Over the years the Indian stock market has endured its fair share of ups and downs but that hasn’t stopped people from investing their money in the stock market as the benefits of investing in the stock market outweigh that of other traditional investments.
As India continues to grow at a rapid pace it will rely heavily on the new generation to contribute to its growth in the stock market, but the problem here lies with the learning curve associated with investing in stock markets which is why the new and inexperienced investors look towards the brokers for guidance in this journey.
This series of reviews is aimed at reducing this knowledge gap and helping new investors in India learn more about the products and services on offer from these brokers.
In this blog, we will cover the various trading platforms, pricing and brokerage and other key services being offered by the full-service broker India Infoline Finance Limited (IIFL).
A Little about IIFL
Incorporated in 1995, IIFL is a full-service stockbroking subsidiary of IIFL Holdings Limited currently with a client base of 2,11,569 as of 2019-20. They provide equity broking services to retail as well as institutional clients. The stockbroker also has a presence in 4000 cities around the world with 900 being in India with its reach being much better in the northern states of India like Punjab, Rajasthan, Haryana, etc.
One of the major reasons for its popularity is its accurate research provided to its clients which is supported by a strong in-house research team and a dedicated customer support system.
IIFL won the “Best Broker with Global presence” award at the BSE-IPF D&B Equity Broking Awards in 2012 due to its global presence in cities like Hong Kong, New York, Colombo, London, and Singapore through its various subsidiaries. IIFL’s research team has also been awarded many accolades over the years.
IIFLmainly allows its customers to trade in the Equity, Currency Trading, Commodity Trading, IPOs, Mutual Funds and Bonds segments. IIFL is based out of Mumbai with over 8,000 employees and also has a discount broking subsidiary called 5Paisa operating out of Thane, Mumbai offering competitive pricing as compared to its competitors.
Here is a detailed look at their services:
IIFL offers the following trading platforms to its customers:
IIFL Trader Terminal
This is an executable application which needs to be downloaded and installed on the user’s laptop/desktop to start trading. This app is made especially for those who are active traders and like to trade in high volume. Here are some of the features of the app:
- Suitable for high volume trading with powerful interface and super fast order execution
- Live streaming of market quotes and prices for multiple stocks
- Access to Live Intraday price charts which get updated live
- Get instant P&L of your present and past trades
- Follow as many stocks as you want and get instant alerts on any price movements
- Easy cancellation of past and present orders at the click of a button
- Track the top gainers and losers of the day
- Facility to square off all your trades at the click of a button
- Online fund transfer facility with banks like HDFC, ICICI etc.
- Access to research reports, market calls to help you with your trades
- Online intraday calls, technical analysis tools and much more at the click of a button
Here is the look and feel of the terminal:
IIFL Trader Terminal Web
The trader terminal application is also available as a browser-based platform where you just need to login and start trading without having to go through the hassle of installing a software. This terminal is made for those customers who want don’t want to trade in high volumes and doesn’t offer super-high speed execution of trades.
Users can log in based on what particular segment they want to trade in. Some of the different logins are below:
Some of the features of this application are:
- Heat maps
- Ease of access from your browser
- Research reports and real-time tips
- Advanced tools and charting patterns
Here is the browser based application looks like:
IIFL Markets Mobile App
IIFL Markets is the mobile app from India Infoline which is available for Android, ios and Windows users. This app is very highly rated on the Android App store with a rating of 4.3/5. Some of the features of the mobile app are below:
- Access to live market updates and news on the tap of a button
- Trade from anywhere using a single swipe feature which allows you to place trade by swiping
- Set price alerts of securities across all segments
- Make multiple watchlists across different segments
- Easily connect with the customer support at the tap of a button
- Users can now apply for an IPO through the mobile app
- Get all the required information about a stock from price to latest news and updates at a single click
Here is how the app looks like:
IIFLs Mobile App is one of the top performing apps in its segment with great features and fast loading speed. However, that being said it can still be improved in a few sections.
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