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IIFL Review

IIFL Securities Review

IIFL Securities, a full-service stockbroking firm, is one of the leading financial services providers in India. It is a stockbroking house from IIFL Holdings Limited that offers innumerable services including loan offerings, mortgages, and brokerage services.

IIFL was incorporated in the year 1995 and the firm has been continuously growing since then with leaps and bounds. The company, by now has, more than 4500+ branches spread in over 900+ cities all across the country.  The company has international presence as well which includes offices in Dubai, Hong Kong, New York, Singapore, London, Mauritius, and Geneva.

The financial products offered by the stockbroking firm to its customers include stocks, commodities, derivatives, insurance, FDs, IPOs, Bonds, and Loans, etc. The financial products are offered to both retail and institutional investors by the firm.

IIFL, apart from the wide range of products offered, is also famous for its advanced in-house research, advisory and customer support services. Customers at IIFL receive award-winning research services along with other benefits like Mutual Fund Investments, Fixed Income Investment Instruments, PMS, advisory, dedicated relationship manager, and integrated trading platforms.

IIFL was awarded as the “Best Broker with Global Presence” at the BSE IPF. The company aims at continuously reinventing and innovating new strategies and hence has managed to set digital footprints in the trading world.

Trading at IIFL Trading at IIFL allows its customers to buy and sell shares by paying a small amount of brokerage charge which is to be paid as a commission to the broker.

The advanced trading tools and platforms introduced by IIFL offer its customers a seamless trading experience.

Mobile app – IIFL markets app

In order to trade through IIFL in the stock market, the trader is required to open Demat and Trading account with the company. A Demat and a Trading account is the prerequisite for people willing to invest and trade in stock market.

By opening an account with IIFL, the customer gets a wide range of financial products to invest and trade in across the leading stock exchanges in India. The perfect combination of technology and research facility offered by the stockbroking firm will help you maximize your returns and reap all the benefits of stock market trading. The advanced research facility offered by IIFL reduces the risk to which a trader is exposed thereby increasing his chances of making good profits from stock market investments.

A bunch of features, apart from Account Opening and Advisory and Research facilities offered by the company add on to the overall trading experience of the customers. These features include two-factor authentication, single login, advanced trading platform, and low brokerage charges to name a few.

How to Open Demat Account with IIFL

 Opening a Demat and Trading Account is a simple and easy to follow process that makes it altogether convenient for the investors and traders to enter the stock market trading world. IIFL offers both online and offline account opening facility to its customers.

Online Account Opening

To open an account online with IIFL you can simply follow the below mentioned steps:iifl-open-account

  • Visit the company’s official website , click here ->
  • Click on Open a trading account option
  • Enter the basic details required for you to be filled for opening your account
  • You will soon receive a one-time password (OTP) on the mobile number shared by you
  • You will also receive a link on your registered email id. Enter the OTP received on your registered email id
  • After the OTP is verified, you will be required to fill the Online Account Opening Form
  • Once you have filled and submitted the Online Account Opening Form, your RM will contact you for the documentation process
  • Once the documentation process is completed and the forms are received at the Head Office, your account will be opened in the next 24 hours.
Open Free Demat Account

    IIFL securities charges

    IIFL charge ₹250 (Currently waived off) for trading and Demat account opening. Also, customers pay ₹250 for Demat account AMC. The Demat AMC is free for 1st year.

    Trading Account Opening Charges ₹250 (Currently waived off)
    Demat Account Opening Charges ₹0
    Demat Account Annual Maintenance Charges (AMC) ₹250 (Free for first year)

    IIFL Securities Brokerage Plans

    IIFL offers 3 different brokerage plans designed basis the customer profile. Investor Plan (Online Plus), Super Trader Plan (Pro Traders) and Premium Plan (Dedicated RM). You can choose one of the plans at the time of account opening or switch between them at any time based on your trading needs.

    Plan name Investor Plan
    (Online Plus)
    Premium Plan
    (Dedicated RM )
    Super Trader Plan
    (Pro Traders)
    Minimum Margin ₹ 0 ₹ 0 ₹ 0
    Monthly subscription ₹ 0 ₹ 0 ₹ 999
    Brokerage Charges
    Equity Delivery % 0.25% 0.50% 0.10%
    Equity Intraday/ Futures (per lot) 0.025% 0.05% 0.01%
    Nifty Options (per lot) ₹ 25 ₹ 50 ₹ 10
    Stock/ Bank Nifty Options (per lot) ₹ 25 ₹ 50 ₹ 10
    Commodity, Currency trading 0.025% 0.050% 0.015%
    Currency Options (Per lot) ₹ 8 ₹ 10 ₹ 5
    Currency Futures (Per lot) ₹ 20 ₹ 25 ₹ 15
    Commodity Options (Per lot)
    Gold ₹ 125 ₹ 150 ₹ 80
    Silver ₹ 80 ₹ 100 ₹ 50
    Crude Oil ₹ 80 ₹ 100 ₹ 50
    Copper ₹ 65 ₹ 80 ₹ 50
    Zinc ₹ 65 ₹ 80 ₹ 50
    Gold Mini ₹ 10 ₹ 15 ₹ 5
    Annual Charges
    Account Opening Charges (one-time) ₹ 250 ₹ 250 ₹ 250
    First Year Annual Maintenance ₹ 0 ₹ 0 ₹ 0
    Annual Maintenance (from 2nd year) ₹ 250 ₹ 250 ₹ 250
    Others Charges
    DP transaction charge Credit ₹ 0 ₹ 0 ₹ 0
    DP transaction charge Debit ₹ 25 ₹ 50 ₹ 10
    Delayed payment charge (p.a.) 18% 18% 15%
    System & Risk square off ₹ 100 ₹ 100 ₹ 0
    Call & Trade ₹ 0 ₹ 0 ₹ 0
    Pledge & Unpledge charges/ ISIN (customer initiated) ₹ 10 ₹ 10 ₹ 10
    Re-pledge and Release charges/ ISIN (collaterals) ₹ 1 ₹ 1 ₹ 1
    Pledge Invocation Charges ₹ 15 ₹ 15 ₹ 15
    Pledge Closure ₹ 0 ₹ 0 ₹ 0
    Demat/ Remat Charges ₹ 15 ₹ 15 ₹ 15
    Payment Gateway Charges ₹ 0 ₹ 0 ₹ 0
    Conversion of MF units/ Destatementization Per SOA ₹ 0 ₹ 0 ₹ 0
    Reconversion of MF units in to SOA or Redemption/ Restatementization Per SOA ₹ 0 ₹ 0 ₹ 0
    Re-issuance of (Additional) New DIS ₹ 100 ₹ 100 ₹ 100
    Postal Charges for physical dispatch ₹ 40 ₹ 40 ₹ 40
    Pledge charge (Broker Margin Funding) ₹ 50 ₹ 50 ₹ 50
    Courier/ physical printing (when requested) ₹ 100 ₹ 100 ₹ 100
    Access to services
    Research Report Yes Yes Yes
    Intra-day calls Yes Yes Yes
    Market Guru seminars No Yes Yes
    Trader Terminal EXE No Yes Yes
    Dedicated RM No Yes Yes
    Analyst/ Investment advisor meetings No Yes No

    IIFL securities trading software

    IIFL offers several trading platforms to its customers most of which are available for free to the customers. These user-friendly trading platforms make it easier for the customers to trade.

    IIFL Trader Terminal

    It is an executable application that can be installed by the customers on laptop or desktop to carry on seamless trading.

    The trading terminal offered by IIFL securities has all the features that are required by the trader while trading including:

    • A real-time update on the markets
    • Security with various authentication measures
    • Quick and confirmed order execution
    • Decent speed and performance
    • Seamless access to market calls, and research reports using fundamental and technical analysis
    • Various types of charts, technical indicators, and heat maps for analysis
    • Facility to customize and personalize the dashboard at multiple levels allowing changes in widget set alerts and notifications
    • IIFL Fund transfer to and from the customer’s trading account to across more than 40 prominent banks in the country.
     IIFL Markets

     IIFL Markets is the new age mobile trading app that is offered by IIFL Securities to its customers. The app is available for free for Android, iOS, and Windows users.

    The app is available of the play store and has a rating of 4.4 from over 20,000 customers. This makes the app one of the most top-rated trading apps available among the competitors.

    IIFL Markets is loaded with a bunch of features some of which include:

    • One swipe trading feature that allows the customers to trade with a single swipe. This makes sure that the customers don’t lose on a profitable market opportunity.
    • Watch list with up to 50 scripts. This allows the customers to manage their portfolio in a better way.
    • Easy application to IPO/OFS which not many stockbrokers are providing.
    • Unique message board feature that allows the customers to understand the take of others on the market.
    • Setting up of alarms from different aspects for instance Price threshold, stock price percentage, increase/decrease limit to name a few.
    • Guidance on opening and managing the IIFL Demat Account.

    IIFL securities disadvantages

    There are some of the disadvantages of opening a Demat and Trading Account with IIFL Securities. These disadvantages include:

    • The brokerage charges are higher when compared to other discount brokers as IIFL is a full service broker.
    •  The IIFL Trader Terminal software can only be downloaded in Windows and not Mac.
    •  The IIFL Trader Terminal has limited customizability (for charts, dashboard)
    •  The search function in the IIFL Markets App is poor.

    IIFL securities advantages

    IIFL Securities is a full-service broker that along with buying and selling of shares offers high-quality research to its customers. The company provides personalized services through a dedicated relationship manager who helps beginner traders and investors.

    Some of the advantages offered by the company to its customers are as follows:

    • It is a full-service broker that offers complete hand-holding support to its customers through its wide range of branches all across the country and even in abroad.
    • There is Free Equity and MF Research and recommendation service offered by the company to its customers.
    • It offers advanced trading platforms to its customers with Trader Terminal being the best trading platform offered by the company.
    • The company offers a wide range of financial products and services to its customers including stocks, bonds, IPOs, derivatives, MF, Insurance, and Corporate FDs.
    • It offers a dedicated relationship manager to its customers for seamless trading experience.
    • IIFL takes personal FDs as a collateral for margin funding.
    • Customers are offered Equity Systematic Investment Plan (Equity SIP).
    • It also offers commodity and currency trading on a single platform.
    • It offers advanced types of order like “Valid Till Cancelled” to its customers.
    • There is a separate application available for mutual fund investments for the customers.
    • The trading platforms are advanced, robust, speedy, and user-friendly at the same time.
    • The trading platforms can be customized.

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