Unlimited Trading @ Rs 899 per month - Prostocks

5paisa Customer Reviews, Complaints and Feedback (Page 2)


45.98% 147,499 Clients

5paisa is a Mumbai based India's 2nd largest discount broker. 5paisa is part of India Infoline (IIFL), India's leading financial services company. 5paisa was re-launched with new brokerage model for online retail broking services in late 2016. India Infoline, the parent company, was incorporated in 1995. IIFL group offers wide range of financial products through over 1000 branches. IIFL (a traditional brick-and-mortar broker) used 5paisa brand for its online retail broking business for many yea... 5paisa Review
Special Offer: FREE Account Opening (₹650 waived) + Pay-as-you-go Demat AMC + FREE Mutual Fund Account + Trade at flat ₹10 per order. Get the offer

5paisa Ratings

Overall Rating Rated 2.9 stars 2.9/5
Fees Rated 3.1 stars 3.1/5
Brokerage Rated 3.9 stars 3.9/5
Usability Rated 2.9 stars 2.9/5
Customer Service Rated 2.2 stars 2.2/5

Based on 54 Votes by 5paisa Customers

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85 Comments

rahul
65. rahul  Apr 24, 2019 14:13 Reply
It is very cheap and value for money is good. I have not found any major customer service related issues so far. I have been using 5paisa for last 2 years.

Ratings:

Brokerage - Excellent
Account Maintenance Fees - Above Average
Website Usability - Above Average
Customer Service - Excellent
Overall Experience - Excellent
pravin wasnik
64. pravin wasnik  Apr 17, 2019 21:23 Reply
Null customer support, they are not albe to resolve customer query. they do not need customer.

Ratings:

Brokerage - Average
Account Maintenance Fees - Very Poor
Website Usability - Very Poor
Customer Service - Very Poor
Overall Experience - Very Poor
Rajesh
63. Rajesh  Apr 17, 2019 11:24 Reply
Weekly Dp Charges not mention in the their site..

Ratings:

Brokerage - Very Poor
Account Maintenance Fees - Very Poor
Website Usability - Very Poor
Customer Service - Very Poor
Overall Experience - Very Poor
Dhileepan
62. Dhileepan  Mar 12, 2019 13:38 Reply
5 paisa is worst brokerage i have ever used. They do not have concern to talk to customer in customer service. If you transferred money to their account. You need to send screenshot and message from from the bank to their support. They will never ad your funds. If you called they will say within 2 hours it will updated. After 2 hours call again and shout their answer will be "I will understand" they are not recruiting even people good in communication. Its not happened 1st time. Its happening for me 10th time. Every time i want to lose my temper and shout then only they will proceed. I am in abroad now how to call them freely. Even if you said this they will put your call on hold for more than 10 mins. First work to do when came back to India is closing this irritating 5 paisa account. Hate their service.

Ratings:

Brokerage - Average
Account Maintenance Fees - Below Average
Website Usability - Below Average
Customer Service - Very Poor
Overall Experience - Very Poor
MAHESH VASUDEV GOKHALE
61. MAHESH VASUDEV GOKHALE  Feb 2, 2019 23:38 Reply
Hi:
My name is Mahesh Gokhale and my 5paisa customer ID: 58121962.
I would soon be closing it after 31st March.

This is the worst brokerage firm I ever found. Such a stupid firm that does not provide any report on your Profit and Loss statement. They simply don't have such a report.

Highest DP charges. Their mobile application hangs when you need it the most. On a business day between 2:45 pm to 3:25 pm, most of the times, your orders wont make it to NSE. After that there is no use.

I wrote an email to grievance department as well as compliance department for providing proper Profit & Loss statements and other issue and they sent me links for the reports.

You know what, they don't know how to generate professional reports.
Their P&L reports are missing Total. They have very substandard reports for any of the segment.

I would advise you not to join if you are thinking of joining it for the sake of 10 rupees of brokerage.

Go to some professional brokerage firm instead.

Thanks
Mahesh
Sachin Kumar Singh
60. Sachin Kumar Singh  Jan 12, 2019 17:58 Reply
Customer service is very low level.... don't believe on this brokerage house.


Ratings:

Brokerage - Excellent
Account Maintenance Fees - Very Poor
Website Usability - Very Poor
Customer Service - Very Poor
Overall Experience - Very Poor
pankaj
59. pankaj  Jul 30, 2018 13:49 Reply
its to third class broker service. Its waste of money as well time. They dont care about our money .

Ratings:

Brokerage - Very Poor
Account Maintenance Fees - Very Poor
Website Usability - Very Poor
Customer Service - Very Poor
Overall Experience - Very Poor
FivePaisa
59.2. FivePaisa  Aug 20, 2018 11:23
Hi Pankaj, We are deeply sorry to hear your feedback. If you are facing any issue we request you to kindly mark a mail to us at support@5paisa.com along with your client code to address your issue at the earliest.
Lipika Das
59.3. Lipika Das  Jan 8, 2019 17:25
I think you have not came across real 3rd class brockerage house till now. If 5paisa is 3rd class then there are no 1st class brocker in India. Sorry my friend I would recommend everyone 5paisa because they are much much better than others in every aspect.
Lipika Das
58. Lipika Das  Jan 8, 2019 17:16 Reply
The best discount brocker. I have another Demat account at Axis Securities. But since I opened my account at 5 paisa I started trading here and like to close my account at Axis direct shortly. 5 paisa charging only 10 rs flat brockerage. The advantage of flat brokerage is that as many as quantity purchased, the real costing value of a stock become cheaper even adding all the other applicable taxes like STT, GST, transanction charges, stamp duty etc. Where as Axis direct charging 0.5% for delivery and 0.05% for intraday trading. In a same trading I can get much more profit in 5paisa than Axis direct. Another point is that Axis direct is charging 0.06% not less than 50 rs for stock sell out from demat. Where 5paisa charge only 25 rs flat.
I was novis and fall in trap by the agent that I have opened account in Axis direct. Later I have searched in the net and found this Chittorgarh.com and got lot of knowledge about brockerage houses and their charges, facilities. Thanks to Chittorgarh.com for showing me path and helped me to choose the right brockerage house.
I wish and hope that every new invester before opening a Demat account, go through Chittorgarh.com and find a brockerage house of there choice. But I would suggest everyone of my near and dear to go with 5paisa.
Pros about 5paisa
1. Discount brokerage. Only 10 rs flat for all segment.
2. Mobile app is good and user friendly. I like the Mobile app. Much better than Axis direct.
3. Contact note is pitty clear about charges and taxes deducted. No hidden charges.
4. Pay out is also hazard free. Just go to payout option and claim your payout. The money will be cradited in the linked bank account within 2 working days.
What more we want?
I pray for every new comer not to fall in trap by the agents and get some knowledge before opening an account and investing in stock market. Good save them.
Anand
57. Anand  Jan 7, 2019 15:16 Reply
Guy please, don't go for 5PAISA. It's totally insane, idiotic and pathetic service. Sometimes the app/desktop buy and sell shares it self. Lost week Ilost 4500 and today around 2000 due to this. Sometimes you cannot square off your orders. lost my hard earned money in 5Paisa only reason their pathetic service. Whatever complaint you raise through email, they simply reply please check your bill and if u call customer care they will give u two choices, please send us mail or speak with trade section. You know what is the charge for speaking with trade section ? 100 rupees per minute ! yes its true. They are pathetic brokers. No way you can earn money in 5PAISA.
DEEPAK SINGH BISHT
56. DEEPAK SINGH BISHT  Jan 7, 2019 08:56 Reply
Good experience specially because of low brokerage charges but still improvement required in website usability.

Ratings:

Brokerage - Excellent
Account Maintenance Fees - Average
Website Usability - Average
Customer Service - Above Average
Overall Experience - Above Average
Gomes
55. Gomes  Dec 26, 2018 16:57 Reply
There are many worst experiences with 5 Paisa.

1. Poor and non-responsive customer service. Lethargic responses for call and mail. No responses for mails mostly.
2. Frequent server issues
3. Technical issues - My account says I have open positions though i have squared off. Their system says there are no positions. Later, it is Vice Versa.
4. Details on account closing procedure were not provided though I have requested multiple times.
5. Sorry is the only word in their trade dictionary.

Ratings:

Brokerage - Below Average
Account Maintenance Fees - Average
Website Usability - Very Poor
Customer Service - Very Poor
Overall Experience - Below Average
Akshay Kumar N S
54. Akshay Kumar N S  Dec 9, 2018 09:50 Reply
when i start trade in 5paisa the app and website is not user friendly but now they developed app and new website it is very good mainly i recommended who do daily trade it is very helpful because the broker charges is only 10 rs per order

Ratings:

Brokerage - Excellent
Account Maintenance Fees - Excellent
Website Usability - Above Average
Customer Service - Above Average
Overall Experience - Excellent
Unkown
53. Unkown  Dec 7, 2018 07:03 Reply
No user friendly, trading platform is not Good
App,site open karne ke bad trading karne ka mann hi nahi hota money control jaisa app hai

Ratings:

Brokerage - Below Average
Account Maintenance Fees - Very Poor
Website Usability - Very Poor
Customer Service - Very Poor
Overall Experience - Very Poor
Deepak Mewada
52. Deepak Mewada  Nov 20, 2018 17:08 Reply
Worst ever experience with 5paisa.. before solving issue they mail that the issue has been solved.. at last i wanted to close my account with 5paisa and they just said regards sorry.. but there were no steps to close account on 5paisa.. you can pay them but can ask them to pay you back you amount.. like while redeem also they ask for a minimum balance i mean WTF its my money i need to withdraw WhoTF are you to stop me doing that.. cheap customer support..

Ratings:

Brokerage - Very Poor
Account Maintenance Fees - Very Poor
Website Usability - Very Poor
Customer Service - Very Poor
Overall Experience - Very Poor
Amit
51. Amit  Nov 3, 2018 23:41 Reply
As a Customer I am very annoyed with 5paisa.
1. Very poor customer services in all.
2. No proper updating of account.
3. Delayed in allotment of mutual funds unit.
4. Paying always not working last one month.
5. Non professional approach.
6. Truly headache.
7. Never keep their promise.
Ashish
50. Ashish  Oct 25, 2018 12:11 Reply
I'm a account holder in 5paisa.com and I want to share my bad experience with this broker firm. It has not only brokerage charges but also many hidden charges like DP charges. Its app is also not capable enough and not working properly in last hours of trading.

Ratings:

Brokerage - Very Poor
Account Maintenance Fees - Very Poor
Website Usability - Very Poor
Customer Service - Below Average
Overall Experience - Very Poor
Mahendra
49. Mahendra  Oct 9, 2018 23:01 Reply
one of a worst customer care service . has opened account with 5 paisa and applied to segment modification with future and option . the person who came to collect form not told where to sign for accounts. and asked customer care how to activate they told will activate from back end . then they told have to follow some procedure twice did courier to them with proof of required documents . now they told reason others . not activated each person tells new story. not at all quality providing service . Looks like just collect money n then let customer run behind them. Complete Discount Broker and Discounted Service. No one Observing Quality of Customer care service. very worst experience. instead pay some money and open account with good broker. Service is important not such worst one.
Bikash Chaudhury
48. Bikash Chaudhury  Sep 16, 2018 15:34 Reply
Like Delivery trade brokerage fee of Rs. 10. Customer service is not so good

Ratings:

Brokerage - Above Average
Account Maintenance Fees - Above Average
Website Usability - Above Average
Customer Service - Below Average
Overall Experience - Above Average
abcd
47. abcd  Sep 11, 2018 00:29 Reply
highest DP holding charges

Ratings:

Brokerage - Excellent
Account Maintenance Fees - Excellent
Website Usability - Excellent
Customer Service - Very Poor
Overall Experience - Below Average
Arun
46. Arun  Sep 4, 2018 18:18 Reply
Does exactly what is the name,
Third Class service never open the account with 5paisa
I opened the A/c with 5paisa and with in one month submit the closure form for closing the A/c.
Reason:
1. DP Charges : They charged the DP charges on every transaction, while your transaction is on T1 day
and if you have 100 shares of xyz company and sell it at same time and your shares sells in 3 slots like 20, 30 and 50 (depends on exchange price trigger) then 5paisa charged the DP charges 3 times (29.5x3)
while as per the rule only single DP charge applicable on one demat exit.

2. Cheap customer care service.
3. If you have any problem related to your share transaction then they charged Rs. 100 for one call.
4. when I apply the Closure form they reject it after 25 days with out a valid reason again I need to submit the new Closure form but this time I complaint this with the CDSL and as well as SEBI.
and finally after 40 days my A/c closed after so many complaints with SEBI and CDSL.

and many more reasons

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