IIFL Review

The IIFL Securities is a SEBI registered broker and is a member of NSE, BSE, MCX, and NCDEX. It is considered as one of the best brokers in the country when it comes to its trading platforms like the IIFL Markets Mobile app. IIFL provides one of the best research & advisory, investment solutions, and a personalized Portfolio Management Service to its customers.

IIFL securities is one of the largest independent full-service retail and institutional broking houses in India and is a trusted and well-known name in the stockbroking industry. With almost 25 years, serving over 2.3 lakh active clients in the industry, IIFL securities is a SEBI registered stockbroker with all required certifications and memberships. 

The company is trusted by its customers due to its strong brand name, values of the management, easy-to-use trading platforms, and advisory services. Hence the company can be considered as quite fair and as a customer, you can rely on IIFL Securities with your long term investments.

Nirmal Jain, the founder and executive chairman of the IIFL Finance Ltd is the current Chief Executive Officer (CEO) of IIFL, who was appointed to the post in June 2020.

IIFL stands for India Infoline Finance Limited.

Intraday brokerage is the charge an investor would incur upon buying and selling the stock within the same trading day.

Depending upon the plan that you’ve chosen, the IIFL Securities equity intraday brokerage is 0.5% for a normal plan and Rs 20 per order as per the Z20 plan.

The IIFL charges for options vary from different types of options (equity, currency, commodity) and depend upon the type of plan that you have chosen.
 

Transaction charges are the fees charged on both sides of trading by the stock exchange.

Individuals who are likely to trade in equity delivery or equity intraday, need to pay 0.00325% as transaction charges levied by IIFL.

For equity futures and currency futures, the transaction charges are 0.0021%. And for equity options and currency options, the charges are 0.051% on premium. The commodity transaction charges stand at 0.0028%.

For more details on IIFL transaction charges, click here.

The account maintenance charges (AMC) of an IIFL demat account is Rs 250 per annum, which is the same across all plans.

IIFL is not a discount broker, rather it is a full-service broker which provides end to end financial solutions for all its customers. The company provides various stock broking services, including research and analysis services, and provides them further to their clients through sub-brokers or online channels.

The money which is borrowed from a brokerage firm for the purchase of investment is known as margin. It is the difference between the total value of securities held in an investor's account and the loan amount from the broker.The margin in IIFL varies across its products and segments.

To close your IIFL Demat account the following details must be furnished with the account closure form:

1. Your ID and your Depository Participant ID.

2. KYC details like name and address that match with details submitted to IIFL.

3. The reason for closing the demat account.

4. Ensure that there are no dues on your account as well as no untraded securities.

5. A bank employee must mandatorily submit and verify the self-attested identity proof copy.

Yes, IIFL Demat accounts are safe as all demat accounts are opened with Central Depository Services Limited(CDSL). IIFL acts as only an intermediary between the customer and the central depository.

To withdraw money from your IIFL trading account, proceed with the following steps:

1. Login to ttweb.indiainfoline.com and click on “Fund Transfer”

2. Click on “Fund Payout”.

3. Enter the amount you wish to withdraw/transfer to your Bank Account.

4. Select the Fund Pay mode as, "Electronic Fund Transfer" or "Cheque through HDFC Bank"

1. Select Bank details from the list of banks mapped to your account where you want this cheque to be encashed.

2. Enter Remark and click on Payout.

3. Select Pay & Print location(for withdrawals through cheques only).

4. You will receive a token number at the end of this process.

Account opening with IIFL is free and there are no AMC charges for the first year. However, after the completion of the first year, AMC charges are ?450 per annum.