IIFL Securities and HDFC SKY are two stockbrokers that investors often compare for brokerage charges, products, trading platforms, and account costs. IIFL Securities is listed as a Private Discount Broker , established in 1995 and headquartered in Mumbai, while HDFC SKY is listed as a Private Discount Broker , established in 2023 and headquartered in Mumbai.
This comparison reviews brokerage, Demat charges, product availability, platforms, features, support, ratings, and complaints. Use the side-by-side tables below to see whether IIFL Securities or HDFC SKY is a better fit for your investment style, platform preference, and budget.
IIFL Securities is listed as a Private Discount Broker established in 1995 with headquarters in Mumbai and founded by Nirmal Jain. The broker highlights access to equity delivery, equity intraday, equity futures, equity options, commodity futures, commodity options and currency futures through mobile app access and promotes features such as watchlists, real-time updates, portfolio tracking, online mutual fund access, research reports and stock tips. It follows a iValue Brokerage brokerage structure.
HDFC SKY is listed as a Private Discount Broker established in 2023 with headquarters in Mumbai and founded by Dhiraj Relli. It offers equity delivery, equity intraday, equity futures, equity options, commodity futures, commodity options and currency futures using mobile app access and web trading and supports traders with features such as watchlists, real-time updates, portfolio tracking, online mutual fund access, research reports and global indices tracking. Its brokerage model is structured as Standard.
Both brokers use technology-driven platforms to attract active traders and investors, but the better option depends on the combination of pricing, products, services, and support that matters most to you.
IIFL Securities vs HDFC SKY — A Comprehensive Company Overview
| Company Overview | IIFL Securities | HDFC SKY |
|---|---|---|
| Company Type | Private | Private |
| Broker Type | Discount Broker | Discount Broker |
| Headquarters | Mumbai | Mumbai |
| Founder | Nirmal Jain | Dhiraj Relli |
| Establishment Year | 1995 | 2023 |
| Brokerage Plan | iValue Brokerage | Standard |
Brokerage is the primary cost to compare when choosing a broker. Below is a segment-by-segment breakdown for IIFL Securities and HDFC SKY.
Equity delivery: This charge applies to buy-and-hold stock positions held beyond one trading session. IIFL Securities charges 0.25% of Transaction Value while HDFC SKY charges Rs.20 per Order or 0.01% (whichever is low).
Equity intraday: This charge applies to buy-sell positions closed within the same trading day. IIFL Securities charges 0.025% of Transaction Value while HDFC SKY charges Rs.20 per Order or 0.01% (whichever is low).
Equity futures: This charge applies to futures contracts on stocks and indices. IIFL Securities charges 0.25% of Transaction Value while HDFC SKY charges Rs.20 per Order or 0.01% (whichever is low).
Equity options: This charge applies to equity option contracts. IIFL Securities charges Rs.25 per Lot while HDFC SKY charges Rs.20 per Order.
Commodity futures: This charge covers commodities such as gold, silver, and crude oil. IIFL Securities charges 0.25% of Transaction Value while HDFC SKY charges Rs.20 per Order or 0.01% (whichever is low).
Commodity options: This charge applies to option contracts on commodity instruments. IIFL Securities charges Rs.25 per Lot while HDFC SKY charges Rs.20 per Order.
Currency futures: This charge allows participation in forex price movements on the exchange. IIFL Securities charges 0.25% of Transaction Value while HDFC SKY charges Rs.20 per Order or 0.01% (whichever is low).
Currency options: This charge enables traders to hedge or speculate on currency fluctuations. IIFL Securities charges Rs.25 per Lot while HDFC SKY charges Rs.20 per order.
IIFL Securities vs HDFC SKY — Detailed Brokerage Comparison
| Brokerage | IIFL Securities | HDFC SKY |
|---|---|---|
| Brokerage Plan | iValue Brokerage | Standard |
| Subscription Charges | Zero | Zero |
| Equity Delivery | 0.25% of Transaction Value | Rs.20 per Order or 0.01% (whichever is low) |
| Equity Intraday | 0.025% of Transaction Value | Rs.20 per Order or 0.01% (whichever is low) |
| Equity Future | 0.25% of Transaction Value | Rs.20 per Order or 0.01% (whichever is low) |
| Equity Option | Rs.25 per Lot | Rs.20 per Order |
| Commodity Future | 0.25% of Transaction Value | Rs.20 per Order or 0.01% (whichever is low) |
| Commodity Option | Rs.25 per Lot | Rs.20 per Order |
| Currency Future | 0.25% of Transaction Value | Rs.20 per Order or 0.01% (whichever is low) |
| Currency Option | Rs.25 per Lot | Rs.20 per order |
IIFL Securities provides mobile app access for order placement, portfolio tracking, and market monitoring. HDFC SKY provides mobile app access and web trading for its users.
Android app: IIFL Securities and HDFC SKY both list an Android trading app.
iOS app: IIFL Securities and HDFC SKY both list an iOS trading app.
Web trading platform: HDFC SKY lists a web trading platform, while IIFL Securities does not currently mention it.
Desktop trading terminal: Neither broker currently highlights a desktop trading terminal.
Algo trading: Neither broker currently highlights algo trading support.
Basket trading: HDFC SKY lists basket trading, while IIFL Securities does not currently mention it.
Foreign stocks platform: HDFC SKY lists foreign stocks access, while IIFL Securities does not currently mention it.
Mutual fund platform: IIFL Securities and HDFC SKY both list a mutual fund investment platform.
Digital gold platform: IIFL Securities lists digital gold investing, while HDFC SKY does not currently mention it.
Bonds platform: HDFC SKY lists a bonds investment platform, while IIFL Securities does not currently mention it.
IIFL Securities vs HDFC SKY — Complete Comparison of Trading Platforms
| Trading Platform | IIFL Securities | HDFC SKY |
|---|---|---|
| Android App | IIFL Securities Android App Link | HDFC SKY Android App Link |
| iOS App | IIFL Securities iOS App Link | HDFC SKY iOS App Link |
| Web Trading Platform | — | HDFC SKY Web Trading Link |
| Trading Terminal | NA | NA |
| Algo Trading Platform | NA | NA |
| Foreign Stocks Platform | NA | Available |
| Basket Trading Platform | NA | Available |
| Mutual Fund Platform | Available | Available |
| Digital Gold Platform | Available | NA |
| Bonds Platform | NA | Available |
IIFL Securities highlights trading features including watchlists, real-time updates, portfolio tracking, online mutual fund access, research reports and stock tips, while HDFC SKY promotes watchlists, real-time updates, portfolio tracking, online mutual fund access, research reports and global indices tracking. The table below shows the full feature set for both brokers side by side.
Wishlist: Monitor specific stocks or assets by adding them to a watchlist for close tracking. Both IIFL Securities and HDFC SKY offer this feature.
Real time updates: Get timely updates on market trends, stock prices, and other market data. Both IIFL Securities and HDFC SKY offer this feature.
Portfolio details: A detailed snapshot of all investments — stocks, bonds, and commodities — in one place. Both IIFL Securities and HDFC SKY offer this feature.
Online mf buy: Buy or sell mutual funds directly from the trading platform or mobile application. Both IIFL Securities and HDFC SKY offer this feature.
Research reports: A comprehensive overview of different stocks and sectors in the stock market. Both IIFL Securities and HDFC SKY offer this feature.
Global indices: Real-time data on leading global stock market indices. HDFC SKY offers this; IIFL Securities does not currently highlight it.
Customised recommendations: Personalised investment suggestions based on your objectives and behaviour patterns. HDFC SKY offers this; IIFL Securities does not currently highlight it.
Stock tips: Valuable tips on stocks to buy, hold, or sell based on market trends. Both IIFL Securities and HDFC SKY offer this feature.
Interactive charts: Visual price movement charts to help analyse when to buy or sell. Both IIFL Securities and HDFC SKY offer this feature.
Live market: Live updates on market movements and trends. Both IIFL Securities and HDFC SKY offer this feature.
Multi profile management: Manage multiple trading profiles from a single account. IIFL Securities offers this; HDFC SKY does not currently highlight it.
Secure platform: A secure trading environment with next-generation security controls. Both IIFL Securities and HDFC SKY offer this feature.
IIFL Securities vs HDFC SKY — Comprehensive Comparison of Trading Features
| Trading Feature | IIFL Securities | HDFC SKY |
|---|---|---|
| Wishlist | Yes | Yes |
| Real-Time Updates | Yes | Yes |
| Portfolio Details | Yes | Yes |
| Online MF Buy | Yes | Yes |
| Research Reports | Yes | Yes |
| Global Indices | No | Yes |
| Customised Recommendations | No | Yes |
| Stock Tips | Yes | Yes |
| Interactive Charts | Yes | Yes |
| Live Market | Yes | Yes |
| Multi Profile Management | Yes | No |
| Robust & Secure Platform | Yes | Yes |
Stockbrokers use promotional offers to attract and retain clients. Below is a side-by-side comparison of the offers currently listed by IIFL Securities and HDFC SKY.
Free account opening: IIFL Securities and HDFC SKY both list free account opening.
Free AMC: IIFL Securities and HDFC SKY both list free Demat AMC.
Free brokerage: Neither broker currently highlights free brokerage.
Flat brokerage: HDFC SKY lists flat brokerage pricing, while IIFL Securities does not currently mention it.
Flexible brokerage plans: IIFL Securities lists flexible brokerage plans, while HDFC SKY does not currently mention it.
Happy trading hours: Neither broker currently highlights happy trading hours.
Free delivery trading: Neither broker currently highlights free delivery trading.
Free intraday trading: Neither broker currently highlights free intraday trading.
Free F&O trading: Neither broker currently highlights free F&O trading.
Free research reports: IIFL Securities and HDFC SKY both list free research reports.
Free trading calls: IIFL Securities and HDFC SKY both list free trading calls.
Zero brokerage for loss trades: Neither broker currently highlights zero brokerage for loss-making trades.
Referral offers: IIFL Securities offers Upto Rs.1000 per Client while HDFC SKY offers Rs.200 per Client for referrals.
IIFL Securities vs HDFC SKY — Comparison of Latest Offers
| Offer | IIFL Securities | HDFC SKY |
|---|---|---|
| Free Account Opening | Yes | Yes |
| Free AMC | 1st Year Free | Yes, Limited |
| Free Brokerage | No | No |
| Flat Brokerage | No | Yes |
| Flexible Brokerage Plans | Yes | No |
| Happy Trading Hours | No | No |
| Free Delivery Trading | No | No |
| Free Intraday Trading | No | No |
| Free F&O Trading | No | No |
| Free Research Reports | Yes | Yes |
| Free Trading Calls | Yes | Yes |
| Referral Offers | Upto Rs.1000 per Client | Rs.200 per Client |
| Margin Funding / Pledging | Yes | Yes |
| Brokerage Cashback | No | No |
| Zero Brokerage for Loss-Making Trades | No | No |
Product availability determines whether a broker can support your preferred markets. IIFL Securities highlights equity delivery, equity intraday, equity futures, equity options, commodity futures, commodity options and currency futures, while HDFC SKY highlights equity delivery, equity intraday, equity futures, equity options, commodity futures, commodity options and currency futures.
The table below compares the full product lineup side by side across equity delivery, equity intraday, equity futures, equity options, commodity futures, commodity options, currency futures, currency options, mutual funds, digital gold, foreign stocks, banking services, insurance, corporate bonds, government bonds and bonds.
IIFL Securities vs HDFC SKY — Complete Comparison of Products
| Product | IIFL Securities | HDFC SKY |
|---|---|---|
| Equity Delivery | Yes | Yes |
| Equity Intraday | Yes | Yes |
| Equity Option | Yes | Yes |
| Equity Future | Yes | Yes |
| Commodity Option | Yes | Yes |
| Commodity Future | Yes | Yes |
| Currency Option | Yes | Yes |
| Currency Future | Yes | Yes |
| Foreign Stocks | No | Yes |
| Mutual Funds | Yes | Yes |
| Banking | No | Yes |
| Insurance | No | Yes |
| Corporate Bonds | No | Yes |
| Government Bonds | No | Yes |
| Digital Gold | Yes | No |
Demat services: IIFL Securities and HDFC SKY both list Demat services.
Trading services: IIFL Securities and HDFC SKY both list trading services.
Intraday services: IIFL Securities and HDFC SKY both list intraday trading services.
F&O services: IIFL Securities and HDFC SKY both list F&O services.
IPO services: IIFL Securities and HDFC SKY both list IPO services.
3-in-1 account: HDFC SKY lists 3-in-1 account support, while IIFL Securities does not currently mention it.
Stock research: IIFL Securities and HDFC SKY both list stock research.
Stock recommendations: IIFL Securities and HDFC SKY both list stock recommendations.
Trading education: Neither broker currently highlights trading education.
Share pledging: IIFL Securities and HDFC SKY both list share pledging.
PMS or PCG: IIFL Securities and HDFC SKY both list PMS or PCG support.
NRI services: IIFL Securities and HDFC SKY both list NRI services.
IIFL Securities provides Demat services, trading services, intraday trading, F&O trading, IPO access and stock research, while HDFC SKY offers Demat services, trading services, intraday trading, F&O trading, IPO access and 3-in-1 account support.
IIFL Securities vs HDFC SKY — In-Depth Comparison of Services
| Service | IIFL Securities | HDFC SKY |
|---|---|---|
| Demat Services | Yes | Yes |
| Trading Services | Yes | Yes |
| Intraday Services | Yes | Yes |
| F&O Services | Yes | Yes |
| IPO Services | Yes | Yes |
| 3-in-1 Account | No | Yes |
| Stock Research | Yes | Yes |
| Stock Recommendations | Yes | Yes |
| Trading Education | No | No |
| Share Pledging | Yes | Yes |
| PMS or PCG | Yes | Yes |
| NRI Services | Yes | Yes |
Stock advisory helps investors choose appropriate stocks through research reports, tips, and market reviews. The table below shows which advisory products are available from IIFL Securities and HDFC SKY.
IIFL Securities and HDFC SKY — Detailed Comparison of Advisory Services
| Advisory | IIFL Securities | HDFC SKY |
|---|---|---|
| Fundamental Reports | Yes | Yes, Chargeable |
| Research Reports | Yes | Yes, Chargeable |
| Company Reports | Yes | Yes |
| Annual Reports | Yes | Yes |
| IPO Reports | Yes | Yes |
| Technical Reports | Yes | Yes |
| Stock Tips | Yes | Yes, Chargeable |
| Daily Top Stock Picks | Yes | Yes, Chargeable |
| Daily Market Review | Yes | Yes |
| Monthly Review | Yes | Yes |
| Weekly Review | Yes | Yes |
| Relationship Manager | Yes | Yes, Chargeable |
| Robo Advisory | No | No |
Margin exposure allows traders to manage larger positions with less capital. Below is a comparison of the margin available from IIFL Securities and HDFC SKY across different segments.
IIFL Securities and HDFC SKY — Comprehensive Comparison of Trading Exposure
| Exposure | IIFL Securities | HDFC SKY |
|---|---|---|
| Equity Delivery | 1x | 1x |
| Equity Intraday | Upto 5x (Depends on Stocks) | Upto 5x (Depends on Stocks) |
| Equity F&O Carry Forward | 1x | 1x |
| Equity F&O Intraday | 1.3x | 1.3x |
| Commodity F&O Carry Forward | 1x | 1x |
| Commodity F&O Intraday | 1.3x | 1.3x |
| Currency F&O | 1x | 1x |
IIFL Securities and HDFC SKY both list a sub-broker program. IIFL Securities and HDFC SKY both list a partner program. IIFL Securities and HDFC SKY both list a referral program.
IIFL Securities vs HDFC SKY — Comparative Analysis of Programs
| Program | IIFL Securities | HDFC SKY |
|---|---|---|
| Sub-Broker Program | Yes | Yes, Limited |
| Partner Program | Yes | Yes |
| Referral Program | Yes | Yes |
IIFL Securities provides support through trading desk support, dedicated dealer assistance, call support, email support and website support. HDFC SKY provides support through trading desk support, dedicated dealer assistance, call support, email support and website support. IIFL Securities operates Available branches.
IIFL Securities and HDFC SKY — Comprehensive Comparison of Customer Support
| Support Channel | IIFL Securities | HDFC SKY |
|---|---|---|
| Trading Support | Available, Free | Available, Free |
| Dedicated Dealer | Available, Free | Available, Free |
| Call Support | 022-40071000 | 022-68494702 |
| Email Support | [email protected] | [email protected] |
| WhatsApp Support | NA | NA |
| Website Support | Website Link | Website Link |
| Facebook Support | Facebook Support Link | Facebook Support Link |
| Twitter / X Support | Twitter Support Link | Twitter Support Link |
| Telegram Support | Telegram Support Link | — |
| Branches / Offices | Available | NA |
Both brokers have been evaluated across key parameters to help investors make an informed comparison. IIFL Securities carries an overall rating of 9.28 / 10, while HDFC SKY carries an overall rating of 9.10 / 10.
IIFL Securities vs HDFC SKY — Ratings Comparison
| Rating Parameter | IIFL Securities | HDFC SKY |
|---|---|---|
| Overall Rating | 9.28 / 10 | 9.10 / 10 |
| Customer Support | 9.24 / 10 | 9.16 / 10 |
| Technology | 9.39 / 10 | 9.11 / 10 |
| Charges | 9.32 / 10 | 9.53 / 10 |
| Products & Services | 9.22 / 10 | 9.24 / 10 |
| Experience | 9.20 / 10 | 8.42 / 10 |
SEBI, BSE, and NSE regularly publish broker complaint data as part of investor protection oversight. The table below shows the complaint records for both brokers.
IIFL Securities & HDFC SKY — Comparison of Customer Complaints
| Complaint Metric | IIFL Securities | HDFC SKY |
|---|---|---|
| Total Complaints Lodged | 240 | 6 |
| Total Complaints Resolved | 201 | 6 |
| % of Resolved Complaints | 83.75% | 100% |
| Non-Actionable Complaints | 24 | 0 |
| % of Non-Actionable Complaints | 10.00% | 0% |
Transaction charges are levied by the stockbroker for executing each trade. Below is a segment-wise comparison for IIFL Securities and HDFC SKY.
IIFL Securities vs HDFC SKY — Detailed Comparison of Transaction Charges
| Transaction Charges | IIFL Securities | HDFC SKY |
|---|---|---|
| Equity Delivery | 0.00350% (NSE) & 0.00375% (BSE) | |
| Equity Intraday | 0.00350% (NSE) & 0.00375% (BSE) | |
| Equity Future | 0.0019% (NSE & BSE) | |
| Equity Option | 0.053% (on premium) | |
| Commodity Future | 0.0021% (Non-Agri) / 0.006% (Agri) / 0.0005% (Special) | |
| Commodity Option | 0.05% (Non Agri) | |
| Currency Future | 0.0009% (NSE) & 0.00022% (BSE) | |
| Currency Option | 0.035% (NSE) & 0.001% (BSE) |
Pledge creation charges apply when traders borrow against their held securities. Pledge invocation charges apply if the pledged shares are sold due to a shortfall. Margin trading interest is the rate charged on borrowed funds.
IIFL Securities & HDFC SKY — Comprehensive Comparison of Pledge Charges
| Pledge Charge | IIFL Securities | HDFC SKY |
|---|---|---|
| Pledge Creation Charges | Rs.20 per Request | |
| Pledge Invocation Charges | Rs.20 per Request | |
| Margin Trading Interest | 0.075% per day |
Beyond brokerage, several statutory and operational charges apply. These include SEBI turnover fees, DP charges, GST, account closure, reactivation, dematerialisation, and call & trade charges.
IIFL Securities and HDFC SKY — Detailed Comparison of Hidden / Other Charges
| Charge | IIFL Securities | HDFC SKY |
|---|---|---|
| SEBI Turnover Charges | Rs.10/ Crore (All Segment) | |
| DP Charges | Rs.20 per Scrip only on Sell | |
| GST | 18% on (Brokerage + SEBI + Transaction charges) | |
| Account Closure Charges | Free | |
| Reactivation Charges | Free | |
| Dematerialisation Charges | Rs.50 per Certificate | |
| Call & Trade Charges | Rs.20 per Call |
IIFL Securities lists account opening charges of Free and Demat AMC of Rs.250 per Year (1st Year Free). HDFC SKY lists account opening charges of Free and Demat AMC of Rs.300 per Year (1st Year Free).
IIFL Securities vs HDFC SKY — Detailed Comparison of Demat Charges
| Demat Charges | IIFL Securities | HDFC SKY |
|---|---|---|
| Account Opening Charges | Free | Free |
| Annual Maintenance Charges (AMC) | Rs.250 per Year (1st Year Free) | Rs.300 per Year (1st Year Free) |
Securities Transaction Tax (STT) and Commodity Transaction Tax (CTT) are government levies — the same for all brokers in India. These are shown below for reference.
IIFL Securities vs HDFC SKY — Comparative Analysis of STT and CTT Charges
| STT & CTT | IIFL Securities | HDFC SKY |
|---|---|---|
| Equity Delivery | 0.1% on buy & sell | |
| Equity Intraday | 0.025% on sell | |
| Equity Future | 0.0125% on sell | |
| Equity Option | 0.0625% on sell (on premium) | |
| Commodity Future | 0.01% on sell (Non-Agri) | |
| Commodity Option | 0.05% on sell | |
| Currency Future | Nil | |
| Currency Option | Nil |
Stamp duty is a government tax charged when the broker issues, sells, or transfers a security. It is collected at the end of each trading day.
IIFL Securities and HDFC SKY — Comparison of Stamp Duty Charges
| Stamp Duty | IIFL Securities | HDFC SKY |
|---|---|---|
| Equity Delivery | 0.015% on buy | |
| Equity Intraday | 0.003% on buy | |
| Equity Future | 0.002% on buy | |
| Equity Option | 0.003% on buy | |
| Commodity Future | 0.002% on buy | |
| Commodity Option | 0.003% on buy | |
| Currency Future | 0.0001% on buy | |
| Currency Option | 0.0001% on buy |