IIFL Rs 9.99 per executed order, just a gimmick?



Fellow Traders and Investors,

I guess you must have read the press coverage about how IIFL is reducing the brokerage to as low as just Rs 9.99 per executed order and how Mr Nirmal Jain has claimed that they can go even lower.

In Economic Times

In Live Mint 

Be very careful, because we think true to its tradition and reputation even this scheme from IIFL is conniving to say the least. Here are the reasons why:

  1. They will be providing you only web based platform, there won’t be any option to use the desktop or the mobile version. If you have to use the desktop or the mobile, you will have to shift to their traditional brokerage plan.
  2. They are having hidden charges in the name of exchange transaction charges. Check this post to know about how brokerages charge extra in the name of turnover charges. India Infoline charges 0.038% or Rs 380 per crore for futures, whereas ideally it should be only around 0.0021% or Rs 210 per crore. Similarly much higher for options (0.058%) and commodity (0.0041%).
  3. No option to place call n trade, you will have to move to their traditional plan if you want to do so.

Click here to see all  other details about India Infoline.

So instead of being penny wise and pound foolish, it is best to avoid IIFL and use one of the reputed discount brokerages out there. Use our website Comparebrokerages, to make the best choice.


Empowering Indian retail investors/traders,



Tempted by low brokerage advertisements?

Fellow Traders & Investors,

I was just seeing an advertisement on TV of a brokerage (Tradewalla) saying freedom from brokerage, only Rs 20/month or Rs 1950 unlimited/month.

Firstly, ensure that you don’t get carried away by just low cost advertisements, the many you are seeing on TV, google ads, newspapers and more. What you need to ensure is firstly that the brokerage is a financially viable entity, they have good technology backend, have the infrastructure to offer you support and also check for their client reviews, all of which you can see at CompareBrokerages.

Once you are done with your due diligence, ensure to check if the particular brokerage is charging low brokerage and has hidden charges in terms of transaction charges/turnover charges. Do check this blogpost.

We have made it easy for you, following is the list of all the brokerages who charge you less in terms of brokerage, but have big markups in terms of hidden costs. You might think what is the big difference between a transaction charge of 0.055% on options vs 0.08% on options, it could mean you would have to easily pay thousands of rupees extra every month.

1. Easy Tradez

2. Tradewalla

3. Trade Online Plus

4. Trade Smart Online

5. Compositedge

6. SAS Online

7. Wisdom Capital

8. Achiievers

9. Asthatrade

10. My Value Trade

11. Traders Khazana

12. Trade Jini


Empowering Indian retail investors/traders