About the company
India Infoline, or IIFL, was created in 1995 and is one of India’s most well-known stock brokers. The Securities and Exchange Board of India regulates IIFL Securities. It is a major firm having over 4,000 branches in 900 locations across India, despite its Mumbai headquarters. Hong Kong, Dubai, New York, London, and Singapore are among the company’s international offices. Indices, commodities, futures, options, forex, and initial public offerings are among the stocks available to clients.
Clients that register for an account gain access to the Trader Terminal (TT) trading platform. Trader Terminal 4.1 and 4.0 are also available for free download on the broker’s website for Windows and Mac.
The user interface is simple to use; positions may be opened and terminated with a single click, and the market analyst offers trading advice. This includes price alerts and real-time market updates. To provide a safe login process, the platform portal also offers two-factor authentication.
The IIFL Markets app and the IIFL Mutual Funds app are the two mobile trading apps offered by the company. Both apps are accessible for Apple and Android users to download. Set up price alerts and receive free research reports and trading advice are also available.
Clients can use the mutual fund’s app to buy, sell, and track mutual funds. They can see the mutual fund scheme’s results and get guidance from fund managers.
Customers are charged a one-time fee for each order. Stocks are delivered free of charge, while intraday stocks, stock futures, and stock options cost Rs 20 for each order. Options on currency and commodity futures are also paid at a rate of Rs 20 per order. They are not charged a monthly fee in advance.
Whether you’re an NRI or a regular customer, you’ll need to register a Demat account with IIFL to trade assets, just like any other Indian stockbroker. When you open a 2-in-1 account, you won’t be charged a commission. The annual maintenance fee for the Demat account will be Rs 250, although the first annual price will not be levied.
For different assets, the company’s clients earn varied margin rates. Traders can use maximum leverage of 1:15 when trading the NIFTY 50 Stocks Index. With a maximum leverage of 1:25, futures and options can be traded. Online margin calculators are available to assist users in determining rates and fees. Leverage of 1:15, for example, indicates that a client can wager 100 rupees and trade for 1500 rupees.
Deposits and withdrawal
Although there is no minimum deposit, clients must trade with a minimum margin of Rs 1,000. Deposits made to a linked bank account are virtually instantaneously processed. Other electronic payment options can take up to three business days to process, while distant station verification can take up to 15-20 days.
RTGS transmission, connected Bank account, DD/payment order, IMPS transfer, Transfer OIL, Receipt are all online payment methods that can be used to make deposits.
The least amount that can be withdrawn is Rs 999. A balance of Rs 1,000 must be maintained on the account at all times. Withdrawals are typically completed within 24 hours, and cheques are normally delivered within 24 hours. Before withdrawing funds, you must provide your name and address.
Withdrawals can be made in the following ways: bank transfer, Transfer OIL, RTGS transmission, Receipt, Bonuses.
The firm offers a variety of other trading features, including a news portal. The dashboard includes connections to a range of sources that provide information on the foreign exchange market and other topics.
Customers can now use the Web Logon and Customer Portal to access the eLearning Knowledge Center. Customers may find information on Demat electronic accounts, trading accounts, and stock markets on this page.
- Clients do not have access to the popular MetaTrader platforms.
- 3-in-1 accounts not available
- No intraday tick chart functionality
- No demo account offer