IIFL offers a number of value-added product that includes
- Research Advisory
- Market & Sector Reports & Information
- Options Trading Using Sensibull
- Loan Products (Home, Personal, Gold, Against Property & Business Loan)
- Mutual Fund Investment
- Wealth & Financial Management
- NRI Services
For value-added services, IIFL charges a percentage-based brokerage similar to ICICI Direct & Angel Broking.
IIFL demat account is suited for beginner-level investors who need advisory help & stock tips.
IIFL Demat & Trading Account Brokerage Charges
You can invest/ do trading in the following segments
- Equity Intraday
- Equity Derivatives (F&O)
- Commodity F&O
- Currency F&O
IIFL Brokerage details
|iValue Brokerage Plan||Details|
|Equity Intraday, Futures||0.025%|
|Equity Options||Flat Rs 25 per lot|
|Currency & Commodity Futures||0.025%|
|Currency Options||Rs. 8 per lot|
|Commodity Options||Rs. 65 to Rs 125 per lot (varies for different commodities)|
For fixed brokerage charges, you can read Zerodha’s review which charges zero brokerage on delivery trades and Rs 20 for intraday and FNO trades.
IIFL Account Charges
IIFL account charges details
|Account opening charges||Free (Limited time offer)|
|Demat Annual maintenance charges||First Year – Free|
From Second Year onwards – Rs. 250
|Trading account AMC charges||Rs. 0|
If you are looking for a free Demat account with zero AMC then you can check out the Upstox review. Upstox provides a free account opening with zero AMC fee.
IIFL Trading Margin
The margins/ leverage offered by IIFL
|Cash Intraday||Up to 5 times|
|Index and Stock|
|Index Option Sell||1 time|
|Index Option Buy||1 time|
|Stock Options Sell||1 time|
|Stock Options Buy||1 time|
IIFL Value Added Trading/ Investing Related Products
#1. Trader Multiple
Trader Multiple is an intraday trading product where you enjoy a higher amount of leverage but necessarily have to trade by placing a stop-loss limit.
|Certain approved NIFTY 50 Stocks||15 times exposure||SL range of 3%|
|Future – stocks/index||25 times exposure||SL range 2.5%|
|Currency Segment, for USDINR contracts||50% margin (i.e. 1.19%) whereas the exchange requirement is (2.38%)||SL range of 0.85%|
#2. Order Slicing
Order Slicing facility allows you to split bulk orders into a number of small multiple orders.
The bulk buy/sell order may drive the price up or down. However, order slicing is helpful to get a bulk transaction executed smoothly with less impact on prices.
#3. Systematic Investment Plan (SIP)
IIFL offers systematic investment plans for the following assets
- Mutual Funds
The SIP plan allows you to place a buy request to purchase a fixed number of equity shares, commodities (like gold, silver) and mutual fund units at a regular time interval.
IIFL buys the shares/ commodities/ mutual fund units at market price and credits into your account.
#4. Valid Till Date
Valid Till Date (VTD) is a buy/sell order placement facility where you can place a limit order that is valid for a period of time or until the order gets executed. This is similar to GTT orders offered by other stock brokers.
The VTD orders can remain in the system until the maximum validity date defined by IIFL. For example, if IIFL has defined 30 calendar days as the maximum validity days then your orders remain in the system till the 30th day from the trade date.
IIFL Trading Platforms Review
#1. IIFL Trader Terminal Review
Trader Terminal is the flagship trading platform of IIFL Securities Ltd. The trader terminal is a web-based and installable desktop-based platform.
The trader terminal is secured through two-factor authentication (2FA) security arrangement.
You need to provide PAN number or date of birth details for login to the trading platform. This is apart from your regular login ID and password.
Key features of the Trader Terminal are
- Single-click access to depository, ledger, MTM profit/loss statement
- Streaming quotes, instant order confirmation, multiple market watches, alerts
- Customizable view
- Advanced charting options & technical analysis tools
- Live research and news updates
- Live-chat with customer care
The .exe files need to be installed on your PC to create a local but powerful trading environment. The trader terminal software works on Windows 98, and higher versions.
But to use it on Windows 2000, NT and 98 you will have to additionally download .NET. Framework 2.0. In XP you will have to ensure that you have upgraded your Framework version from 1.1 to 2.0.
You need at least Pentium/Celeron Processor and 512 MB RAM to run the IIFL Trader Terminal platform.
The screen of the .exe based platform looks like this
You also have the option to run Trader Terminal directly on the web. The web-based platform works on Internet Explorer (IE) 6/ IE 7 and other browsers like Mozilla and Chrome.
Both the versions (Web & Platform) help you trade seamlessly, access research reports and advisory directly on your trading desk.
#2. IIFL Markets App Review
The IIFL Market App is compatible with Android and iOS smartphones. The app is rated 4.3 with access to the advanced dashboard and IIFL views & reports.
You get instant notification on your investments, price alerts, trading tips, stock news & can manage your account through the IIFL Markets app even when you are traveling.
The app provides a “Guest” login feature with a single OTP where you can explore the app and test.
IIFL Markets app is loaded with research reports of over 500 stocks from NIFTY, Sensex, Bank Nifty, Mid Cap and stock recommendations for beginners.
What I Like About IIFL Demat Account
- Research reports on 500+ stocks, sector summary
- Daily stock tips and recommendations
- Advance market news and event information like Buzzing Stock, Events Calendar
- You can do options trading using Sensibull
- SIP investment in equity, commodities and mutual fund
- Value-added services like IPO & mutual fund investment
- Useful products like Trader Multiple, Order Slicing and Valid Till Date
Areas of Improvement
- The long list of brokerage plans can be confusing to beginners
- IIFL can be transparent about the margins offered
- Delivery brokerage charges of 0.25% – 0.50% are high
IIFL Demat Account Opening Process
You need the following documents to open an IIFL demat + trading account
- Proof of identity (PAN with photograph mandatory)
- Proof of address (Passport/ Voters Identity Card/Driving License/ Aadhaar
- Proof of bank account
- Income proof (For derivatives/ currency segment)
IIFL allows online and offline account opening process.
For Offline Demat Account Opening
You can give a missed call on 08066719101 to get a callback from RM and he/she will assist you in opening the account.
#1. Visit IIFL for Online Demat Account Opening
Visit IIFL Securities website
Fill your name and mobile number to register your account with IIFL. You will get a one time password (OTP) on your mobile number to verify your mobile number.
Once the mobile number is verified you will get a link to open a demat account online.
#2. Create Login Details & PAN Verification
You need to start the application by providing once again your full name, email address and mobile number for login creation.
Post that, you need to enter PAN details and date of birth for verification.
#3. Provide Personal Details
Fill in your personal details like name, parents name, marital status, occupation and gross annual income.
Next, fill in your trading experience, qualification and residential status.
Provide your complete address details.
#4. Fill in the Bank Details
Provide your bank account number, IFSC code and the MICR number. Here you can use the “Get Code” facility that helps you get your bank’s IFSC and MICR number.
#5. Select Segment & Provide FATCA Details
Click on the segments in which you want to trade or invest.
Provide nationality, source of wealth and other information related to FATCA.
#6. Upload KYC and Supporting Documents
You need to upload the following documents necessary to open an IIFL demat cum trading account.
After uploading documents, you can start an “In-Person Verification” where you will have a small video call with the IIFL executive.
Your video/ photo will be captured during the IPV and uploaded by the IIFL executive which will complete your application.
You will receive the trading id and password and other details when your account will be created. Normally, the account opens within 24 hours of receiving the application.
IIFL demat account is a decent option if you do not have the time or expertise for market research.
IIFL charges you a high percentage based brokerage for the advisory services and the stock research facility it provides.
Working professionals and executives who do not mind paying extra brokerage can open IIFL securities account for creating a long-term portfolio of equities, commodity and mutual funds using SIP.