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IIFL Securities Review
IIFL Securities is a large Indian stockbroker now legally named IIFL Capital Services Limited. It is not a forex broker, mainly serving Indian retail investors.
Min Deposit
N/A
Spreads From
Not applicable, pricing runs on brokerage commission, not currency spreads
Max Leverage
Set per product under SEBI margin trading rules, not one fixed retail ratio
Platforms
IIFL Capital web and mobile trading platforms
Pros
- Holds SEBI registrations as broker, merchant banker, and research analyst
- Member of the NSE, BSE, MCX, and NCDEX exchanges
- Distributes funds from dozens of asset managers and AIF providers
- Zero account opening fee and a free first year demat AMC are advertised
- Part of the IIFL Group, founded back in 1995
Cons
- SEBI fined it 11 lakh rupees in 2024 for client fund settlement failures
- Was found to run a fund based arrangement resembling client borrowing
- Fined again in March 2026 over ties to risky algo trading platforms
- Not a forex broker, so currency traders should look elsewhere
IIFL Securities is part of the IIFL Group, founded by Nirmal Jain in 1995. The company renamed itself IIFL Capital Services Limited in November 2024, to better reflect a business that now spans wealth management, investment banking, and stock broking, not just share trading.
It is a full service Indian stockbroker, not a forex broker, holding SEBI registrations as a stock broker, merchant banker, research analyst, and investment adviser, plus membership on the NSE, BSE, MCX, and NCDEX. It also distributes mutual funds, portfolio management schemes, and alternative investment funds from dozens of other providers.
SEBI fined the company 11 lakh rupees in August 2024 after an inspection found late settlement of client funds, a fund based arrangement that looked like borrowing money from 136 clients, and other compliance gaps. In March 2026, SEBI fined it again, 1 lakh rupees, over past ties to algorithmic trading platforms that hosted strategies promising guaranteed returns.
Max Leverage
Set per product under SEBI margin trading rules, not one fixed retail ratio
Spreads From
Not applicable, pricing runs on brokerage commission, not currency spreads
Platforms
Regulation, fund safety, track record
Spreads, execution, leverage
Platform quality, charting, features
Analysis, webinars, learning materials
Support quality, responsiveness
Mobile app quality, features
