Used IIFL for 3 months, my honest feedback - Note : My review is NOT based on brokerage amount but more on the overall experience.
IIFL is possibly the worst full service broker in town in terms of product experience, I have an account with Motilal as well as 5Paisa & previously used Kotak for my investing and trading activities. Their App as well as website is appalling, the entire experience is like using a Windows 98, it's that bad, guess they don't have a product team or if they have, then they seem to be some random SSC pass cyber cafe employees who don't understand where the brokerage industry is headed, their research is OK but I'd rather stick to my Motilal Oswal for research. MOSL beats IIFL hands down on all parameters, in fact my experience with 5Paisa is much more smooth and they have a pretty neat product doing absolute justice of being a discount broker. IIFL should stick to being NBFC or some other financial services company.
Ratings:
Brokerage - Very Poor Account Maintenance Fees - Very Poor Website Usability - Very Poor Research Capabilities - Below Average Customer Service - Very Poor Overall Experience - Very Poor
Note : My review is NOT based on brokerage amount but more on the overall experience.
IIFL is possibly the worst full service broker in town in terms of product experience, I have an account with Motilal as well as 5Paisa & previously used Kotak for my investing and trading activities.
Their App as well as website is appalling, the entire experience is like using a Windows 98, it's that bad, guess they don't have a product team or if they have, then they seem to be some random SSC pass cyber cafe employees who don't understand where the brokerage industry is headed, their research is OK but I'd rather stick to my Motilal Oswal for research.
MOSL beats IIFL hands down on all parameters, in fact my experience with 5Paisa is much more smooth and they have a pretty neat product doing absolute justice of being a discount broker.
IIFL should stick to being NBFC or some other financial services company.
Ratings:
Brokerage - Very Poor
Account Maintenance Fees - Very Poor
Website Usability - Very Poor
Research Capabilities - Below Average
Customer Service - Very Poor
Overall Experience - Very Poor