IIFL or India Infoline Limited is a premier financial service provider in our country. It is one of the oldest and largest financial firms as well. The company has many verticals and one of its financial services is stockbroking.
In this IIFL Review, you will read about the stockbroking business of the firm, its brokerage plans for the traders, other charges, account opening process and charges, exposure, products and services related to the investment arena, and a lot more details that you are looking for.
Find detailed India Infoline Review below.
|Broker Type||Full Service Broker|
|Demat Account AMC||Rs 0 (Free for 1st year)|
|Margin Required||75% Margin|
|Intraday Brokerage||Rs 20 per order|
|Delivery Brokerage||Rs 0 (Free)|
What do you know about IIFL?
Let’s start this IIFL Review with a brief history of the company. IIFL was started in the year 1995 by Nirmal Jain who is the founder of the company. The company is based out of Mumbai, the ‘Financial capital’ of the country.
The stock brokerage house is registered as a public limited company. This is a full service brokerage house with a research and analysis department and services. The firm has been in the industry for decades and it has rich experience and a great network of investors and clients.
|Know a few details about IIFL|
|Which type of Company is it? – Public / Private||Public|
|Which type of Broker is it? – Full Service / Discount||Full Service Broker|
|Where is the registered office of the Company Located?||Mumbai, India|
|Who is the Founder of this Company?||Nirmal Jain|
|When did the company start?||1995|
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What are the various Demat Account Opening Charges levied by IIFL?
IIFL Demat Account is with NSDL and CDSL which are the two depositories of the country. The IIFL Account Opening charges are quite high as you can see in the above table. It is Rs. 295 which is one of the highest account opening charges charged by any stockbroker in the country.
The annual maintenance charges of the firm are Rs. 0 depending on the offers you get or the kind of account you choose. The maintenance of trading accounts is free for a lifetime. The minimum money that you need to keep in the trading account at any point in time (margin money) is 75% Margin. You can also avail of the facility of dematerialization of the shares.
|IIFL Demat Account Opening Fees|
|Check out the various fees charged for Opening a Demat Account with IIFL|
|Which is the Depository Participant involved?||NSDL & CDSL|
|What are the Demat account opening charges?||Rs.295|
|How much is the Demat AMC?||Rs 0 (Free for 1st year)|
|What is the Trading AMC?||Rs 0|
|What is the initial Margin amount required?||75% Margin|
|Is dematerialization available?||Yes|
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Does India Infoline provide any Offers to their Clients?
IIFL offers that they provide to the clients are includes free Demat and trading maintenance, flexible brokerage plans, and referral offers.
If you see the offers by this firm and compare them with another brokerage house, you will realize that the offers are limited and there are not as many offers as other brokerage houses. However, their offers are much more lucrative if not too many in numbers which is more beneficial for you most of the time.
|Here are the various offers provided by IIFL|
|Does the broker provide a Free Demat A/C offer?||Yes|
|Does the broker provide Free Trading A/C offer?||No|
|Is this broker offers a Discount on Brokerage?||No|
|Does the broker offer Happy hour trading to their clients?||No|
|Is the broking house provides a flexible brokerage plan?||Yes|
|Does the broker offer 1-month Free brokerage?||No|
|Are the Holiday offers provided by the broker?||No|
|Are there any referral offers shared by the broker?||Yes|
|Zero Brokerage for Loss-Making Trades||No|
What are the Brokerage Charges levied by IIFL on various Segments?
IIFL Brokerage Charges are completely at the market. Their charges as per the table mentioned above are replicating the market average charges – brokerage rates charged by the brokerage houses of their stature.
However, in certain segments, like currency options, it charges Rs. 20 per lot which is too high even if compared to the market average. They also have a minimum brokerage system which is of Rs. 0.05 per share which is different from most of the brokers as others charge a flat minimum brokerage.
|IIFL Brokerage Charges|
|Here you will find details of brokerage levied by IIFL on all segments|
|What are the Equity Delivery Charges?||Rs 0 (Free)|
|What are the Equity Intraday Charges?||Rs 20 per order|
|How much brokerage charged for Commodity Trading?||Rs 20 per order|
|What is the brokerage on Equity Futures?||Rs 20 per order|
|How much brokerage charged for Equity Options?||Rs 20 per order|
|What is the brokerage on Currency Futures?||Rs 20 per order|
|What is the brokerage on Currency Options?||Rs 20 per order|
|How much is the Minimum Brokerage required?||Rs.0.05 per Share|
|What is the Demat AMC?||Rs 0 (Free for 1st year)|
|How much is the Trading AMC?||Free|
|What is the Minimum Margin Required?||75% Margin|
Does India Infoline levy any other charges apart from Brokerage?
IIFL Charges apart from the brokerage charges are the charges that you are bound to pay. These include GST, SEBI turnover charges, STT, and others. These charges are fixed by SEBI and the government so they are fixed and not variable as per the brokerage houses.
The only charge in this segment that varies is the transaction charge and for IIFL it is 0.00225% of the total turnover which is at par with the market average charge for this category.
|Get a deep understanding of all other charges levied by IIFL|
|How much are the Transaction Charges levied?||0.00225% of Total Turnover|
|What are the STT charges?||Equity Delivery: 0.1% on both Buy and Sell
Equity Intraday: 0.025% on the Sell Side
*Equity Futures: 0.01% on Sell Side
Equity Options: 0.05% on Sell Side(on Premium)
Commodity Futures: 0.01% on sell side (Non-Agri)
Commodity Options: 0.05% on sell side
Currency F&O: No STT
On Exercise transaction: 0.125%
Right to entitlement: 0.05% on sell side
|What are the SEBI Turnover charges?||0.00005% (Rs.5/Crore)|
|How much is the Stamp Duty levied?||(On buy side only) Delivery: 0.015%, Intraday: 0.002%, Equity Futures: 0.002%, Equity Options: 0.002%, and Currency F&O: 0.0001%. Commodity Futures: 0.002%, Commodity Options: 0.002% (MCX)|
|How is the GST charged?||18% on (Brokerage + Transaction Charge + SEBI Fee)|
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What is the Limit or Exposure offered by IIFL?
IIFL Margin trading is not that popular or beneficial as the exposure limits are not that high. The India Infoline Exposure for the intraday segment is 5 times and that is the maximum in any of the segments. The leverage level is not that high as compared to other brokers in the country.
|IIFL Exposure or Leverage|
|Here you will find the exposure or limit provided by IIFL|
|How much is the limit on Equity Delivery?||1x|
|What is the limit on Equity Intraday?||Upto 5x|
|How much is the limit on Equity Futures?||1x|
|What is the limit on Equity Options?||1x|
|What is the exposure on Currency Futures?||1x|
|How much is the leverage on Currency Options?||1x|
|What is the limit on Commodity Trading?||1x|
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How To Open IIFL Demat & Trading Account?
To Open IIFL Demat Account and trading account, you need to –
- Click on the ‘open Demat account’ button you found in this article. Once you click on the button, you will be redirected to a webpage.
- There you have to enter your personal and other details as asked on the form. Once you enter the details and click on submit, you will land on another page.
- There you have to upload the documents that are required for verification purposes. The documents that you will generally require are PAN, AADHAAR, Voter ID, Bank Statement, address proof, and others.
- The executives of IIFL will call you once you upload all these documents successfully onto their system.
- Then you will get further direction from them and your account will be opened within a few hours of the verification process being successful.
It is very simple to Open IIFL Trading Account and Demat account with this article of ours.
What are the various Trading Platforms provided by IIFL?
IIFL Trading Platforms include IIFL Mobile App, IIFL Trading Terminal, and web-based trading platform. They all have a variety of features and facilities for making your trading experience rich and smooth. You can try each of their applications or choose one according to your preference and need.
IIFL Trading Terminal: IIFL Trader Terminal
The trading terminal is the software that you need to download on your laptop or desktop and it is mainly for day traders who trade in huge volumes. The IIFL trading terminal requires a .Net framework in the device before installation. It is for the Windows operating system and has plenty of features.
IIFL Web-based Trading Platform: IIFL Trader Web
Web-based trading platforms are becoming quite popular these days. The IIFL trading platform for the browser is fast and user-friendly and there is no need for any installation and downloads. It also has ample features which will be discussed in the next section.
IIFL Mobile Trading App: IIFL Markets App
This is the handiest and simple application offered by IIFL. The mobile trading platform is lightweight and uses little space and data for execution but provides great trading experience and is exceptional at tracking portfolios and markets.
|IIFL Trading Platforms|
|Here you will find all the important trading platforms available with it|
|Do they have Trading Terminals for Windows?||Yes|
|Do they have Trading Terminals for Mac?||Yes|
|Are they providing Web Trading Platforms?||Yes|
|Do they have a Mobile Web Platform?||Yes|
|Does this broker provide Mobile Trading App for Android?||Yes|
|Does this broker provide Mobile Trading App for iOS?||Yes|
|Are they having Mobile App for Windows OS?||No|
|Do they have Mobile Trading App for Other OS?||No|
What are the features available in India Infoline Trading Applications?
IIFL Trading Terminal – IIFL Trader Terminal Features
- You get to see all the real time data and updates on the terminal and you can prepare your own watch list with the stocks and scripts that you want to monitor
- The safety and security of the terminal are super high and your transactions are completely secure
- The performance of the terminal is great and the orders are executed in real time without much distraction from the price you want or place the order at
- The terminal provides speed and efficiency at the same time
- Terminal software is loaded with research reports and tools for analytical uses. you can refer to the reports and also do your own research at your convenience
- There are charts, technical and fundamental analysis tools, and reports
- Heat maps and technical indicators are in abundance in the terminal
- You can transfer funds across the banks and there is a link with more than forty banks
- You can customize the platform according to your own preference and need
Web Trading Platform IIFL – IIFL Trader Web Features
- You get highly advanced technical indicators, charts, tools for analysis, and many other such features
- There is no need to download any software, you just log in and trade
- There are a variety of orders and execution is superfast
- The research reports are available on this platform here as well and you get all the updates about the market on this platform
IIFL Trading App – IIFL Markets App Features
- If you want to trade with a swipe, then IIFL mobile trading platform is just the right application for you. With one swipe you can place your trading order and this helps in capturing the real time price
- On the mobile application, you can build a watch list of 50 scrips and track and monitor them always
- Using the IIFL Mobile app, you can invest in IPOs and OFS. This feature is very rare on any other mobile trading platform.
- There is a message board or forum, where you find other traders’ messages about the market situation
- There are a variety of orders, one can set alerts for alteration in the price threshold and set alerts for other aspects as well like price increases and decreases.
The IIFL Mobile trading application is considered to be one of the top mobile trading platforms in the country.
|IIFL Trading Application Features|
|Here you will find various features available in Trading Platforms provided by IIFL|
|Are these platforms capable of Real time Updates?||Yes|
|Do these Applications provide Portfolio Details?||Yes|
|Is this software providing Online MF Buy?||Yes|
|Do these platforms have News Flash?||Yes|
|Are these platforms providing Research Reports?||Yes|
|Are these platforms Easy to Install & use?||Yes|
|Do these Apps have Global Indices?||Yes|
|Are these platforms having Stock Tips?||Yes|
|Does this software provide Personalized Advisory?||Yes|
|Are these platforms capable of Interactive charting?||Yes|
|Do these Apps provide Live Markets data?||Yes|
|Do they provide SMS Alerts?||Yes|
|Are they providing Email Alerts?||Yes|
|Do these platforms have Multi-Account Management solution?||Yes|
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What are the various Products provided by IIFL?
The range of IIFL Products is vast and it includes most of the financial instruments as you can see in the above list as well. The firm provides equities, currencies, commodities, and every other instrument to trade.
The banking products and Insurance products are not there as they do not have these departments as of now. However, there is no need to worry about the same as your main purpose of stockbroking products is offered by the firm in abundance.
|Here are the various products provided by IIFL|
|Does the broker allow Equity Trading?||Yes|
|Does the broker allow Commodity Trading?||Yes|
|Do they have Currency Trading products available?||Yes|
|Do they provide Options trading?||Yes|
|Are the clients allowed to trade in Futures?||Yes|
|Do they have Mutual Funds as the product?||Yes|
|Does the broker allow Forex trading?||Yes|
|Does the broker have Banking products?||No|
|Is SIP allowed by the broker?||Yes|
|Do they have Insurance as a Product?||No|
What are the various Services offered by IIFL?
Similarly, as products, the IIFL Services are innumerable. The firm offers an array of services starting from the Demat and trading services to the IPO, intraday, and PMS services as well.
The firm provides free stock recommendations to investors and traders apart from the reports they circulate from the research and advisory service department.
|Check out the various services provided by IIFL|
|Does the broking house provide Demat Services?||Yes|
|Does the broking house provide Trading Services?||Yes|
|Do they have 3 in 1 Account i.e. Demat, Trading & Savings A/C?||No|
|Do they provide Intraday Services?||Yes|
|Are they offering IPO Services to the client?||Yes|
|Do they have Stock Recommendations available?||Yes|
|Are they providing tools for Robo Advisory?||No|
|Does the broker provide PMS?||Yes|
|Do they have Trading Institution available?||No|
|What is the Trading Exposure this broker provides?||Upto 5x|
Does India Infoline provide Research & Advisory to its clients?
If you need a broker who provides each and every kind of research and advisory service then choose IIFL Research and IIFL Advisory.
They circulate each and every kind of research report whether it is about the company review, stock review, annual report, monthly, weekly reports, and even daily report. The IIFL Tips are bang on most of the time and you can get ample of opportunities to trade using those tips.
You also get advisory services offline and you can opt for a Relationship manager’s service if you require.
|IIFL Research, Advisory & Stock Tips|
|Here are the various research activities are done by IIFL|
|Does the broker share Fundamental Reports?||Yes|
|Does the broker shares Research Reports?||Yes|
|Do they provide Company Reports to their clients?||Yes|
|Are they analyzing the Annual Reports of Companies?||Yes|
|Do they share Company Stock Reviews?||Yes|
|Are they sharing Free Stock Tips with their clients?||Yes|
|Do they analyze & share IPO Reports?||Yes|
|Does the broking company provide Top Picks?||Yes|
|Are they sharing Daily Market Review?||Yes|
|Do they have Monthly Reports?||Yes|
|Does the broker provide Weekly Reports?||Yes|
|Are they having Offline Advisory?||Yes|
|Do they provide Relationship Managers to clients?||Yes|
What are the Customer Care details of IIFL?
The IIFL Customer Care is available on 180030001155. You can also reach them on their email support and chat support. They have a dedicated dealer service as well.
The customer service executives are available to solve your queries round the clock and this service is rare in the market as most of the other brokers remain available only for the market hours.
|IIFL Customer Support|
|Let’s have a better understanding of the Customer Care Service of IIFL|
|Are they providing Dedicated dealers to their clients?||Yes|
|Do they allow Offline Trading?||No|
|Do they have facilities for Online Trading?||Yes|
|Are they providing 24*7 Support?||Yes|
|Does this broker provide Email Support?||Yes|
|Is this broker having Chat Support?||1800 3000 1155|
|How many Branches the stock broker has?||120|
Are there any Complaints filed against India Infoline by their clients?
The IIFL Complaints registered on NSE were 214 out of which 212 were resolved last year and on BSE it was 145 out of which 122 had been solved.
The numbers of complaints in regard to the active clients are next to nil and on top of that those issues are also solved within a very short period. This shows the genuineness of the firm and its dedication and cares toward the clients.
|Here you will know about the Complaints lodged against IIFL|
|What is the total number of Complaints Lodged in BSE?||145|
|How many of these complaints have been Resolved in BSE?||122|
|What is the total number of Complaints Lodged in NSE?||214|
|How many of these complaints have been Resolved in NSE?||212|
What Are The Advantages / Benefits Of India Infoline or IIFL Trading Account?
The advantages of trading with IIFL Trading Account are –
- You get all the research reports and services and advisory services that traders ask for
- IIFL is a brand in this financial industry and you can completely rely on them
- They have very average brokerage plans
- The exposure level is also average
- A wide variety of products and services are available with them under one roof
- Trading platforms especially the mobile trading platform is regarded as the top platform in India
What are the IIFL Review & Ratings as per their Customer?
IIFL Ratings suggest that the firm has exceptional research services and broking advisory. The IIFL Review by customers suggests that they also have very decent brokerage charges and other charges and they are happy with the charges.
The trading software is also applauded but needs betterment as per the ratings depicts. The overall experience of the customer seems satisfactory with a 7.1 rating out of 10.
|IIFL Ratings & Reviews|
|We are looking at Company’s Ratings on various parameters|
|Stock Market Research & Broking Advisory||8.0/10|
|Brokerage & other Charges like – Turnover, Transaction Charges etc.||8.0/10|
|Types of Products & Services the Brand provides||6.3/10|
|Performance Mobile App, Trading Terminal & Web Trading Platform||6.5/10|
|Experience in the Broking Business||7.0/10|
|Total Avg. Rating of Broking House||7.1/10|
|Star Rating of given to Stock Broker||★★★★☆|
|Number of People Contributed to These Ratings||293|
IIFL or India Infoline Conclusion
We hope this IIFL Review provided you with enough information about IIFL. The firm has great research services and an abundance of products and other services with reasonable brokerage charges.
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