IIFL Securities: Trading & Demat Account, Reviews, Charges: 2024

IIFL Securities is one of the leading broking firms in India with a financial parent body, IIFL group. Founded in 1995 by Nirmal Jain, this group is a renounced financial service provider with a variety of products and services. From broking to wealth management, India Infoline group has spread its arms in all possible financial sectors and has also bagged multiple awards for the same all these years.

In this article, we will cover a complete review of the broking sector of IIFL, its charges, steps to open an account, and the software it provides.

India Infoline Securities: Overview

IIFL Securities is a full-service broking company spread across major cities of India and adhering to a wide range of investors' needs. They offer a complete trading solution including online presence and researched advisory by professionals of the industry. Mr. Nirmal Jain, the chairman of the IIFL group was also one of the pioneers of online broking services in this country.

They are registered with the NSE, BSE, MCX, and NCDEX exchanges and provide financial services to not just local, but a global audience and have been awarded as the 'best broker with global presence' by BSE IPF. India infoline securities have a presence in Colombo, Dubai, NewYork, London, Singapore, and Hong Kong.

The products offered by the company include Equity, commodity, Options, Mutual Funds, and  Forex to services. They also launched the brand 'MPaisa', the infamous online retail trading platform offering discount broking services.

IIFL: Brokearge Plans

IIFL offers 3 brokerage plans customized to the needs of the customers namely Flat brokerage plan, Variable brokerage plan, and Value-added subscription plan. In general, the trading fee with the company is Rs.400 for Annual account maintenance and a margin amount of Rs.10,000 before beginning the trade that is refundable. The opening and maintenance of the Demat account if free of cost. Now, Let's understand and compare the plans to find out what best suits your needs.

1. Flat Brokerage Plan:

This plan is suitable for the seldom traders and charges a fixed brokerage on the total traded shares. In the case of Intra-day, delivery, and futures trading, that fixed value is 0.05% in both buying and selling. In the case of options, it is 1% of the premium or Rs. 100 per lot, whichever is the higher amount. this is a relatively costlier plan than the other two.

2. Variable Brokerage plan:

The brokerage charged in this plan differs with the volume of trades made in a month and is suitable for a little more frequent traders. For intraday and futures trading, the brokerage ranges from 0.02% to 0.05%. However, in delivery trading, it goes up to 0.15% to 0.60%. If you are trading options in this plan, 1-2.5% of the premium is charged or Rs.100 per lot, whichever is higher.

3. Advanced Brokerage plan:

This plan is divided into 7 offers ranging from Rs.o to Rs.1,00,000. It is designed for regular traders wherein they can pay a certain amount to avail huge discounts on brokerage. The Rs.0 plan is called the default plan which has the highest broking percentages moving in descending order till the V1LVAS plan that is for 1lac, annually.

IIFL Trading Tools

There are a variety of trading platforms developed by the IIFL group, most of which are free to use by customers. Let's look into them:

1.India Infoline Mobile application: Markets

IIFL markets app is a user-friendly trading interface available on both iOs and android stores. It is one of the leading trading applications with thousands of new downloads every month. Traders use it to monitor the market in their hands, by real-time notifications of change or fluctuation in the portfolio.

With a platform to trade, this application provides you with researched reports, analyzed material and live updates and tips of the stock market. Other key features of the app include customizable and multi-channel watch lists and quick access to currency and commodity trading.

2.IIFL Trading terminal: TT.EXE

It is an installable trading software designed for day traders to perform high volume trades. termed as TT edge, it a super-fast interface with flexible navigation and intelligent charting with the aim of creating smart-traders. One can place after-market orders using this software and pay easily using regular banks like HDFC, ICICI, Citi Bank, and UTI.

One can easily customer the layout of the terminal to create the desired watch lists and other widgets. Another key features the one-click cancellation of all pending orders and one-click square off of all transactions.

3. TT-Iris

It is third-party software designed and built by the Spider software India, especially for frequent traders. In this software, you can optimize your portfolio according to the researched advisory given by the broker and also get your strategies tested, real-time.

Together with live market updates and reports, it comes with unique features like a candlestick scanner to find potential trading opportunities. Its comprehensive data helps in making better trade decisions.

4. IIFL MF App

The India Infoline Securities Mutual Fund application is a smartphone user-friendly and tech-savvy interface to invent online in MFs. It allows you to view and compare various mutual fund schemes while buying and live-time monitoring after buying it. It is available on both android and apple store and also facilitates paperless account opening.

Apart from this, the application also contains insights from the MF industry, expert talks, and customized advice. It is often used by investors to keep a close watch on the Mutual Funds in their portfolio.

IIFL Securities: Final Review

IIFL has managed to create a noteworthy reputation in the capital market after all these years of excellent service. Although they have little to no physical trading, the online portals are booming with thousands of traders every day.