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:
- Offers direct mutual fund investment using their portal for free.
- In association with IDFC, it provides 3-in-1 account facilities.
- The trading terminal is best among all the other market competitors.
- It provides the best quality of customer support.
- Facilitate free fund transfer using UPI.
IIFL:
- IIFL offers one of the best trading platforms.
- Paperless account opening facility.
- All three brokerage plans to choose from.
- Hidden charges are there.
- Fund transfer charges are present.
- The minimum brokerage charge is there.
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.
| Overview | Zerodha | IIFL |
| Organization Type | Private | Public |
| Broker Category | Discount Broker | Full-Service Broker |
| Head Office | Bangalore, India | Mumbai, India |
| Founded by | Nithin Kamath | Nirmal Jain |
| Commencement Year | 2010 | 1995 |
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 Ratings | Zerodha | IIFL |
| On Experience | 5.7 out of 10 | 8.0 out of 10 |
| On Products & Services | 8.5 out of 10 | 8.0 out of 10 |
| On Brokerage Charges & Fees | 9.5 out of 10 | 6.3 out of 10 |
| On Stock Research & Advisory | 4.0 out of 10 | 6.5 out of 10 |
| On Trading Platforms | 9.0 out of 10 | 7.0 out of 10 |
| On Overall Ratings | 7.4 out of 10 | 7.1 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.
Whereas, Zerodha provides free trading AMC and zero margin money criteria.
| Demat Services | Zerodha | IIFL |
| Depository Participant | CDSL | NSDL & CDSL |
| Charges for Account Opening | Rs.300 | Rs.1300 |
| AMC on Demat | Rs.300 per Annum | Free or Rs.300 per Annum |
| AMC on Trading | Free | Free |
| Marginal Money | Zero | Minimum Rs.25,000 |
| Offline to Online | No | Yes |
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 & Fees | Zerodha Brokerage | IIFL Brokerage |
| Equity Delivery Trading | Zero | 0.50% |
| Equity Intraday Trading | Rs.20 | 0.05% |
| Commodity Options Trading | Rs.20 | 0.05% |
| Equity Futures Trading | Rs.20 | 0.05% |
| Equity Options Trading | Rs.20 per Lot | Rs.100 per Lot or 1% of Premium (Takes higher Amount) |
| Currency Futures Trading | Rs.20 | 0.05% |
| Currency Options Trading | Rs.20 per Lot | Rs.100 per Lot or 1% of Premium (Takes higher Amount) |
| Minimum Brokerage | Zero | Rs.0.05 per Share |
| Demat AMC Charges | Rs.300 per Annum | Free or Rs.300 per Annum |
| Trading AMC Charges | Free | Free |
| Margin Money | Zero | Minimum 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 Charges | Zerodha | IIFL |
| Transaction Charges | 0.00325% of Total Turnover | 0.00325% of Total Turnover |
| STT | 0.0126% of Total Turnover | 0.0126% of Total Turnover |
| SEBI Turnover Charges | 0.0002% of Total Turnover | 0.0002% of Total Turnover |
| Stamp Duty | Depends on State (very minimal) | Depends on State (very minimal) |
| GST | 18% 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.
| Offers | Zerodha | IIFL |
| 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:
| Services | Zerodha | IIFL |
| Demat Services | ✔ | ✔ |
| Trading Services | ✔ | ✔ |
| 3 in 1 Account | ✖ | ✖ |
| Intraday Services | ✔ | ✔ |
| IPO Services | ✔ | ✔ |
| Stock Recommendations | ✖ | ✔ |
| Robo Advisory | ✖ | ✖ |
| PMS | ✖ | ✔ |
| Trading Institution | ✖ | ✖ |
| Trading Exposure | Maximum 28x | Maximum 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 & Advisory | Zerodha | IIFL |
| 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 / Leverage | Zerodha Margin | IIFL Margin |
| Equity Delivery | Maximum 20x | Maximum 5x |
| Equity Intraday | Maximum 28x | Maximum 10x |
| Equity Futures | Maximum 15x | Maximum 7x |
| Equity Options | Maximum 8x | Maximum 5x |
| Currency Futures | Maximum 12x | Maximum 8x |
| Currency Options | Maximum 8x | Maximum 5x |
| Commodities | Maximum 17x | Maximum 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.
| Products | Zerodha | IIFL |
| 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 Platforms | Zerodha 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 | ✔ | ✔ |
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 Support | Zerodha | IIFL |
| Dedicated Dealer | ✖ | ✔ |
| Offline Trading | ✖ | ✖ |
| Online Trading | ✔ | ✔ |
| 24*7 Support | ✔ | ✖ |
| Support Number | 080-40402020 | 18602673000 |
| Email Support | ✔ | ✔ |
| Chat Support | ✔ | ✔ |
| Toll-Free Number | ✖ | 18602673000 |
| Branches | Zero | 120 |
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) | Zerodha | IIFL | |
| BSE | Lodged Resolved | 120 117 | 145 122 |
| NSE | Lodged Resolved | 89 85 | 214 212 |
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.
