IIFL Review, Brokerage Charges, Demat A/C, Trading Apps and more

IIFL, also known as India Infoline Limited, incorporated in 1996, is one of the leading players in the Indian stockbroking industry. They are a full-service broker, offering diversified financial services to retail investors, corporates, foreign portfolio investors, insurance companies, mutual fund companies, HNIs, portfolio managers, alternative investment funds, etc. In this article we have done complete IIFL Review to help you with their brokerage charges, demat & trading account, trading platforms, apps and more.

As of March 1, 2023, they had served over 3 million clients spanning their branches and business partners in over 500 locations in India. Their local offices are also located in Colombo, New York, Mauritius, London, Singapore, Dubai and Hong Kong.

Let’s find out more details on IIFL Review-

Products and Services

Products

• Equity
• Mutual Funds
• Commodity
• Fixed-income instruments
• Derivatives
• Currency
• Initial Public Offering(IPO)
• SME Exchange

Services

•  Financial Planning                
•  Investment Banking
•  Wealth Management

Customer Ratings of IIFL Securities

Key Strengths of IIFL Securities

Before we move forward on the IIFL review, here are the reasons you should choose IIFL for your trading journey-

• They have 1L+ Crore Assets Under Management and 5,000,000+ daily active users.
• They provide personalised services for you and tailored research to match your specific investment requirements.
• A wide number of branches and partners across India and abroad.
• Various segments are available for investing and flexible brokerage structures.
• They have a team of experts who provide you with well-researched reports, stock recommendations and tips and guidance to make sound investment decisions.
• They also provide you with informative tools like OneUp for all your investments in one place, GemRush for real-time stock recommendations, etc.
• For simplicity of trading, the Demat account also features tools such as an options strategy builder, algo trading, and so on.
• One can also join the IIFL Sub-broker program where you need to bring clients for the firm. There are a few options to do it like franchisee, marketing associate, Employee to Entrepreneur and Direct Sales Agent (DSA).

Account Opening Process

You can open an account with IIFL- online as well as offline. Here is the procedure-

Here are the individuals who can open an account with IIFL:

• Resident Individuals
• Minors (Only Demat account. As sole holder)
• NRIs

Offline Process

•         If you give a miscall on 08066719101, you will receive a call from RM, who will assist you in setting up an account.
•           After that, you will receive a welcome message on your mobile and registered email id and a welcome kit at your registered address.

Online Process

• Visit the IIFL Securities website, and click on Open Demat account, following that, you will be required to fill out all of the necessary information.
• Then you’ll get a call from an IIFL executive.
• After you have verified the OTP, you will be requested to fill out a paperless account opening form.
• After you’ve completed it, click the submit button to upload your KYC documents, which should include a PAN card, address proof, age proof, etc.
• When you successfully submit all of the paperwork, you will receive a call from a company executive who will provide the login information in your email address.

Documents Required

• PAN Card
• Address Proof: Passport / Voter ID / Aadhar Card / Electricity bill / Ration Card
• Proof of Bank Account
• Passbook/ Gas bill/ Bank Account Statement
• Income Proof (only in the case of derivatives and currency trading)

IIFL Securities Trading Platforms/ Apps

Trader Terminal (TT Web):

It is a web platform where you can trade in equity, derivatives, IPO, commodities and currency. It is difficult for newbies to understand the terminal at first, but it is a simple pick-up for experienced investors. With Trader Terminal’s clean design and amazing visuals, you receive exclusive access to an outstanding investing experience. It also offers advanced features like expert research, advanced charts, analytical tools, single-click order placements, funds transfer across 40 banks and much more. 

IIFL Markets App:

It is one of the highest-rated mobile trading apps with highly advanced features and faster execution of trades. It includes a robust dashboard, a customised watchlist, a ChatBot feature, Price alerts and notifications, live news coverage, an in-depth research report, stock tips, create stock lists of up to 50 stocks, etc.

App Store rating: 4.4 / 5

Google Playstore rating: 4.5 / 5

TT Iris:

It is a strong decision-making tool designed to assist traders in analysing and placing orders. It has all the features which a professional or a day trader requires. They have a wide range of indicators available, multiple screeners, different reports, Derivative Analysis with Pay-Off Charts, backtesting of strategies, automated alerts, best-quality software, etc. It is offered for Rs 54,000 per year.

IIFL Mutual Fund App:

It is a mobile app for Ios and Android, which allows to buy and sell mutual funds without any commission. With a single tap, you can search, compare and track all your mutual fund investments. Some of the top features of this app are various research-based schemes, the latest updates, options to invest in equity, debt, hybrid and ELSS categories and a 24*7 online withdrawal facility.

IIFL TT Exe:

It is an EXE file which can be downloaded from the IIFL website and installed easily. It is useful for regular and high-frequency traders and can be helpful in the quick execution of trades. You can trade in various segments like equity, commodities, etc. in a single screen, and find a smooth user experience.

IIFL Review on Brokerage Charges and Plans

Account Opening Charges

• Demat Account Opening Charges- Rs. 0
• Trading Account Opening Charges- Rs. 0
• Demat Account Annual Maintenance (AMC)- Rs 250 (Free for 1st year)
• Trading Account Annual Maintenance Charges- Rs. 0

In addition to the brokerage fee, the following costs are also levied:

• Turnover/Transaction Charges
• Security Transaction Tax (STT)
• SEBI Fees
• Stamp Duty
• GST

Advantages and Disadvantages of IIFL

Advantages

• You get a high success rate when it comes to IIFL research calls. They have an award-winning research team.
• Their products & services list is endless. You can invest in various options in a single demat account.
• Their mobile app has 10+ million app downloads and is one of the highest-rated trading apps.
• They provide a robust trading platform with over 750 unique features.
• They provide Relationship Manager (RM) to assist and guide you in your trading journey.
• They provide up to 4X margin trading facility.
• The User interface of the IIFL Securities platform, as well as its mobile app, is simple to use and operate.
• 25+ years of service and customer loyalty and 110,000+ AUM.
• They also conduct webinars on a regular basis to educate and update you about the markets.

Disadvantages

• They charge you an additional Rs. 50 for call and trade facility.
• They do not offer a 3-in-1 account for trading.
• A high number of complaints are registered in NSE and BSE.

IIFL Margin Exposure

Here are the margins provided for different segments:

IIFL Review- Final Thoughts

India Infoline (IIFL) is a well-known name in the Indian stockbroking industry with over 25+ years of existence.  If you are new to stock markets, then IIFL Securities can be a good option for you because they assist and guide you throughout your journey. Their in-depth research reports can be helpful for you in making sound investment decisions. IIFL charges a hefty percentage-based brokerage fee for its advisory services and stock research facilities. However, traders who do not have much time to watch the market are okay with using such brokerage to grow their long-term portfolio.

User Experience: Trading and Investing with IIFL Securities

For an investor exploring reliable full-service brokers in India, learning about IIFL Securities (India Infoline Limited) often gives the impression of a brokerage platform built around research support and personalized advisory services. Unlike many discount brokers that focus mainly on trade execution, IIFL positions itself as a platform that combines trading tools with professional market guidance.

One of the most noticeable aspects of the IIFL experience is the strong research and advisory support offered to clients. Investors who do not actively track market movements can benefit from expert research reports, stock recommendations, and trading ideas provided by the company’s research team. For beginners or long-term investors, this type of guidance can make the investment journey less overwhelming.

Another positive experience many users highlight is the range of investment products available on the platform. Through a single demat account, investors can access equities, derivatives, commodities, currencies, IPOs, mutual funds, fixed-income instruments, and SME exchange investments. This allows users to build a diversified investment portfolio without needing multiple brokerage accounts.

The trading platforms and mobile applications offered by IIFL also contribute to the overall experience. Platforms such as Trader Terminal (web), IIFL Markets App, TT Iris, and TT EXE desktop software provide traders with tools for technical analysis, advanced charts, and quick order execution. The IIFL Markets App, in particular, is widely appreciated for its real-time market updates, customizable watchlists, and research integration.

Another feature that adds value is the availability of investment tools like OneUp and GemRush. These tools provide portfolio tracking and real-time stock recommendations, helping traders monitor their investments and identify new opportunities in the market.

For investors who prefer assistance while trading, the availability of a Relationship Manager (RM) can also improve the experience. The RM helps clients with account management, trading queries, and investment guidance, which can be particularly helpful for those new to stock market investing.

However, investors may also notice certain limitations when comparing IIFL with discount brokers. For example, some of the brokerage plans involve percentage-based charges, which may be higher for frequent traders. Additionally, the platform does not offer a 3-in-1 account with banking integration, which some investors prefer for seamless fund transfers.

Overall, after reviewing its features and services, IIFL Securities appears to be a research-driven full-service broker suitable for investors who value advisory support and comprehensive financial services. While the brokerage costs may be slightly higher than discount brokers, the company’s extensive research tools, advisory services, and diversified investment options make it a strong choice for investors seeking guided investment strategies.

FAQs About IIFL Securities