IIFL Securities and SBI Securities 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 SBI Securities is listed as a Public Discount Broker , established in Arun Mehta 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 SBI Securities 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.
SBI Securities is listed as a Public Discount Broker established in Arun Mehta with headquarters in Mumbai and founded by Arun Mehta. It offers equity delivery, equity intraday, equity futures, equity options, commodity futures, commodity options and currency futures using mobile app access, web trading and desktop terminal access and supports traders with features such as watchlists, real-time updates, portfolio tracking, online mutual fund access, research reports and stock tips. Its brokerage model is structured as Standard 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 SBI Securities — A Comprehensive Company Overview
| Company Overview | IIFL Securities | SBI Securities |
|---|---|---|
| Company Type | Private | Public |
| Broker Type | Discount Broker | Discount Broker |
| Headquarters | Mumbai | Mumbai |
| Founder | Nirmal Jain | Arun Mehta |
| Establishment Year | 1995 | Arun Mehta |
| Brokerage Plan | iValue Brokerage | Standard Plan |
Brokerage is the primary cost to compare when choosing a broker. Below is a segment-by-segment breakdown for IIFL Securities and SBI Securities.
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 SBI Securities charges 0.50% of Transaction Value.
Equity intraday: This charge applies to buy-sell positions closed within the same trading day. IIFL Securities charges 0.025% of Transaction Value while SBI Securities charges 0.075% of Transaction Value.
Equity futures: This charge applies to futures contracts on stocks and indices. IIFL Securities charges 0.25% of Transaction Value while SBI Securities charges 0.05% of Transaction Value.
Equity options: This charge applies to equity option contracts. IIFL Securities charges Rs.25 per Lot while SBI Securities charges Rs.50 to Rs.100 per lot.
Commodity futures: This charge covers commodities such as gold, silver, and crude oil. IIFL Securities charges 0.25% of Transaction Value while SBI Securities charges 0.05% of Transaction Value.
Commodity options: This charge applies to option contracts on commodity instruments. IIFL Securities charges Rs.25 per Lot while SBI Securities charges Rs.50 to Rs.100 per lot.
Currency futures: This charge allows participation in forex price movements on the exchange. IIFL Securities charges 0.25% of Transaction Value while SBI Securities charges 0.05% of Transaction Value.
Currency options: This charge enables traders to hedge or speculate on currency fluctuations. IIFL Securities charges Rs.25 per Lot while SBI Securities charges Rs.20 to Rs.30 per lot.
IIFL Securities vs SBI Securities — Detailed Brokerage Comparison
| Brokerage | IIFL Securities | SBI Securities |
|---|---|---|
| Brokerage Plan | iValue Brokerage | Standard Plan |
| Subscription Charges | Zero | Zero |
| Equity Delivery | 0.25% of Transaction Value | 0.50% of Transaction Value |
| Equity Intraday | 0.025% of Transaction Value | 0.075% of Transaction Value |
| Equity Future | 0.25% of Transaction Value | 0.05% of Transaction Value |
| Equity Option | Rs.25 per Lot | Rs.50 to Rs.100 per lot |
| Commodity Future | 0.25% of Transaction Value | 0.05% of Transaction Value |
| Commodity Option | Rs.25 per Lot | Rs.50 to Rs.100 per lot |
| Currency Future | 0.25% of Transaction Value | 0.05% of Transaction Value |
| Currency Option | Rs.25 per Lot | Rs.20 to Rs.30 per lot |
IIFL Securities provides mobile app access for order placement, portfolio tracking, and market monitoring. SBI Securities provides mobile app access, web trading and desktop terminal access for its users.
Android app: IIFL Securities and SBI Securities both list an Android trading app.
iOS app: IIFL Securities and SBI Securities both list an iOS trading app.
Web trading platform: SBI Securities lists a web trading platform, while IIFL Securities does not currently mention it.
Desktop trading terminal: SBI Securities lists a desktop trading terminal, while IIFL Securities does not currently mention it.
Algo trading: Neither broker currently highlights algo trading support.
Basket trading: SBI Securities lists basket trading, while IIFL Securities does not currently mention it.
Foreign stocks platform: Neither broker currently highlights foreign stocks access.
Mutual fund platform: IIFL Securities and SBI Securities both list a mutual fund investment platform.
Digital gold platform: IIFL Securities lists digital gold investing, while SBI Securities does not currently mention it.
Bonds platform: SBI Securities lists a bonds investment platform, while IIFL Securities does not currently mention it.
IIFL Securities vs SBI Securities — Complete Comparison of Trading Platforms
| Trading Platform | IIFL Securities | SBI Securities |
|---|---|---|
| Android App | IIFL Securities Android App Link | SBI Securities Android App Link |
| iOS App | IIFL Securities iOS App Link | SBI Securities iOS App Link |
| Web Trading Platform | — | SBI Securities Web Trading Link |
| Trading Terminal | NA | Available |
| Algo Trading Platform | NA | NA |
| Foreign Stocks Platform | NA | NA |
| 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 SBI Securities promotes watchlists, real-time updates, portfolio tracking, online mutual fund access, research reports and stock tips. 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 SBI Securities offer this feature.
Real time updates: Get timely updates on market trends, stock prices, and other market data. Both IIFL Securities and SBI Securities offer this feature.
Portfolio details: A detailed snapshot of all investments — stocks, bonds, and commodities — in one place. Both IIFL Securities and SBI Securities offer this feature.
Online mf buy: Buy or sell mutual funds directly from the trading platform or mobile application. Both IIFL Securities and SBI Securities offer this feature.
Research reports: A comprehensive overview of different stocks and sectors in the stock market. Both IIFL Securities and SBI Securities offer this feature.
Stock tips: Valuable tips on stocks to buy, hold, or sell based on market trends. Both IIFL Securities and SBI Securities offer this feature.
Interactive charts: Visual price movement charts to help analyse when to buy or sell. Both IIFL Securities and SBI Securities offer this feature.
Live market: Live updates on market movements and trends. Both IIFL Securities and SBI Securities offer this feature.
Multi profile management: Manage multiple trading profiles from a single account. Both IIFL Securities and SBI Securities offer this feature.
Secure platform: A secure trading environment with next-generation security controls. Both IIFL Securities and SBI Securities offer this feature.
IIFL Securities vs SBI Securities — Comprehensive Comparison of Trading Features
| Trading Feature | IIFL Securities | SBI Securities |
|---|---|---|
| Wishlist | Yes | Yes |
| Real-Time Updates | Yes | Yes |
| Portfolio Details | Yes | Yes |
| Online MF Buy | Yes | Yes |
| Research Reports | Yes | Yes |
| Global Indices | No | No |
| Customised Recommendations | No | No |
| Stock Tips | Yes | Yes |
| Interactive Charts | Yes | Yes |
| Live Market | Yes | Yes |
| Multi Profile Management | Yes | Yes |
| 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 SBI Securities.
Free account opening: IIFL Securities lists free account opening, while SBI Securities does not currently mention it.
Free AMC: IIFL Securities lists free Demat AMC, while SBI Securities does not currently mention it.
Free brokerage: Neither broker currently highlights free brokerage.
Flat brokerage: Neither broker currently highlights flat brokerage pricing.
Flexible brokerage plans: IIFL Securities and SBI Securities 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 SBI Securities both list free research reports.
Free trading calls: IIFL Securities and SBI Securities 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 SBI Securities offers Upto Rs.700 per Client for referrals.
IIFL Securities vs SBI Securities — Comparison of Latest Offers
| Offer | IIFL Securities | SBI Securities |
|---|---|---|
| Free Account Opening | Yes | No |
| Free AMC | 1st Year Free | No |
| Free Brokerage | No | No |
| Flat Brokerage | No | No |
| 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 | Yes |
| Referral Offers | Upto Rs.1000 per Client | Upto Rs.700 per Client |
| Margin Funding / Pledging | Yes | Yes |
| Brokerage Cashback | No | Yes |
| 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 SBI Securities 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, banking services, insurance, corporate bonds, government bonds and bonds.
IIFL Securities vs SBI Securities — Complete Comparison of Products
| Product | IIFL Securities | SBI Securities |
|---|---|---|
| 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 | Yes |
| Insurance | No | Yes |
| Corporate Bonds | No | Yes |
| Government Bonds | No | Yes |
| Digital Gold | Yes | No |
Demat services: IIFL Securities and SBI Securities both list Demat services.
Trading services: IIFL Securities and SBI Securities both list trading services.
Intraday services: IIFL Securities and SBI Securities both list intraday trading services.
F&O services: IIFL Securities and SBI Securities both list F&O services.
IPO services: IIFL Securities and SBI Securities both list IPO services.
3-in-1 account: SBI Securities lists 3-in-1 account support, while IIFL Securities does not currently mention it.
Stock research: IIFL Securities and SBI Securities both list stock research.
Stock recommendations: IIFL Securities and SBI Securities both list stock recommendations.
Trading education: SBI Securities lists trading education, while IIFL Securities does not currently mention it.
Share pledging: IIFL Securities and SBI Securities both list share pledging.
PMS or PCG: IIFL Securities and SBI Securities both list PMS or PCG support.
NRI services: IIFL Securities and SBI Securities both list NRI services.
IIFL Securities provides Demat services, trading services, intraday trading, F&O trading, IPO access and stock research, while SBI Securities offers Demat services, trading services, intraday trading, F&O trading, IPO access and 3-in-1 account support.
IIFL Securities vs SBI Securities — In-Depth Comparison of Services
| Service | IIFL Securities | SBI Securities |
|---|---|---|
| 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 | Yes, Investor Sarathi |
| 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 SBI Securities.
IIFL Securities and SBI Securities — Detailed Comparison of Advisory Services
| Advisory | IIFL Securities | SBI Securities |
|---|---|---|
| Fundamental Reports | Yes | Yes |
| Research Reports | Yes | Yes |
| 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 SBI Securities across different segments.
IIFL Securities and SBI Securities — Comprehensive Comparison of Trading Exposure
| Exposure | IIFL Securities | SBI Securities |
|---|---|---|
| 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 SBI Securities both list a sub-broker program. IIFL Securities and SBI Securities both list a partner program. IIFL Securities and SBI Securities both list a referral program.
IIFL Securities vs SBI Securities — Comparative Analysis of Programs
| Program | IIFL Securities | SBI Securities |
|---|---|---|
| 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. SBI Securities provides support through trading desk support, dedicated dealer assistance, call support, email support and website support. IIFL Securities operates Available branches. SBI Securities operates Available branches.
IIFL Securities and SBI Securities — Comprehensive Comparison of Customer Support
| Support Channel | IIFL Securities | SBI Securities |
|---|---|---|
| Trading Support | Available, Free | Available, Free |
| Dedicated Dealer | Available, Free | Available, Free |
| Call Support | 022-40071000 | 022-68545555 |
| Email Support | [email protected] | [email protected] |
| WhatsApp Support | 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 | Telegram Support Link |
| Branches / Offices | Available | Available |
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 SBI Securities carries an overall rating of 8.95 / 10.
IIFL Securities vs SBI Securities — Ratings Comparison
| Rating Parameter | IIFL Securities | SBI Securities |
|---|---|---|
| Overall Rating | 9.28 / 10 | 8.95 / 10 |
| Customer Support | 9.24 / 10 | 8.92 / 10 |
| Technology | 9.39 / 10 | 9.06 / 10 |
| Charges | 9.32 / 10 | 8.99 / 10 |
| Products & Services | 9.22 / 10 | 8.90 / 10 |
| Experience | 9.20 / 10 | 8.88 / 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 & SBI Securities — Comparison of Customer Complaints
| Complaint Metric | IIFL Securities | SBI Securities |
|---|---|---|
| Total Complaints Lodged | 240 | 182 |
| Total Complaints Resolved | 201 | 162 |
| % of Resolved Complaints | 83.75% | 89.01% |
| Non-Actionable Complaints | 24 | 11 |
| % of Non-Actionable Complaints | 10.00% | 6.04% |
Transaction charges are levied by the stockbroker for executing each trade. Below is a segment-wise comparison for IIFL Securities and SBI Securities.
IIFL Securities vs SBI Securities — Detailed Comparison of Transaction Charges
| Transaction Charges | IIFL Securities | SBI Securities |
|---|---|---|
| Equity Delivery | ||
| Equity Intraday | ||
| Equity Future | ||
| Equity Option | ||
| Commodity Future | ||
| Commodity Option | ||
| Currency Future | ||
| Currency Option |
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 SBI Securities — Detailed Comparison of Hidden / Other Charges
| Charge | IIFL Securities | SBI Securities |
|---|---|---|
| SEBI Turnover Charges | ||
| DP Charges | ||
| GST | ||
| Account Closure Charges | ||
| Reactivation Charges | ||
| Dematerialisation Charges | ||
| Call & Trade Charges |
IIFL Securities lists account opening charges of Free and Demat AMC of Rs.250 per Year (1st Year Free). SBI Securities lists account opening charges of Rs.850 and Demat AMC of Rs.750.
IIFL Securities vs SBI Securities — Detailed Comparison of Demat Charges
| Demat Charges | IIFL Securities | SBI Securities |
|---|---|---|
| Account Opening Charges | Free | Rs.850 |
| Annual Maintenance Charges (AMC) | Rs.250 per Year (1st Year Free) | Rs.750 |
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 SBI Securities — Comparative Analysis of STT and CTT Charges
| STT & CTT | IIFL Securities | SBI Securities |
|---|---|---|
| Equity Delivery | ||
| Equity Intraday | ||
| Equity Future | ||
| Equity Option | ||
| Commodity Future | ||
| Commodity Option | ||
| Currency Future | ||
| Currency Option |
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 SBI Securities — Comparison of Stamp Duty Charges
| Stamp Duty | IIFL Securities | SBI Securities |
|---|---|---|
| Equity Delivery | ||
| Equity Intraday | ||
| Equity Future | ||
| Equity Option | ||
| Commodity Future | ||
| Commodity Option | ||
| Currency Future | ||
| Currency Option |