IIFL offers trading platform and research-based advice for entire range of financial products including Stocks, Derivatives, Commodities, Insurance, FD’s, Loans, Bonds etc. They have also come us with a new product know as Online Investor IIFL flat brokerage charging which works like a discount broker.
IIFL Full service broker : This is the main offering of India Infoline and they have a wide network of 4400 branches spread over 900+ cities across India with more than 14000 employees. Because of the reach, it is very popular and it should not be difficult to find one near your home. There full service brokerage charges are as follows :
Account Opening Fees & Annual maintenance charges (AMC)
- Trading Account Opening Charges (One Time): Rs 750
- Demat Account Opening Charges (One Time): Rs 555
- Demat Account Annual Maintenance Charges (AMC): Rs. 300
- Intra-day Trades: 0.05% on the buy side and 0.05% on the sell side.
- Delivery Based Trades: 0.50% or 5 paise per share whichever is higher.
- F&O Trades: 0.05%
- Options Trades: 1% of Premium or Rs 100 per lot whichever is higher.
- Minimum Per Share Brokerage: Rs 0.05
- Auction Brokerage: 1.00%
- VAS SMS Facility: Rs 249 per month
These rates can be negotiated based on the volume of trade you are doing. With this they provide full services including research based stock recommendations.
Brokerage offered by IIFL
The brokerage offered with a margin check of Rs 10,000 which is the minimum required is as follows.
The brokerage offered with a margin check of Rs 1 lakh is as follows:-
|Options||Rs.70/lot|IIFL Online Investor Flat brokerage offering : This is there newer products in which they are targeting customers who are traders and want cheap brokerage plans. In this, they have a flat brokerage rate of Rs 9.99 per trade irrespective of the volume. This product has been discontinued and is no longer available. The other charges associated with these account are as follows :
- Call & trade charges Rs. 20 extra, per order executed plus service tax per debit.
- Fund Transfer charges Rs. 9.99 per day plus service tax will be charged for any fund transferred online during the day from client account to IIFL account.
- Physical statement charges Rs. 20 per request plus courier charges plus service tax.
- Inter/settlement /Beneficiary to pool transfer would be charged Rs. 9.99/- + Service Tax
- Digital contract notes would be sent via e-mail.
Compared to full service brokerage charges, these are very low. But do keep in mind that there will be know stock recommendations or any other value added services which you get with there full service brokerage account.
This is one of the first full service broker which have come up with a discount broker structure. Only time will tell if they are able to provide quality services to the discount brokerage clients also. It could be a nice fit for customer who still are comfortable to trade with a broker whose office they can see unlike other discount broker who work fully online.