One who is looking to start online trading can open IIFL Securities Demat and Trading Account. The full-service broker offers Free Demat Account at zero account opening fees and also charges zero Demat AMC for 1st year. Opening IIFL Securities Trading Account facilitates trading & investment across multiple products such as equities, IPOs, commodities, mutual funds, futures & options, currency, and PMS. One can open IIFL Demat and Trading Account either online or offline as per their choice and start online trading across various online trading platforms such as IIFL Markets Mobile App, IIFL Trader Terminal, etc. On this page, check here the complete information on how to open IIFL Account, IIFL demat account opening charges, IIFL account opening documents, IIFL account opening forms, IIFL Demat account closure, and others.
Here are the reasons or benefits on Why to choose IIFL to open Demat and trading account;
There are two ways to open IIFL Demat and trading account that are online and offline. Here is the complete process to open an account online or offline as per the client’s choice.
IIFL Securities online account opening is an instant and completely digital process that requires users to fill the form online, upload scanned copies of documents, get the details verified and the login credentials will be provided on a registered email address. Notably, to open IIFL Demat and trading account online, your aadhar card must be linked with your mobile number. The online process facilitates users to open IIFL Insta trading account through the below steps;
Steps to open IIFL account online
Once you have successfully gone through all these steps then the details will undergo the verification process and if everything found correct then you will receive IIFL account login credentials contain user id or BOID (Beneficial Owner Identification Number) and password within 24 hours. You must change the password first and then start online trading with IIFL.
If you are not tech-friendly then you must choose traditional means paper-based processes. The offline IIFL account opening process requires clients to courier physical copies of duly filled IIFL account opening form along with mandatory documents. You can even just sign-up and provide your mobile number on IIFL website and the representative or relationship manager will call himself to guide you with the complete IIFL account opening process.
Every broker charges a one-time account opening fee on Demat and trading accounts and also charges an annual maintenance charge (AMC). This is one of the important parameters while selecting the right broker to open a Demat and trading account. Here are the IIFL Demat and Trading Account Opening charges details;
|Trading Account Opening Charges||Rs 250 (Rs 0, Promotion offer)|
|Demat Account Opening Charges||Free|
|Demat AMC||Rs 450 PA (Waived for 1st year)|
Opening IIFL Demat and Trading Account requires several documents in the digital format or scanned copies/photos whereas if you are opening the IIFL Demat account offline then the following list of documents needs to be submitted in the physical form.
Document checklist to open IIFL Account
Note: Income proof is only required to trade in the derivative (futures & options) segment or currency segment.
To check IIFL Account Opening Status, a client can call his/her relationship manager or call at the customer service desk at 1860-267-3000/7039-050-000 on any working day.
Opening IIFL Account offline requires IIFL Account Opening Form (AOF) that must be filled properly and submitted to the broker. To get the AOF, users can visit the IIFL Securities website, download the form, and take its printout. Here is the direct link to get IIFL Demat and Trading Account Opening Form for individuals;
If your demat account is currently not in use and you don’t want to close it then there is an option of deactivating the IIFL account. Deactivation is a temporary process to freeze or restrict debit and credit of securities from your IIFL Demat account. However, it must be noted that a deactivated Demat account still attracts annual IIFL Demat AMC charges hence, you can’t choose to deactivate your account just to avoid the AMC fee.
If you’ve closed your IIFL Trading account and now, want to reactivate the same, then you can do it easily. To reactivate your IIFL Securities Account, you need to get the IIFL account reactivation form from the broker’s website, fill out all the details, sign it, attach required documents and dispatch it to the registered IIFL head office.
Anyone who wants to start online trading requires a demat and trading account. If you’ve opened IIFL (India Infoline) Demat account but now for some reason, you are not using your IIFL Demat Account then you must close it. The reason when an account holder may consider closing his IIFL demat account is to avoid the Demat AMC charges. There is no way to close an IIFL account online as you can only close an IIFL account offline.
Steps to close IIFL Securities Demat account
Key points to remember before closing IIFL Demat account
Unlike account opening that is levied with an account opening fee, there are no charges on the IIFL Demat account closure. It means that closure of an IIFL account is completely free and one just has to send the duly filled closure form to the IIFL’s head office address.
As IIFL doesn’t allow online account closure, therefore, you have to get the hard copy of the IIFL account closure form from the website and after providing the required information, send it to the broker’s office. Here are the steps to get IIFL account closure form;
India Infoline Finance Limited (IIFL) is a one-stop solution to meet all your trading and investment desires as you can trade across multiple products i.e. equity, derivative, commodity, currency, IPO, mutual funds, insurance, loans, PMS, etc. The Industry’s award-winning research team also provides access to get the best expert research and advisory services. Best research, tailor-made financial solution, NRI trading, Free IIFL Demat account, and advanced technology trading platforms – IIFL Markets Mobile App, trader terminal, etc. all are the reasons that attract people to open the IIFL Securities account. Besides this, its various brokerage plans i.e. Flat Brokerage plan, Variable Brokerage Plan, and Value Added Subscription Plan provide flexibility to users. Further, IIFL with more than 25 years of existence and 10 lakh of client base made the broker a highly reliable and trustworthy broker.
To open an account with IIFL securities, one can choose either an online or offline process. The online process is quick and instant and facilitates people to open IIFL Insta Trading Account. However, the offline process is time-consuming but comes with complete account opening guidance and assistance by relationship managers.
There is currently no offer available but one can open a Free IIFL Securities Demat account.
India Infoline Finance Limited (IIFL) doesn't have any promo code/promo coupon for new account opening.
Unlike many other brokers like Zerodha, Upstox, etc., IIFL Securities doesn't have any referral scheme for clients.
Once you have sent the account closure form to the broker, then your account will go under the verification process wherein the broker will check details such as outstanding dues, negative balance, availability of securities in your Demat account, etc. If you have settled all balances, have no dues, no securities, and provided correct details in closure form then, within 7-10 working days, your IIFL Securities Demat Account Demat account will be closed.
No, although the broker facilitates both the online and offline ways to open an IIFL account you cannot close your IIFL Demat Account online and has the only option to go through the paper-based or offline process wherein you have to submit the physical copy of the filled IIFL demat account closure form to the brokers.
If you are an IIFL Demat account holder then you cannot close your IIFL Securities Demat Account online as the broker only facilitates the offline account closure process. It means that if you are looking to close IIFL Securities Account online then that’s not possible and you must undergo a traditional or offline process that requires submitting hard copies of the duly filled IIFL account closure form to the broker’s head office address.
IIFL Securities facilitates customers to open an online IIFL account. Here is the process to open an IIFL Securities account online:
IIFL Securities Insta trading account means opening an IIFL trading account online that is a quick, instant, and hassle-free process. The Insta trading account facilitates customers to place buy and sell orders across various segments such as equity intraday, equity delivery, commodities, currency, IPO, mutual funds, and others.
Last Updated on 2021-01-28