IIFL SECURITIES DEMAT AND TRADING ACCOUNT OPENING PROCESS AND FEATURES.
IIFL Securities Limited is one of the largest Indian, Independent full-service retail and Institutional broking house in India. IIFL is Formerly India Infoline Limited leading investment advisory firm. IIFL Incorporated in the year 1996 in India by passionate entrepreneurs.
IIFL provides diverse financial products and services to corporate, institutional investors, insurance companies, foreign portfolio investors, and high net worth individuals and retail clients. IIFL is one of the best customer concentric company, who constantly create value to the customers through the service and financial products offered like IIFL securities Demat account.
- IIFL institutional equities business offers research and corporate access services to institutional clients along with the brokerage service.
IIFL is well-positioned as a prominent brand in the industry backed by high-end technology platforms, a vast network of branches across the country, and qualified and experienced management. With advanced investment planning and quality offerings, IIFL securities continuously strive to deliver more and more value to its existing and new customers.
IIFL Financial Service:
IIFL security is a key player in both institutional and retail segments. IIFL is a leading player in the share market broking industry with more than 4 million active customers since inception. The company provides execution, research, and advisory service across products like Commodity& Currency, Equity, F&O, and Mutual Funds. IIFL is also one of the top distributors of mutual funds and AIF products.
Why do you need to open a Demat And Trading account with IIFL?
IIFL is one of India’s leading integrated financial services providers with diverse operations in Non-Banking, Wealth and Asset Management, Housing Finance, Financial Advisory, Investment Banking, Mutual Funds, and Broking Services. The following features of the IIFL securities Demat account make it one of the best choices for investors and traders.
- Networth of 4,000 cr+
- 4 million + active customers.
- 18,000+ Employees
- More than 2,300Branches across the country.
At the beginning of FY21, across various business segments, IIFL is servicing more than 4 million satisfied customers and is continuously expanding its customer base and delivering excellent service.
KEY FEATURES OF IIFL SECURITIES DEMAT ACCOUNT:
Below is a quick view of the key features of the IIFL securities Demat account.
|IIFL Date of Incorporation||IIFL Incorporated in the year 1996.|
|Features of IIFL Securities||Networth of 4,000 cr+|
4 million + active customers.
18,000 + Employees
More than 2,300 Branches across the country.
|Demat Account opening process||Online or Offline methods are avilable.|
|Years of service||In FY21, it completed 25 years of service.|
|Current customer count||4Million + happy Customers|
|Type of operation:||Full service and Discount broking.|
|Brokerage Plan for discount broker:||0 Rs Delivery Brokerage for Lifetime.|
INR 20 per order for Intraday, F&O, Currency & Commodity.
|Mobile application:||IIFL Markets- All in one platform and easy to use.|
|Speed of App:||Competitive.|
|Stock Recommendation:||Research base free recommendations.|
|Account Opening Charges:||Free.|
|AMC charges:||First year free.|
Second year onwards Rs. 450 / year.
|Leverage & Margin:||Up to 10X|
|Brokerage and DP charges:||Brokerage : INR 0 per order for delivery |
and INR 20 per order for Intraday.
DP Charges : ₹ 20 per debit instruction
|Auto square charges:||Free.|
|Mutual fund & SIP charges:||Free of service.|
|Market closing timing||3:30 PM every market day.|
|Customer care support:||Over phone, mail and Chat.|
|Bank to trading account transfer charges:||Free for UPI.|
INR 8 + GST, for payment gateway.
|Account closing charges:||Free.|
IIFL DEMAT ACCOUNT OPENING PROCESS:
The IIFL securities Demat account opening can be done either online or offline method.
A dematerialize account (Demat) is an account used to hold shares and securities in electronic forms, Like money in the bank savings account. A Trading account allows you for online trading via a depository participant (DP) in the exchange.
Who all can open IIFL Demat and Trading Account:
Any resident Individuals, NRI’s, Minors (Only Demat account, as sole holder) can open the IIFL securities Demat and Trading account, either online or offline method.
In the offline method, we can visit directly into the nearest IIFL office and submit the filled account opening forms which are available on the website or we can directly collect it from the respective office.
- Submit the relevant documents for KYC and the Bank account proof and the latest photo along with the filled application form.
Here are the steps by step need to follow for opening IIFL Demat and Trading account online.
Step 1: Link to website
Visit the IIFL securities Demat account website by clicking the below link.
Link to download the IIFL Market application
Step 2: Fill in Basic details
Place account opening request in the respective field in the IIFL portal by submitting your name & number in the form.
You will receive an OPT, Verify the OTPs, after that, you will be required to fill and submit an online account opening form.
- If need any help, Wait for the support agent to call back to assist you in the further process.
Step 3: KYC Details submission:
To open an account with the DP, KYC formalities need to fulfill. KYC formalities include submission of required identity proofs along with the duly filled application form.
- If you are intending to trade in the Derivatives segment, you need to submit the income proof as an additional document along with the KYC details.
Step 4: Submit the Bank Details:
Submit the Bank details for linking your trading and Demat account as the broker is providing only the 2-in-1 account.
Step 5: Verification:
Once you submit the application form along with the KYC documents, the IIFL back-end team will verify the authenticity of the KYC documents submitted.
Step 6: Receiving Account details
Upon completing the application process at the DP, you will receive a unique Beneficiary Owner Identity (BOID).
- The BOID is a 16-digit unique number of your Demat account.
After completing the account opening process, you can fill the IIFL POA form, to provide the power of attorney to your broker to debit shares from your Demat account, during the sell order.
Documents needed for IIFL Securities Demat and trading account opening:
We need to provide documents, proof of identity, proof of address, Proof of bank details, and proof of income (For Derivative segment trading )to open the IIFL securities Demat account.
Proof of Identity for KYC:
Any of the following documents you can submit as proof of identity for IIFL account opening.
- PAN card
- Voter ID card
- Aadhaar card
Proof of Address for KYC:
Copy of any of the following documents needs to submit as proof of address.
- Voter ID Card
- Aadhar Card
- Ration Card
Proof of Bank details:
Any of the documents can submit as bank account proof.
- Statements of the bank account.
- Passbook front page.
Proof of Income For derivative trading:
If you are in need of derivative trading, any of the following documents can be submitted.
- Statements of the bank account.
- Income Tax Return.
- Salary slip or Form 16.
Benefits of Opening IIFL Securities Demat and Trading Account (India Infoline):
Following are the advantage of opening an account with IIFL Securities.
- Zero charges on account opening:
- Zero Demat Annual Maintenance Charges (AMC)for first-year:
- A single account for all investment options like equities, mutual funds, IPOs, derivatives, or commodities:
- Customized services for online portfolio management:
- Best research and investment recommendations to maximize your profits:
- Hassle-free trading platform for seamless trading:
IIFL Markets is the Demat and trading platform of IIFL securities. IIFL market is one of the highest-rated and most downloaded stock trading applications in the country. It has won many awards for its usefulness, simplicity, and online community development.
Key points need to consider for IIFL Securities:
Below are the 16 factors need to consider for any stockbroker selection.
Years of service:
IIFL Incorporated in the year 1996 and now covered 25 years of trust.
Current customer count:
Currently, IIFL is serving 4Million + happy Customers across the country.
Type of operation:
IIFL is a full-service broker, and they provide discount broking charges. Currently, they offer a free Demat & Trading Account with a new iServe pricing plan.
Rs. zero brokerage, for Delivery order for Lifetime for the IIFL securities Demat account.
INR 20 per order for Intraday, F&O, Currency & Commodity.
IIFL securities developed one of the best and highest rated trading app called, IIFL Markets. Which is easy to use and provides easy user navigation features.
Speed of app compares to other brokers:
IIFL Markets App is very easy to understand, intuitive & seamless. The speed of the app is competitive with other booking apps.
IIFL provides research-based calls for intraday, deliveries & derivative stock recommendation through the IIFL Market App, free of charge.
Account Opening Charges:
The IIFL securities Demat account opening is free of charge.
For the new users, IIFL offers Zero AMC charges for the 1st Year, and for the following year, AMC is Rs 450 per year. If it is BSDA, basic service Demat account, up to 2 lakhs holdings, AMC is free.
For more details and the current charges, visit the IIFL website, Demat Service Features page.
Leverage & Margin:
IIFL offers up to 10X Margins on Intraday trading, based on the stock and customer holdings.
Brokerage and DP charges:
For discount broking service,
- INR 0 per order brokerage, for delivery order for Lifetime.
- INR 20 per order for Intraday, F&O, Currency & Commodity.
As a DP charge, Irrespective of quantity, IIFL will charges ₹ 20 per debit instruction on all Demat account holders.
Auto square charges:
No extra charges for the auto square off orders at market closing hour. Brokerage, STT & Taxes Apply as a normal order.
Mutual fund & SIP charges:
Market closing timing in your platform:
IIFL securities offer the maximum trading time for its customers, trade closes at 3:30 PM.
Customer care support :
IIFL offers dedicated market and after-market hour customer care service in many regional languages over the phone, chat, and mail.
Bank to trading account transfer charges:
IIFL offers free transfer charges for the amount transfer from the trading account to the bank account if using UPI payments.
- INR 8 + GST, if using a payment gateway.
Account closing charges:
Account closing formalities are easy and it is free of cost.
Features of IIFL MARKET Demat and Trading App :
There are many features of IIFL security Demat and Trading that make it unique from other brokers’ trading applications. Below are a few of them.
- Free price alert notification for your favorite stocks.
- Lifetime free Guest user Login to the platform.
- Finance/Business News updates and Additional Company Information in the platform.
- Live Access to in-depth coverage & analysis of the wide range of companies, financial markets, & the current economy.
- One place notification center for all News, Price alert, IIFL Ideas
- Trading Tips and recommendations for equity, F&O, currency, and commodities.
- News, research, historical price charts, PnL, and Key Ratios of stocks.
- Advanced Technical Charting Draw, analyze, like MACD, RSI, Moving average.
How to close the IIFL Securities Demat and Trading account:
After opening the account, if you are not using the account, it is ideal to close the account to avoid paying AMC ( Annual maintenance charges ) to the broker. Demat Account closing process is also very simple.
Step 1: Clear all the dues, if any in your account.
Step 2: Sell or transfer all the shares in the Demat account into another account.
Step 3: Download the account closing application from the website.
Step 4: Fill in all the required fields in the form and sign it.
Step 5: Send the scan copy of the form to the customer care mail ID stating the reason for the account closing or Submit the original form to the nearest branch office, if requested.
In general, the account closing process will take about 7-10 working days. Get the acknowledgment during the form submission for future reference. Make sure that, during the account closing, clearly mention account closing for both the trading and the Demat account.
IIFL Demat Account Customer Care Number, for support:
IIFL has dedicated customer service in many of the regional languages to support the customer. You can reach IIFL customer care directly over the phone or over the mail or even through watts up chat. IIFL also provides dedicated relationship managers for the account holders. IIFL customer care also provides the after-market hour voice recording facility to record the customer’s grievance and they will answer it immediately on the next day on priority.
- IIFL Demat Account Customer Care Number: +91 22 4007 1000.
- IIFL Demat Account Customer Whats-up no :+91-9892691696
- IIFL Demat Account Customer Care mail ID: [email protected] or [email protected] for equity and currency for commodities [email protected].
For more details visit the link: https://www.indiainfoline.com/contactus
IIFL is one of the best broking firms that provides a single Demat and trading platform for equity, commodities, and Mutual funds. Moreover, an advanced and easy-to-use trading platform and the stock recommendation to the customer make it one of the best choices for newcomers to the share market.
If you would like to open an account with any other broking firm like angel broking, ICICI direct, Upstox, please visit the link below.
Thanks & Regards