Open IIFL Securities Account (IIFL Securities Account Opening Process, Documents and Charges)

IIFL Securities Account Opening Charges 2023

IIFL Securities account opening charges are Rs 0 (Free) for a trading account and Rs 0 for Demat account. IIFL Securities charge Rs 250 (Free for 1st year) AMC for Demat account.

1. 1. How can I open an account in IIFL?

   You can open a trading and Demat account with IIFL either through online mode or offline mode.

   Steps to open IIFL account online:

   1. Visit www.indiainfoline.com and click on open a trading account or visit the IIFL Insta E-registration site and enter basic details.
   2. You will receive a one-time password (OTP) on the mobile number and a link on your registered email id.
   3. You need to enter the OTP received on your registered email id.
   4. After verifying the OTP; you need to fill the online Account Opening Form with the required personal details and the segment in which you would like to trade.
   5. On submission of the form online, an RM will contact you for the documentation.
   6. Upload the scanned copies of your PAN card/Aadhar card/Passport and Photographs. The bank statement may be required if you choose to trade in the derivatives segment.
   7. Once the documents are uploaded, the broker will conduct verification at their end.
   8. On successful completion of verified, the trading and Demat account is opened generally within 24 hours.

   Note: The account opening form and documents are required to be sent to the head office for record purpose.

   Steps to open IIFL account offline:

   1. For offline account opening you can either give a missed call on 08066719101 or request for a call by providing your mobile number and email here or visit the nearest branch of IIFL.
   2. An RM will connect with you or may visit you personally to take you through the entire account opening process.

    

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2. 2. What type of accounts are offered by IIFL?

   IIFL offers broking and depository (2-in-1 account) services to its customers to open a trading and Demat account. IIFL does not provide banking services to its clients as it does not have a banking license.

   You can open an account with IIFL to trade in the below segments:

   • Cash Equity
   • Equity Derivatives
   • Currency Derivatives
   • Commodity
   • Debt

   IIFL also offers Mutual Fund and IPO services.

    

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3. 3. Is IIFL a discount broker?

   IIFL is a full-service broker offering broking, depository, and advisory services to its clients. IIFL is a SEBI registered broker and a member of BSE, NSE, MCX, and NCDEX providing investment options across various range of products like Equity, Derivatives, Currency, Commodity, Mutual Funds, IPO, Bonds, etc.

   5paisa is a discount brokerage business promoted by IIFL promoters. Though it uses IIFL infrastructure, it works as a separate business entity. 5paisa.com offers low-cost online trading services in equity, derivatives, currency, and commodity.

   Read Discount Broker vs Full-Service Broker in India for more details.

    

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4. 4. How to close India Infoline demat account?

   If you want to trade in shares, you need trading and demat account. IIFL offers both the account to its customers. It's advisable to have the demat and trading both the account with the same entity to avoid any settlement issue. If the demat account is not in use, you should close the account as it attracts annual fee and maintenance fees. If you have any security lying in that account, it's a great idea to transfer in other demat accounts which you are using it actively.

   Steps to close the demat account

   1. First, you have to submit the application. You can download it from the DP website and print it. Or click here to download the form.
   2. Fill all the basic information like client ID, DP ID, name, address and the reason for closing the account.
   3. All account holders should sign the form.
   4. Submit the form to the nearest branch or courier it to the address given in the form. After submitting the form, it will take about 7 to 10 days to process the request.

   Please Note:

   1. The account should be clear. If there is any debit or credit balance on the account, they have to be settled before requesting the account closure. Moreover, if you start the process without settling the negative balance, DP can reject the request of closing the account.
   2. If your account contains any shares they should be transferred in other demat accounts
   3. Submit the unused delivery instruction booklet slip back to the DP

    

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5. 5. How to close IIFL Demat account online?

   IIFL Demat account closure process is completely offline wherein you have to fill and submit a physical form. IIFL does not allow/offer online closing of the Demat account.

   It is advisable to close your Demat account if you're not using it, to avoid paying AMC and other charges.

   Steps to close the Demat account:

   1. Download the account closure form from here by selecting the right option.
   2. Fill all the required information like client ID, DP ID, name, address, and the reason for closing the account.
   3. All account holders must sign the form.
   4. Submit the form to the nearest branch or post it to the address provided in the form. It takes about 7 to 10 days to process the account closure request.

   Key Points to remember:

   • Clear all your pending dues as the company may reject the account closure request.
   • Transfer any securities held in the IIFL Demat to another Demat account.
   • Submit the unused DIS (delivery instruction slip) to the DP.

    

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6. 6. Which type of company is IIFL?

   IIFL Securities (formerly India Infoline) is a stock broking company offering its services to residents and non-residents.

   IIFL Securities is a full-service broker offering trading and investment services in equity, commodity, currency, and derivatives. It also offers various other financial products like Mutual Funds, IPOs, Bonds, Insurance, Loans, and FDs in addition to research and advisory services to its customers

    

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7. 7. How to trade online with IIFL?

   The first step for trading in IIFL is opening an online account with IIFL. You can trade either through the IIFL Markets Mobile App, IIFL Web, or download IIFL Trade terminal software for desktop.

   Steps for doing online trading with IIFL:

   1. Loginto your IIFL account.
   2. Add funds to the trading account.
   3. Search the stock you want to trade.
   4. Click on the BUY/SELL
   5. Provide order details like quantity, stop loss, order type (Intraday or Delivery)
   6. Check order details and place the order.

   Note:

   1. Ensure to have sufficient funds/margin in your IIFL trading account for purchasing a stock.
   2. You should have holdings in the Demat account to place a delivery sell order.

    

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8. 8. How to open an account in IIFL?

   IIFL is a leading full-service stock broker. IIFL offers instant online account openingthrough which you could open IIFL account in just 15 minutes if your Aadhar is linked to your current phone number to eSign the document using OTP.

   Steps for opening an IIFL account online:

   1. Visit the IIFL Securities website
   2. Enter the phone number and email id.
   3. You will receive an OTP on your mobile number and a link on your registered email id.
   4. Enter the OTP and verify your mobile number and email id.
   5. After OTP verification is successful, fill online account opening form.
   6. eSign the document by entering your Aadhar Number and OTP.
   7. Submit the account opening application.
   8. Account opened in a few minutes once documents are validated by IIFL.
   9. Receive a welcome email with login id/password to trade.

    

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