IIFL Securities and Nuvama 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 Nuvama is listed as a Private Full Service , established in 2008 and headquartered in Ahmedabad.
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 Nuvama 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.
Nuvama is listed as a Private Full Service established in 2008 with headquarters in Ahmedabad and founded by Rashesh Shah. It offers equity delivery, equity intraday, equity futures, equity options, commodity futures, commodity options and currency futures using mobile app access, web trading, desktop terminal access and algo trading support 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 Lite Plan.
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 Nuvama — A Comprehensive Company Overview
| Company Overview | IIFL Securities | Nuvama |
|---|---|---|
| Company Type | Private | Private |
| Broker Type | Discount Broker | Full Service |
| Headquarters | Mumbai | Ahmedabad |
| Founder | Nirmal Jain | Rashesh Shah |
| Establishment Year | 1995 | 2008 |
| Brokerage Plan | iValue Brokerage | Lite Plan |
Brokerage is the primary cost to compare when choosing a broker. Below is a segment-by-segment breakdown for IIFL Securities and Nuvama.
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 Nuvama charges Rs.10 per Trade 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 Nuvama charges Rs.10 per Trade 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 Nuvama charges Rs.10 per Trade.
Equity options: This charge applies to equity option contracts. IIFL Securities charges Rs.25 per Lot while Nuvama charges Rs.10 per Trade.
Commodity futures: This charge covers commodities such as gold, silver, and crude oil. IIFL Securities charges 0.25% of Transaction Value . Nuvama does not currently list a charge for this segment.
Commodity options: This charge applies to option contracts on commodity instruments. IIFL Securities charges Rs.25 per Lot . Nuvama does not currently list a charge for this segment.
Currency futures: This charge allows participation in forex price movements on the exchange. IIFL Securities charges 0.25% of Transaction Value while Nuvama charges Rs.10 executed order.
Currency options: This charge enables traders to hedge or speculate on currency fluctuations. IIFL Securities charges Rs.25 per Lot while Nuvama charges Rs.10 per Trade.
IIFL Securities vs Nuvama — Detailed Brokerage Comparison
| Brokerage | IIFL Securities | Nuvama |
|---|---|---|
| Brokerage Plan | iValue Brokerage | Lite Plan |
| Subscription Charges | Zero | Zero |
| Equity Delivery | 0.25% of Transaction Value | Rs.10 per Trade or 0.01% (whichever is low) |
| Equity Intraday | 0.025% of Transaction Value | Rs.10 per Trade or 0.01% (whichever is Low) |
| Equity Future | 0.25% of Transaction Value | Rs.10 per Trade |
| Equity Option | Rs.25 per Lot | Rs.10 per Trade |
| Commodity Future | 0.25% of Transaction Value | NA |
| Commodity Option | Rs.25 per Lot | NA |
| Currency Future | 0.25% of Transaction Value | Rs.10 executed order |
| Currency Option | Rs.25 per Lot | Rs.10 per Trade |
IIFL Securities provides mobile app access for order placement, portfolio tracking, and market monitoring. Nuvama provides mobile app access, web trading, desktop terminal access and algo trading support for its users.
Android app: IIFL Securities and Nuvama both list an Android trading app.
iOS app: IIFL Securities and Nuvama both list an iOS trading app.
Web trading platform: Nuvama lists a web trading platform, while IIFL Securities does not currently mention it.
Desktop trading terminal: Nuvama lists a desktop trading terminal, while IIFL Securities does not currently mention it.
Algo trading: Nuvama lists algo trading support, while IIFL Securities does not currently mention it.
Basket trading: Neither broker currently highlights basket trading.
Foreign stocks platform: Neither broker currently highlights foreign stocks access.
Mutual fund platform: IIFL Securities and Nuvama both list a mutual fund investment platform.
Digital gold platform: IIFL Securities lists digital gold investing, while Nuvama does not currently mention it.
Bonds platform: Neither broker currently highlights a bonds investment platform.
IIFL Securities vs Nuvama — Complete Comparison of Trading Platforms
| Trading Platform | IIFL Securities | Nuvama |
|---|---|---|
| Android App | IIFL Securities Android App Link | Nuvama Android App Link |
| iOS App | IIFL Securities iOS App Link | Nuvama iOS App Link |
| Web Trading Platform | — | Nuvama Web Trading Link |
| Trading Terminal | NA | Available |
| Algo Trading Platform | NA | Available |
| Foreign Stocks Platform | NA | NA |
| Basket Trading Platform | NA | NA |
| Mutual Fund Platform | Available | Available |
| Digital Gold Platform | Available | NA |
| Bonds Platform | NA | NA |
IIFL Securities highlights trading features including watchlists, real-time updates, portfolio tracking, online mutual fund access, research reports and stock tips, while Nuvama 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 Nuvama offer this feature.
Real time updates: Get timely updates on market trends, stock prices, and other market data. Both IIFL Securities and Nuvama offer this feature.
Portfolio details: A detailed snapshot of all investments — stocks, bonds, and commodities — in one place. Both IIFL Securities and Nuvama offer this feature.
Online mf buy: Buy or sell mutual funds directly from the trading platform or mobile application. Both IIFL Securities and Nuvama offer this feature.
Research reports: A comprehensive overview of different stocks and sectors in the stock market. Both IIFL Securities and Nuvama offer this feature.
Global indices: Real-time data on leading global stock market indices. Nuvama offers this; IIFL Securities does not currently highlight it.
Customised recommendations: Personalised investment suggestions based on your objectives and behaviour patterns. Nuvama 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 Nuvama offer this feature.
Interactive charts: Visual price movement charts to help analyse when to buy or sell. Both IIFL Securities and Nuvama offer this feature.
Live market: Live updates on market movements and trends. Both IIFL Securities and Nuvama offer this feature.
Multi profile management: Manage multiple trading profiles from a single account. IIFL Securities offers this; Nuvama does not currently highlight it.
Secure platform: A secure trading environment with next-generation security controls. Both IIFL Securities and Nuvama offer this feature.
IIFL Securities vs Nuvama — Comprehensive Comparison of Trading Features
| Trading Feature | IIFL Securities | Nuvama |
|---|---|---|
| Wishlist | Yes | Yes |
| Real-Time Updates | Yes | Yes |
| Portfolio Details | Yes | Yes |
| Online MF Buy | Yes | Yes |
| Research Reports | Yes | Yes, chargeable |
| 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 Nuvama.
Free account opening: IIFL Securities and Nuvama both list free account opening.
Free AMC: IIFL Securities and Nuvama both list free Demat AMC.
Free brokerage: Neither broker currently highlights free brokerage.
Flat brokerage: Nuvama lists flat brokerage pricing, while IIFL Securities does not currently mention it.
Flexible brokerage plans: IIFL Securities and Nuvama both list flexible brokerage plans.
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 Nuvama both list free research reports.
Free trading calls: IIFL Securities lists free trading calls, while Nuvama does not currently mention it.
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 Nuvama offers Upto Rs.1,000 per referral for referrals.
IIFL Securities vs Nuvama — Comparison of Latest Offers
| Offer | IIFL Securities | Nuvama |
|---|---|---|
| Free Account Opening | Yes | Yes |
| Free AMC | 1st Year Free | Yes |
| Free Brokerage | No | No |
| Flat Brokerage | No | Yes, Limited |
| Flexible Brokerage Plans | Yes | Yes |
| 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 | No |
| Referral Offers | Upto Rs.1000 per Client | Upto Rs.1,000 per referral |
| 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 Nuvama 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 and insurance.
IIFL Securities vs Nuvama — Complete Comparison of Products
| Product | IIFL Securities | Nuvama |
|---|---|---|
| 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 | No |
| Mutual Funds | Yes | Yes |
| Banking | No | No |
| Insurance | No | Yes |
| Corporate Bonds | No | No |
| Government Bonds | No | No |
| Digital Gold | Yes | No |
Demat services: IIFL Securities and Nuvama both list Demat services.
Trading services: IIFL Securities and Nuvama both list trading services.
Intraday services: IIFL Securities and Nuvama both list intraday trading services.
F&O services: IIFL Securities and Nuvama both list F&O services.
IPO services: IIFL Securities and Nuvama both list IPO services.
3-in-1 account: Neither broker currently highlights 3-in-1 account support.
Stock research: IIFL Securities and Nuvama both list stock research.
Stock recommendations: IIFL Securities and Nuvama both list stock recommendations.
Trading education: Nuvama lists trading education, while IIFL Securities does not currently mention it.
Share pledging: IIFL Securities and Nuvama both list share pledging.
PMS or PCG: IIFL Securities lists PMS or PCG support, while Nuvama does not currently mention it.
NRI services: IIFL Securities lists NRI services, while Nuvama does not currently mention it.
IIFL Securities provides Demat services, trading services, intraday trading, F&O trading, IPO access and stock research, while Nuvama offers Demat services, trading services, intraday trading, F&O trading, IPO access and stock research.
IIFL Securities vs Nuvama — In-Depth Comparison of Services
| Service | IIFL Securities | Nuvama |
|---|---|---|
| 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 | No |
| Stock Research | Yes | Yes |
| Stock Recommendations | Yes | Yes |
| Trading Education | No | Yes, Investology |
| Share Pledging | Yes | Yes |
| PMS or PCG | Yes | No |
| NRI Services | Yes | No |
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 Nuvama.
IIFL Securities and Nuvama — Detailed Comparison of Advisory Services
| Advisory | IIFL Securities | Nuvama |
|---|---|---|
| Fundamental Reports | Yes | Yes |
| 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 |
| Daily Top Stock Picks | Yes | Yes |
| Daily Market Review | Yes | Yes |
| Monthly Review | Yes | Yes |
| Weekly Review | Yes | Yes |
| Relationship Manager | Yes | Yes |
| 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 Nuvama across different segments.
IIFL Securities and Nuvama — Comprehensive Comparison of Trading Exposure
| Exposure | IIFL Securities | Nuvama |
|---|---|---|
| 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 Nuvama both list a sub-broker program. IIFL Securities and Nuvama both list a partner program. IIFL Securities and Nuvama both list a referral program.
IIFL Securities vs Nuvama — Comparative Analysis of Programs
| Program | IIFL Securities | Nuvama |
|---|---|---|
| Sub-Broker Program | Yes | Yes |
| 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. Nuvama provides support through trading desk support, dedicated dealer assistance, call support, email support and website support. IIFL Securities operates Available branches.
IIFL Securities and Nuvama — Comprehensive Comparison of Customer Support
| Support Channel | IIFL Securities | Nuvama |
|---|---|---|
| Trading Support | Available, Free | Available, Chargeable |
| Dedicated Dealer | Available, Free | Available, Chargeable |
| Call Support | 022-40071000 | 022-66203030 |
| 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 Nuvama carries an overall rating of 8.41 / 10.
IIFL Securities vs Nuvama — Ratings Comparison
| Rating Parameter | IIFL Securities | Nuvama |
|---|---|---|
| Overall Rating | 9.28 / 10 | 8.41 / 10 |
| Customer Support | 9.24 / 10 | 8.38 / 10 |
| Technology | 9.39 / 10 | 8.51 / 10 |
| Charges | 9.32 / 10 | 8.45 / 10 |
| Products & Services | 9.22 / 10 | 8.36 / 10 |
| Experience | 9.20 / 10 | 8.34 / 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 & Nuvama — Comparison of Customer Complaints
| Complaint Metric | IIFL Securities | Nuvama |
|---|---|---|
| Total Complaints Lodged | 240 | 117 |
| Total Complaints Resolved | 201 | 102 |
| % of Resolved Complaints | 83.75% | 87.18% |
| Non-Actionable Complaints | 24 | 7 |
| % of Non-Actionable Complaints | 10.00% | 5.98% |
Transaction charges are levied by the stockbroker for executing each trade. Below is a segment-wise comparison for IIFL Securities and Nuvama.
IIFL Securities vs Nuvama — Detailed Comparison of Transaction Charges
| Transaction Charges | IIFL Securities | Nuvama |
|---|---|---|
| Equity Delivery | 0.00335% (NSE) & As per Stock (BSE) | |
| Equity Intraday | 0.00335% (NSE) & As per Stock (BSE) | |
| Equity Future | 0.002% (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 | NA | |
| Currency Option | NA |
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 & Nuvama — Comprehensive Comparison of Pledge Charges
| Pledge Charge | IIFL Securities | Nuvama |
|---|---|---|
| Pledge Creation Charges | Rs.7 per Request | |
| Pledge Invocation Charges | Rs.7 per Request | |
| Margin Trading Interest | 0.05% 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 Nuvama — Detailed Comparison of Hidden / Other Charges
| Charge | IIFL Securities | Nuvama |
|---|---|---|
| SEBI Turnover Charges | Rs.10/ Crore (All Segment) | |
| DP Charges | Rs.20 per Scrip | |
| GST | 18% on (Brokerage + SEBI + Transaction charges) | |
| Account Closure Charges | Rs.150 | |
| Reactivation Charges | Rs.100 | |
| Dematerialisation Charges | Rs.18 per Certificate | |
| Call & Trade Charges | Rs.20 per Trade |
IIFL Securities lists account opening charges of Free and Demat AMC of Rs.250 per Year (1st Year Free). Nuvama lists account opening charges of Free and Demat AMC of Rs.500 (Free for first year).
IIFL Securities vs Nuvama — Detailed Comparison of Demat Charges
| Demat Charges | IIFL Securities | Nuvama |
|---|---|---|
| Account Opening Charges | Free | Free |
| Annual Maintenance Charges (AMC) | Rs.250 per Year (1st Year Free) | Rs.500 (Free for first year) |
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 Nuvama — Comparative Analysis of STT and CTT Charges
| STT & CTT | IIFL Securities | Nuvama |
|---|---|---|
| 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 Nuvama — Comparison of Stamp Duty Charges
| Stamp Duty | IIFL Securities | Nuvama |
|---|---|---|
| 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 |