IIFL Securities Stock Trading Reviews

IIFL Securities Stock Trading, Demat, Brokerage and Reviews 2020

IIFL Securities Account Opening Enquiry/Get a call Back

Account Opening Fees & Annual maintenance charges (AMC)

IIFL charge ₹750 for trading and demat account opening. This one-time charge is waived for customers who buy certain prepaid brokerage plans. Also, customers pay ₹400 for demat account AMC. The Demat AMC is free for 1st year.

  • Trading Account Opening Charges: ₹750
  • Demat Account Opening Charges: ₹0 (Free)
  • Demat Account Annual Maintenance Charges (AMC): ₹400

IIFL Securities Brokerage Charges

IIFL offers 3 different brokerage plans; the Flat Brokerage Plan, the Variable Brokerage Plan and the Value-added Subscription Plan (Advance Brokerage Plan). You can choose one of the plans at the time of account opening or switch between them at any time based on your trading needs.

  1. IIFL Flat Brokerage Plan

    The IIFL Flat Brokerage Plan (FBP) charges a fixed % brokerage on the total traded value. This plan is for casual stock market investors. The brokerage charges in this plan are highest.

    Segment Brokerage (%)
    Intraday (buying/selling) 0.05%
    Delivery 0.50%
    Futures (buying/selling) 0.05%
    Options (buying/selling) 1% of premium or ₹100 per lot, whichever is higher
    T2T or Z group script 0.75%
    Minimum share per brokerage ₹0.05 (₹25 minimum)
  2. IIFL Variable Brokerage Plan

    The IIFL Variable Brokerage Plan (VBP) charges a variable % brokerage fee depending on the volume of trades made in a month. The amount of trading volume that you achieved during the last 20 trading days (including the current day) determines the brokerage slab for the current trading day. This plan offers a significantly lower brokerage rate to frequent traders.

    Segment Brokerage (%)
    Intraday (buying/selling) 0.02% to 0.05%
    Delivery 0.15% to 0.60%
    Futures (buying/selling) 0.02% to 0.05%
    Options (buying/selling) 1% to 2.5% of premium or ₹100 per lot, whichever is higher
  3. IIFL Advance Brokerage Plan

    IIFL prepaid brokerage plan has 7 different subscription plans. It is designed for frequent traders. By paying a specified amount, one can avail of more economical brokerage for certain duration. For example, under the ₹5000 plan, the brokerage for delivery trades reduces to 0.35% (from 0.50%) for 1 year.

    Plans > Default V1000 V2000 V5000VAS V10KVAS V25KVAS V50KVAS V1LVAS
    Subscription Fee ₹0 ₹1000 ₹2000 ₹5000 ₹10000 ₹25000 ₹50000 ₹100000
    Delivery 0.50% 0.25% 0.15% 0.35% 0.25% 0.15% 0.10% 0.05%
    Intraday 0.05% 0.03% 0.02% 0.04% 0.03% 0.02% 0.01% 0.01%
    Futures 0.05% 0.03% 0.02% 0.04% 0.03% 0.02% 0.01% 0.01%
    Options 1% of premium or ₹100 per lot whichever is higher 1% of premium or ₹70 per lot whichever is higher 0.50% of premium or ₹60 per lot whichever is higher 1% of premium or ₹90 per lot whichever is higher 1% of premium or ₹70 per lot whichever is higher 0.50% of premium or ₹60 per lot whichever is higher Flat ₹40 per lot Flat ₹20 per lot
    Minimum Brokerage (Per Share) ₹0.05 ₹0.05 ₹0.03 ₹0.05 ₹0.05 ₹0.03 ₹0.01 ₹0.01
    Plan Validity 1 year 1 month 1 month 1 year 1 year 1 year 1 year 1 year
Special Offer: Open a FREE Demat & Trading Account (Save upto ₹1150). Get the exclusive offer

How to open account with IIFL Securities Limited?

IIFL Securities offers both online and offline account opening facility. The best way to open an account with IIFL is by requesting a callback from the IIFL representative who will help you with the account opening process.

IIFL Securities Trading Software

IIFL offers several trading platforms. Most of them are available for free to all the customers.

  1. IIFL Markets App (Android and iOS)

    IIFL Markets is a mobile app for trading at BSE, NSE and MCX. With lakhs of downloads, it is among the highest-rated trading app in India. The majority of IIFL customers use this app to monitor the markets and trade.

    The app provides you with the facility to trade, analyze and stay updated with the latest information on stock markets in real-time on your Android and Apple mobile phones. Key features of IIFL Markets Mobile App include free research reports, online IPO, trading tips and alerts and integrated back-office reports.

  2. Trader Terminal (TTWeb Website)

    The trading terminal on the web is a sophisticated trading website designed for trading on any computer or phone with a web browser. The India Infoline TTWeb has every trading feature needed for a casual investor to the frequent trader.

  3. Trader Terminal (TT.Exe Desktop PC)

    IIFL Trader Terminal is installable trading software for PC. It is designed for high volume traders. TT Terminal is an all-inclusive online trading tool, with superior charting and analytical capabilities. It has the fastest order execution speed. It offers the facility to trade in cash, derivatives, mutual funds, IPOs, currencies and commodities, all in one screen.

  4. TT Iris

    TT Iris is a stock market decision-making software designed for frequent traders. It helps analyze the market real-time and make decisions based on the most recent data. TT Iris's unique features include customized charting, strategy testing, portfolio optimization, candlestick scanners, and price watch.

    TT Iris is a 3rd party trading software build by Spider Software India. It is available for a yearly fee of ₹54,000.

  5. IIFL Mutual Funds App (Android and iOS)

    IIFL Mutual Fund app is a smart phone app to invest online in Mutual Funds. This app allows Buy, Sell, SIP and Monitor Mutual Funds. This free app allows you to view mutual fund scheme performance, latest industry news & expert advice from Fund Managers. The app also offers an online paperless account opening.

IIFL Securities Pros and Cons

IIFL Securities Pros (Advantages)

The following are the advantages of IIFL Securities. You must read IIFL Securities advantages and disadvantages before opening an account with IIFL Securities. IIFL Securities pros and cons help you find if it suits your investment needs.

IIFL is a full-service broker. Along with buying and selling, it also provides high-quality research to investors. The personalized services offered though a dedicated relationship manager help traders and beginners.

The IIFL Securities advantages include:

  1. Full-service broker with an extended network of branches across India and abroad.
  2. Free Equity and MF research and recommendation services to all customers.
  3. The advanced trading platform 'Trader Terminal' is one of the best.
  4. Offer a wide range of financial products including stocks, derivatives, bonds, IPO, MF, Corporate FDs and Insurance.
  5. RM (Relationship Manager) services for trading assistance.
  6. IIFL takes personal FDs as collateral for margin funding.
  7. IIFL offers Equity Systematic Investment Plan (Equity SIP)
  8. Its offers equity, commodity and currency trading on the same platform.
  9. Offer advanced order type like 'Valid till cancelled (VTC)'.

IIFL Securities Cons (Disadvantages)

The following are the cons of IIFL Securities. Check the list of IIFL Securities drawbacks.

IIFL brokerage charges are very high in comparison to the online discount stock brokers for most of the stock market investors. It also has high minimum brokerage and call & trade changes.

  1. Brokerage charges are 60% to 90% higher in comparison to discount stock brokers. Check Discount Broker vs Full-Service Broker in India.
  2. It doesn't offer a 3-in-1 account as IIFL doesn't have a banking license.
  3. It doesn't offer Direct Mutual Funds.
  4. The ₹25 per scrip minimum brokerage change is very high.
  5. Call & trade changes are ₹50 per call.
  6. Advisory on SMS is available at ₹50 per month.

IIFL Securities Margin / Exposure

IIFL Securities leverage for intraday, delivery, options, currency and commodities.

Segment Margin
Equity Delivery Upto 3x (18% Annual Interest)
Equity Intraday Upto 20x
Equity Future Upto 3x
Equity Options 3x for shorting
Currency Future Upto 2x
Currency Options 2x for shorting
Commodity Future Upto 3x
Commodity Options

IIFL Securities Ratings

Overall Rating Rated 2.7 stars 2.7/5
Fees Rated 2.9 stars 2.9/5
Brokerage Rated 2.6 stars 2.6/5
Usability Rated 3.3 stars 3.3/5
Customer Service Rated 2.8 stars 2.8/5
Research Capabilities Rated 3.6 stars 3.6/5

Based on 112 Votes by IIFL Securities Customers

IIFL Securities Complaint

The number of IIFL Securities customer complaint received by the exchanges. The IIFL Securities consumer complaint report helps understanding the IIFL Securities Limited quality and relibility of service.

Exchange Financial Year Number of Clients* Complaints**
NSE 2020-21 228,467 28
NSE 2019-20 218,877 112
BSE 2019-20 64,954 13
NSE 2018-19 221,753 133
BSE 2018-19 48,542 19
NSE 2017-18 225,435 138
BSE 2017-18 88,975 36
NSE 2016-17 197,996 220
BSE 2016-17 98,133 25
NSE 2015-16 262,930 238