IIFL Securities is a full-service stockbroking house from IIFL Holdings Limited. It is one of the leading financial services providers that offer innumerable services ranging from offering loans, mortgages, and brokerage services.
The firm was incorporated in 1995 and is continuously growing since then. Currently, it has offices in more than 4000 locations spread across 900 cities in India.
Along with this, the company has its international presence as well along with offices in Hong Kong, Dubai, New York, Singapore, Geneva, London, and Mauritius.
Let’s dig a bit deeper and understand whether this full-service stockbroker is a suitable broker for you or not.
IIFL Securities or India Infoline Securities Pvt. Ltd. is renowned and one of the leading players offering the best services in both retail and institutional segments. The company moves forward with the major goal of innovating and reinventing new strategies.
Along with this it has set a digital footprint in the trading world and has come up with major and highly advanced trading platforms.
Becoming the customer of the company helps you in gaining the advisory and research services that help you in trading across different segments without flaws.
“IIFL has an active client base of 2,11,561 as of 2020 i.e. this financial year.”
As per recent research, IIFL has relatively a stronger presence in the northern part of the country especially in Delhi, Gurgaon, Noida, Punjab, Rajasthan, and thus, finding a branch across these regions is relatively easy.
IIFL Securities was founded by Nirmal Jain with the strong support of Canadian Investors Prem Watsa (private equity firm General Atlantic and CDC Group).
Nirmal Jain is one of the successful entrepreneurs who slowly took the firm towards growth. In the year 2000, IIFL entered into the market as a full-service brokerage firm and start widening its network.
Later he diversified his business by offering various other services like life insurance, mutual funds, equity trading, and lots more.
By 2018, the company grew strong with the 23% direct or indirect ownership of Nirmal Jain.
IIFL Full Form
The full form of IIFL is ‘India Infoline’. It has been called as India Infoline Limited, however, off-late the brand has been pushing itself as IIFL across the board.
They have, in fact, rebranded itself into this short form across different business verticals too.
IIFL, commonly known by the India Infoline Pvt Ltd that ranks among seven leading financial services providing firm.
Formerly known by the name India Infoline Investment Services Limited, the firm is renamed as India Infoline Finance Limited in November 2011.
Today, the company has acquired a dominating position in both retail and institutional sectors and becomes the first Indian broker to get the membership of the Colombo Stock Exchange and an approval to be a member of the Singapore Stock Exchange.
It launched 5Paisa.com full-service brokerage to offer the brokerage plan at the least sum of 0.05% in 2000 and in the year 2005 successfully listed in BSE and NSE.
IIFL Trading allows customers to buy and sell stocks by paying little brokerage charges as a commission to the broker.
With the advanced trading tools and platforms, you can now gain the experience of seamless trade.
To get access to trade, the trader has to open an account with the firm.
The account opens the gateway to trade in different trading products including equity, currency, commodity, etc.
No wonder, you would be able to reap the maximum benefits and better experience of an unbeatable and unique combination of technology and research.
Thus, you can invest in stocks with minimum risk and higher chances of gaining profit.
With lots of trading features like two-factor authentication, single login, advanced trading platform, low brokerage, you can gain the ultimate and great trading experience.
IIFL Virtual Trading
Virtual Trading is something proves to be highly beneficial for those who are new in the trade market. It is the method of imitating the trade within the financial market without bringing in use the real money.
This is highly helpful as it helps beginners in practicing the trade and avoiding the risk involved in the investment.
In all, the virtual trading platforms and games help you in gaining proficiency over tratrade and help you in generating profit right from the beginning.
As already discussed, IIFL Holding Ltd. comes up with many different products and services ranging from finance, wealth and asset management, investment banking, institutional equities to property advisory services.
IIFL Securities offers all its services through its various subsidiaries and its online portal.
Here is the complete list of products and services offered by the firm.
The full-service stockbroker has its corporate office based out of Mumbai with an employee strength of around 8,000.
The broker has even set up a discount broking arm in Thane, Mumbai with the brand name 5Paisa that is pretty competitive in its pricing and other offerings.
IIFL Equity one of the product range of the company helps you in placing orders at a pre-defined price or for pre-specified quantity in scrips at regular intervals.
Investing in equity represents the ownership in the company acquired through investment of capital that helps in running a business. The capital is raised through the issue of shares to the public.
These shares can either be bought directly from the company or through a trade done on the stock exchange.
Although investment in equity, here IIFL equity involves lots of risks it offers high returns to investors in the long run.
IIFL Mutual Fund
One of the product range of the company that gives the customer to invest in SIP plans as per their needs over some time.
IIFL Mutual Fund is one of the best-suited products that help investors in generating wealth. It offers different products and risks associated with it.
With IIFL Mutual Fund, the user can gain access to different mutual funds through 42 AMCs and the advanced technology-based trading platforms. Thus, the customers willing to invest in IIFL mutual fund can track and manage their investment through one account.
IIFL Securities Commodity
As already discussed, IIFL Securities is a leading brokerage firm that offers broking services in various segments including commodities.
IIFL commodity trading allows the trader to trade in the movable property like gold, silver, and other metals. Also, the trader can trade in agricultural commodities.
Trading in commodities brings diversification in the portfolio, offers high margin leverage, provides a high level of liquidity, etc.
IIFL Securities Currency
Similar to the commodity, currency trading comes with a higher probability of earning profit in the trade market.
In this, the trader deals with the exchange of currency and earn profit by availing the difference in the value of currency over time.
Grab the best trading experience with IIFL securities and invest smartly with the help of the research team.
IIFL Bonds / NCDs
Apart from the conventional investment products discussed above, IIFL is along into bonds and NCDs (more on that later).
As far as IIFL bonds are concerned, the firm claims to provide returns in the tune of 10.5% per annum. It has been rated well by Crisil and investors can avail the option of monthly interest as well.
The return percentage, however, may vary in the range of 9.84% to 10.5% depending on the holding period from 15 months to 69 months.
The last one was issued at a price of ₹1,000 per NCD with a minimum investment capital of ₹10,000.
Apart from these, there are some additional services, for customers.
When it comes to research, IIFL Securities has figured out a specific structure segregating different recommendation products based on client requirements.
Here are the details:
Monthly Mutual Fund Report
Monthly Investment Report
Monthly Mutual Fund Report
Evening Commodity Update
As far as the quality of IIFL research is concerned, the broker does a fairly good job in its fundamental research while providing research and reports for long-term investments.
IIFL Wealth is a separate entity from its broking business and is linked more towards wealth management of its clients coming from different genres of life. The firm claims to house around 1000 employees with a presence across 26 locations.
One differentiating factor that goes in favor of IIFL wealth is its segregation of clientele and the corresponding servicing of different segments.
The segregation is done based on:
First Generation Investor
Family Business Owner
With this unique way of client profiling, the firm seems to manage the client requirements and funds management accordingly.
IIFL asset management brings another important clear, robust, effective, and actively managed investment solution that helps the investor in safeguarding investment and in minimizing risks and volatility.
IIFL PMS portal was founded by Mr. Karan Bhagat in 1995 to offer both discretionary and non-discretionary services for the clients.
It delivers the investment philosophy based on the hybrid, data-driven, and high-conviction strategy. It makes use of hi-tech data-driven approaches that helps in generating risk management and in availing good returns over time.
Also, the management teamwork in collaboration with investors to understand the nuances of finance and to understand the risk factors. This helps them to guide their investors to take a wise and fruitful investment decision.
Another platform IIFL ONE launched by the firm to bring in front the transparent investment options under the “All-in-fee” structure.
IIFL ONE is especially meant for the HNI clients who can avail of the portfolio management process and discipline for their personal portfolio at a very competitive price.
The platform also gives them access to lending terms, wealth structuring, and estate planning services.
This full-service stockbroker has an array of trading platforms available across all kinds of devices. Here are the details of the top-notch and tech-based trading platforms of IIFL Securities:
IIFL Markets is a new age trading mobile app from India Infoline and is available for Android, iOS, and Windows users as well.
It is one of the top-rated mobile apps at the Android store with a 4.4 rating from more than 20,000 users. Some of the features of the mobile app include:
One swipe trading feature allows you to trade with a single swipe only making sure you don’t lose out on the apt opportunities.
“IIFL Markets is proven to be one of the top-performing mobile apps in India with multiple features and reasonable speed. Get a guest login by providing your details here and the username and password will be emailed back.”
Stock watch lists up to 50 scripts help you to handle the stock market portfolio in a much better way.
Users can apply for IPO/OFS using the IIFL Securities mobile app itself. Not many brokers provide that provision in their mobile apps.
A unique message board feature allows users to understand other’s take on the market situation.
Users can set up alerts from different aspects such as Price threshold, stock price percentage increase/decrease limit, etc.
The app helps guide customers in opening and run their IIFL Demat Account.
IIFL Mutual Fund app is another important software offered by IIFL Securities that was created for both android and iOS platforms. This app is helpful to invest in mutual funds online.
Using this app, you can buy, sell, SIP, and monitor your mutual fund investment easily and conveniently. Also, the app helps view the scheme, and in grabbing the latest news and other relevant information.
IIFL Securities offers two different types of accounts; Demat account and Trading account.
However you can have either of the two accounts with the firm, but it is good to reap the benefits of the IIFL 2-in-1 account.
This helps you to experience seamless trading and in hassle-free transactions for buying and selling stocks.
You can open the account via both online and offline methods. Once you open the account you will get the login credentials which gives you access for various available trading platforms.
With the IIFL account, the customer can avail many benefits like:
Single login id to access every platform and to trade in different segments.
Also, the account offers you the Next Generation Solution that helps you in availing the real-time streaming quotes and quick order execution.
IIFL Demat account is the gateway to trade. To open the Demat Account you have to undergo through the account opening process and submit all the documents for the demat account.
Also, there are certain fees and other charges associated with the IIFL Demat Account. However, the Demat Account opening charges in IIFL are Nil but it is mandatory to pay AMC charges on the yearly basis to keep your account active.
IIFL charges ₹400 as the AMC charges from the second year onwards.
Once you are done with the account opening process you will be provided with the Demat Account number that is required whenever you trade.
Demat Account is where all your shares, mutual fund, bonds are secured in an electronic form.
Thus, it gives you a convenient way to track your securities and investment online.
You can open the IIFL Demat Account individually or have a joint account.
IIFL Trading Account
IIFL trading account is the account that contains your cash and holdings. With the IIFL Trading account, it becomes easy for traders to buy and sell their stocks in the market easily.
To open the trading account, you need to enter certain personal information and submit relevant information for validation.
Apart from this, unlike the demat account, the trading account levied some account opening fees and the customer has to pay the one-time charges of ₹750.
So open the trading and demat account with the firm and reap the maximum trading benefits.
To open an account with IIFL, here are the charges you need to take care of:
Trading Account Opening Charges (One Time)
Demat Account Opening Charges (One Time)
Trading Account Annual Maintenance Charges (AMC)
Demat Account Annual Maintenance Charges (AMC)
Thus, as you can see the account opening and maintenance charges are relatively pricey as compared to other stock brokers in India.
Thus, in a sense, it may be put in the bracket of Premium Stock Brokers of India.
IIFL Brokerage Charges
This full-service stockbroker offers different plans to its clients depending on their preference. The details are as follows:
IIFL Variable Brokerage Plan (VBP)
This plan is based on the monthly transaction volume in a specific segment.
1. Delivery Cash Volume: Brokerage applicable both sides
This plan is applicable for users who are looking to trade for a long-term level, with as short a few days to as long as a few years. Here are the details:
IIFL Securities has the following communication channels for its clients to reach out to them:
IIFL Securities Toll-Free Number
Missed Call Service
Although IIFL has multiple communication channels, when it comes to service there seems to some sort of bifurcation done which is pretty hard to understand.
The broker seems to have a structure defined where medium to heavy trading clients are given much more emphasis from the customer service team.
Thus, the beginners or small investors might have a hard time (initially) in getting their voices heard.
But once you are into the system, then you will be able to understand the intricacies in place. Then it becomes much easier and quicker for you to use the services of the full-service stockbroker.
IIFL is certainly one of the most promising full-service stock brokers in India. It presents multiple values to its clients through its focus on technology with its mobile apps, wide offline presence, multiple brokerage plans, and so on.
But by the look of it, their major business focus is towards medium to heavy level traders that can earn them regular revenue in the form of recurring brokerage charges.
Thus, it becomes difficult for beginners or small investors to use this broker’s services.
Furthermore, with the advent of discount brokers, the competition for brokers such as IIFL becomes even more intense.
Here are some of the concerns about IIFL Securities that you must be aware of:
India Infoline is one of the highest complained about broker on BSE and NSE
Some of the prominent concerns raised have been around customer service
Investing in some of the segments such as Mutual funds is not as easy as some of the other full-service brokers
“IIFL has received 7 complaints in this financial year of 2019-20, which is 0.01% of their overall client base. The industry average is also 0.01%.”
Some of the advantages of opening an account with IIFL Securities are:
Huge presence across different parts of the country with over 4000 branches
The broker was established more than 20 years back in 1995, thus, stability and trust factor are certainly there.
Allows to invest in all sorts of segments
The mobile app IIFL Markets is one of the top-performing ones in India.
High tech trading platforms, especially on mobile
Flexible brokerage plans depending on user’s preference
Interested to open an account?
Enter Your details here and get a call back right away.
Post this call, you need to provide a few documents to start your account opening process. The documents required are as follows:
An address proof
Bank statement for the last 6 months, canceled cheque
AMC fees (if applicable)
Trading Account cheque
Once you are done with this, your account gets opened within 2-3 business days.
Although the account can be opened online, if you are old-school, then you can just download any of these forms, take a print out, fill them up and deposit at the closest IIFL Securities branch or office.
The corresponding action will be taken by the broker as per the form submitted.
Here are some of the frequently asked questions about this full-service stockbroker:
Is there any minimum account balance I need to maintain with IIFL Securities?
No, India Infoline does not keep any condition on its clients to maintain a minimum balance. However, to open an account with this full-service stockbroker, you need to start with at least INR 10,000 as the initial account deposit.
What are the account opening and maintenance charges?
The account opening charges at IIFL are pretty high at ₹750 for the Trading account and ₹555 for the Demat account.
If you look at the industry benchmarks, generally account opening is in the range of ₹200-₹700, while here it is around ₹1300 for both the accounts.
How is the research quality through its trading calls and reports?
This full-service stockbroker is known to be one of those stockbrokers that provide quite accurate tips and recommendations. Their research team is pretty prominent and visible across multiple media channels.
Furthermore, this full-service stockbroker is known to come up with multiple innovations in the research domain every now and then.
What are the brokerage charges levied by IIFL?
The broker offers multiple brokerage plans for its clients. Overall brokerage is high, especially for small investors or beginners.
However, if you can produce high stock market turnover every month or subscribe to any of their subscription plans by paying a specific amount at the upfront, then you can negotiate for lower brokerage charges across segments.
Is IIFL Safe? Is it Reliable?
Yes, IIFL has been around for a while now (22 years to be precise).
This, the broker is certainly stable in its operations. It has an employee base of >8000 and a sub-broker/franchise network of >4000 across India. Thus, the broker, with its numbers, looks promising and reliable.
What are the transaction charges?
The transaction charges at IIFL are pretty reasonable at 0.00325% of your trade value for Equity Intraday and delivery. For more details, you can check the ‘Transaction charges’ section above.
How is the customer service quality?
Although IIFL offers multiple communication channels, the quality of the service certainly has some sort of inclination towards medium to heavy traders.
In fact, such traders are provided with exclusive one to one relationship executives to help and guide such clients with their portfolio.
Beginners or small investors do get relationship managers too but those executives handle numerous clients with similar tips and recommendations.
In what segments I can trade using IIFL services?
With the services of IIFL, you can trade and invest in more than 10 products such as Equity, Mutual funds, Insurance, Commodity, Currency, Fixed Deposits, Bonds, and more.
Thus, in a sense, you don’t require any other financial house for your investment needs of different kinds.
Also, check out the comparison of IIFL Vs other stockbrokers here: