Trading since 2015! Recently opened an account with 5Paisa, haven't moved funds yet...
Sadly, even in 2022 most of our domestic brokers generally lack platform stability and OMS/RMS issues are a common phenomenon, that mostly lead to:
order placement issues,
order execution issues,
unable to exit position,
potential loss for not being able to enter a favorable position,
even not able to login.
Net-net clients are prone to financial losses despite their best efforts and no fault.
Much worse no one takes responsibility of such misdeeds. A pet statement is often used, "internet issues are unavoidable". Also have seen brokers admitting to the fact that either their leased line or issues at any of their XYZ vendor caused the such mishaps, yet has never shown an iota of tenacity to revert client's hard earned money.
The onus is always thrown back at the client. To further dismay, complaining to the Exchange and SEBI does not help either. The broker gets away 99% of the time!
My current broker's platform is rock solid, and, trading with them for last 2 years very peacefully with a handsome capital. 5Paisa advertises few unique features that attracted me.
Considering the aforementioned concerns and after reading this mouthshut article
(1 star, 16% rating of 2,212 votes) I am in true dilemma whether I made a right choice opening an account here?
What's your take...