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India Infoline or IIFL Review by A Digital Blogger

India Infoline or IIFL Review

India Infoline or IIFL is a full-service stockbroking firm of IIFL Holdings Limited. Incorporated in 1995, IIFL has a presence in more than 4000 locations of around 900 cities in India along with offices in Hong Kong, Dubai, New York, Singapore, Geneva, London, and Mauritius.

As per a 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 allows you to trade across segments including:

  • Equity
  • Currency
  • Mutual funds
  • Commodity
  • IPOs
  • FD
  • Bonds

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.


"India Infoline (IIFL) has an active client base of 2,08,964 as of 2017 this financial year."


 

 

IIFL Trading Platforms

India Infoline (IIFL) has an array of trading platforms available across all kinds of devices. Here are the details:

IIFL Trader Terminal

Trader terminal is an executable application that can be installed on a laptop or a desktop to carry out trading. A .net framework needs to be installed before installing this particular application. As of now, it is available only in windows version but is loaded with these features such as:

  • Real-time market watch updates
  • Highly secure with various authentication measures
  • Quick and confirmed order executions with decent speed and performance
  • Access to market calls, research reports and market mantras for users looking for technical and fundamental analysis.
  • Multiple types of charts, technical indicators, heat maps for analysis
  • Customization and personalization allowed at multiple levels with users allowed to change the dashboard widgets, set alerts and notifications.
  • Users can transfer funds across more than 40 prominent banks of India including ICICI, Axis, HDFC etc.

 

 

IIFL Markets

IIFL Markets is a new age trading mobile app from India Infoline (IIFL) 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 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 stock market portfolio in a much better way.
  • Users can apply for IPO/OFS using the 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

 

 

IIFL Trader Terminal Web

Trader terminal application is also available as a browser-based trading platform. Users do not need to download or install any software in this case but just visit a particular link, log in and then they can start trading directly from any desktop or laptop. Depending on what particular segment you like to trade, there are different logins for:

  • Equity
  • Currency
  • Commodity

This is a single sign-on application with:

  • Data tools and charts
  • High-speed order execution
  • Heatmaps
  • Latest market tips and research reports

 

IIFL Customer Service

IIFL has the following communication channels for its clients to reach out to them:

  • Toll-Free Number
  • Phone
  • Email
  • Offline branches

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 voice 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 Pricing

To open an account with India Infoline (IIFL), you need to pay account opening and 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

India Infoline (IIFL) 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.

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 few years.

 

Use this IIFL Brokerage Calculator to calculate complete charges and your profit.

Intraday Cash Volume: Brokerage applicable both sides

This plan is applicable for users who are looking to trade for a quick short-term level, primarily within the same trading day.

 

Futures Volume: Brokerage applicable both sides

This plan is applicable for users who are looking to trade in futures segments.

 

Options Volume: Brokerage applicable both sides

This plan is applicable for users who are looking to trade in Options segments.

 

IIFL Flat Brokerage Plan (FBP)

Flat brokerage plan is as per a conventional brokerage plan based at a transaction level:

 

 


How IIFL Brokerage works?

Like in case of any other full-service stockbroker, India Infoline charges a percentage based brokerage charge. For instance, if you trade in the delivery segment for a value of ₹1,00,000 - then with brokerage rate of 0.50%, you will be required to pay ₹500 as brokerage charge excluding other taxes.

Thus, you are advised to use services of a full-service broker only when you are open to paying this brokerage rate.


IIFL Value Added Subscription Plan (VAS)

Value Added Subscription plan requires a client to make an upfront payment in advance for a 12 month period. This 12-month subscription fee is non-refundable in nature. Having said that, this is one of the best value for money plans if you are a regular trader.

For more information on this, you can check India Infoline or IIFL Review

 

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Sunday, 26 January 2020

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