Trading Account Opening Fees and Charges

How Does Online Trading Accounts Work?

Today, traders and investors simply create an online trading account. Investors are usually required to enlist the help of a professional stockbroker to carry out their buying and selling decisions for them. While there are exceptions, brokerage firms rarely offer free trading accounts as there are maintenance and opening charges.

Due to easy accessibility via the internet, many people have jumped onto the stock market bandwagon. Around 22.5 million people with a trading account in India were partaking in the stock market in 2016. To manage this global influx of new traders, each trader is allotted a unique trading ID, which helps to individually identify traders and their transactions.

Stock markets are open for certain hours during the day during which the market can be seen and trades can be carried out. These are known as trading hours. There are various strategies to employ when trading. These include buying and selling a share on the same day (intraday trading) or holding onto a share until it starts to trend and then immediately selling it at a profitable margin.

Trading Account Opening Charges

Similar to other full-service brokerage firms, IIFL does not offer free trading accounts. However, it charges nominal fees for opening and maintaining a trading account. Here are the general charges to run a trading account with IIFL.

Trading Account Fees and Charges

IIFL offers the Zero Brokerage Plan. Here’s how this plan works.

Trading with India Infoline

Without access to a quality trading platform, your trades can get tedious and difficult to manage, ultimately resulting in losses. On the other hand, using a good trading platform can improve your trading skills. India Infoline (IIFL) offers its users a host of advanced and innovative trading platforms that perform with state-of-the-art technology. When you open an online trading account on IIFL, you get access to the following cutting edge trading tools and platforms.

• TTWeb:

  a browser-friendly easy-to-operate trading portal that utilizes the internet. One can trade from the convenience of their home using TTWeb, with a quick login requiring a password and User ID.

• TTExe:

  a PC-friendly installable desktop application, accessing all segments, that is suited to fast and high-frequency trading. All features like advanced charts, trading tips, live streaming market movements, daily reports are available on TTExe and TTWeb.

• IIFL Markets:

  a smartphone app for Android and iOS that helps you trade using your smartphone. For a smartphone app, it has impressive features like trading tips, a customizable watchlist, price alerts, advanced technical charting, and access to live market updates. Mobile-based trading comprised 18.51% of all trades in the cash market in January 2020, while internet-based trading came in at 11.29%, reflecting how apps like IIFL Markets are a convenient trading solution for most.

• IIFL MF App:

  for those who prefer investing in Mutual Funds only, this app is dedicated to trading and tracking MFs alone. Other features include integration with the Share Market app, portfolio assessment, and sharing relevant industry news.

Features and Benefits of Using a Trading Account

Operating a trading account in India offers some special features and benefits to users. They are:

• Convenient Access:

  With a trading account in India, you are able to reach a variety of exchanges trading in commodities and securities. You have access to leading exchanges like Bombay Stock Exchange (BSE), National Stock Exchange (NSE), Multi Commodity Exchange (MCX) and National Commodity and Derivatives Exchange (NCDEX). You are spoilt for choice with access to all these trading options and generating wealth is a simple click away.

• Smart Tools:

  Online trading accounts offer benefits that open outcry system never could. These smart tools are daily reports, strategy builders, investment advisory services, reports, and advanced charts. Due to most of these tools being software-based, the scope for reporting-error is also low. Such reliable information allows for informed trading decisions.

• Customization:

  Another benefit of the online trading accounts of today is the ability to tailor them to suit your needs. Whether it is customizing the watchlists of stocks you want to track, creating individualized charts to gain insight into market movements, or setting stock market notification alerts to SMS-only, you can manage your trading accounts to fit your lifestyle without any friction.

• Flexibility:

  Another aspect of having a trading account in India is how easily accessible they are from different portals. Smartphones, desktops, and browser-based trading portals are typical offerings across brokerage firms today. Some firms go the extra mile and create apps dedicated to Mutual Funds, or smallcases only. This variety enables one to flexibly access the market without worrying about requiring a PC.

• Seamless Transitions:

  If there’s one feature that characterizes online trading accounts, it is how seamless transactions are thanks to it. Funds transfer within less than 24 hours allowing for more transactions. Advanced technology enables traders today to buy and sell stocks within the same day, popularly known as intraday trading.