IIFL Securities Review | Brokerage Charges, Account Opening
IIFL Securities Track Record Of Best Online Stock Broker In India
IIFL Securities Review | Brokerage Charges, Account Opening
IIFL Securities is a part of IIFL Group and was incorporated in 1995. It is among the largest independent full-service stock broker house that serves various retail and institutional clients. The IIFL group is the leading financial service provider in that provides a broad range of services. It is the highly recognised brand for the quality of advice, personalized service and the usage of cutting-edge technology.
The full-service stock broker provides an online trading and research-based advisory services for the complete range of financial products that includes Stocks, Derivatives, Commodities, Insurance, FDs, Loans, IPO and Bonds etc.
The full-service broker has a broad network across India. Its branches are spread across all the major cities and states. It is very famous among the retail investors and the traders for their personalized services by taking the help of Relationship Manager and the branches.
The Unique Offering of IIFL is the Equity or Commodity Broker and Research. It was initially introduced as the retail broking firm and launched its 5paisa trading solution or platform. Its 5paisa firm provided the discount brokerage charges in the stock broking industry and also has given freedom to make the transactions by several traditional ways.
The firm always focus on reinventing and innovating itself constantly. The full-service broker avails its customers to trade in all types of investment options with a single trading platform. It was awarded with “Best broker with Global Presence” at the BSE IPF. The firm also has its presence internationally by its subsidiaries in New York, Mauritius, Colombo, Dubai, London, and Hong Kong.
Products and Services
IIFL is a leading financial provider that provides its customers with a broad range of services by meeting their needs and requirements. It provides various trading software to its customers so that they can do trade with ease and fulfil the needs and requirements of their customers. The trading platform provided by IIFL Security are listed below:
1. IIFL Markets App (Android and iOS)
2. Trader Terminal (TT Website)
3. Trader Terminal (TT.Exe Desktop PC)
4. TT Iris
5. IIFL Mutual Funds App (Android and iOS)
The company serves fantastic services to its customers to satisfy its customers completely.
IIFL Securities provide various affordable brokerage plans to its customers. The three types of brokerage plan on the basis of customer profile are:
1. Investor Plan (Online Plus)
2. Super Trader Plan (Pro Traders)
3. Premium Plan (Dedicated RM)
The customers can choose the plans whichever they find suitable for them. Some of the general services provided by the full-service broker are:
1. Demat Services.
2. Trading Services.
3. Intraday Services.
4. IPO Services.
5. Stock Recommendations.
6. PMS (Portfolio Management Services).
Its PMS Services helps the customers in a very smart way so that they can manage fund wisely. The customers can easily track the status of their investment portfolios. The firm provides complete assistance to the customers in making the investment robust and profitable.
Advantages of IIFL Security
1. It is a full-service broker that has an extended network of branches to guide and help the customers online as well as offline.
2. It provides equity and Mutual Fund research and recommendation services to all its customers.
3. It provides the best trading terminal to its customers.
4. It has a vast range of financial products that includes stocks, derivatives, bonds, IPO, Mutual Funds, Corporate FDs and Insurance.
5. It facilitates its customers with a RM (Relationship Manager).
6. It offers Equity Systematic Investment Plan I.e. Equity SIP.
7. It provides advanced order type like Valid till Date (VTD).
Disadvantages of IIFL Securities
1. Brokerage charges are high as compared to the discount brokers.
2. It does not provide three-in-one account since IIFL does not have banking license.
3. It does not provide the facility of Mutual funds.
Frequently Asked Question
Yes, the clients can have two separate trading accounts based on NRE and NRO.
The Headquarters of IIFL are located in India.
The customer can simply submit the documents to their Relationship Manager and the documents must hold a stamp of “Verified with original” and need to have signature of RM or branch manager.
FEMA provisions provides permission to the Indian Companies to issue right or bonus shares to existing non-resident shareholders that is subjected to adherence to sectoral cap as may be applicable.
An entity contracted to keep up the record of the owners of the stocks and the bonds that are issued by the company.
• A Resident Indian Individual Account. • HUF Account. • Partnership Firm Account. • NRI Account. • Minor Account. • Corporate Account. • Trust Account.
The transfer of securities from the account in one depository to an account in the other depository is termed as an inter-depository transfer.
No, the NRIs are not allowed to make Intraday transactions. They can only trade on delivery basis. Short selling is not allowed.
Rohit Sharma is the brand ambassador of IIFL.
The customer can square off the stocks through Non-POA holding under the holdings section by selecting the stocks you are willing to sell and authorizing the same via T-Pin procedure.
HDFC Bank, Axis Bank, RBL Bank, Federal Bank, State Bank of Mauritius, Yes Bank and Kotak Bank
As SEBI regulates the Stock Market, Forward Markets Commission (FMC) regulates the commodity market.
IIFL sends DP transaction that includes holding, bill statement (monthly) to their registered mail Id.
A Demat and a trading account can be opened with IIFL Securities.
SEBI has assigned DPs in order to determine the value of holding on to the basis of the daily closing price or Net Asset Value of the securities or the units of mutual funds. If the value of your holdings exceeds by the slabs then the DPs are permitted to change the same as they charge non-BSDA regular demat accounts.
Any transaction that involves delivery of securities to a clearing corporation or clearing house for sale of securities done on the stock exchange platform is termed as “On Market Transaction”.
IIFL POA form is signed for the limited purpose. It allows IIFL to perform limited activities in the demat account of a client like the debit of shares from the account. IIFL asks its customers about the Power of Attorney (POA).
CM BP ID stands for Clearing Member Business Partner Id.
You can simply contact the RTA of the company.
An individual needs to submit dematerialization request by sending a duly filled dematerialization request form to the DP along with the certificates of securities to be dematerialized.
The Securities that are held in the depository account can be pledged in order to avail the loan or credit facility. Pledge of Securities in CDSL/NSDL depository requires both the borrower and the lender to have an account within a same depository either in NSDL or CDSL.
The customers will receive SMS on the registered mobile number and a welcome mail on the registered mail id. He will also receive a welcome letter along with the welcome kit on the registered address. Further, the customers will receive the password on the registered mobile number.
IIFL Securities is among the best brokers in terms of its trading platform like IIFL Markets Mobile app, best research and advisory, complete investment option and the personalized PMS.
Your Relationship Manager will contact you in case there is any kind of rejection.
A minor can be nominated if he submits an Id proof and address of the guardian of the minor nominee shall be provided by the beneficial owner along with the birth certificate of minor.