India Infoline (IIFL): Detailed Review

India Infoline (IIFL) - Brokerage Charges, Demat/Trading Account, Trading Platforms, Products and Services, Pros and Cons, comparisons, How to apply for a Demat etc.

IIFL Company Info

IIFL

India Infoline (IIFL) was founded in 1995 by Mr. Nirmal Jain along with a group of passionate consultants. It started the broking business by opening the trading portal 5paisa in 2000.

As days passed by, IIFL has evolved into a fully diversified financial services company with the backing of investor Prem Watsa, PE firm General Atlantic and the UK Government’s private equity arm CDC Group. It currently ranks seventh in the list of top financial services conglomerates in India.

It has more than 10,00,000 customers since inception and currently has a market share of more than 4% share of daily cash turnover in both retail and institutional segments.

The company provides trading execution, financial advisory and equity research service across equity, F&O, Commodity & Currency and Mutual Funds.

Awards: Drivers of Digital Awards, 2018, Mobby’s Award – Best Financial Website, Best Private Banking Services Overall in India for 2017 by Euromoney, Dealing Room Heroes, 2017 by ET Money

Founders: Nirmal Jain
Headquarters: Mumbai

IIFL – Key Metrics for Evaluation

1. Brokerage Charges

TypeInvestor PlanPremium PlanSuper TraderVariable
Brokerage Plan
2500 VAS Plan5000 VAS Plan10K VAS Plan15K VAS Plan25K VAS Plan45K
VAS Plan
75K VAS Plan1lac VAS PlanSTT/CTTNSE TransactionBSE TransactionGSTSEBIStamp Charges
Minimum Charge₹25 per script₹50 per script₹10 per script₹25 per script₹0.05 per share₹0.05 per share₹0.05 per share₹0.04 per share₹0.03 per share₹0.01 per share₹0.01 per share₹0.01 per share18%
Initial Margin0.50%0.35%0.30%0.25%0.20%0.15%0.10%0.09%0.07%18%
Monthly Subscription₹999
Equity Delivery0.25%0.50%0.1%0.15%-0.60%0.04%0.03%0.03%0.02%0.02%0.01%0.01%0.01%0.1%0.00325%0.00325%18%₹5 / crore0.015%
Equity Intraday0.025%0.05%0.01%0.02%-0.05%0.04%0.03%0.03%0.02%0.02%0.01%0.01%0.01%0.025%0.00325%0.00325%18%₹5 / crore0.03%
Equity Futures0.025%0.05%0.05%0.02%-0.05%0.04%0.03%0.03%0.02%0.02%0.01%0.01%0.01%0.01%0.002100%0.002100%18%₹5 / crore0.002%
Equity Options₹25₹50₹101-2.5% of Premium or ₹40-100/- per lot*1% of Premium or ₹90/- per lot*1% of Premium or ₹80/- per lot*1% of Premium or ₹70/- per lot*1% of Premium or ₹60/- per lot*0.5% of Premium or ₹60/- per lot*0.5% of Premium or ₹50/- per lot*₹25/- per lot₹20/- per lot0.05%0.051% on premium0.051% on premium18%₹5 / crore0.002%
Currency Futures₹20 per lot*₹25 per lot₹5 per lot0.02%-0.05%0.04%0.03%0.03%0.02%0.02%0.01%0.01%0.01%0.002100%0.002100%18%₹5 / crore0.0001%
Currency Options₹8 per lot₹10 per lot₹15 per lot1-2.5% of Premium or ₹40-100/- per lot*1% of Premium or ₹90/- per lot*1% of Premium or ₹80/- per lot*1% of Premium or ₹70/- per lot*1% of Premium or ₹60/- per lot*0.5% of Premium or ₹60/- per lot*0.5% of Premium or ₹50/- per lot*₹25/- per lot₹20/- per lot0.051% on premium0.051% on premium18%₹5 / crore0.0001%
Commodity Futures0.025%0.05%0.015%0.02%-0.05%0.04%0.03%0.03%0.02%0.02%0.01%0.01%0.01%0.01%0.002800%0.002800%18%₹5 / crore0.002%
Commodity Options₹10 – ₹125/- per lot*₹15 -₹150/- per lot*₹5 -₹80/- per lot*1-2.5% of Premium or ₹40-100/- per lot*1% of Premium or ₹90/- per lot*1% of Premium or ₹80/- per lot*1% of Premium or ₹70/- per lot*1% of Premium or ₹60/- per lot*0.5% of Premium or ₹60/- per lot*0.5% of Premium or ₹50/- per lot*₹25/- per lot*₹20/- per lot0.05%0.051% on premium0.051% on premium18%₹5 / crore0.002%
A/C Opening₹250**₹250**₹250**₹750***₹750*** + ₹2500₹750*** + ₹5000₹750*** + ₹10K₹750*** + ₹15K₹750*** + ₹25K₹750*** + ₹45K₹750*** + ₹75K₹750*** + ₹1lac
Demat AMC₹250₹250₹250₹250₹250₹250₹250₹250₹250₹250₹250₹250
Trading AMCNILNILNILNILNILNILNILNILNILNILNILNIL
*Whichever is higher, ** Currently waived off, *** will be returned against brokerage within 90 days of A/C opening

2. Technology Platforms

a. Trading Terminal (.exe application): Advanced Desktop Trading platform for for high-volume trades in equities, F&O, commodities, mutual funds and currency trade

Compatible with:

  • Desktop Windows
  • Desktop Mac

b. TT Web: Features of Trade Terminal on the web browser. Light weight trade terminal for equities, F&O, commodities, mutual funds and currency trade

Compatible with:

  • Desktop Windows
  • Desktop Mac
  • Mobile – Android (mobile app available)
  • Mobile – iOS (mobile app available)
  • Tablet – Android and iOS

c. IIFL Markets App: Mobile app for regular trading – equities, F&O, commodities, mutual funds and currency trade

Compatible with:

  • Mobile – Android (mobile app available)
  • Mobile – iOS (mobile app available)
  • Tablet – Android and iOS

d. IIFL MF: Desktop and mobile platform for mutual fund purchase – buy, sell and track mutual funds

Compatible with:

  • Desktop Windows
  • Desktop Mac
  • Mobile – Android (mobile app available)
  • Mobile – iOS (mobile app available)
  • Tablet – Android and iOS

3. Products

  • Equity Delivery and Intraday trading, Futures and Options
  • Currency Futures and Options
  • Commodity Futures and Options
  • Mutual Funds
  • Bonds and Sovereign Gold funds
  • Forex

4. Services

ServiceInvestor PlanPremium PlanSuper Trader Plan
Research ReportsYesYesYes
Intra-day CallsYesYesYes
Seminars – Market GuruNoYesYes
Trade TerminalNoYesYes
Dedicated RMNoYesYes
Investor MeetingsNoYesNo

5. Advisory

  • Research Report – Fundamentals, Company, Annual
  • Daily Market Reviews
  • Weekly and Monthly Reports
  • Intra-day calls
  • Stock Recommendations
  • Robo Advisory
  • IPO Reviews and Recommendations
  • Dedicated RM with offline advisory
  • Loan on Portfolios
  • Market Guru seminars
  • Analyst/ Investment advisor meetings

6. Support

  • Dedicated RM
  • Online Trade Support
  • 24×7 Toll Free Service
  • 24×7 customer care
  • Email Support
  • Chat Support

Investor Suitability

  • Investors who trade in huge volumes and need high end technology platform for customized trade
  • Investors who need real-time trade support
  • Investors who are looking for advisory services and offline stockbroker support for trades
  • Suitable for first time investors, who are looking for advisory support from the broker
  • Not suitable for investors who do not need any advisory services and are just looking for a cheap platform to buy/sell shares

For a detailed comparison with other discount providers, visit our Stockbroker Comparison page.

Pros and Cons

Pros:

  • Provides end to end advisory support with lot of research reports and stock recommendations
  • Full-fledged customer support across multiple channels
  • Ideal for high volume trades who are looking for customized trade terminal and real-time support
  • Availability of physical branches at multiple cities and towns

Cons:

  • Comparatively costlier than discount brokers
  • Recommendations might prove detrimental for new traders without a good understanding of the nitty-gritty’s and clauses of those recommendations
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