This article will provide an IIFL review concerning its Z20 plan, brokerage charges, margin provided by IIFL, and their award-winning mobile app IIFL Markets.
India Infoline securities was incorporated in 1995 as part of the IIFL group. IIFL provides various financial services like equity broking( share market trading and investing), commodity broking, Mutual fund investments, Insurance, and Loans.
|IIFL or India Infoline Overview|
|Broker Type||Traditional, Discount Broker|
|Product and Services||Equity,Commodity,Currency,Mutual Fund|
|Research Service||Daily,Weekly,Monthly, Company specific research|
IIFL offers services through its more than 4000 branches networks spread across the country.
IIFL is an ISO 27001 certified company, which demonstrates its ability to provide excellent service to their customers. IIFL is a Sebi registered stockbroker with registration number INZ000164132.
There can be many reasons to join or not to join IIFL. I think one of the most important reasons to join them is because they invest in technology.
IIFL has one of the best trading software ( desktop as well as a mobile app). Also, for people who have good knowledge of technical analysis, IIFL has tied up with Spider software to provide the best real-time technical analysis software.
One of the core ingredients to get success in the field of stock market investments is knowledge.
IIFL tries its best to provide training to all of its customers without any charge.
IIFL Brokerage charges 2020
IIFL started its services in 1995 as a traditional broker. They used to charge as a % of the total transaction.
With the increase in competition in the brokerage industry and success of discount brokerage firms like Zerodha, IIFL has also recently started to offer discount brokerage services under the plan name IIFLZ20.
If you want to open online account you can click here
You need to provide your name, mobile number and email id to register.
IIFL trading software
IIFL is leading the way in terms of its trading software and its user-friendliness.
IIFL has four broad categories of softwares for trading purposes.
- TT Web: It is a web-based trading software, which can be used from any web browser. All the products ( Equity, Derivative, Mutual Fund, Currency, commodity) can be accessed from this.
2. TT Advance: It is an exe based application for trading. It is simple yet powerful and provides broker terminal like keyboard shortcuts.
All the products ( Equity, Derivative, Mutual Fund, Currency, commodity) can be accessed from this.
3. IIFL Markets: This is an Award-winning mobile app from IIFL. Its speed of execution, user-friendliness, research are the main features that differentiate this app from other trading apps.
The popularity of this app can be understood from the fact that it has more than 1 million downloads with a rating of 4.1.
4. IIFL TTIRIS: If you are a professional technical analyst and looking for world-class trading software, which can provide you all the technical features and facilities to trade from the charts, then you must go for TTIRIS.
IIFL has tied up with Spider Software, India’s best software company, which makes financial software.
TTIRIS is the real-time software that is currently available for equity and derivatives. And very soon it will be there for commodity and currency also.
TTIRIS is a paid software with annual charges of 54,000. If you open an account through us, you will get a free one week trial of this software and will also get a massive discount on a yearly subscription.
I have reviewed this software separately.
|Commodity( Agri and Non Agri)||Yes|
|Online Mutual Funds||Yes|
|SIP ( Systemetic Investments Plans)||Yes|
|Insurance( Life, Health)||Yes|
|Loan( Home, Personal, Gold)||Yes|
Leverage / Margin
|Equity Intraday||Up to 15 times|
|Equity Delivery||Up to 4 times|
|Equity Futures||Up to 5 times|
|Equity Options (selling)||Up to 5 times|
|Currency Futures||Up to 8 times|
|Currency Options||Up to 5 times|
|Commodities||Up to 8 times|
|Agri Commodities||Up to 4 times|
Please do note that the above leverage depends on market volatility, regulatory body instructions, and RMS. Hence it can change from time to time.
How to open free Demat and Trading Account
To open a free online paperless Demat and trading account of IIFL, you need to click here.
You need to provide your Name Mobile number and Email address to register.
After registration, you need to provide you details like PAN number, bank account details, address proof, photograph. You have to upload soft copy of the documents.
Once done, your account will be verified by IIFL and will get opened. In any step, if you face any difficulty, you can chat with customer care during market hours.
If you want to know more about Demat and trading account, you can check this article.
IIFL provides a seamless way to open an online account and trade with all the instruments.
Pros with opening account with IIFL includes all the products under one roof, online account opening, fastest trade execution, low brokerage( with Z20 plan), lowest AMC charges of 250 rupees + GST / year, low DP charges of 12 rupees per debit instrument ( irrespective of quantity), free delivery trades.
Some of the cons include payment gateways charges of 8 rupees + GST, call and trade will be additional 20 rupees, no tie-ups with banks to provide 3 in one account.
Features and IIFL review final verdict
|Mobile App for Android and Apple||Yes|
|Technical analysis special software( paid)||Yes|
|Online Fund Transfer Facility||Yes|
|Intraday, Daily charts||Yes|
|Top Gainers/Losers display||Yes|
|Call and Trade||Yes(Additional 20 rupees)|
|AMC||250+GST per year|
|DP Charges||12 per debit instruction|
|3 in 1 trading account ( with bank account)||No|
|Online hassle free account opening||Yes|
Overall if you are looking for a stockbroker who has all the products and the charges are also equivalent to discount brokers, whereas service is of a regular broker, then you must choose IIFL as your broking partner.
To open your account with IIFL through us, you can visit the IIFL account opening page and open a free Demat and trading account.