India Infoline Review: All About The Brokerage House You Need To Know
India Infoline is a giant of full service broker. However, the broker is better known as IIFL Securities. The company was initiated in 1995, Thane. In fact, it is one of the few brokerage houses to come from Thane. The company claims to have over 4,500 branches across the country. Moreover, it even claims to have a daily turnover worth Rs. 4,355 crores in Equity and Rs. 2,254 crores in Commodities. The broker is considered to be one of the highest contributors to the national exchanges. In other words, it is one of the most successful retail brokers in India. Anyway, this article does not indulge in merely praising the broker. And, it’s definitely not drafted to provoke an emotion of favorability for the broker. On the contrary, it concerns itself with answering certain questions about the company. We’re referring to the questions that pretty much make the foundation of any broker. So, you may expect a description of India Infoline’s charges, brokerage pattern and even list of products and services. We’ve even explained the process to become an India Infoline trader. Do understand that we’ve created this article based on the data available publicly. However, we must even tell you that certain sections of the article deal with things not exposed in the public records. These sections are created on the basis of an anonymous survey. And, this survey was conducted by us with the help of nearly 4,500 people. In short, this is article may be considered as India Infoline’s customer review as well.
Customer Reviews and Ratings
|Experience||8.8 / 10|
|Trading Platform||8.4 / 10|
|Product & Services||8.6 / 10|
|Brokerage Charges||8.2 / 10|
|Research||8.3 / 10|
|Overall Rating||8.46 / 10|
The table above is meant to give you a hint of India Infoline’s customer review. We have subdivided the table into eight categories. And, each of the categories rates the broker for one of its business aspects. The first one is dedicated to Experience its customers have with it. As you can see, they’ve rated the broker 8.8/10 for this part. The next part considers rating India Infoline’s trading platforms. The customers have rated the broker 8.4/10 for this particular aspect. Then we have the categoric rating for products and services of the broker. This one got 8.6/10 from the customers. The next part is dedicated to Brokerage Charges of the broker. And, they have received 8.2/10 from the customers on this. At last, we have the categoric rating for Research commenced by India Infoline. This is rated at 8.3/10 by the customers. The overall rating received by the broker by its customers is 8.46/10. And, it even has a 4 star review. Please acknowledge the fact that the India Infoline review was aggregated from a total of 4,329 customers reviews.
About India Infoline: An Insight Into The Company
|Broker Type||Full Service Broker|
|Founder||Nirmal Jain, Rajamani Venkataraman|
You have seen the way customers reviewed India Infoline for their several business aspects. Now, it’s time you learn something about the broker’s origin. And, that’s exactly why we’ve prepared the table above. It is meant to grant you an access to the basics of the broker. India Infoline or IIFL Securities, as it’s known to some came into business in 1995. The very idea of creating such a brokerage firm was derived by Nirmal Jain and Rajamani Venkataraman. They established the headquarters of the brokerage firm in Thane, Maharashtra. And, they’ve always been on a track of growth. In fact, the very motivation to provide the best financial services to everyone has led them to grow into the gigantic firm they are today. Speaking of which, you must know that they have over 4,500 branches across the country. Needless to say, they are one of the biggest contributors to the nationally acclaimed exchanges. Moreover, they’ve even acquired the Depository Partnership of both NSDL and CDSL. And, this enables their traders to easily access and safe keep their bought shares. That was all you need to know about India Infoline’s origins. However, there’s lot more to be discussed about the broker. We’re referring to India Infoline’s offers and trading platforms. So, stay glued to the article as we move forward.
How Much Brokerage Does India Infoline Impose On Clients?
|Brokerage Charge & Fees|
|Equity Delivery Trading||0.1%|
|Equity Intraday Trading||0.5%|
|Commodity Options Trading||0.5%|
|Equity Futures Trading||0.5%|
|Equity Options Trading||Rs.100 per Lot or 1% of Premium (whichever is higher)|
|Currency Futures Trading||0.05%|
|Currency Options Trading||Rs.100 per Lot or 1% of Premium (whichever is higher)|
|Minimum Brokerage||Rs.0.05 per Share|
|Demat AMC Charges||Free or Rs.300 per Annum|
|Trading AMC Charges||Free|
|Margin Money||Minimum Rs.25,000|
|Brokerage Calculator||IIFL Brokerage Calculator|
The persona of any broker is depended on how they plan their brokerage. And, as fa as India Infoline’s brokerage is concerned, they’ve a pretty good persona. However, you do not need to believe us just yet. We’d suggest you consider the table above before deciding anything nonetheless. It’s basically a short description of India Infoline’s brokerage charges. And, it begins with Equity Delivery Trading. The charges allocated for these services is worth 0.5% per transaction. In fact, the broker levies this exact rate for four more services. We’re referring to Equity Intraday, Commodity Options, Currency Futures and Equity Futures trading. Even Equity Options and Currency Options are charged at a similar rate. Both the services require a brokerage worth Rs. 100 per lot or 1% of the premium. The defining brokerage for these services are dependent on whichever is higher. The broker even seeks a minimum brokerage worth Rs. 0.05 per share. They do not levy any charge for Trading AMC. However, Demat AMC concerning India Infoline is situational. This means that the brokerage for this particular service may vary from zero to Rs. 300 a year. The broker even requires their traders to have a minimum Margin Balance. In fact, a limit of Rs. 25,000 is allocated for this very service. And, none of their clients can avail their Trade Exposure facilities without maintaining this limit.
Other Charges: List Of Charges Apart From Brokerage As Imposed By India Infoline Broking
|Transaction Charges||0.00325% of Total Turnover|
|STT||0.0126% of Total Turnover|
|SEBI Turnover Charges||0.0002% of Total Turnover|
|Stamp Duty||Depends on State (very minimal)|
|GST||18% of (Brokerage + Transaction Charges)|
The list above is a representation for India Infoline’s other charges. Other charges are considered as the list of taxes a broker imposes. These charges are all levied on behalf of different government policies. In fact, they are paid off to different government bodies as well. All of these are mandatory charges and are non-negotiable. Anyway, the table above as see has a total of 5 divisions. And, each division is dedicated to describing a proper tax. The table begins by unfolding the charges required to be paid as Transaction Charges. This particular tax is imposed at a rate of 0.00325% of total turnover. The next division defines a charge for STT. STT is otherwise known as Securities Transaction Tax. And, it is charges at a rate of 0.0126%. The third set of charges are imposed on behalf of SEBU Turnover Charges. These are imposed at a rate of 0.0002% of total turnover. The fourth division mentions Stamp Duty. However, it does not define the charges required for this matter. That’s because, Stamp Duty varies from state to state. And, at last you’ll find the fifth division that defines GST. This is imposed at a rate of 18% over all brokerage and transaction charges.
All Charges Corresponding to India Infoline Demat Account Opening
|Account Opening Fees|
|Depository Source||NSDL & CDSL|
|Account Opening Charges||Rs.1300|
|Demat AMC Charges||Free or Rs.300 per Annum|
|Trading AMC Charges||Free|
|Margin Money||Minimum Rs.25,000|
|Offline to Online||Yes|
The chart above deals with India Infoline’s account opening charges. So, without any further ado, let’s
define each row of the table. The table begins by describing the Depository Partnerships of India
Infoline. And, as you can see, the broker has a license to act as the DP of both NSDL and CDSL. A charge
of Rs. 1,300 is applicable for India Infoline Demat charges. Actually, that’s the only charge they take for
their Demat or Trading Account. India Infoline’s Demat AMC is charged at Rs. 300 per annum. India
Infoline’s Trading AMC is free nonetheless. So, you may use all of their Trading Account related services
for free. The broker requires traders to have at least Rs. 25,000 in their accounts. This is the Minimum
Margin limit set by IIFL. And, it must be maintained in order to avail any sort of leverage or trade related
exposure. The broker even allows Offline to Online transactions for their clients’ sake.
List Of Offers Provided By India Infoline
|Free Demat Account||Yes|
|Free Trading Account||No|
|Discount on Brokerage||No|
|Trading Happy Hours||No|
|Flexible Brokerage Plans||Yes|
|1 Month Brokerage Free||No|
|Zero Brokerage for Loss Making Trades||No|
As a full service broker, India Infoline offers only a handful of relaxations. And, these relaxations come in the form of Flexible Brokerage Plans, Free Demat Account and Referral Offers.
India Infoline Account Opening Procedure
The importance of this section depends on your interest in India Infoline. In fact, it depends on whether you want to open an India Infoline Account at all. Well, if you just answered yes, then this is going to get very interesting. That’s because, this section will deal with India Infoline’s account opening procedure in detail. So, here’s how it goes: –
- Step one in this procedure is to click on the ‘Open Account’ button. You’ll be redirected to a new page after you do that. And, this new page will have a blank form for you to fill up.
- Second step will be to read the form very carefully. Make sure that you understand every requirement it demands. Once you’re past reading the form, fill it up. You must only provide information that is relevant and verifiable.
- Step three is to submit the form alongside a few official document copies. These copies are required to either establish or verify your identity, age, address and economic status. So, please ensure you provide the relevant ones. Here’s a list to help you with accumulating the document copies. Anyway, you’ll need: –
- A copy of your PAN Card.
- A copy of your ADHAAR Card.
- A copy of your Voter’s ID card.
- A copy of your Bank Account Statement.
- A copy of your passport sized image.
- The fourth and the last step is the simplest of all. It only requires you to be patient. So, you’ll be expecting to receive a call at this stage. This call will be placed to you by one of the broker’s representatives. He/she will guide you through any remaining formalities. And, then you’ll be handed over the access to your new account.
Reasons To Open Up An Account With India Infoline
Here are some of the most relevant reasons to consider India Infoline’s accounts: –
- They allow their traders to get a glimpse of the tope 500 stocks in the market on any given day.
- They have one of the largest physical presence in the country. And, all of their branches are equipped with equally experienced staff.
- They provide one of the best research related materials to their clients. And, their advisory services are formulated on multiple parameters including personal risk profile.
List Of Products Offered By India Infoline
India Infoline has been in the business for over 25 years. And, all these years’ exposure has given them a keen understanding of the market. In fact, this exposure has even made them considerate of their customer’ requirements. We’re talking about India Infoline’s products lineage. It includes services related to Equity, Currency, Futures, Options, Commodity, Mutual Funds, Forex and even SIPs.
List Of Services Offered By India Infoline
|3 in 1 Acount||No|
|Trading Exposure||Upto 32 X|
India Infoline’s services’ list includes some very exclusive inclusions. We’re talking about PMS, Stock Recommendations and IPO services. The exclusivity of the list is balanced nonetheless. This is done by including services like Demat, Trading and Intraday into the list.
Research & Advisory Facilities As Provided By India Infoline
|Research & Advisory|
|Company Stock Review||Yes|
|Daily Market Review||No|
There isn’t any exclusion in the entire list of India Infoline’s research and advisory services. As a matter of fact, they provide all sorts of research related services with equal finesse. And, these are the services they have to offer: –
- Services like Fundamental, Research and Company reports are included within their list.
- They tend to publish their reports annually, monthly and weekly.
- They grant Company Stock Review, IPO Reports, Free Stock Tips and even Top Picks.
- They publish an exclusive Daily Market Review every day.
- And, they even allow their clients the luxury of Offline Advisory and Relationship Manager.
List Of Trading Leverage As Provided By India Infoline
|Exposure / Leverage|
|Equity Delivery||Upto 5x|
|Equity Intraday||Upto 10x|
|Equity Futures||Upto 7x|
|Equity Options||Upto 5x|
|Currency Futures||Upto 8x|
|Currency Options||Upto 5x|
Customers can leverage from many of the services provided by India Infoline. However, neither of the services is as useful as the Trade Exposure they grant. And, that’s exactly what the table above tries to explain. The company willfully waives an exposure of upto 5x on Equity Delivery, Equity Options and Currency Options. They even allow an exposure of upto 7x over Equity Futures trading. Another exposure of upto 8x is provided on Currency Futures and Commodity based trades. And, the best exposure of upto 10x is granted over Equity Intraday trades.
List Of All India Infoline Trading Platforms
|Desktop Platform – Windows||Yes|
|Desktop Platform – Mac||Yes|
|Desktop Browser Platform||Yes|
|Mobile Site Platform||No|
|Android App Platform||Yes|
|iOS App Platform||Yes|
|Windows App Platform||No|
|Other Mobile OS Platform||No|
|Real time Updates||Yes|
|Online MF Buy||Yes|
|Multi Account Management||Yes|
There are in total 3 India Infoline platforms that correspond to online trading activities. All of the platforms are specific to some sort of functionalities. In fact, each of them is dedicated to a specific purpose as well. Here’re some more details on the platforms: –
- India Infoline Desktop Based Trading Terminal: This platform is better known by the name of IIFL TT Edge. It is basically a desktop based platform. And, it is compatible to operate on both Windows and iOS based platform. Some of the most promising attributes of the platform are:-
- The platform enables traders to place orders even after market hours. This can be a really useful attribute, especially when you cannot keep track of time due to busy schedule.
- The platform is built on one of the most exquisite frameworks. And, this enables it to respond instantly to trade commands. It even provides instant confirmations to trade executions.
- The platform can be used to keep a track of the live market. This can be done by monitoring the live quotes it runs.
- The platform is designed to provide you with immediate alerts on price variations over any scrip.
- India Infoline Mobile App For Traders: This goes by the name of IIFL Markets App. This is an Android based app. And, it can easily be installed from Google Play Store. Here are some more details on the app: –
- The app is designed to provide extensive customization options. In fact, the users can even the app to customize their watchlists across various exchanges and indices.
- The app is capable of showcasing the top 500 stocks on any given day.
- The app has separate dashboards and options for currencies, commodities and even indices.
- It can be used to fully keep a track of the user’s trade profile.
- India Infoline Web Based Platform: This platform is a counterpart of India Infoline’s desktop based trading terminal. And, it requires an active internet connection to function properly. It is called IIFL Online Trading Platform.
Customer Care Services By India Infoline
|Toll Free Number||1800 3000 1155|
India Infoline’s Customer Care services are admired by all of their clients. In fact, these services are one of the major reason as to why the broker is so renowned. Here’s what they offer: –
- They provide proactive online trading services. These services even include the provision of 3 different trading platforms.
- The broker provides their clients with dedicated dealers to help them throughout trading.
- India Infoline’s Customer Care Number is 1800 3000 1155. They even provide assistance over email and chat.
- They have a total of 120 authorized branches apart their humongous franchise network.
Complaints Against India Infoline
|Complaints (Last Year)|
|Lodged in BSE||145|
|Resolved in BSE||122|
|Lodged in NSE||214|
|Resolved in NSE||212|
The table above is a representation of all India Infoline’s complaints. And, the data is compiled for merely the calendar year 2019-20. So, as you can see, they received 145 complaints against them in BSE. They managed to compensate 122 of them nonetheless. They even received 214 complaints in NSE. And, they effectively dozed off 212 of the complaints within the given time.
Disadvantages Of Trading With India Infoline
Irrespective of being in the top ten, India Infoline still has its own set of flaws. Here’s what we’re talking about: –
- They do not facilitate offline trading activities.
- They do not offer a 3-in-1 account.
- They do not provide any sort of discounts on their brokerage plans.
India Infoline is undoubtedly one of the best broker India ever had. And, it has some of the best trading platforms to offer. However, it even has its fair share of flaws. And, you know them all rather well. So, it is all upto you decide if you want to go with IIFL for their services or not!
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