IIFL Trader Terminal
In stock broking landscape, IIFL is a well-known player. 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.
IIFL offers cutting-edge trading platforms and research-based support for its entire range of financial products including Stocks, Derivatives, Commodities, Insurance, FD’s, Loans, Bonds etc.
- 5953 CR NETWORTH
- 8000+ NETWORTH
- 1900+ WORKFORCE
- 500+ BRANCHES
- 40 lac+ STOCKS UNDER RESEARCH
- 2 lac+ CLIENTBASE
On technology front, IIFL is heavily reliant on its terminal-based trading application – IIFL Trader Terminal.
Since it is a terminal-based trading application, users need to download and install it on their computer systems to start trading. The application is found to work fabulously for high-frequency traders who prefer intraday trading.
IIFL Trader Terminal enables traders and investors to trade across Cash/Equity, Derivatives, Mutual funds, IPO, Currency, Commodities listed on exchanges including NSE, BSE, MCX and NCDEX.
According to IIFL Trader Terminal reviews available on internet, it has been discovered that users may find it a bit hard to get their hands on this application, but over a period of time, they get set on it.
IIFL won the ‘Best Broker with Global Presence’ award at the BSE IPF – D&B Equity Broking Awards 2012. IIFL has presence through its subsidiaries in Colombo, Dubai, New York, Mauritius, London, Singapore and Hong Kong.
IIFL Trader Terminal works perfectly on Windows (98, 2000, 2003, NT, XP, Vista, 7, 8 and 10) operating system.
Users also require Dot Net framework installed on their machines before downloading the software.
Pentium/Celeron Processor with RAM – 256Mb. Preferably 512Mb and above.
IIFL Trader Terminal Features:
IIFL Trader Terminal is one of the most popular trading applications in India. It offers an extensive range of features at data, analysis, market trends and related levels. Here is a detailed look at them.
- Live Market Data, Streaming Quotes.
- If you want to check the Market Depth, the application enables you with the best 5 bid/ask and open interest quotes. You can even watch Daily Price range (DPR) and Average Traded Price (ATP) before trading.
- Single-click order placement with short-cut key feature. Likewise, shortcut keys can also be used to access other features as well.
- Best-in-class 2-stage authentication for extra safety
- Option to add multiple market watch lists so that users can check information on pre-chosen scrips. Within each scrip, clients can view data such as LTP (Last Traded Price, Best bid rate, total volume, best offer rate etc.)
- High-speed order execution – performance-based
- Market Analyzer feature allows users to take a quick look at the present situation of the market with details on low losers, gainers, 52-week high/low and so on.
- Within the application itself, you can explore the options calculator to check the value of the put and call options, indirect volatility and associated key figures.
- For technical or fundamental analysis – IIFL trader terminal comes with different types of chart types such as Candlestick, Line, OHLC. Users can view historical charts with duration variations of 1 month, 3 months, 6 months, 1 year, 2 years, 5 years and so on).
- In addition, there are 14 different technical price and volume pointers available for examination.
- Online funds transfer with leading banks such as ICICI, HDFC, Citi, UTI, Yes Bank, Axis etc. available.
Advantages of IIFL Trader Terminal
- Option to chat on real-time basis with the customer care of India Infoline to get support during market hours.
- As IIFL is a full-service stockbroker, users get essential reports and technical trading calls within the trading application. There is a regular report known ‘Market Mantra‘ and a weekly report called ‘Weekly Wrap‘ for detailed analysis and ‘IIFL Calls‘ for quick intra-day tips.
- Option to add AMO (After Market Order) i.e. users can place an order after market hours and get them processed the next business day of the stock market.
- Users are permitted to define alerts and notifications based on their favorites by just adding the scrip name, set the price condition and conforming message they want to put in. Once the condition is met in the live market, notification is sent to them.
- Access to LIVE TV with inbuilt integration with ET Now.
- For high-level security, there is a LOCK feature that gets activated on its own in case of continuous idleness for 10 minutes on the terminal. This feature disables trading feature while other features stay available.
- The application enables users to transfer funds to and from their trading account using multiple options.
- There are some order-based features like checking order status, single-click based multiple order cancellation, open positions getting squared off, exporting order reports and so on.
Disadvantages of IIFL Trader Terminal
Although the application is quite easy and effective, users have noticed some concerns like:
- The terminal software is not available for iOS users and is only restricted for use only to Windows users.
- If you wish to trade in future and options (F&Os) segment, you’re supposed to make a written request along with income proofs for terminal activation.