IIFL Commodity

More on Commodity Trading

IIFL Commodity allows you to trade in a different movable property like gold, silver, metals, and agricultural commodities. 

IIFL Securities is one of the leading names in the Indian financial services market. On understanding IIFL meaning you would be able to know that it provides a wide range of services and provides services for the full-service stockbroking.

IIFL founder, Nirmal Jain founded the firm in 1995 and got it registered in the major stock exchanges (BSE and NSE) and commodity exchanges like MCX and NCDEX in India.

So, if you want to do a commodity trading, you can think about having an IIFL commodity trading account. Know how to open the MCX account to get started. 

In this article, we will discuss the detail of commodity trade with IIFL, how you can start trade with the firm, and the charges.

IIFL Commodity Trading 

IIFL, one of the leading players in the brokerage allowing trade in various segments like equity, currency, commodity, derivatives, IPOs, mutual funds. All these services are accompanied by the right guidance and support offered by the strong IIFL research team.

The IIFL trader terminal trading platform offers you the seamless provision to trade in commodities.

Using this desktop application you can access various features and parameters helpful to trade.

Commodity traders invest in different kinds of commodities. The commodities are categorized into different groups like –

  • Metal commodities like gold, silver, copper, etc
  • Energy commodities like crude oil, gasoline, natural gas, etc.
  • Agriculture based commodities like wheat, rice, beans, etc.

You can reap innumerable benefits of IIFL Commodity trade like:

  • Make Use of the Diversified Portfolio: It offers different means for the diversification of portfolio thus providing better exposure to the asset class.
  • Provide Leverage: You can reap the benefit of margin trading by initiating trade-in IIFL Commodities. Thus, you can invest in larger stocks by spending less amount.
  • Liquidity: The commodity futures allow trade in gold, silver, crude oil, and grains that offers a high level of liquidity.

IIFL Commodity trading can be done by opening an account with the broker.

To trade in commodities, traders can trade futures and options contracts in them. Let us now see how traders can do commodities trading.


IIFL Commodity Trading Account

Opening an IIFL Commodity Trading account is quite simple and can be completed in very little time online as well.

To open the account, you just need to go to the website of IIFL and fill in some basic details like your name, phone number, and email id, etc.

Then, you would be required to download an account opening form.

After filling all the required details in the form, you would be required to upload scanned copies of some of your documents like PAN card, Aadhar card, bank account statement, etc.

This is followed by the in-person verification (IPV) process. This process is usually done by the visit of the company executive at your registered address.

Nowadays, some brokers complete this process through video chat, etc. too.

Following this, you can fill the IIFL POA form to gives your broker little right to debit shares from demat account on your behalf.


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IIFL Commodity Login

Once the process of account opening is complete, you would be given a welcome kit in which a unique username and password would be shared with you.

Whenever you need to access your trading account, you need to use these login details.

You just need a tablet or a desktop/laptop, or a mobile phone with a stable internet connection to do start commodity trade with IIFL. 


IIFL Commodity Trading Software

IIFL Commodity can be done through their Trader Terminal which can be accessed through a desktop app or a browser-based web application. The IIFL commodity login information needs to be used in order to gain access to it.

There is a mobile phone application also through which you can access and manage your trading account.

You can manage your complete portfolio through it. The name of this app is IIFL Markets. It is a highly rated app on play store and has many good trader friendly features.

Some of the best features are described here –

  • Price Alerts – You can set price alerts settings in case you want to be notified when a certain price is reached
  • Free Tips on Trading – On the spot calls are generated for trading in stocks, commodities as well as currencies.
  • Advanced Charting – Technical analysts find this feature of advanced technical charts very helpful in making trading decisions. These are equipped with the major important technical indicators.

IIFL Commodity Brokerage Charges

IIFL commodity brokerage charges are different for different brokerage plans. The brokerages as per their flat brokerage plans are as follows –

  • Commodity Futures – 0.05%
  • Commodity Options – Higher of these two – 1% of the premium or Rs. 100 for every lot

IIFL Commodity brokerage as per their Variable Brokerage Plan

  • Commodity Futures – 0.02% – 0.05%
  • Commodity Options – Higher of these two – 1% – 2.5% of the premium or Rs. 100 for every lot

IIFL Commodity brokerage as per their Advance Brokerage Plan

  • Commodity Futures – 0.04% – 0.01%
  • Commodity Options – 1% of the premium to Rs. 20 flat for every lot

IIFL Commodity Margin

Margin is the amount of minimum capital requirement in the trading account to be able to do trading in future contracts. Because of the margins, traders do not have to pay the actual price of the commodities they are buying.

Margins in commodities vary from segment to segment. This means that margins in futures contracts are not the same as margins in stock trading.

Different brokers have different margin requirements. IIFL margin for futures contracts is up to 3 times.

IIFL Commodity Margin Calculator

Before entering any trade in commodities, a trader should know about the margin requirements for trading on the commodity exchange.

IIFL Commodity Margin Calculator is a trading tool that helps in calculating the amount of exposure the broker provides while trading across different segments.

IIFL commodity calculator would help traders to calculate margin requirements for positional as well as intraday trading in commodities.

Margins for intraday trading are generally a fixed percentage of margins required for positional trading. For every commodity, we would be able to find out the number of lots that we would be able to trade under normal type as well as MIS (or intraday trade).

IIFL Commodity Calls

IIFL platforms provide a lot of vital information that is required for making decisions regarding the trades that need to be done. They provide research-based commodity calls to their clients.

The research is done on the basis of technical charts (candlesticks charts, line chart etc), technical indicators, and many underlying factors that can affect the prices.

Once you select the commodity exchange, name of the commodity that you want to take a trade-in, and the date, you would be provided with all the important information about those particulars like open interest, high and low prices, volumes, performance charts, etc.


IIFL Commodity Customer Care

If you have any trade-related queries or questions regarding the operation of your trading account, you can contact the IIFL commodity customer care.

They have different contact numbers for queries regarding trading in different segments. Before reaching out to the IIFL commodity customer care, you need to make sure that you are choosing the correct information about how to contact them.

IIFL commodity customer care can be reached through different channels like the specified numbers on their website for commodities, email, offline branches, etc.

Their customer service is quite decent. And they make ample efforts to satisfy their clients by getting their queries resolved in a timely manner.


Conclusion 

IIFL commodity trading can be done by opening an account with them.

Before opening a trading account with them, it is important to check all the features of their trading platforms and mobile phone apps.

It is also imperative to check all the brokerages related to the commodity segment under their different kinds of brokerage plans.

IIFL Commodity Trading tools like brokerage calculator and margin calculator can be checked beforehand in order to know about the charges you would be required to pay to the broker.

The right use of the IIFL brokerage calculator also gives you better exposure to trade. 

They also have a good customer care service and all our queries can be resolved by getting in touch with them.

After completing your due diligence on all the aspects related to IIFL commodity trading, you can compare your own expectations with their services and reach a conclusion.

Stay aware, stay invested.


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