IIFL Securities (India Infoline Limited) is one of the leading stock broking houses in India, Sponsored and supported by IIFL Holdings Limited. The full-service broking house offers a wide range of financial services to clients including loans, mortgages, and brokerage.
Through this IIFL Securities Review, we tried to cover IIFL history, their brokerage charges, trading platforms and other important points that every investors and traders should know.
The firm is primarily known for its superlative degree of quality in the field of online trading and research-based advisory. Its financial products are spread across various segments such as Stocks, Derivatives, Commodities, Insurance, FDs, Loans, IPO and Bonds, etc.
From web-based trading and investment to best-researched advisory services, IIFL Securities has carved its name and reputation in today’s rapidly-growing Indian economy.
History
It was the year 1995 when Mr. Nirmal Jain, an ex-commodity trader in HUL left his job to turn his dream into realities. This is when the birth of today’s prestigious IIFL Group took place. In fact, he came up with India’s first online trading website in the year 2000.
He first commenced the company as an equity research firm and progressively he expanded his offerings and at present, it provides Life Insurance, stockbroking service, Mutual Fund, Commodities, Fixed Deposits, Loans, IPO, Bonds, NRI Services, and other related services. The firm also has its branches in various countries of the world including Dubai, Colombo, New York, UK, Mauritius, Singapore, and Hong Kong.
India Infoline Securities Review – IIFL is the leading financial broker in India. Find IIFL Review, IIFL brokerage charges, trading platform, Calculator & more. IIFL Securities has an active presence across BSE, NSE, MCX, and NCDEX.
Reasons to choose IIFL Securities – Key Points of IIFL Securities Review
For those looking to associated with IIFL Securities Review, it is necessary to understand the following points:
- The innovative technology of IIFL makes it quite easy for users to trade and invest any time anywhere.
- The team of experts comes up with well-researched reports, charts, suggestions and recommendations that help investors make sound investment decisions.
- The platform is extremely user friendly as there is no particular training needed for a fresh investor. One can easily explore all the available features before investing that will help him enjoy seamless trading.
- The customized stock advisory services are provided to each client on an exclusive basis and this is one reason why IIFL has so many clients today.
- They also offer customer-centric brokerage plans based on the specific requirements of each investor and trader being either a daily investor or an active trader.
- They have an active presence in all major cities within India and even overseas.
- Their trading platform ‘Trading Terminal’ is based on advanced technology.
- They accept personal Fixed Deposits as collateral security for the margin funding.
Account Opening Charges at IIFL
The account opening charges at IIFL under the standard plan are as given below:
- Demat Account Opening Charges: Zero
- Demat Account Annual Maintenance Charges (AMC): ₹ 400 (First Year free)
- Trading Account Opening Charges: Zero
- Trading Account Annual Maintenance Charges: Zero
Awards & Accolades
Since its inception, IIFL Securities have won several awards and accolades from industry pioneers.
Some of the leading ones are:
- ‘Golden Peacock Award for Risk Management’ for the year 2019 at Singapore Global Convention
- ‘Best Broker with Global Presence’ from BSE IPF
- India Infoline receives Mobby’s Award at World Marketing Congress for ‘Best Financial Website’
- IIFL bags NSE Market Achievers Awards 2017 as the best IPO Bidding Member – Retail | Group
IIFL Brokerage Charges & 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.
| IIFL Z20 Plan Brokerage | Details |
|---|---|
| Delivery Brokerage | ₹0 for all traders |
| Equity Intraday, Futures & Options, Currency & Commodity | ₹ 20/- per executed order or 0.05% whichever is lower |
| Equity Options | Flat ₹ 20/- per executed order |
| IIFL Z20 Plan Other Charges | Details |
|---|---|
| Securities/ Commodities Transaction Tax | Statutory charges as per exchange |
| Transaction/ Turnover Charges | Statutory charges as per exchange |
| AMC (Annual Maintenance Charges) | Free AMC for 1year since plan activation & ₹450 per year post that |
| Call & Trade | Additional charges of ₹50 per order A) for orders placed through our support/dealing desk B) intraday or RMS positions squared off by our RMS team |
| Buyback, OFS and NFO Order Charges | ₹0 for online order |
| GST | Charged as per GST law |
| DP (Depository Participant) Charges | ₹20 per debit instruction (irrespective of quantity) |
| Physical CML Request | CML request is free, only ₹100+GST for the courier will be charged |
| Margin pledge initiation and pledge release from client to stock broker (Both side | ₹25 per Script (NIL for Mutual funds) |
| Margin Re-pledge initiation and Re-pledge release from Stock Broker to Clearing Member(CM)(Both Side) | ₹1 per Script (NIL for Mutual funds) |
| Margin Re-pledge initiation and Re-pledge release from CM to Clearing Corporation (CC) (Both Side) | ₹1 per Script (NIL for Mutual funds) |
| Margin Pledge Invocation by Stockbroker/CM/CC | ₹25 per Script (NIL for Mutual funds) |
| Pledge Charge (Broker Margin funding, Any offline/external) Pledge | ₹59 |
| Payment Gateway Charges | ₹9 |
| SEBI Charges – Equity Intraday, Futures & Options and Currency | Charged at ₹5per crore |
| SEBI Charges – Commodit | Non Agri Commodity ₹5per Crore Agri Commodity ₹1 per Crore |
| DPC Charges | 0.05% Per day |
| Stamp Charges | Statutory charges as per exchange |
| Clearing Charges | Charged at ₹150 per crore on F&O segment in Equity |
| Currency Exchange Transaction Charges in futures | ₹22 per Cr in BSE & ₹90 Per Cr in NSE |
| Currency Exchange Turnover Charges in Options | ₹100 per Cr in BSE & ₹3500 Per Cr in NSE |
| GST On Transaction Charges & SEBI Fees in Currency | Charged at 18% |
| Currency Investor Protection Fund | Future Investor Protection – ₹5 per crore & Option Investor Protection – ₹200 per crore |
All charges are including GST & other charges will be levied as per existing structure
Leverage:
| Segment | Delivery Leverage | |
|---|---|---|
| Cash Delivery | Up to 5 time | |
| Intraday Order | Cover/Bracket Order | |
| Cash Intraday | Up to 20 times | Up to 20 times |
| Index and Stock Futures | 4 Times | 25% of Exchange margin + SL Margin |
| Index Option Sell | 4 Times | 25% of Exchange margin + SL Margin |
| Index Option Buy | 3 Times | 25% of Exchange margin + SL Margin |
| Stock Options Sell | 2 Times | Not Allowed |
| Stock Options Buy | 1 Times | Not Allowed |
Note- Non POA Clients can also take leverage against pledged stocks
IIFL Securities DP Charges
DP charges comprise depository as well as depository participant charges. Whenever a stock is sold from your IIFL Securities demat account, DP charges are imposed.
IIFL is affiliated to both the central securities depositories.
| IIFL Securities DP Charges | Charges |
|---|---|
| IIFL Securities DP Charges | 0.04% of the transaction value (₹25 cap) |
| CDSL DP Charges | ₹5.5 |
| NSDL DP Charges | ₹4.5 |
Therefore, for every stock sale, a CDSL linked demat account holder will have to pay ₹5.5 + 0.04% of the transaction value while a customer whose DP is NSDL will be charged ₹4.5 + 0.04% of the transaction value as IIFL Securities DP Charges.
IIFL Securities Margin
Margins are collected to cover some of the trade risks and safeguard against any adverse price movement. Usually, margins are decided as a % of the total value of the transaction.
Here is the detailed list of IIFL Securities Margin
| Segment | Trading Margin |
|---|---|
| Equity Delivery | Upto 3 times |
| Equity Intraday | Upto 20 times |
| Equity Futures | Upto 3x |
| Equity Options | 3x for shorting |
| Currency Futures | Upto 2x |
| Currency Options | 2x for shorting |
| Commodity Futures | Upto 3x |
| Commodity Options | Upto 3 times for intraday |
From the overall industry perspective, these margin values place IIFL at a decent spot among the trader base that looks to use this provision while trading.
IIFL Securities Trading Platforms
IIFL Securities offers different types of trading platforms to cater to different types of traders available on various devices.
IIFL Markets Mobile App (Android and iOS)
Available for both Android and iOS users, the IIFL Markets app lets users trade across BSE, NSE, and MCX. It is also considered among the most widely used trading app in the country with an average rating of 4.4. Currently, the app has more than 20K subscribers.
Some of the best features of the Markets app are:
- Live prices – Easy access to Equity, Currency, and Commodity marketplaces
- Personalized watchlists – Create various watchlists across BSE, NSE, MCX, and NCDEX
- Advanced dashboard – Comprehensive dashboard for Indices, Currencies, and Commodities
- IIFL View – Instantly view top 500 stocks sorted by IIFL research team
- Price alert notifications for your preferred stocks
- Advanced widget to track stocks right on the home screen
- Lifetime free guest user login
- News, research, PnL, Key Ratios & historical price charts
IIFL Trader Terminal
IIFL Trader Terminal is a desktop-based trading software that allows investors to trade across IPO, Mutual Funds, Equity, Derivatives, Currency, and Commodities. The trading can be done across BSE, NSE, MCX, and NCDEX.
Though this desktop application is quite useful, using it can be a bit clumsy for beginners. The app offers a wide range of charting and analytical features that help in sound decision making related to the investment.
There is also a web-based version of this app that can be opened on all leading web browsers.
The main features of IIFL Trader Terminal are:
- LIVE market information, quotes streaming
- One-click order placement feature
- 2-level authentication for enhanced security
- Add multiple market watch lists so as to check details of pre-chosen scrips.
- High-speed order execution based on the running performance
- Insightful market analysis with info like top gainers/losers, 52-week high/low, and so on
- Technical and fundamental analysis – 14 technical price and volume indicators
- Online fund transfer facility with leading banks like ICICI, HDFC, UTI, Axis, Yes Bank, and others.
IIFL TTWeb
This application is developed for users that are comfortable trading through browsers, be it Chrome, Mozilla, Firefox, Safari etc
There is no need to download any software to run this trading app version. A Computer, laptop, desktop, smartphone with an internet connection and a browser will do the job for you.
IIFL TT is a complete tool that facilitates the investors to trade and invest in various financial instruments such as :
- Stocks
- Derivatives
- Commodities
- Insurance
- FDs
- Currency/Forex
- IPO
- Bonds
IIFL TT.Exe
As the name suggests, this is an EXE file that needs to be downloaded from IIFL Securities secure website and then installed on your windows-based computer, laptop, or desktop.
his high-performance trading app has multiple features to offer to its trader base, including:
- Real-time market quotes with a provision to add scrips in custom watchlists
- Buy and sell order window just a click away across the trading app
- Quick order execution
- Smooth user experience for feature navigation and analysis
- Security measures to combat any potential malware issues
Single sign-on available
Conclusion of IIFL Securities Review
India Infoline (IIFL) is a reputed brand in the stockbroking sector in India. However, after the launch of various stockbroking firms in recent times, there has been some sluggish response in witnesses in the growth of the firm.
Though they have come up with the discount brokerage segment, a majority of beginners still love to go with IIFL due to their rich physical presence everywhere.
And when it comes to adjudging the performance of their trading platforms, they are truly outstanding.