India Infoline (IIFL)

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IIFL Review


India Infoline or IIFL Broker founded in 1995, is one of the best full-service stockbroker in India in the financial services sector. IIFL broker provides trading and investment services to retail as well as institutional investors.

India Infoline is a full-service broker that gives advisory and research-based insights on market movements, along with its efficient trading platforms. It offers in-person customer support and in-house expert research to its 2 Lac+ customers in their 4000+ branches in 900+ cities across India.

Trading Platforms

With India Infoline trading account, you get two digital platforms to trade all kinds of financial products, including equity, commodity, mutual funds, currency, IPOs, loans, bonds, insurance and derivatives listed on NSE, BSE, MCX and NCDEX.

IIFL provides robust platforms as the Trader Terminal and Markets app that work perfectly for all kinds of high-frequency trades. You can download them on your phone, laptop or access the terminal through a web browser.

1

Trader Terminal (TTWeb)

India Infoline trade terminal is a trading software that you can download in your computer but this software is not available for Mac users and only accessible for Windows users only.

You can also access web version through an internet browser any device just by visiting ttweb.indiainfoline.com  so you can execute without installing software. IIFL Trader Terminal also allows you to access live market data, real-time fundamental and technical charts, set up alerts for price thresholds, apply technical indicators and read live news.

PROS:
  • User-friendly
  • High-Speed Platform
  • Market Analyzer feature
  • Single Click Order Placement
  • 2-level authentication

CONS:
  • Only for Window User, Not Available for Mac
  • Limited customizability (for charts, dashboard)

This terminal equips you with live customer care chat, provides in-depth fundamental and technical insights. IIFL also has in-house research advisory and they provide regular intraday tips. You can do complete personal research through this application.

2

IIFL Markets Mobile App

India Infoline Markets is one of the ? best mobile app for trading stocks with 1 million+ downloads and 4.3-star ratings on the Google Play store. You can organize watchlists and view all types of live market data in equity, commodity and currency segments.

With this trading app, you can place orders on all indices and seamlessly invest in IPOs and OFS. The minimal structure of data within the trading app allows us to manage the trade logs, net profit/loss and open positions in one single window.

PROS
  • User-Friendly & Well Designed
  • Good Interactive Chart
  • Price Alert & Scanner
  • Expert Views & Recommendation

CONS
  • Poor Search Function
  • Chart Graphics Need Improvement

3

IIFL MF App

IIFL MF application allows you to invest in the mutual fund.  You can buy/sell and track mutual fund investments directly from your through this platform. 

Brokerage charges

IIFL offers two brokerage plan one is variable & another is flat brokerage plan. IIFL charges flat brokerage ranging between 0.05 – 0.50% for executing any size and type of trade order. On top of that, it charges variable brokerage based on the trading volume. Overall more volume means less percentage of brokerage.

1

Variable Brokerage Plan

In the variable plan, the brokerage charges vary on the segment you’re trading in and the amount you’ve invested.

Delivery Brokerage

Monthly Trading Volume (in lacs)Delivery Brokerage Rate (in %)
Less than 10.6
1-50.55
5-100.45
10-200.35
20-600.25
60-2000.2
More than 2000.15

Intraday Brokerage

Monthly Volume (in lacs)Rate (in %)
Less than 200.05
20 - 1000.04
100-5000.03
More than 5000.02

Futures Brokerage

Monthly Trade Volume (in lacs)Rate (in %)
Less than 200.05
20 - 1000.04
100-5000.03
More than 5000.02

Option Brokerage

Monthly Premium Volume (in lacs)Intra Day (in %)
0-42.5
4-102
10-201.75
20-501.25
More than 501

2

Flat Brokerage Plan

It is the minimum brokerage commission charged by IIFL for executing any kind of order on both sides (buy and sell).

Brokerage ChargesRate (in %)
Intraday0.05
Delivery0.5
Futures0.05
Options1% or Rs.100/- per lot whichever is higher
Minimum per share BrokerageRs. 0.05

Margin

IIFL margin varies segment-wise depending on the scrip. The below table provides Margin or Exposure provided by IIFL for all segments.

SegmentMargin/Limit/Leverage
DeliveryUpto 3x with 18% interest per year
IntradayUpto 20x time Leverage
Equity Futures3x exposure
Equity OptionsUpto 3X (Shorting)
Currency FuturesUpto 2x
Currency OptionsUpto 2X
CommoditiesUpto 3X

Account Opening

You are required to open accounts to be able to invest or trade financial products. IIFL allows two types of account as:

  1. Demat & Trading account – for equity and currency trading &
  2. Commodity account – for commodity trading

The trading account is used by the brokerage firm to execute your buy and sell orders in the stock market. And Demat account works as a deposit where all the bought share/assets are stored.

PROS:
  • Fully Paperless Account Opening
  • Free Demat & Trading account opening
  • NRI Account Opening

CONS:
  • Slow Account Opening Process

IIFL broker offers Offline & Online account opening using aadhar. NRI can also open an account with IIFL.

Apply For IIFL Account Opening

Fill the contact form to open an account with IIFL.

You can also open Demat account with any other broker and use it to store shares bought through the trading account of the IIFL brokerage firm. The account opening process could be better as it’s taking too much time to get the account activated.

Type of ChargesAmount (in INR)
Trading Account opening Fee (One-Time)Rs.750
Demat Account opening Fee (One-Time)Rs.555
Trading Account Annual MaintenanceRs.0
Demat Account Annual MaintenanceRs.300

IIFL Research

IIFL has advanced technical analysis tools & market sentiment indicators available. You will get analyst recommendations & reports on a daily, weekly & monthly basis.

Recommendation

IIFL provides both technical & fundamental analysis-based trading ideas. The quality of the research available is fairly good however short term tips are not up to mark. You can also sign up for a daily stock market analysis newsletter in which you will get insightful market highlights.

You will get trading/investment ideas through IIFL Website & Mobile App. These are based on technical as well as the fundamental basis.

Customer Support

You can reach out to IIFL Customer support through multiple channels and they will give you fast and relevant responses.

They have incorporated multiple online and offline channels for ease of communication. You can contact IIFL via:

  • Phone/IVR: Customers can call for support through an interactive voice response system. Through an IVR voice message, you can simply record your concern without waiting for a representative and expect a callback.
  • Live Chat: Customers can raise concern right through an automated Bot over a trading terminal or markets app, website. The customer care representative is always available to chat and help you out. They provide fast and relevant answers.
  • Email: You can send your query via email. Once you send an email with your inquiry, you will get a reply to your mail after some time. We got relevant responses within 1 business day.

Bottom Line

The main advantage of  India Infoline (IIFL) is their inhouse research team and in-person customer support for their clients across the country. Being a full-service broker, IIFL charges relatively hefty fees and commissions for the same services a discount broker provides.

If someone is a beginner and lacks knowledge of the stock market, it is preferable to go with a discount broker. Paying high charges for stock tips and research advisory is probably not a good idea for an inexperienced beginner who is trying to learn the know-how of the stock market.

With no understanding of trading, relying on tips and expert advice is a waste of time and your hard-earned money. If you want a helping hand for all your trading and investment decisions and can pay high commission for it, then the full-service broker like IIFL might be the best choice in the long run.

Specification: India Infoline (IIFL)

Equity Delivery Brokerage

Equity Future Brokerage

0.05%

Currency Option Brokerage

1% of Premium or ₹100 per lot whichever is high

Currency Futures Brokerage

₹25 per lot

Commodity Futures Brokerage

0.05%

DP Transaction Charge

0.025% or Rs 25 (Whichever is higher)

Segment Supported

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Tips & Research

Yes

Services

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AMC Charge (Yearly)

₹ 300

Brokarage Type

Equity Intraday Brokerage

0.05%

Equity Option Brokerage

2.5%

Commodity Options Brokerage

2.5%

Offline Order Placing Charge

Nil

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