds
“5paisa isn’t very transparent… they sell contacts—spammed daily. I switched back to Zerodha.”
Verdict: Zerodha remains more trustworthy, with fewer user-reported service issues.
Current Events Impacting Platforms
Zerodha recently faced a technical glitch on September 3, 2025, that disrupted logins and price updates—raising concerns about system resilience.
Ideal User Personas
| Profile | Best Option | Why |
| Long-term investors | Zerodha | Zero delivery brokerage, trust, simple UI |
| Intraday/F&O/High-frequency traders | 5paisa or Zerodha | 5paisa has flat ₹20 brokerage; Zerodha may be cheaper for high-value trades |
| Technical/Algo traders | 5paisa | Advanced tools, strategy builder, APIs |
| Beginner or learner | Zerodha | Varsity and simpler UI |
| Advisory seekers | 5paisa | Research and robo-advisory services |
| Security-conscious users | Zerodha | Better customer feedback and trust |
Pros & Cons Summary
Zerodha
- Pros: ₹0 delivery brokerage, robust platforms, educational ecosystem, trusted.
- Cons: Delivery brokerage not applicable, outage concerns, minimal advisory.
5paisa
- Pros: Flat fee plan, deep tools and advisory, API support, inclusive ecosystem.
- Cons: Delivery brokerage costs, mixed user feedback on transparency and support.
Conclusion
Zerodha stands out for low-cost delivery investing, reliable infrastructure, educational strength, and trust. It’s ideal for cost-conscious long-term investors and DIY learners.
5paisa, by contrast, impresses technical traders and users who value advisory, research, and tool-rich platforms—even if that means paying ₹20 per delivery trade and handling occasional support concerns.
In short:
- Choose Zerodha if you prioritize simplicity, low cost, and reliability.
- Choose 5paisa if you need a feature-dense, advisory-led platform with rich technical tools.
