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Zerodha Vs IIFL – Compare Best Discount & Full Service Broker

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Zerodha Vs IIFL – Comparison

Both Zerodha and IIFL offer various facilities and trading products to their traders. When an individual trader is going to choose one of them, then he needs to understand & analyze them relatively.

It will lead him to a better decision making ability. Here we have compared Zerodha vs IIFL to highlight the areas where the investor needs to know & analyze more. 

Zerodha is the largest discount broker of India for providing the best online trading platform, high exposure in exchange for low brokerage, free mutual fund investment (using the platform) and a lot more.

Based on Bangalore it has 9lakhs customer base, 22 branch offices, 94 associate office, and 6 support-call & trade offices. 

India Infoline Finance Ltd (IIFL) is a full-service broking house with more than 4000 branches operating all over India. It provides trading in all segments such as equity, derivative, currency, commodity, mutual fund & IPO. 

Notable Points: 

Zerodha: 

  1. Offers direct mutual fund investment using their portal for free. 
  2. In association with IDFC, it provides 3-in-1 account facilities. 
  3. The trading terminal is best among all the other market competitors.
  4. It provides the best quality of customer support.
  5. Facilitate free fund transfer using UPI.
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IIFL:

  1. IIFL offers one of the best trading platforms.
  2. Paperless account opening facility.
  3. All three brokerage plans to choose from.
  4. Hidden charges are there. 
  5. Fund transfer charges are present.
  6. The minimum brokerage charge is there. 
Zerodha Vs IIFL
Zerodha Vs IIFL

Zerodha Vs IIFL Overall Company Details: 

Comparing Zerodha vs IIFL based on overall customer service we derived the below-mentioned details. Here we have compared both the brokers considering the type of organization, broker type, originated location, establishment year & name of the founder.

OverviewZerodhaIIFL
Organization TypePrivatePublic
Broker CategoryDiscount BrokerFull-Service Broker
Head OfficeBangalore, IndiaMumbai, India
Founded byNithin KamathNirmal Jain
Commencement Year20101995

Comparison on Customer Ratings:

Comparing Zerodha vs IIFL based on Customer Ratings we get this information. Here we can see that regarding experience & research work, IIFL is leading but in the remaining segments such as products, services, brokerage charges & platforms Zerodha is winning the race.

Customer RatingsZerodhaIIFL
On Experience5.7 out of 108.0 out of 10
On Products & Services8.5 out of 108.0 out of 10
On Brokerage Charges & Fees9.5 out of 106.3 out of 10
On Stock Research & Advisory4.0 out of 106.5 out of 10
On Trading Platforms9.0 out of 107.0 out of 10
On Overall Ratings7.4 out of 107.1 out of 10
On Star Ratings★★★★★★★★★☆

Comparison on AOC & AMC: 

Here we have compared Zerodha vs IIFL based on account opening charge & account maintenance charge. Here we can see from the below contrast that IIFL provides free AMC on trading accounts.

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Whereas, Zerodha provides free trading AMC and zero margin money criteria. 

Demat ServicesZerodhaIIFL
Depository ParticipantCDSLNSDL & CDSL
Charges  for Account Opening Rs.300Rs.1300
AMC on DematRs.300 per AnnumFree or Rs.300 per Annum
AMC on TradingFreeFree
Marginal MoneyZeroMinimum Rs.25,000
Offline to OnlineNoYes

Zerodha Vs IIFL Brokerage Charge:

Contrasting Zerodha vs IIFL based on Brokerage Charge we get the below details. Here we can see that IIFL offers a percentage based brokerage charge structure. While Zerodha has a very economical flat fee-based brokerage charge.

IIFL charges a minimum brokerage on executed orders but there is no such minimum brokerage in Zerodha. 

Brokerage Charge & FeesZerodha BrokerageIIFL Brokerage
Equity Delivery TradingZero0.50%
Equity Intraday TradingRs.200.05%
Commodity Options TradingRs.200.05%
Equity Futures TradingRs.200.05%
Equity Options TradingRs.20 per LotRs.100 per Lot or 1% of Premium
(Takes higher Amount)
Currency Futures TradingRs.200.05%
Currency Options TradingRs.20 per LotRs.100 per Lot or 1% of Premium
(Takes higher Amount)
Minimum BrokerageZeroRs.0.05 per Share
Demat AMC ChargesRs.300 per AnnumFree or Rs.300 per Annum
Trading AMC ChargesFreeFree
Margin MoneyZeroMinimum Rs.25,000

Comparison on Administrative Charge: 

In terms of Administrative transactional charge, we here compared Zerodha vs IIFL as below. We can see that both the broker share a similar charge structure. 

Other ChargesZerodhaIIFL
Transaction Charges0.00325% of Total Turnover0.00325% of Total Turnover
STT0.0126% of Total Turnover0.0126% of Total Turnover
SEBI Turnover Charges0.0002% of Total Turnover0.0002% of Total Turnover
Stamp DutyDepends on State (very minimal)Depends on State (very minimal)
GST18% of (Brokerage + Transaction Charges)18% of (Brokerage + Transaction Charges)

Comparison on Offers: 

Contrasting Zerodha & IIFL we get the below comparison on offers. We here can see that in terms of offers IIFL is a step ahead of Zerodha for offering more offers.

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OffersZerodhaIIFL
Free Demat Account
Free Trading Account
Discount on Brokerage
Trading Happy Hours
Flexible Brokerage Plans
1 Month Brokerage Free
Holiday Offers
Referral Offers
Zero Brokerage for Loss Making Trades

Comparison on Services Offered: 

Comparing Zerodha vs IIFL based on their service offering we derived the below comparison:

ServicesZerodhaIIFL
Demat Services
Trading Services
3 in 1 Account
Intraday Services
IPO Services
Stock Recommendations
Robo Advisory
PMS
Trading Institution
Trading ExposureMaximum 28xMaximum 10x

Zerodha Vs IIFL Research & Advisory: 

Contrasting Zerodha vs IIFL based on their research & advisory offering we received the below comparison.

Here we can see in the below table that IIFL offers a lot more advisory support, where Zerodha doesn’t provide any.

Research & AdvisoryZerodhaIIFL
Fundamental Reports
Research Reports
Company Reports
Annual Reports
Company Stock Review
Free Stock Tips
IPO Reports
Top Picks
Daily Market Review
Monthly Reports
Weekly Reports
Offline Advisory
Relationship Manager

Zerodha Vs IIFL Margin/ Exposure/ Leverage

Considering Zerodha vs IIFL based on product-wise leverage we get the below details. 

Exposure / LeverageZerodha MarginIIFL Margin
Equity DeliveryMaximum 20xMaximum 5x
Equity IntradayMaximum 28xMaximum 10x
Equity FuturesMaximum 15xMaximum 7x
Equity OptionsMaximum 8xMaximum 5x
Currency FuturesMaximum 12xMaximum 8x
Currency OptionsMaximum 8xMaximum 5x
CommoditiesMaximum 17xMaximum 8x

Comparison of Products: 

Comparing Zerodha vs IIFL based on their product offering we derived the below comparison.

We can see in this below comparison that Zerodha and IIFL both offer similar products to their customer except for Mutual fund, forex, & SIP which is offered by IIFL & not Zerodha. 

ProductsZerodhaIIFL
Equity Trading
Commodity Trading
Currency Trading
Options
Futures
Mutual Funds
Forex
Banking
SIP
Insurance

Zerodha Vs IIFL Trading Platforms: 

Because of the trading terminal offering of Zerodha vs  IIFL, we compared them as below. 

Trading PlatformsZerodha Trading
Platforms
IIFL Trading Platforms
Desktop Platform – Windows
Desktop Platform – Mac
Desktop Browser Platform
Mobile Site Platform
Android App Platform
iOS App Platform
Windows App Platform
Other Mobile OS Platform
Real-time Updates
Portfolio Details
Online MF Buy
News Flash
Research Reports
Easy Installation
Global Indices
Stock Tips
Personalized Advisory
Interactive Charts
Live Markets
SMS Alerts
Email Alerts
Multi-Account Management
Open Demat Account with IIFL
Zerodha vs IIFL – Open Demat Account with IIFL

Comparison on Customer Support: 

Comparing customer assistance, we here have compared Zerodha vs IIFL as below. We can see from the below chart that Zerodha doesn’t provide dedicated dealers, offline trading (as it is a discount broker). While IIFL doesn’t facilitate 24×7 support & offline trading. 

Customer SupportZerodhaIIFL
Dedicated Dealer
Offline Trading
Online Trading
24*7 Support
Support Number080-404020201800 3000 1155
Email Support
Chat Support
Toll-Free Number1800 3000 1155
BranchesZero120

Comparison of Grievances: 

Both these brokers provide multiple channels to their investors to reach them so that they can support the customers in a better way. Here we compared Zerodha vs IIFL based on their customer complaint handling in the below table. 

Complaints (Current Year)ZerodhaIIFL
BSE
Lodged
Resolved
120
117
145
122
NSE
Lodged
Resolved
89
85
214
212

Zerodha Call Back Request

Conclusion:

Finally, we can conclude that the IIFL (full-service broker) has a huge offering for its customers. But Zerodha (discount broker) offers lower charges to its customers.

Still, it should be kept in mind that individual investors should opt the broker between Zerodha and IIFL as per his need only.

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