India Infoline Review
India Infoline or IIFL refers to full-service stockbroking house from IIFL Holdings Limited. India Infoline Group incorporate IIFL in the year 1995, to power up the traders and investors with technology-enabled stock broking in India.
India Infoline Group is a renowned name in the financial sector of India.
IIFL provides next-gen trading platforms and research-based guidance for its complete range of financial products including Stocks, Derivatives, Commodities, Insurance, FD’s, Loans, Bonds etc.
At present, IIFL Holdings Limited (Bloomberg Code: IIFL IN, NSE: IIFL, BSE: 532636) is India’s top-rated integrated financial services group with various operating businesses, primarily, Non-Banking and Housing Finance, Wealth and Asset Management, Financial Advisory and Broking, Mutual Funds and Financial Product Distribution, Investment Banking, Institutional Equities, Realty Broking and Advisory Services.
IIFL has:
- 5953 CR NETWORTH
- 8000+ NETWORTH
- 1900+ WORKFORCE
- 500+ BRANCHES
- 40 lac+ STOCKS UNDER RESEARCH
- 2 lac+ CLIENTBASE
IIFL is a brand that is not frightened to think big and add life to those dreams. Their focus approach in giving investment advice while safeguarding the supreme standards of ethics and compliance, transparency while transacting business and putting ahead of the competitive curve in technological innovations has helped theminfuse credibility and a reputation,they are proud of.
The broker offers diverse brokerage plans for its clients. In general, the brokerage is high, particularly for small investors or beginners. However, if you are able totrigger high stock market turnover every month or subscribe to any of their subscription plans by paying a particular amount at the upfront, then you can negotiate for lower brokerage charges across segments.
With the offerings of IIFL, you can trade and invest in over 10 products such as Equity, Mutual funds, Insurance, Commodity, Currency, Fixed Deposits, Bonds and more. Thus, in a nutshell, there is no need of any other financial company for your investment needs of various types.
IIFL allows its clients to trade across various segments including:
- Equity
- Currency
- Mutual Funds
- IPOs
- Commodities
- FD
- IIFL PMS
- Bonds
Recent Awards
- IIFL wins three awards at Drivers of Digital Awards, 2018
- India Infoline bagsMobby’s Award at World Marketing Congress for ‘Best Financial Website’
Membership Information
The membership details of India Infoline are given below.
How to open a Demat Account with IIFL or India Infoline?
When it comes to open a demat account with IIFL, a customer has to fill up an account opening form by consulting a depository participant (DP). Besides submitting the account opening form, he or she needs to attach photocopies of the requireddocuments (given below) for proof of identity and proof of address. After the account is opened, the customers will get the demat account number. Customers are required to pay the charges towards:
- Materialization and dematerialization of your securities
- Annual account maintenance
- Transactions fees (only for sell transactions)
Alike the bank account, one can open demat account in single / joint names / multiple accounts. If the account is open for the minor, guardian should be designated for the management of the account.
- First log on to their site and fill the registration form. Once you fill the form,you’ll be given 2 options. Either you can get the form by mail or one of one of their agents will visit you personally. Please note that personal visit is not available in all cities.
- After registration, you will be required to deposit a specific amount of initial margin deposit with them. The deposit can be of any amount, but it should not be less than 5000 Rs..
- Once your account gets activated, you will get a welcome kit, which encompasses details of your account, your username and password, and the user’s manual. The kit will also include a CD ROM which will allow you to install trading software.
- It will take nearly 15 days to do all the formalities if all the appropriate documents are sent and the forms are filled perfectly.
- The required documents are 2 latest passport size photos, proof of identity and address i.e. say electricity/ telephone bill, passport photocopies and PAN number.
IIFL Account Charges
- The DP may revise the charges by giving 30 days notice in advance.
- IIFL customer may choose to close the accounts at given point of time. No charge will be levied for closing of DP account.
- There is no minimum restriction on the number of shares that one should kept in the demat account.
- If demat account is closed in between of the year, annual maintenance charges shall be levied respectively for each quarter.
- No cost for transfer of holdings from one DP to another DP, if investor is not ok with the services of your existing DP.
Dematerialization/Demat your shares with IIFL
To demat your physical certificates, it is recommended to approach the DP and submit the following documents:
- Dematerialization Request Form (DRF)
- Physical certificates by marking “Surrendered for Dematerialization”
- A separate DRF needs to be filled for each ISIN.
India Infoline (IIFL) Account Opening Charges
Customer pays account opening fee for trading account opening with India Infoline (IIFL). The account opening fees are as below:
- India Infoline (IIFL) Account Opening Charges (Trading Acct): ₹750
- India Infoline (IIFL) AMC Charges (Trading Acct): ₹0
- India Infoline (IIFL) Account Opening Charges (Demat Acct): ₹555
- India Infoline (IIFL) AMC Charges (Demat Acct): ₹ 400 (One time)
Documents Required
India Infoline asks for following documents from its clients who are willing to open the trading and demat account:
- Clear photocopy of PAN Card
- Proof of Identity- Passport, PAN, Voter ID, Driving License etc.
- Proof of Address- Voter ID, Driving License, Passport, Ration Card, Attested Photocopy of Bank Passbook/Bank Statement
- Latest Bank Statement with IFSC/MICR Code
- Cancelled Cheque
- 2 Passport Size Photographs
Other documents such as as proof of income may be askedto allow trading in derivative categories.
India Infoline – Trading Platforms
The country’s leading full-service stock broker provides a range of trading platforms to its clients who can choose to trade across various devices.
- IIFL Trader Terminal
Trader terminal basically comes in the form of an executable file that needs to be installed on a laptop or a desktop to perform trading. A .net framework also needs to be installed before installing this trading application. At present, it is available only in windows version. The major features of this trading application are given below:
- Real-time market watch notifications
- Extremely secure with diverse authentication measures
- Rapid and confirmed order executions with awesome speed and performance
- Access to market calls, research reports and market mantras for users searching for technical and fundamental analysis.
- Different types of charts, technical indicators, heat maps for investigation
- Customization and personalization permitted at multiple levels with users allowed to modify the dashboard widgets, define alerts and notifications.
- Option to transfer funds across more than 40 prominent banks of India including ICICI, Axis, HDFC etc.
- IIFL Markets
IIFL Markets is a next-gen trading mobile app from India Infoline and comes for users available on Android, iOS, and Windows operating systems. It is one of the best-performing mobile apps at the Android store with a 4.4 rating from over 20K users. Some of the features of the mobile app include:
- One swipe trading feature enables users to trade with a single swipe only making sure they don’t miss out a single opportunity.
- Stock watch lists up to 50 scripts help you to handle stock market portfolio in a much better way.
- Investors can apply for IPO/OFS using the mobile app itself. Not many brokers provide that feature in their mobile apps.
- A one of its kind of message board feature permits users to comprehend other’s take on the market scenario.
- Users can define alerts from various aspects such as Price threshold, stock price percentage increase/decrease limit etc.
- IIFL Trader Terminal Web
IIFL Trader terminal desktop applicable also comes as a browser-based trading platform. There is no need for users need to download or install any software with this as they just need to visit a specific link, log in and soon after this they can start trading right from any desktop or laptop.
Given which specific segment you like to trade, there are various logins for:
- Equity
- Currency
- Commodity
Plus, there is a single sign-on application with:
- Data analysis tools and charts
- High-performance order execution
- Heatmaps
- Refreshed market tips and research reports
IIFL or India Infoline Customer Ratings & Review
The full-service stock brokerhas a number of communication channels when it comes to deliver customer service including:
- Toll-free Number
- Phone
- Offline Branches
- Social Media
- Missed call service
Though the full-service stock broker in Indiaboasts of a number of communication channels, there seems to some level of bifurcation at the backend which is quite difficult to comprehend. The broker seems to feature a structure under which medium to heavy trading clients get much more focusin terms of customer service and less frequent traders don’t get that level of concentration. Therefore, it can be said that the novices or small investors might encounter a difficult time (initially) in getting their queries resolved or questions answered.
India InfolinePricing
India Infoline has brought in a number of charges that its traders and investors are supposed to pay. Some of the big ones are account opening, maintenance charges, brokerage, transaction charges, stamp duty, taxes etc.
Account Opening Charges
- India Infoline (IIFL) Account Opening Charges (Trading Acct): ₹750
- India Infoline (IIFL) AMC Charges (Trading Acct): ₹0
- India Infoline (IIFL) Account Opening Charges (Demat Acct): ₹555
- India Infoline (IIFL) AMC Charges (Demat Acct): ₹ 400 (One time)
Brokerage Charges
Demat Account Charges
Transaction Charges
India Infoline Margins
The exposure or margin details of India Infoline are mentioned below.
IPO
IIFL allows its clients to apply for IPO application services.
India Infoline Limited offers IPO application services as a major offering. IIFL customers can employ the exclusive trading platform of the stock broker as well as its website to apply for an IPO. It is one of the easiest and the quickest way to apply for an IPO. You can apply for both IPO and FPO (follow-on public offer) with IIFL.
Steps to invest in IPOs using IIFL Demat Account
- Login to net banking account
- Jump to Investment options, choose IPO
- Once here, Select the IPO you wish to invest in
- Furnish the required details such as PAN No. Demat Account Number, number of shares and bid price
- Submit application
- Remember that application is subjected to the availability of available balance in your account.
The Conclusion
In the stock broking landscape, IIFL is a remarkable name and there is no doubt on the same. It offers several advantages to investors in terms of trading platforms, investment advice, timely updates and most importantly great value against the invested amount.
However, it has been seen that its big focus remains on medium to heavy level traders that can earn them daily revenue in the form of recurrent brokerage charges. This makes it difficult for beginners or small investors to get the best of their investment with IIFL.
In addition, with the emergence of discount brokers, the competition for brokers such as IIFL becomes even more powerful.