There is no doubt that 5paisa has climbed the ranks exponentially in a short period. With the many great features, it has to offer; the company has to rectify some major flaws that might cause users to look elsewhere for all trading purposes. Opening a Demat and trading account with them might result in a few setbacks based on your trading and investment desires.

Disadvantages of Opening Demat and Trading Account with 5paisa

1. The feasibility of having multiple watchlists isn't available. Users can only have one watchlist with an absolute number of stock monitoring.

2. Unlike other stock brokers, the brokerage fee is relatively high, where it can be either 25 rupees per trade or 0.025% of the trade executed; whichever is lower.

3. There is a 100 rupees cost incurred on the user for call and trade facility. It is charged even if the trading platforms aren't working correctly, which is unfair.

4. Exchange transaction costs are the highest with 5paisa when compared with other stock brokers.

5. The mobile application is quite weird. It tends to promote other products and services from different companies, which might be odd.

6. There no service for adhering to NRI trading services, and it hasn't been rectified yet.

7. Those looking to trade in the commodities, then look elsewhere as 5paisa doesn't offer to trade in the particular segment.

8. The customer care service is abysmal. Even if you try to contact them, getting your problem rectified would take several days to rectify, even for the smallest hurdles faced in using the stock brokers' services.

9. No doubt, 5paisa does provide and an extensive array of brokerage plans. Each of these brokerage plans is catered towards monthly and yearly plans where the brokerage differs significantly from the plan you choose. There is no specific brokerage amount.

10. The availability of a 3-in-1 account isn't there. You can avail of 2-in-1 accounts if you please.

11. If you choose the basic plan, then you get the bare minimum of trading services, and that's it. If you're looking for research oriented advisory services, those come in the premium packages, which costs significantly higher.

12. Almost all the recommendations provided by 5paiss in terms of investment strategies and trading operations are automated and operated via machine learning. Though it might be useful now, it does have its shortcomings in the future. Moreover, the algorithms encoded to provide recommendations have to be updated, which may or may not be done given the vastness of stock brokers.

5paisa Review

5paisa is quite the capable discount stock broker that offers explicit services and features to its users. The cons of using the 5paisa is overshadowed by the advantages and could be overlooked. These are quite minimalistic and don't bother users in the long run. Provided if you do stumble upon them, then it might get a bit tedious to get out of the situation quickly.