IIFL Securities and Shoonya 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 Shoonya is listed as a Private Discount Broker , established in 2020 and headquartered in Punjab.
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 Shoonya 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.
Shoonya is listed as a Private Discount Broker established in 2020 with headquarters in Punjab and founded by Sarvjeet Singh Virk and Tajinder Virk. 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 customised recommendations. 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 Shoonya — A Comprehensive Company Overview
| Company Overview | IIFL Securities | Shoonya |
|---|---|---|
| Company Type | Private | Private |
| Broker Type | Discount Broker | Discount Broker |
| Headquarters | Mumbai | Punjab |
| Founder | Nirmal Jain | Sarvjeet Singh Virk and Tajinder Virk |
| Establishment Year | 1995 | 2020 |
| 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 Shoonya.
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 Shoonya charges Zero.
Equity intraday: This charge applies to buy-sell positions closed within the same trading day. IIFL Securities charges 0.025% of Transaction Value while Shoonya charges 0.03% or Rs. 5.00 whichever is low.
Equity futures: This charge applies to futures contracts on stocks and indices. IIFL Securities charges 0.25% of Transaction Value while Shoonya charges 0.03% or Rs. 5.00 whichever is low.
Equity options: This charge applies to equity option contracts. IIFL Securities charges Rs.25 per Lot while Shoonya charges Flat ₹5 plus GST on per executed order.
Commodity futures: This charge covers commodities such as gold, silver, and crude oil. IIFL Securities charges 0.25% of Transaction Value while Shoonya charges 0.03% or Rs. 5.00 whichever is low.
Commodity options: This charge applies to option contracts on commodity instruments. IIFL Securities charges Rs.25 per Lot while Shoonya charges Flat ₹5 plus GST on per executed order.
Currency futures: This charge allows participation in forex price movements on the exchange. IIFL Securities charges 0.25% of Transaction Value while Shoonya charges 0.03% or Rs. 5.00 whichever is low.
Currency options: This charge enables traders to hedge or speculate on currency fluctuations. IIFL Securities charges Rs.25 per Lot while Shoonya charges Flat ₹5 plus GST on per executed order.
IIFL Securities vs Shoonya — Detailed Brokerage Comparison
| Brokerage | IIFL Securities | Shoonya |
|---|---|---|
| Brokerage Plan | iValue Brokerage | Standard |
| Subscription Charges | Zero | Zero |
| Equity Delivery | 0.25% of Transaction Value | Zero |
| Equity Intraday | 0.025% of Transaction Value | 0.03% or Rs. 5.00 whichever is low |
| Equity Future | 0.25% of Transaction Value | 0.03% or Rs. 5.00 whichever is low |
| Equity Option | Rs.25 per Lot | Flat ₹5 plus GST on per executed order |
| Commodity Future | 0.25% of Transaction Value | 0.03% or Rs. 5.00 whichever is low |
| Commodity Option | Rs.25 per Lot | Flat ₹5 plus GST on per executed order |
| Currency Future | 0.25% of Transaction Value | 0.03% or Rs. 5.00 whichever is low |
| Currency Option | Rs.25 per Lot | Flat ₹5 plus GST on per executed order |
IIFL Securities provides mobile app access for order placement, portfolio tracking, and market monitoring. Shoonya provides mobile app access, web trading, desktop terminal access and algo trading support for its users.
Android app: IIFL Securities and Shoonya both list an Android trading app.
iOS app: IIFL Securities and Shoonya both list an iOS trading app.
Web trading platform: Shoonya lists a web trading platform, while IIFL Securities does not currently mention it.
Desktop trading terminal: Shoonya lists a desktop trading terminal, while IIFL Securities does not currently mention it.
Algo trading: Shoonya lists algo trading support, while IIFL Securities does not currently mention it.
Basket trading: Shoonya 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 Shoonya both list a mutual fund investment platform.
Digital gold platform: IIFL Securities lists digital gold investing, while Shoonya does not currently mention it.
Bonds platform: Neither broker currently highlights a bonds investment platform.
IIFL Securities vs Shoonya — Complete Comparison of Trading Platforms
| Trading Platform | IIFL Securities | Shoonya |
|---|---|---|
| Android App | IIFL Securities Android App Link | Download |
| iOS App | IIFL Securities iOS App Link | Download |
| Web Trading Platform | — | Shoonya Trade |
| Trading Terminal | NA | Available |
| Algo Trading Platform | NA | Available |
| Foreign Stocks Platform | NA | No |
| Basket Trading Platform | NA | Available |
| Mutual Fund Platform | Available | Available |
| Digital Gold Platform | Available | No |
| Bonds Platform | NA | No |
IIFL Securities highlights trading features including watchlists, real-time updates, portfolio tracking, online mutual fund access, research reports and stock tips, while Shoonya promotes watchlists, real-time updates, portfolio tracking, online mutual fund access, research reports and customised recommendations. 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 Shoonya offer this feature.
Real time updates: Get timely updates on market trends, stock prices, and other market data. Both IIFL Securities and Shoonya offer this feature.
Portfolio details: A detailed snapshot of all investments — stocks, bonds, and commodities — in one place. Both IIFL Securities and Shoonya offer this feature.
Online mf buy: Buy or sell mutual funds directly from the trading platform or mobile application. Both IIFL Securities and Shoonya offer this feature.
Research reports: A comprehensive overview of different stocks and sectors in the stock market. Both IIFL Securities and Shoonya offer this feature.
Customised recommendations: Personalised investment suggestions based on your objectives and behaviour patterns. Shoonya 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 Shoonya offer this feature.
Interactive charts: Visual price movement charts to help analyse when to buy or sell. Both IIFL Securities and Shoonya offer this feature.
Live market: Live updates on market movements and trends. Both IIFL Securities and Shoonya offer this feature.
Multi profile management: Manage multiple trading profiles from a single account. Both IIFL Securities and Shoonya offer this feature.
Secure platform: A secure trading environment with next-generation security controls. Both IIFL Securities and Shoonya offer this feature.
IIFL Securities vs Shoonya — Comprehensive Comparison of Trading Features
| Trading Feature | IIFL Securities | Shoonya |
|---|---|---|
| Wishlist | Yes | Yes |
| Real-Time Updates | Yes | Yes |
| Portfolio Details | Yes | Yes |
| Online MF Buy | Yes | Yes |
| Research Reports | Yes | Yes |
| Global Indices | No | |
| Customised Recommendations | No | Yes |
| 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 Shoonya.
Free account opening: IIFL Securities and Shoonya both list free account opening.
Free AMC: IIFL Securities lists free Demat AMC, while Shoonya 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 Shoonya both list flexible brokerage plans.
Happy trading hours: Neither broker currently highlights happy trading hours.
Free delivery trading: Shoonya lists free delivery trading, while IIFL Securities does not currently mention it.
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 Shoonya both list free research reports.
Free trading calls: IIFL Securities lists free trading calls, while Shoonya 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 for referrals; Shoonya does not currently list a referral offer.
IIFL Securities vs Shoonya — Comparison of Latest Offers
| Offer | IIFL Securities | Shoonya |
|---|---|---|
| Free Account Opening | Yes | Yes |
| Free AMC | 1st Year Free | |
| Free Brokerage | No | No |
| Flat Brokerage | No | No |
| Flexible Brokerage Plans | Yes | Yes |
| Happy Trading Hours | No | |
| Free Delivery Trading | No | Yes |
| Free Intraday Trading | No | No |
| Free F&O Trading | No | No |
| Free Research Reports | Yes | Yes |
| Free Trading Calls | Yes | |
| Referral Offers | Upto Rs.1000 per Client | |
| Margin Funding / Pledging | Yes | Yes |
| Brokerage Cashback | No | |
| Zero Brokerage for Loss-Making Trades | 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 Shoonya 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 foreign stocks.
IIFL Securities vs Shoonya — Complete Comparison of Products
| Product | IIFL Securities | Shoonya |
|---|---|---|
| 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 | No |
| Insurance | No | No |
| Corporate Bonds | No | No |
| Government Bonds | No | No |
| Digital Gold | Yes | No |
Demat services: IIFL Securities and Shoonya both list Demat services.
Trading services: IIFL Securities and Shoonya both list trading services.
Intraday services: IIFL Securities and Shoonya both list intraday trading services.
F&O services: IIFL Securities and Shoonya both list F&O services.
IPO services: IIFL Securities and Shoonya both list IPO services.
3-in-1 account: Neither broker currently highlights 3-in-1 account support.
Stock research: IIFL Securities and Shoonya both list stock research.
Stock recommendations: IIFL Securities and Shoonya both list stock recommendations.
Trading education: Neither broker currently highlights trading education.
Share pledging: IIFL Securities and Shoonya both list share pledging.
PMS or PCG: IIFL Securities lists PMS or PCG support, while Shoonya does not currently mention it.
NRI services: IIFL Securities lists NRI services, while Shoonya does not currently mention it.
IIFL Securities provides Demat services, trading services, intraday trading, F&O trading, IPO access and stock research, while Shoonya offers Demat services, trading services, intraday trading, F&O trading, IPO access and stock research.
IIFL Securities vs Shoonya — In-Depth Comparison of Services
| Service | IIFL Securities | Shoonya |
|---|---|---|
| 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 | |
| Stock Research | Yes | Yes |
| Stock Recommendations | Yes | Yes |
| Trading Education | No | |
| Share Pledging | Yes | Yes |
| PMS or PCG | Yes | |
| NRI Services | 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 Shoonya.
IIFL Securities and Shoonya — Detailed Comparison of Advisory Services
| Advisory | IIFL Securities | Shoonya |
|---|---|---|
| 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 | |
| Weekly Review | Yes | |
| Relationship Manager | Yes | |
| Robo Advisory | No |
Margin exposure allows traders to manage larger positions with less capital. Below is a comparison of the margin available from IIFL Securities and Shoonya across different segments.
IIFL Securities and Shoonya — Comprehensive Comparison of Trading Exposure
| Exposure | IIFL Securities | Shoonya |
|---|---|---|
| Equity Delivery | 1x | 1x |
| Equity Intraday | Upto 5x (Depends on Stocks) | 2x |
| Equity F&O Carry Forward | 1x | 1x |
| Equity F&O Intraday | 1.3x | 2x |
| Commodity F&O Carry Forward | 1x | 1.5x |
| Commodity F&O Intraday | 1.3x | 1.5x |
| Currency F&O | 1x | 1.5x |
IIFL Securities lists a sub-broker program, while Shoonya does not currently mention it. IIFL Securities lists a partner program, while Shoonya does not currently mention it. IIFL Securities lists a referral program, while Shoonya does not currently mention it.
IIFL Securities vs Shoonya — Comparative Analysis of Programs
| Program | IIFL Securities | Shoonya |
|---|---|---|
| Sub-Broker Program | Yes | |
| Partner Program | Yes | |
| Referral Program | Yes |
IIFL Securities provides support through trading desk support, dedicated dealer assistance, call support, email support and website support. Shoonya provides support through trading desk support, call support, email support, website support and Facebook support. IIFL Securities operates Available branches. Shoonya operates Mumbai branches.
IIFL Securities and Shoonya — Comprehensive Comparison of Customer Support
| Support Channel | IIFL Securities | Shoonya |
|---|---|---|
| Trading Support | Available, Free | +91 9779 902 002 |
| Dedicated Dealer | Available, Free | |
| Call Support | 022-40071000 | +91 1726 670 000 |
| Email Support | [email protected] | [email protected] |
| WhatsApp Support | NA | |
| Website Support | Website Link | https://shoonya.com/ |
| Facebook Support | Facebook Support Link | https://www.facebook.com/ShoonyaApp/ |
| Twitter / X Support | Twitter Support Link | https://twitter.com/shoonyaapp |
| Telegram Support | Telegram Support Link | https://t.me/Shoonya_App |
| Branches / Offices | Available | Mumbai |
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 Shoonya carries an overall rating of 4/5.
IIFL Securities vs Shoonya — Ratings Comparison
| Rating Parameter | IIFL Securities | Shoonya |
|---|---|---|
| Overall Rating | 9.28 / 10 | 4/5 |
| Customer Support | 9.24 / 10 | 4/5 |
| Technology | 9.39 / 10 | 4/5 |
| Charges | 9.32 / 10 | 4/5 |
| Products & Services | 9.22 / 10 | 4/5 |
| Experience | 9.20 / 10 | 4/5 |
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 & Shoonya — Comparison of Customer Complaints
| Complaint Metric | IIFL Securities | Shoonya |
|---|---|---|
| Total Complaints Lodged | 240 | |
| Total Complaints Resolved | 201 | |
| % of Resolved Complaints | 83.75% | |
| Non-Actionable Complaints | 24 | |
| % of Non-Actionable Complaints | 10.00% |
Transaction charges are levied by the stockbroker for executing each trade. Below is a segment-wise comparison for IIFL Securities and Shoonya.
IIFL Securities vs Shoonya — Detailed Comparison of Transaction Charges
| Transaction Charges | IIFL Securities | Shoonya |
|---|---|---|
| Equity Delivery | 0.00297% | |
| Equity Intraday | 0.00297% | |
| Equity Future | Exchange txn charge: 0.00173% | |
| Equity Option | txn charge: 0.03503% (on premium) | |
| Commodity Future | MCX: 0.0021% | |
| Commodity Option | MCX: 0.0418% | |
| Currency Future | Exchange txn charge: 0.00035% | |
| Currency Option | Exchange txn charge: 0.0311% |
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 & Shoonya — Comprehensive Comparison of Pledge Charges
| Pledge Charge | IIFL Securities | Shoonya |
|---|---|---|
| Pledge Creation Charges | Rs 20 + GST per ISIN | |
| Pledge Invocation Charges | ||
| Margin Trading Interest |
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 Shoonya — Detailed Comparison of Hidden / Other Charges
| Charge | IIFL Securities | Shoonya |
|---|---|---|
| SEBI Turnover Charges | ₹10/crore | |
| DP Charges | Rs 9 + Gst | |
| GST | 18% on ( transaction charges) | |
| Account Closure Charges | ||
| Reactivation Charges | ||
| Dematerialisation Charges | ||
| Call & Trade Charges | Zero |
IIFL Securities lists account opening charges of Free and Demat AMC of Rs.250 per Year (1st Year Free). Shoonya lists account opening charges of Free and Demat AMC of Zero.
IIFL Securities vs Shoonya — Detailed Comparison of Demat Charges
| Demat Charges | IIFL Securities | Shoonya |
|---|---|---|
| Account Opening Charges | Free | Free |
| Annual Maintenance Charges (AMC) | Rs.250 per Year (1st Year Free) | Zero |
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 Shoonya — Comparative Analysis of STT and CTT Charges
| STT & CTT | IIFL Securities | Shoonya |
|---|---|---|
| Equity Delivery | 0.1% on buy & sell | |
| Equity Intraday | 0.025% on the sell side | |
| Equity Future | 0.02% on the sell side | |
| Equity Option | 0.1% on sell side | |
| Commodity Future | 0.01% on sell side | |
| Commodity Option | 0.05% (of Selling Value) | |
| Currency Future | Zero | |
| Currency Option | Zero |
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 Shoonya — Comparison of Stamp Duty Charges
| Stamp Duty | IIFL Securities | Shoonya |
|---|---|---|
| Equity Delivery | 0.1% on buy & sell | |
| Equity Intraday | 0.025% on the sell side | |
| Equity Future | 0.02% on the sell side | |
| Equity Option | 0.1% on sell side | |
| Commodity Future | 0.002% or ₹200 / crore on buy side | |
| Commodity Option | 0.003% or ₹300 / crore on buy side | |
| Currency Future | 0.0001% or ₹10 / crore on buy side | |
| Currency Option | 0.0001% or ₹10 / crore on buy side |