IIFL or India Infoline is a renowned stock broker in India with several trading platforms, structures, brokerage plans, and so on. It’s a reliable financial service provider quickly growing into a leading brand.
Another known company, 5paisa, is an extension of IIFL and offers Rs. 20 per trade.
Its client base has more than 2 lakh people, and provides a complete service to its customers. This IIFL review will focus on all the features, drawbacks, brokerage charges, and more. So let’s take a look.
Why choose IIFL?
There are several reasons why you should choose IIFL, such as the segments you can invest in, which are –
- Equity
- Derivatives
- Currency
- Mutual Funds
- IPOs
- Bonds
- Commodities
Apart from this, here are some advantages you’d enjoy if you go ahead with this brokerage platform.
Pros
- Flexible brokerage plans
- Option to invest in different segments
- Vast network across India and abroad
- They have one of the best desktop trading platforms, Trader Terminal
- No account opening charges and free AMC for the first year
IIFL Brokerage Charges
| Segment | Charges |
| Delivery Brokerage | Zero for all trades |
| Equity Intraday, Futures and Options, Currency and Commodity | Rs. 20 per trade or 0.05%, whichever is lower |
| Equity Options | Rs. 20 per order |
India Infoline Account Opening Charges
- Trading account opening charges – zero
- Demat account opening charges – zero
- Trading account maintenance charges – zero
- Demat account maintenance charges – free for the first year and Rs. 450/year from the second year onwards
IIFL Transaction Charges
The transaction charges levied on the traders vary based on the segments. Provided below is a comprehensive list of the same.
| Segments | Transaction charges |
| Equity Delivery | Rs 335 per Cr (0.00335%) |
| Equity Intraday | Rs 335 per Cr (0.00335%) |
| Equity Futures | Rs 195 per Cr (0.00195%) |
| Equity Options | Rs 5300 per Cr (0.053%) (Premium) |
| Currency Futures | Rs 210 per Cr (0.0021%) |
| Currency Options | Rs 5100 per Cr (0.051%) (Premium) |
| Commodity | Group A: Rs 280 per Cr (0.0028%) |
IIFL Trading Margins
For the cash delivery segment, IIFL margins five times, while here’s a complete list for the rest.
| Segment | Intraday Order | Cover/Bracket order |
| Cash Intraday | Up to 20x | Up to 20x |
| Index and Stock Futures | 4x | 25% Exchange margin + SL margin |
| Index Option Sell | 4x | 25% Exchange margin + SL margin |
| Index Option Buy | 3x | 25% Exchange margin + SL margin |
| Stock Options Sell | 2x | N/A |
| Stock Options Buy | 1x | N/A |
IIFL Other Charges
There are a few other charges that India Infoline levies on its clients and they are as follows:
| Segments | Charges |
| Reactivation Charges | Rs 20 per instruction |
| Account Closure Charges | Rs 20 per instruction |
| Dematerialisation Charges | Rs 17.7 per certificate |
| Pledge Creation | Rs. 10 |
| Pledge Invocation | Rs. 10 |
| Margin Pledge/Unpledge/ Pledge closure | Rs. 15 |
| Margin Repledge | Rs. 25 per scrip (Rs. 12.5 + Rs. 12.5) |
IIFL Trading Platforms
As mentioned earlier, IIFL trading platforms are quite popular, and now you can know the secret as to why they are worth considering.
1. IIFL Trading Terminal
This platform is for desktop users who’d have to install the software from their website. Along with this, you’d have to download the .net software for it to function efficiently. For now, this software is only available on the Windows operating system. It has multiple features, such as:
- Numerous charts, technical indicators, and heat maps
- Real-time market trends
- Quick execution of trades
- High security
- Customize option is available for widgets, dashboard, alerts, etc
- Transfer of funds across 40+ banks is possible
2. IIFL Markets
This advanced mobile trading app is compatible with Android, iOS, and Windows users. Here are the features it offers:
- You can create a stock list of up to 50 stocks.
- Trade with a single swipe to avoid delays in orders
- Other people’s market views on the message board
- Set alerts based on different parameters
- Apply for IPOs through the mobile itself
3. IIFL Trader Terminal Web
Since this platform is browser-based, there’s no need to install a software. You can access this from anywhere; however, it’s slightly slower than the other platforms. Its features are as follows:
- Different types of charts and data tools
- Heatmaps
- Research reports and investment advice
Cons
Even though IIFL seems like one of the best options, it still has drawbacks.
- No Intraday charts available in the Investor Terminal
- Not as efficient as other brokers in ICICI Direct, investing in IPO and mutual funds, etc.
- It doesn’t offer 3-in-1 Demat account
- Several complaints at BSE and NSE
Faqs
Is IIFL suitable for beginners?
Yes, IIFL is good for beginners as it’s easy to use and has several trading platforms that offer real-time market analysis and guide the clients to make the right decision.
What is the brokerage of IIFL?
IIFL doesn’t have a fixed brokerage fee; instead, it offers different brokerage plans that suit the customers’ needs. There are different charges for each brokerage plan.
Does IIFL provide research?
Yes, IIFL does provide research to its clients or investors. The research analysts provide stock analysis and reports to assist investors in making the right call regarding their orders.
Conclusion
The purpose of this IIFL securities review was to make sure that people knew their options before making a decision. There are numerous brokerage companies offering their clients the best services and functions; however, you need to make an informed decision regarding the platform you want to choose.
This IIFL platform is suitable for beginners and is one of the most trusted discount brokers.