Comprehensive study and detailed India Infoline (IIFL) review about its products, service, key features, IIFL brokerage charges, and other benefits.
IIFL Securities is one of the biggest retail brokers which is a part of an IIFL Group, India’s biggest financial service provider. IIFL group enjoys the reputation of becoming the leading financial service company.
From online trading and investment to well-researched advisory services, IIFL Securities has created its own brand in the fast-growing Indian economy. There are quite a few stockbrokers in India whose in-house research and advisory services had been award-winning amongst all others and IIFL Securities is one of those few.
The India Infoline (IIFL) review article is exclusively made available to you that will serve as your complete manual and will enable you to study the IIFL Securities from the start to finish including its origin, the fees they charge.
We will also include why is IIFL safe and it is recommendable to trade through IIFL, what are its cons, what range of other products and services they offer apart from the stockbroking service, and much more.
The History and Journey of IIFL
‘An ex-commodity trader in HUL leaves his job to become a billionaire’ may sound unrealistic to you but the truth is Mr. Nirmal Jain, promotor of IIFL Holdings Limited has given his company a well-recognized brand name when he founded IIFL Group in 1995.
The country’s first online trading website was initiated by him in the year 2000. A brief look at his education makes anyone wonder how he could make it to get the double degrees called Chartered accountancy from the Institute of Chartered Accountants of India and Master of Business Administration from Indian Institute of Management – Ahmedabad.
There is one more feather to his qualification and that is he is a qualified Cost Accountant from the Institute of Cost Accountants of India.
He initially started the company as an equity research firm and gradually he diversified his products and services and today they provide Life Insurance, stockbroking service, Mutual Fund Distribution, Commodities, Fixed Deposits, Loans, IPO, Bonds, NRI Services, and other financial services.
The very popular among the retail traders, IIFL Securities is present in almost every major city, and not only that, but they also have their branches across the globe including Dubai, New York, Colombo, London, Mauritius, Singapore, and Hong Kong.
The launch of the Financial Inclusion Program by Prime Minister Narendra Modi supported Mr. Jain and encouraged people to invest in stocks and the company was able to increase their investors post this program.
IIFL Securities is a part of the IIFL group that is one of the leading financial service providers in India providing wealth management, consumer finance, asset management, and personal finance services. He emphasizes on his knowledge from the CA course especially of accounts and law has enabled him to become a successful broker that eventually led him to be an inspiring entrepreneur.
The Full-Service Broker has a presence across NSE, BSE, NCDEX, and MCX. Their expertise in providing customized products and services across the country as well as abroad has helped them gain huge customer trust to their satisfaction. They also developed a well-trained customer support team that is professionally structured and is available anytime and anywhere to solve investors’ queries.
Due to their magnificent trading services, the stockbroker has made its own brand in not only trading services but also all types of financial services. It was awarded the ‘Best Broker with Global Presence’ by BSE IPF. It also launched the ‘5 Paisa’ retail trading platform that offers discount brokerage charges.
List of IIFL Charges: Brokerage, Demat, Account Opening, and Other Related Charges
Variable Brokerage Plans:
Delivery Cash Volume: Brokerage applicable both sides
|Monthly Volume (in lacs)||Delivery Brokerage Rate (in %)|
Intraday Cash Volume: Brokerage applicable both sides
|Monthly Volume (in lacs)||Rate (in %)|
Futures Volume: Brokerage applicable both sides
|Monthly Volume (in lacs)||Intraday (in %)||Settlement (in %)|
Options Volume: Brokerage applicable both sides
|Monthly Premium Volume**(in lacs)||Intra Day (in %)||Settlement (in %)||Min Brokerage per lot(Intraday)||Min Brokerage per lot(Settlement)|
|Up to 4 lacs||2.5||2.5||100||100|
** Premium volume is (premium*lot size*No of Lots)
India Infoline (IIFL) Review – Flat Brokerage Plan:
|Intra-day both side||0.05%|
|Delivery (Normal) settlement||0.50%|
|Trade for Trade and Z group scrip||0.75%|
|Brokerage (FUTURES) both side||0.05%|
|Brokerage (OPTIONS) Minimum||1% of Premium or Rs.100/- per lot whichever is higher|
|Minimum per share Brokerage||Rs. 0.05|
Value Added Subscription Plan :
|Subscription Plans||Default Plan||V1000||V2000||V5000VAS||V10KVAS||V25KVAS||V50KVAS||V1LVAS|
|Value Added Subscription Value (Rs) (a)||Nil||1000||2000||5000||10000||25000||50000||100000|
|Goods and Services Tax (Rs) (b)||As per Current Applicable Rates|
|Account Opening fee (c)||Rs. 750/-**||Nil||Nil||Nil||Nil||Nil||Nil||Nil|
|Initial Margin ©^ Total Margin Cheque (a+b+c)|
|Intraday Trading Brokerage CM-each leg||0.05%||0.03%||0.02%||0.04%||0.03%||0.02%||0.01%||0.01%|
|Trading Brokerages Futures- each leg||0.05%||0.03%||0.02%||0.04%||0.03%||0.02%||0.01%||0.01%|
|Intraday Trading Brokerage Futures-each leg||0.05%||0.03%||0.02%||0.04%||0.03%||0.02%||0.01%||0.01%|
|Options Trading Brokerage-each leg||1% of premium or Rs 100/- per lot whichever is higher||1% of premium or Rs 70/- per lot whichever is higher||0.50% of premium or Rs 60/- per lot whichever is higher||1% of premium or Rs 90/- per lot whichever is higher||1% of premium or Rs 70/- per lot whichever is higher||0.50% of premium or Rs 60/- per lot whichever is higher||Flat Rs. 40/- per lot||Flat Rs. 20/- per lot|
|Minimum Per Share Brokerage (Rs) (Delivery, Futures and cash Intraday)||0.05||0.05||0.03||0.05||0.05||0.03||0.01||0.01|
|Validity Period||12 Months||1 Month||1 Month||12 Months||12 Months||12 Months||12 Months||12 Months|
Key Features of India Infoline (IIFL)
- The Cutting edge technology of IIFL makes it user friendly and easy to trade and invest any time anywhere.
- The panel of experts produces well-researched reports, charts, tips and recommendations that help investors make efficient decisions.
- The platform is quite user friendly in a way that there is no specific training required for any new investor. Everybody using the service will be able to easily go through all the features and the investing and trading are made very easy for everyone.
- The personalized advisory services are given to each client exclusively and that is why the company attracts more customers.
- They also provide customer-centric brokerage plans based on the requirements by each investor and trader being either a regular investor or an active trader.
India Infoline (IIFL) Review – Products and Features
In order to stay competitive, the firm launched many products to expand their reach and to overcome some challenges they were facing. Below is a brief on what each product provides:
Products: The range of products IIFL offers includes trading in Equity, Commodity, Currency, Options, Futures, Mutual Funds and Forex. The main objective of the company is to meet the financial goals of their investors efficiently and effectively. For better convenience, the broking house provides support for the trading and its related reports. They also provide customized products based on the requirements of each investor.
Services: The extensive services offered by the full-service broker contains Demat, Trading, Intraday, IPO, Stock Advisory and Portfolio Management Services. The company is known for providing tailor-made services. The continuous support from the company executives helps investors to maintain a strong portfolio base. All transactions are provided on a technology-based platform from where investors can easily track their holdings. The service of providing expert tips with research reports and analysis are appreciated by the majority of their users.
IIFL Research and Advisory: The company is renowned for its advisory and research-related services. This includes fundamental reports, company reports, annual reports, IPO reports and other regular frequency reports. They also provide a daily market review as well as the company stock review reports.
IIFL Markets App: Ranking amongst the highest-rated trading app, it provides its users smooth trading and investment platform along with online research reports and stock tips, any time available customer support and many more.
TT Website and Desktop Software for Trading: The website and the desktop software are specifically designed keeping into mind the users’ demands and needs and ease of access to trade from the website as well as the software for the PC.
TT Iris: With an annual charge of Rs. 54,000, the TT Iris focuses on the frequent traders where this decision-making software enables investors and traders to study real-time market updates with the latest information and such software also provides personalized charting, portfolio optimization, candlestick scanners, strategy testing and the price watch.
IIFL Mutual Fund App: This smartphone app allows its users to buy, sell, create SIP, and monitor the performance of their mutual funds online. It also provides online opening of the account without any requirement to submit any documents. Equipped with the latest updates and news alerts relating to this industry, the app is a go-to guide for every investor for his investments into mutual funds. We would suggest reading IIFL mutual fund review to get the right insights.
India Infoline (IIFL) Review – Pros and Cons
Talking about the pros and cons of trading with IIFL Securities, it should be noted that the below are the generalized Pros and Cons and it may be different from person to person as the need and requirement of trading and investment will also change from one person to the other.
- The review and research report by experts are available for free and not only that they also provide stock tips and recommendations to their investors.
- They accept personal Fixed Deposits as collateral security for the margin funding.
- The IIFL Securities have a presence in many major cities as well as outside India.
- Their trading platform ‘Trading Terminal’ provides advanced technology-based trading and investment solutions.
- They offer a dedicated team of customer support executives who are well-structured and for the personalized needs, they also provide the relationship managers.
- It serves as your one-stop solution for your trading as well as financial related needs.
- They do not offer 3-in-1, trading, Demat and bank account service
- IIFL brokerage charges are almost 60% higher than the other full-service stockbrokers.
- The mutual fund app does not offer direct investment.
- The subscription fees are non-refundable and the brokerage plans selected can not be changed during the validity period.
- They only offer online trading and hence offline trading is not available.
- Margin calculator and IIFL brokerage calculator is not provided to know how much it will cost for a particular transaction.
A detailed India Infoline (IIFL) review – one of the best discount brokers in India to answer the question, ‘Is IIFL safe?’. In this article, we have covered all the important details of India Infoline (IIFL) – review, IIFL brokerage charges, Demat account, margin, benefits, and more. Check reviews of other top brokers on Nifty Brokers.