India Infoline (IIFL) provides research-based advice and trading platform for the entire range of financial products and services including Stocks, Derivatives, Commodities, Insurance, FD’s, Loans, Bonds, etc.
ABOUT India Infoline (IIFL)
India Infoline (IIFL) was first incorporated in 1995. It is a brokerage firm of India Infoline Groups. IIFL is a fast-growing financial services solution provider in India. Equity or Commodity Broking and Research is the key offering of India Infoline. India Infoline was listed on BSE (532636) and NSE (INDIA-INFO) for security trading.
IIFL has a wide network of 4500+ branches spread over 950+ cities across India. In Oct 2012, IIFL was reported for the average daily turnover of Rs 4355 crores in Equity and Rs 2254 crores in commodities.
IIFL was awarded ‘Best Broker with Global Presence‘ at the BSE IPF. IIFL also has an international presence through its subsidiaries in New York, Mauritius, Colombo, Dubai, London, Singapore, and Hong Kong.
India Infoline (IIFL) Rating
India Infoline/IIFL Trading Platforms
IIFL offers two different online trading platforms:
1. Investor Terminal (IT)
This is a web-based terminal and can be accessed easily from anywhere. It is a 5-Paisa’s equity trading terminal for low volume traders. But it provides very limited features compared to Trader Terminal.
2. Trader Terminal (TT)
It is designed for high volume equity traders or Day-traders. Trader Terminal provides you high volume trading with a very powerful interface and fast order execution. Below are a few features of trader terminal:
- It has the facility to place after-market orders.
- Transfer of funds online facility from leading Banks including HDFC, ICICI, CITI and UTI banks is possible.
- Online intra-day technical calls.
- Fast-trade execution facilities with instant trade confirmation.
- Live streaming quotes and price watch on any number of stocks.
- Intra-day charts, updated live, tick-by-tick.
- Updates on Live margin, positions, marked-to-market profit, and loss reports.
- Price alerts on any number of scrips.
- Facility to customize any number of portfolios & watch lists and various screen layout and setting.
- Options to cancel all the pending orders at 1-click.
- Facility to square-off all the transactions at 1-click.
- Reports on Top Gainers, Top Losers, Most Active, updated live.
- It provides you Index information, index chart, index stock Live information, etc.
- Great Market depth, that is Best 5 bids and offers, updated live for all stocks.
IPO / Mutual Funds investment through 5-Paisa (India Infoline)
- 5-Paisa provides a free facility for subscribing to mutual funds, equities, IPOs and other investment products using online banking through accounts of ICICI, HDFC, AXIS / UTI and Citibank’s.
- Registered users with 5Paisa can easily logon to the below website to apply in an IPO
- While applying for IPO shares online through 5Paisa, Investor is taken to their corresponding bank’s homepage. Investors can use their net-banking user id and password to transfer funds directly using any of the above banks.
- 5Paisa members can use similar steps to invest in Mutual Funds online as well.
India Infoline/IIFL Brokerage Charges
Account Opening Fees & Annual maintenance charges:
- Trading Account Opening Charges: Rs 750 (One Time Fee)
- Trading Annual maintenance charges (AMC): N/A
- Demat Account Opening Charges: Rs 555 (One Time Fee)
- Demat Account Annual Maintenance Charges (AMC): Rs. 300
- Intra-day Trades: 0.05% on the buying side and 0.05% on the sell-side.
- Delivery-Based Trades: 0.50% or 5 paise/share (whichever is higher)
- F&O Trade charges: 0.05%
- Options Trades: 1% of Premium (or) Rs 100 per lot (whichever is higher)
- Min. Per Share Brokerage: Rs 0.05
- Auction Brokerage: 1%
- VAS SMS Facility: Rs 249/month
How to open Demat account with India Infoline Limited?
Steps to open an account:
- Log on to their website and fill the registration/Enquiry form. Choose any of the two options. Either you will receive the form by mail or their agent will visit you personally. A personal visit is only available in a few cities.
- After Registration, you are required to deposit some amount of initial margin deposit. The deposit can be of any amount and any mode, but it should not be less than Rs 5000.
- Sooner your account will be activated and you will receive a welcome kit, which contains all the details about your IIFL account, your username and password, and the user manual. The kit will also contain a CD ROM which will allow you to install the trading software.
- It will take approx 15 days to complete all the formalities, if all the correct documents are sent on time and the forms are correctly filled.
- Documents required: 2 recent passport size photos, proof of identity and proof of address i.e. say electricity/ telephone bill, passport photocopies, Adhaar card, and PAN number.
Pros and Cons of India Infoline (IIFL)
India Infoline (IIFL) Advantages:
- Extended network of branches across India and abroad. IIFL has 4500+ branches in India in 950 plus cities.
- IIFL ‘Trader Terminal’ is one of the best desktop trading platforms in India.
- India Infoline is a ‘full-service broker’ that offers a wide range of popular financial products as well as advisory to its customers.
- It offers ‘Trader Multiple’ which can allow up to 12.5 times multiple on the available margin for a few selected scrips.
- IIFL also offers Equity Systematic Investment Plan or Equity SIP, through which the customers can place buy orders for a pre-specified amount or for a pre-specified quantity in scrips of their own choice over a period of time at regular intervals. A similar facility is also available in Commodity and Mutual Fund investments.
India Infoline (IIFL) Disadvantages:
- There is no intra-day tick by tick charts in Investor Terminal (IT).
- Also, investing in IPO and Mutual Funds is not as easy as ICICIDirect.
Pay only ₹20 per order for Intraday, F&O, Currencies, and Commodities.