IIFL Trader terminal is the terminal-based trading application or software from the house of IIFL.
As a user, you’d be required to download and install IIFL Trading terminal onto your desktop or computer for trading. It is optimal for users who are looking for a high-performance trading application, especially for intraday trading.
Using this application can be relatively tough initially, especially for traders who are going ahead with their stock market investments for the first time. But if you are a seasoned trader, you will get the hang of it, pretty soon.
In this review, we will be talking about the software’s features, configuration requirements, positives and negatives of using the application.
IIFL Trader Terminal Set-Up
IIFL Trader Terminal requires you to have Windows (98, 2000, 2003, NT, XP, Vista, 7, 8 and 10) operating system.
Users also need Dot Net framework installed on their machines before accessing the software.
Pentium/Celeron Processor with RAM – 256Mb. Ideally 512Mb and above.
IIFL Trader Terminal Demo
IIFL Trader Terminal is one of the seasoned trading applications in India. It offers a wide range of features at data, analysis, market trends and related levels.
Let’s have a quick look at some of those features:
Live Market Data, Streaming Quotes.
In order to view the Market Depth, the application provides you with the best 5 bid/ask and open interest quotes. You can check Daily Price range (DPR) and Average Traded Price (ATP) before taking the call to go ahead with the trade or not.
Single-click order placement with short-cut key functionality. Similarly, shortcut keys can be applied to access other features as well.
Comes with 2-level authentication for additional security
Provision to add multiple market watch lists so that users can view information on pre-selected 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-wise, IIFL Trader terminal is one of the top-notch trading softwares.
Market Analyzer feature helps clients to have a quick glance at the current situation of the market with information of low losers, gainers, 52-week high/low and so on.
Within the application itself, you can use the options calculator to see the value of the put and call options, implied volatility and related key statistics.
For your technical or fundamental analysis – IIFL trader terminal is loaded with multiple 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).
Furthermore, there are 14 different technical price and volume indicators available for analysis.
Online funds transfer with banks such as ICICI, HDFC, Citi, UTI, Yes Bank, Axis etc available.
IIFL Trader Terminal Disadvantages
IIFL Trader Terminal comes with the following concerns and limitations.
Thus, be wary of these areas before you get all excited towards using this trading application:
The terminal software is not available for iOS users and is only limited to Windows users only.
If users want to trade in future and options (F&Os) segment, they are required to submit written an application and income proofs for terminal activation.
IIFL Trader Terminal Advantages
At the same time, you get the following benefits while using IIFL Trader Terminal:
Users can chat in real-time with the customer care of India Infoline to get assistance during market hours.
Since IIFL is a full-service stockbroker – users get fundamental reports and technical trading calls within the trading application. There is a daily report called ‘Market Mantra‘ and a weekly report called ‘Weekly Wrap‘ for deep analysis and then there are ‘IIFL Calls‘ for quick intra-day tips.
Provision to add AMO (After Market Order) i.e. users can place an order after market hours and such orders get processed the next business day of the stock market.
You are allowed to set up alerts and notifications based on your preferences where you need to add the scrip name, put up the price condition and corresponding message you are looking to put in. Once the condition is met in the live market, notification is sent to you.
Access to LIVE TV with inbuilt integration with ET Now.
For additional security, there is a LOCK feature that gets enabled automatically if there is continuous inactivity for 10 minutes on the terminal. This feature disables trading feature while other features stay available.
The application allows you to transfer funds to and from your trading account using multiple options.
Then there are few orders related features such as checking order status, single-click based multiple order cancellation, open positions getting squared off, exporting order reports and so on.
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More on IIFL
If you wish to learn more about this stockbroker, here are a few references for you: