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IIFL Securities NRI Trading Review 2024

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India Infoline Limited NRI Trading
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IIFL Securities offers NRI Demat account and NRI Trading Account to facilitate online NRI trading services. IIFL NRI Account holders can trade in a wide range of investment products i.e. equities, futures & options, IPO, mutual funds, bonds, PMS, bonds, and others. People can open IIFL NRI account online or offline as per their choice. NRIs can also get the IIFL research-backed advisory services. IIFL provides excellent NRI customer services through in-person dedicated relationship manager and on-call customer support. On this page, get the IIFL Securities NRI trading review including the IIFL NRI Account opening process, required documents, IIFL NRI Account Opening charges, IIFL NRI brokerage charges, and others.

IIFL NRI Trading

To start NRI trading with IIFL, the following accounts must be opened;

  1. IIFL NRI Trading Account: NRI Trading account is necessary to open to place online buy and sell orders across various investment products i.e. equities, mutual funds, bonds, IPO, F&O, etc.
  2. IIFL NRI Demat Account: Demat account keeps purchased securities through the NRI trading account in dematerialized or electronic format. IIFL being a CDSL and NSDL DP offers Demat account opening services to Indians as well as Residents.
  3. NRE or NRO bank account: NRI client must have a bank account that can be either an NRE or NRO account. If an NRI client has linked the NRE account to his NRI Demat and trading account, then only equity delivery trading is permissible whereas NRO account holders can trade-in equity delivery, mutual funds, and F&O means derivative segment.

IIFL NRI Services

IIFL Securities offers a range of products and services to NRI clients;

  • Equity trading – Only cash segment
  • Derivative or F&O Trading
  • Online Mutual Funds investment
  • Alternate Investment Funds (AIF)
  • Portfolio Management Services (PMS)
  • Initial Public Offering (IPO)
  • Bonds

IIFL NRI Account Opening Process

Clients can open an IIFL NRI Investment Account by filling the online account opening forms and uploading scanned documents online.

Steps to open IIFL Securities NRI Account online:

  1. Visit the IIFL website and go to NRI services. (https://nri-eaccount.indiainfoline.com/)
  2. Login details: Enter log in details i.e. name, e-mail ID, country, overseas mobile number, etc and press the “submit” button
  3. Personal details: Provide PAN number, DOB, aadhar number, etc.
  4. Address details: Enter your address of correspondence for the communication purpose.
  5. Bank details: Provide bank details like account number, IFSC code, branch name, etc.
  6. Upload documents: Provide scanned copies of documents like address proof, bank proof, passport, etc.

Ways to open IIFL NRI Trading Account

IIFL NRI Account Opening Charges

IIFL charges an account opening fee and Annual Maintenance charges (AMC) on NRI demat and trading account. Here are the charges details:

S. No. Particulars Charges
1. IIFL NRI Account Opening Charges Rs. 750
2. IIFL NRI Account AMC Rs. 400 + Applicable GST

IIFL NRI Brokerage Charges

IIFL Securities offers online trading in equity delivery, F&O, IPO, MF, bonds, PMS, etc. Here are the IIFL Securities NRI brokerage charges;

S. No. Particulars Charges
1. Equity Intraday brokerage NA
2. Equity Delivery brokerage 0.50%
3. Equity Futures Brokerage
4. Equity Options Brokerage
5. IIFL Commodity Brokerage NA
6. IIFL Currency Brokerage NA

IIFL NRI Account Opening Documents

Here is the document checklist that an NRI client must keep handy while opening IIFL NRI account online;

  • PAN Card
  • Passport
  • Visa/OCI/PIO
  • Overseas/Indian Address Proof
  • A canceled cheque for bank proof
  • PIS permission letter for NRE Investment

Note: All the above NRI documents must be attested to the notary public.

IIFL Securities NRI Mutual Fund

NRI account holders can undertake online mutual fund investment with IIFL Securities. Key features of IIFL NRI Mutual Fund investment are as follows:

  • Online investment in direct and regular mutual funds.
  • Invest in MFs through the IIFL MF app or the IIFL website.
  • Track your mutual fund investment portfolio online.
  • Start MF SIP or lumpsum as per your choice.
  • Get the best mutual fund research and recommendations.

IIFL Securities NRI Trading Platform

IIFL Securities offers its trading platforms completely free to both the residents and NRI clients. Here are the IIFL NRI online trading platforms;

  • IIFL Markets App: This is the IIFL mobile application that facilitates trade on your fingertips. The advanced mobile trading application comes with many features such as free guest login, watchlist, news coverage, price alerts and notifications, advanced technical charting, etc.
  • IIFL Mutual Fund App: This is the mutual fund mobile app that facilitates residents and NRIs to invest in MF anytime anywhere. The mobile app facilitates trade-on-the-go and online MF portfolio tracking and monitoring. IIFL MF app is downloadable on
  • IIFL Trader Terminal Web: It is the IIFL trading website that is accessible on any supported browser. NRIs can log in to the IIFL TT Web and start online trading and investment.
  • IIFL Trader Terminal: This is the IIFL desktop trading software that can be installed on a computer or laptop. Powerful charting, trade-in multiple products, faster trade execution, etc. make the trading terminal the best platform for high-level intraday traders.

IIFL Securities NRI Trading Cons

  • IIFL NRI clients can’t trade in the currency derivative segment.
  • NRI customers are not allowed to do intraday trading.
  • Commodity trading is not available to NRIs.
  • NRI can’t open a 3-in-1 account with IIFL.
  • Higher IIFL NRI Account Opening charges than discount brokers i.e. Zerodha, Upstox, etc.
  • High equity delivery brokerage charges of 0.50% than Zerodha NRI brokerage of 0.10%.

IIFL Securities NRI Customer Care

NRI clients can call at the IIFL NRI support desk, customer care number, or drop their query on mail and the customer service team will respond to you.

  • IIFL Securities NRI customer care number: +91 22 4007 1000
  • IIFL Securities NRI customer care E-mail ID: [email protected]
  • IIFL Securities Whatsapp number: 7777081212
Request call back from IIFL Securities

FAQs

Reasons to open IIFL NRI Trading Account:

  • Trade-in multiple investment products i.e. equity, F&O, MF, PMS, IPO, etc.
  • Dedicated NRI services: Relationship manager and on-call customer services.
  • Open instant online NRI trading account with IIFL through video verification.
  • Online mutual funds investment through IIFL MF app or website.
  • Award-winning best financial advisory services for NRIs.
  • Wider distribution network.

 

IIFL Securities offers online NRI trading services. An NRI client can trade with IIFL through opening IIFL NRI Demat and Trading Account.

Steps to open IIFL NRI Account Online

  • Enter name, number and e-mail to get Login details.
  • Provide PAN number, Aadhar number, DOB, etc.
  • Enter your corresponding address.
  • Provide NRE or NRO bank account details.
  • Upload documents i.e. Bank proof, address proof, ID proof, PIS permission letter, etc.

 

Yes, IIFL NRI account holders are allowed to invest in online mutual funds with IIFL. The broker facilitates online mutual fund investment in the direct as well as regular plans. Direct mutual fund investment is commission or brokerage free whereas investment in regular schemes is charged with upto 1.5% commission. NRI customers can invest in IIFL mutual funds on IIFL website or IIFL Mutual Fund App.

 

Yes, likewise residents, NRI customers are allowed to invest in IPOs online with IIFL. If you are an NRI and opened IIFL NRI trading and Demat account then you can apply for IPO online. Notably, NRI customers can invest in IPO only through ASBA (Applications Supported by Blocked Amount) or the net banking route.

 

Yes, IIFL Securities with a global presence in countries such as Canada, India, Mauritius, Hong Kong, Singapore, UK, UAE, Switzerland etc. facilitates offline NRI account opening services. To open the IIFL NRI account offline, they have to download the IIFL NRI Account Opening form from the website, provide all information in the form, attach mandatory documents, and submit to the broker’s office.

IIFL Securities NRI Account Opening Form

 

Last Updated on 2023-09-14