Last Updated - 2018-12-04
Rated 4/5 based on 71 customer reviews
IIFL empowers you with cutting-edge technology , world-renowned research reports, finest trading platform: Trader Terminal,online IPO investment, portfolio management services and so on for successful investment and trading comforts.
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India Infoline Group as a whole offers diversified business model that includes finance and credit, asset management, wealth management, financial product distribution, capital market advisory and investment banking.
IIFL or India Infoline Limited is the subsidiary of India Infoline Group having interest in the field of equity broking services to the retail as well as institutional segments. These services are supported by a strong in-house research team and an excellent customer support system. As a IIFl customer you will receive IIFL's award-winning research service, as well as added benefits like research, portfolio analysis, funding, advisory, relationship manager, branch support and so on. Through IIFL you can trade in Equity, derivatives, currency, commodity, IPP, mutual fund and the broker offer onsite education for newbies.
IIFL provides facility for Equity Systematic Investment Plan (Equity SIP) through which customers can place buy orders for a pre-specified amount in scripts of their choice at regular intervals over a period of time. Similar facility is also available in Commodity and Mutual Fund. More information IIFL Equity SIP can be seen on their site. IIFL has global presence through its subsidiaries with offices in London, New York, Houston, Geneva, Hong Kong, Dubai, Singapore and Mauritius. The Broker is registered member of NSE and BSE. For demat account, IIFL is DP with both NSDL and CDSL. This DP account can be directly linked with your Web account.
Network of close to 2,500 business locations spread over 850+ towns and cities is a plus for you as a trader to approach them directly for your trading needs. IIFL's Customer Care is average which is offered on phone and email for technical queries and greivances.
IIFL started their discount brokerage business in 2014 with the name "IIFL Online Investor", but shortly they have closed that business.Now IIFL is providing only Full Broker services.
Here we are comparing India Infoline (IIFL) with its 5 close competitors, who are currently market leader in brokerage industry.
|Broker||India Infoline (IIFL)||Zerodha||ICICIDirect||Sharekhan||ProStocks|
|Service Type||Full Service Broker||Discount Broker||Full Service Broker||Full Service Broker||Discount Broker|
|Brokerage||.05 to .5%||Rs 20||0.05 to .55%||0.1 to 0.5%||Rs 15|
|Account Type||2 in 1||2 in 1||3 in 1||2 in 1||2 in 1|
IIFL has three brokerage plans to offer to its clients:1.Variable Brokerage Plan:
This is the brokerage plan depending upon the volume of trade per month in particular segment. The more is your volume the lower will be the brokerage. For Equity Delivery the brokerage ranges from .60% to .15% for trading volume of <1 lac to > 200 lac.
Brokerage for Intraday ranges from .05% to .02% for monthly turnover of <20 lac to > 500 lac.
Future trade runs @ .05% to .02% for monthly turnover of <100 lac to >5000 lac.
Option Trade runs at 2.5% to 1 % for monthly Premium volume of upto 4 lac to > 50 lac.
Note: The minimum aggregate brokerage is Rs 25 per scrip per day for delivery trades in cash segment.First 20 call n trade per month is free after which Rs 20 per call will be charged.2.Flat Brokerage Plan
Delivery Brokerage is 0.50% or 5 paise per share whichever is higher. This is a most common brokerage percentage in the Industry same as Religare, Reliance, Sharekhan, HDFC.
Intra-day and Future brokerage of .05% on both side falls in low to medium brokerage range compared to Sharekhan (.10%), Ventura (.05%), Motilal Oswal (.03%) etc.
Option Brokerage of 1% of Premium or Rs 100 per lot whichever is higher is average in the Industry.
IIFL charges minimum Brokerage of 5 paisa per share.
Account Opening Fee: Rs 7503.Value Added Subscription Plan
This is a prepaid brokerage plan where you requires to pay a Subscription fee at the beginning of a 12 month time period. The subscription fee is non -refundable. This fee will pay off your Brokerage generated during this period.
|Plan/Features||V1LAC VAS||V75K VAS||V45K VAS||V25K VAS||15K VAS||10K VAS||5000 VAS||2500 VAS|
|Upfront Subscription||Rs100000||Rs75000||Rs45000||Rs25000||Rs15000||Rs 10000||Rs 5000||Rs 2500|
|Minimum Per share Brokerage||0.01||0.01||0.01||0.03||0.04||0.05||0.05||0.05|
|Intraday Brokerage (Per Leg)||0.007||0.009||0.01||0.02||0.02||0.03||0.03||0.04|
|Futures Brokerage (Per Leg)||0.007||0.009||0.01||0.02||0.02||0.03||0.03||0.04|
|Options Brokerage (Per Lot per leg)||Rs 20||Rs 25||Rs 50||Rs 60||Rs 60||Rs 70||Rs 80||Rs 90|
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|Brokerage Plan||Standard Plan (Percentage Based)|
|Equity Delivery||0.5% or 50 paisa|
|Equity Intraday||0.05% or 5 paisa|
|Equity Futures||0.05% or 5 paisa|
|Equity Options||1% of Premium or Rs 100 per lot whichever is high|
|Currency Futures||0.05% or 5 paisa|
|Currency Options||1% of Premium or Rs 100 per lot whichever is high|
|Commodity||0.05% or 5 paisa|
For complete brokerage charges and trading plans detail please visit India Infoline (IIFL) Brokerage Charges.
The proprietary trading software of IIFL offers unmatched trading convenience. The trading terminal can be used as a desktop application as well as a browser-based web application. IIFL Trader Terminal is a world class Trading tool with superior charting and analytical capabilities. With Trader Terminal you can trade in cash, derivatives, mutual funds, IPOs, currencies and commodities, all in one screen. You also get fast trade execution, live chat, live research and news, streaming quotes and multiple market watch.ttweb.indiainfoline.com
TT web is the secure web portal of IIFL trader Terminal where you can trade online using their finest web Browser. Single Sign On, Secured Authentication, Integrated platform, Latest business news, heat map, F&O data tools and chart, high speed order execution etc. are to name some of its powerful features.IIFL Markets Mobile App : This is the highest rated Trading App of IIFL enriched with features like access to all asset class, customizable multiple watch-list, detailed Dashboard for Indices, commodities and currencies; research report on top 500 stocks; place/modify/cancel order; apply for IPOs/OFS.TT Mobile - IIFL's mobile Trading application is robust and powerful mobile trading app. Key feature of this app is Market watch, Buy / Sell links and easy to view pages displaying the status of your orders and trades placed.
For detail review of mobile app and download please visit India Infoline (IIFL) Trading Platform Review.
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IIFL claims to have fast account opening process with superior customer service and cutting edge technology for Mobile Trade, Web Trade and terminal base trading. While IIFL does not have any drawbacks in terms of services as a full service broker but has to compete with new breed of brokers in the market i.e. discount Brokers.They started and closed their flat brokerage services.
IIFL tried hands for discount Broking but pull it back for some reason which proves that even full service Brokers are daring to jump into discount Brokerage which is a good sign for customers as they may get some discounted brokerage from their current Brokers.
If you like what you have read and want to open an trading and demat account with India Infoline (IIFL), leave your contact information with us and we will guide you.