IIFL is among India’s top full-service stock brokers; this stock trading firm is part of IIFL Group and was established in 1995. The platform is highly renowned for its financial services and top-notch tools to help investors conveniently invest in the stock market. This brand has pioneered the art of providing enhanced and personalized services and using advanced technologies to make products more accessible and user-friendly.
This stock broker provides top-class research advisory and online trading services in various investment options. If you are finding a full-service stock broker to invest your hard-earned money in stocks, derivatives, insurance, FDs, IPOs, and other securities, knowing more about this full-service stock broker can be useful. Here we have discussed its brokerage charges, Demat account creation process, and stock trading platforms.
IIFL Securities Brokerage Charges
IIFL charges flat brokerage charges on its stock trading and other financial services. Below we have briefly introduced the charges you may have to pay when using its stock trading platform and services.
- IIFL Securities do not charge any fee on trading and Demat account opening.
- The trader does not need to pay any trading account maintenance charges.
- The Demat account maintenance fee is also free for the first year.
- IIFL charges Rs 250 per year for Demat account maintenance from the second year onwards.
- This full-service stock broker charges Rs 20 per trade on equity delivery, intraday, futures, and options.
- The charges for currency options and futures are Rs 20 per trade.
- It charges Rs 20 per trade for commodities futures and options.
IIFL Securities Stock Trading Platforms
IIFL Securities has provided its customers with several stock trading platforms and tools to help them execute small to high-volume trades in an efficient way. Below there is a brief introduction to its stock trading platforms.
IIFL Markets Mobile App
This advanced stock trading app is available for Android and iOS mobile users. IIFL Markets app allows you to trade in BSE and even MCX. It gives you the option to create a list of up to 50 different stocks and also features a swing trading option. This app allows users to set alerts and customize them based on their preferences and interests. You can also see research reports, invest in IPOs, and get trading tips from the app resources.
Trading Terminal Website
Whether you are a regular or frequent trader and investor in the Indian stock market, its trading terminal website can be very useful. It functions properly on both mobile and desktop computers. It contains all the essential features investors need to participate in trading activities.
Trading Terminal Extension
This trading terminal provided by IIFL can be installed on a desktop PC as software. This tool is specially designed for high-volume traders to help them make accurate predictions to make a profit from trading activities. This installable trading terminal in a computer comes with advanced tools and features. It also consists of superior charting and analytical features to help investors find relevant stocks for future trades.
IIFL Mutual Fund App
If you are mainly willing to invest in mutual fund schemes conveniently, using IIFL Securities’ mutual fund app will be good. The app contains crucial features like buy, sell, and monitor features. This freely available Android and iOS app also helps its users with expert guides and news.
How to Open Demat Account with IIFL Securities?
If you want to Open a Demat account with IIFL Securities, you must follow the steps below.
- First, visit the IIFL Securities official website and click on create account option.
- Enter your mobile number and email ID and verify both with OTP.
- After verifying this, you will have to add personal details.
- Once you submit the details, the relationship manager of IIFL Securities will contact you.
- You will have to provide digital copies of your PAN, Aadhaar card, latest photo, and bank statement if required.
- The relationship manager will verify the documents from their side and open your account.
- If you provide accurate details, your account will get opened within 24 hours.
Advantages of IIFL Securities
Below are some of the advantages of IIFL Securities that will help you understand why this stock trading platform might be suitable.
- It’s a full-service stock broker and has a presence in most major cities of India.
- It charges a flat fee of Rs 20 per delivery trade, intraday, and F&O.
- As a customer, you get free access to its equity and mutual fund research material.
- Its trading terminal is very advanced and considered by many experienced stock traders.
- You can trade equity, commodities, and currency using a single platform.
- It also offers equity SIP facilities to registered users.
- You can even find advanced orders like VTD orders on its trading platform.
- You get a relationship manager to help you with trading advisory and assistance.
- This full-service stock broker in India has a range of financial products to put your money to generate returns.
- This is a publicly traded company and is listed in BSE as well as NSE.
Disadvantages of IIFL Securities
Along with several advantages, there are some disadvantages of the IIFL Securities trading platform. Here are some of the major demerits of using IIFL Securities for trading and investing purposes.
- The IIFL Securities do not provide a 3-in-1 account facility.
- You don’t get the free equity delivery facility with discount brokers like Zerodha.
- IIFL Securities do not offer a direct mutual fund investment facility.
- It charges Rs 50 per call on call and trade facility.
- The offline Demat account opening process is time-consuming.
IIFL Securities is one of India’s well-known and established full-service stock brokers. The stock brokerage firm is listed on the Bombay Stock Exchange and National Stock Exchange. It has a robust trading platform that stands out from other stock brokers in India. Thus, if you are a trader willing to select a stock broker based on the easy availability of physical offices, IIFL can be the first choice. However, if you are a complete beginner and can not bear high brokerage charges, looking for discount brokers like Upstox and Zerodha will be suitable.