Being an Intraday trader in the IIFL or India Infoline, it is vital to understand and learn how to do Intraday trading in IIFL.
IIFL or India Infoline is a full-service stockbroker incorporated in 1995, and since then, they have been creating a stellar reputation among the traders and investors in the stock market.
Impressively, IIFL offers impeccable services to its customers in terms of customer experience and stunning trading platforms. The below platforms empower its users with a quick and easy trading process with comprehensive tools
In these trading platforms, users can earn their passive income through various trading and investment segments.
Intraday Trading in IIFL
Intraday Trading in IIFL is tremendously simple and quick. However, before putting your initial steps in the Intraday Trading segment, it is mandatory to have an account with the IIFL.
Since IIFL is linked with both the depositories of India- CDSL (Central Depository Services Limited) and NSDL (National Securities Depository Limited), therefore a Demat account with any one of them is easily possible.
In the Demat account section of the IIFL website, click on the “open Demat account” button.
In the new screen, enter your basic details such as name and mobile number and click on the below button.
Now, an IIFL representative will get in touch with you to open the Demat account.
You will be required to share your correct details, and your Trading and Demat account will be opened instantly.
Intraday Trading Process
Once you have completed your account opening process, you must have received your login details along with a password. Simply enter these unique details on the IIFL trading platforms.
The trading platforms can be mobile app or online platform.
However, IIFL Trader Terminal is one of the best options for Intraday Trading as it has outstanding features required by the Intraday trader such as IIFL Charts that gives the confidence to trade in your favorite stock.
Follow the steps below to perform Intraday Trading on the IIFL web
In the watchlist option, click on the add/create button. Select the preferred scripts that you are interested in and click on add.
Now you can easily track these scripts daily and can trade smoothly as per your requirement.
As your watchlist is prepared now, you can buy or sell scripts instantly whenever you click on the specific script.
After choosing the scrip that you want to trade-in, finally, select the “Intraday or Day trade” option to complete your transaction process.
To prevent yourself from loss, here you can opt for the stop loss order in IIFL. This helps you in minizing the losses and risks associated with day trading.
IIFL Intraday Charges
Intraday trading in IIFL can be done in different segments including equity, commodity, and currency. Apart from this, you can easily execute day trade in futures and options.
But whatever segment you pick for trade, it is essential to have a knowledge of the intraday trading charges in IIFL that includes the brokerage, transaction, stt, and stamp duty charges.
Intraday trading includes buying and selling of stocks within a single trading session and therefore you has to pay fees for both buying and selling of stocks in a day.
IIFL earlier charges brokerage in percentage in which the overall trading charges were counted on the volume of trade. But with the introduction of IIFL z20 plan, now you can avail the benefit of flat brokerage fees.
Under this you have to pay ₹20 or 0.05% of trade whichever is lower.
IIFL Intraday Brokerage Charges
₹20 or 0.05% per trade (whichever is lower)
IIFL Intraday Transaction Charges
Other than the brokerage charges, there are transaction charges imposed by the broker. These charges are charged by the broker and is generally fixed.
In all, while paying the intraday charges in IIFL, it is essential to consider this fee to calculate the total brokerage fees need to be paid.
Other than this, there are STT, and other taxes levied upon you to execute the intraday trade.
Having confusion and difficulty in calculating the exact charges you have to pay to the IIFL for executing intraday trade?
If yes, then make it simple and easy with the brokerage calculator. Here all you need to do is add the scrip details and quantity. The complete charges detail will be displayed on the screen including the taxes, stamp charges and STT.
IIFL Intraday Margin
While doing Intraday Trading with IIFL, it is also vital to know the Margin available in the Intraday segment. IIFL offers extremely flexible margins to its customers, irrespective of the segment they are dealing with.
Generally, the IIFL margin provides 20x of the Margin equivalent to the money available in your trading account. Sounds great! Right?
Here is a quick glimpse of the margin limit offered by IIFL in the Intraday segment:
IIFL Intraday Trading Margin
Equity Intraday segment
Up to 20x times
IIFL Equity MIS is an Intraday product for Intraday traders who want to square off their trading position before the market closes.
Apart from this, a trader or an investor must also be familiar with the applicable charges while opting for margin trading with IIFL.
However, the stockbroker’s charges are not levied on MIS products if the Intraday trading position remains open until the market is open.
IIFL Intraday Trading Benefits
Since 2001, Intraday trading or Day trading is prevalent in India. It allows traders to buy and sell the stocks on a specific day, and India Infoline empowers its customers with various options and features in Intraday trading that encourage them to choose this stockbroker.
Some of the significant benefits of IIFL Intraday trading are as below
IIFL’s trader terminal is well recognized in the Indian stock market due to its impeccable features, extensive trading tools, and comprehensive analysis strategies.
It offers multiple features in different segments of trading options. Hence, a trader can efficiently trade in a higher account than he has in his trading account.
IIFL Intraday trading tips and ideas are trendy in the market as they are suggested by the market experts and analysts.
IIFL offers a lower brokerage charge in Intraday trading as compared to other stockbrokers who offer similar responsive trading platforms and extensive tools.
IIFL has distinctive instruments to track the movement of the particular stock within seconds.
IIFL offers a plethora of trading and investment segments such as equity, IPO, mutual funds, etc.
On IIFL’s trading platforms, you can choose a scheme from various SIP schemes and can trade effectively as per your requirements.
Also, read IIFL Futures Brokerage to know more about the derivatives type and its charges. Have hands on it and enjoy trading.
In a nutshell, we can precisely conclude that Intraday Trading with IIFL is quite a bit easy, simple, and flexible. There are a plethora of benefits offered by them to the traders and investors choosing Intraday Trading on their trading platforms- Trader Terminal or IIFL Markets App.
With its extensive analytics tools and researchers, IIFL is regarded as one of the Intraday Trading players. Once you open an IIFL Free Demat account, either through NSDL or CDSL, you can smoothly start your Intraday trading.
If you opt for Margin trading, which is provided 20x (of the actual money in your trading account) in the Equity segment, you will also be required to pay a certain amount to the stockbroker inclusive of STT and GST.
Through IIFL trading platforms, you can learn new ideas and effectively create robust strategies to help you meet your Intraday trading requirement.
Willing to open a Demat Account? Please refer to the below form