IIFL Securities and Zerodha 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 Zerodha is listed as a Private Discount Broker , established in 2010 and headquartered in Bangalore, India.
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 Zerodha 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.
Zerodha is listed as a Private Discount Broker established in 2010 with headquarters in Bangalore, India and founded by Nithin Kamath. It offers equity delivery, equity intraday, equity futures, equity options, commodity futures, commodity options and currency futures using mobile app access, web trading and algo trading support and supports traders with features such as watchlists, real-time updates, portfolio tracking, online mutual fund access, interactive charts and live market tracking. 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 Zerodha — A Comprehensive Company Overview
| Company Overview | IIFL Securities | Zerodha |
|---|---|---|
| Company Type | Private | Private |
| Broker Type | Discount Broker | Discount Broker |
| Headquarters | Mumbai | Bangalore, India |
| Founder | Nirmal Jain | Nithin Kamath |
| Establishment Year | 1995 | 2010 |
| 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 Zerodha.
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 Zerodha charges Free.
Equity intraday: This charge applies to buy-sell positions closed within the same trading day. IIFL Securities charges 0.025% of Transaction Value while Zerodha charges Rs.20 per Trade or 0.03% (whichever is low).
Equity futures: This charge applies to futures contracts on stocks and indices. IIFL Securities charges 0.25% of Transaction Value while Zerodha charges Rs.20 per Trade or 0.03% (whichever is low).
Equity options: This charge applies to equity option contracts. IIFL Securities charges Rs.25 per Lot while Zerodha charges Rs.20 per Trade.
Commodity futures: This charge covers commodities such as gold, silver, and crude oil. IIFL Securities charges 0.25% of Transaction Value while Zerodha charges Rs.20 per Trade or 0.03% (whichever is Low).
Commodity options: This charge applies to option contracts on commodity instruments. IIFL Securities charges Rs.25 per Lot while Zerodha charges Rs.20 per Trade.
Currency futures: This charge allows participation in forex price movements on the exchange. IIFL Securities charges 0.25% of Transaction Value while Zerodha charges Rs.20 per Trade or 0.03% (whichever is Low).
Currency options: This charge enables traders to hedge or speculate on currency fluctuations. IIFL Securities charges Rs.25 per Lot while Zerodha charges Rs.20 per Trade.
IIFL Securities vs Zerodha — Detailed Brokerage Comparison
| Brokerage | IIFL Securities | Zerodha |
|---|---|---|
| Brokerage Plan | iValue Brokerage | Standard Plan |
| Subscription Charges | Zero | Zero |
| Equity Delivery | 0.25% of Transaction Value | Free |
| Equity Intraday | 0.025% of Transaction Value | Rs.20 per Trade or 0.03% (whichever is low) |
| Equity Future | 0.25% of Transaction Value | Rs.20 per Trade or 0.03% (whichever is low) |
| Equity Option | Rs.25 per Lot | Rs.20 per Trade |
| Commodity Future | 0.25% of Transaction Value | Rs.20 per Trade or 0.03% (whichever is Low) |
| Commodity Option | Rs.25 per Lot | Rs.20 per Trade |
| Currency Future | 0.25% of Transaction Value | Rs.20 per Trade or 0.03% (whichever is Low) |
| Currency Option | Rs.25 per Lot | Rs.20 per Trade |
IIFL Securities provides mobile app access for order placement, portfolio tracking, and market monitoring. Zerodha provides mobile app access, web trading and algo trading support for its users.
Android app: IIFL Securities and Zerodha both list an Android trading app.
iOS app: IIFL Securities and Zerodha both list an iOS trading app.
Web trading platform: Zerodha 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: Zerodha lists algo trading support, while IIFL Securities does not currently mention it.
Basket trading: Zerodha 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 Zerodha both list a mutual fund investment platform.
Digital gold platform: IIFL Securities lists digital gold investing, while Zerodha does not currently mention it.
Bonds platform: Zerodha lists a bonds investment platform, while IIFL Securities does not currently mention it.
IIFL Securities vs Zerodha — Complete Comparison of Trading Platforms
| Trading Platform | IIFL Securities | Zerodha |
|---|---|---|
| Android App | IIFL Securities Android App Link | Zerodha Android App Link |
| iOS App | IIFL Securities iOS App Link | Zerodha iOS App Link |
| Web Trading Platform | — | Zerodha Web Trading Link |
| Trading Terminal | NA | NA |
| Algo Trading Platform | NA | Available |
| 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 Zerodha promotes watchlists, real-time updates, portfolio tracking, online mutual fund access, interactive charts and live market 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 Zerodha offer this feature.
Real time updates: Get timely updates on market trends, stock prices, and other market data. Both IIFL Securities and Zerodha offer this feature.
Portfolio details: A detailed snapshot of all investments — stocks, bonds, and commodities — in one place. Both IIFL Securities and Zerodha offer this feature.
Online mf buy: Buy or sell mutual funds directly from the trading platform or mobile application. Both IIFL Securities and Zerodha offer this feature.
Research reports: A comprehensive overview of different stocks and sectors in the stock market. IIFL Securities offers this; Zerodha does not currently highlight it.
Stock tips: Valuable tips on stocks to buy, hold, or sell based on market trends. IIFL Securities offers this; Zerodha does not currently highlight it.
Interactive charts: Visual price movement charts to help analyse when to buy or sell. Both IIFL Securities and Zerodha offer this feature.
Live market: Live updates on market movements and trends. Both IIFL Securities and Zerodha offer this feature.
Multi profile management: Manage multiple trading profiles from a single account. IIFL Securities offers this; Zerodha does not currently highlight it.
Secure platform: A secure trading environment with next-generation security controls. Both IIFL Securities and Zerodha offer this feature.
IIFL Securities vs Zerodha — Comprehensive Comparison of Trading Features
| Trading Feature | IIFL Securities | Zerodha |
|---|---|---|
| Wishlist | Yes | Yes |
| Real-Time Updates | Yes | Yes |
| Portfolio Details | Yes | Yes |
| Online MF Buy | Yes | Yes |
| Research Reports | Yes | No |
| Global Indices | No | No |
| Customised Recommendations | No | No |
| Stock Tips | Yes | No |
| 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 Zerodha.
Free account opening: IIFL Securities lists free account opening, while Zerodha does not currently mention it.
Free AMC: IIFL Securities lists free Demat AMC, while Zerodha does not currently mention it.
Free brokerage: Zerodha lists free brokerage, while IIFL Securities does not currently mention it.
Flat brokerage: Zerodha lists flat brokerage pricing, while IIFL Securities does not currently mention it.
Flexible brokerage plans: IIFL Securities lists flexible brokerage plans, while Zerodha does not currently mention it.
Happy trading hours: Neither broker currently highlights happy trading hours.
Free delivery trading: Zerodha 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 lists free research reports, while Zerodha does not currently mention it.
Free trading calls: IIFL Securities lists free trading calls, while Zerodha 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 Zerodha offers 10% + 300 Points per Client for referrals.
IIFL Securities vs Zerodha — Comparison of Latest Offers
| Offer | IIFL Securities | Zerodha |
|---|---|---|
| Free Account Opening | Yes | No |
| Free AMC | 1st Year Free | No |
| Free Brokerage | No | Yes, Limited |
| Flat Brokerage | No | Yes |
| Flexible Brokerage Plans | Yes | No |
| Happy Trading Hours | No | No |
| Free Delivery Trading | No | Yes |
| Free Intraday Trading | No | No |
| Free F&O Trading | No | No |
| Free Research Reports | Yes | No |
| Free Trading Calls | Yes | No |
| Referral Offers | Upto Rs.1000 per Client | 10% + 300 Points 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 Zerodha 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, corporate bonds, government bonds and bonds.
IIFL Securities vs Zerodha — Complete Comparison of Products
| Product | IIFL Securities | Zerodha |
|---|---|---|
| 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 | No |
| Corporate Bonds | No | Yes |
| Government Bonds | No | Yes |
| Digital Gold | Yes | No |
Demat services: IIFL Securities and Zerodha both list Demat services.
Trading services: IIFL Securities and Zerodha both list trading services.
Intraday services: IIFL Securities and Zerodha both list intraday trading services.
F&O services: IIFL Securities and Zerodha both list F&O services.
IPO services: IIFL Securities and Zerodha both list IPO services.
3-in-1 account: Neither broker currently highlights 3-in-1 account support.
Stock research: IIFL Securities lists stock research, while Zerodha does not currently mention it.
Stock recommendations: IIFL Securities lists stock recommendations, while Zerodha does not currently mention it.
Trading education: Zerodha lists trading education, while IIFL Securities does not currently mention it.
Share pledging: IIFL Securities and Zerodha both list share pledging.
PMS or PCG: IIFL Securities lists PMS or PCG support, while Zerodha does not currently mention it.
NRI services: IIFL Securities lists NRI services, while Zerodha does not currently mention it.
IIFL Securities provides Demat services, trading services, intraday trading, F&O trading, IPO access and stock research, while Zerodha offers Demat services, trading services, intraday trading, F&O trading, IPO access and trading education.
IIFL Securities vs Zerodha — In-Depth Comparison of Services
| Service | IIFL Securities | Zerodha |
|---|---|---|
| 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 | No |
| Stock Recommendations | Yes | No |
| Trading Education | No | Yes, Zerodha Varsity |
| 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 Zerodha.
IIFL Securities and Zerodha — Detailed Comparison of Advisory Services
| Advisory | IIFL Securities | Zerodha |
|---|---|---|
| Fundamental Reports | Yes | Yes |
| Research Reports | Yes | No |
| Company Reports | Yes | No |
| Annual Reports | Yes | No |
| IPO Reports | Yes | Yes |
| Technical Reports | Yes | Yes |
| Stock Tips | Yes | No |
| Daily Top Stock Picks | Yes | No |
| Daily Market Review | Yes | No |
| Monthly Review | Yes | No |
| Weekly Review | Yes | Yes |
| Relationship Manager | Yes | No |
| Robo Advisory | No | Yes |
Margin exposure allows traders to manage larger positions with less capital. Below is a comparison of the margin available from IIFL Securities and Zerodha across different segments.
IIFL Securities and Zerodha — Comprehensive Comparison of Trading Exposure
| Exposure | IIFL Securities | Zerodha |
|---|---|---|
| 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 Zerodha both list a sub-broker program. IIFL Securities and Zerodha both list a partner program. IIFL Securities and Zerodha both list a referral program.
IIFL Securities vs Zerodha — Comparative Analysis of Programs
| Program | IIFL Securities | Zerodha |
|---|---|---|
| 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. Zerodha provides support through trading desk support, dedicated dealer assistance, call support, email support and website support. IIFL Securities operates Available branches.
IIFL Securities and Zerodha — Comprehensive Comparison of Customer Support
| Support Channel | IIFL Securities | Zerodha |
|---|---|---|
| Trading Support | Available, Free | Available, Chargeable |
| Dedicated Dealer | Available, Free | Available, Chargeable |
| Call Support | 022-40071000 | 080-47181888, 9513369973 |
| 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 | 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 Zerodha carries an overall rating of 9.85 / 10.
IIFL Securities vs Zerodha — Ratings Comparison
| Rating Parameter | IIFL Securities | Zerodha |
|---|---|---|
| Overall Rating | 9.28 / 10 | 9.85 / 10 |
| Customer Support | 9.24 / 10 | 9.81 / 10 |
| Technology | 9.39 / 10 | 9.97 / 10 |
| Charges | 9.32 / 10 | 9.89 / 10 |
| Products & Services | 9.22 / 10 | 9.79 / 10 |
| Experience | 9.20 / 10 | 9.77 / 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 & Zerodha — Comparison of Customer Complaints
| Complaint Metric | IIFL Securities | Zerodha |
|---|---|---|
| Total Complaints Lodged | 240 | 339 |
| Total Complaints Resolved | 201 | 307 |
| % of Resolved Complaints | 83.75% | 90.56% |
| Non-Actionable Complaints | 24 | 20 |
| % of Non-Actionable Complaints | 10.00% | 5.90% |
Transaction charges are levied by the stockbroker for executing each trade. Below is a segment-wise comparison for IIFL Securities and Zerodha.
IIFL Securities vs Zerodha — Detailed Comparison of Transaction Charges
| Transaction Charges | IIFL Securities | Zerodha |
|---|---|---|
| Equity Delivery | 0.00325% (NSE) & 0.00375% (BSE) | |
| Equity Intraday | 0.00325% (NSE) & 0.00375% (BSE) | |
| Equity Future | 0.0019% (NSE & BSE) | |
| Equity Option | 0.05% (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) & 0.00025% (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 & Zerodha — Comprehensive Comparison of Pledge Charges
| Pledge Charge | IIFL Securities | Zerodha |
|---|---|---|
| Pledge Creation Charges | Rs.30 per Request | |
| Pledge Invocation Charges | Nil | |
| 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 Zerodha — Detailed Comparison of Hidden / Other Charges
| Charge | IIFL Securities | Zerodha |
|---|---|---|
| SEBI Turnover Charges | Rs.10/ Crore (All Segment) | |
| DP Charges | Rs.13.5 per Scrip on Sell | |
| GST | 18% on (Brokerage + SEBI + Transaction charges) | |
| Account Closure Charges | Rs.25 | |
| Reactivation Charges | Rs.20 | |
| Dematerialisation Charges | Rs.30 per Certificate | |
| Call & Trade Charges | Rs.30 per Certificate |
IIFL Securities lists account opening charges of Free and Demat AMC of Rs.250 per Year (1st Year Free). Zerodha lists account opening charges of Rs.200 – Rs.300 and Demat AMC of Rs.300 per Year.
IIFL Securities vs Zerodha — Detailed Comparison of Demat Charges
| Demat Charges | IIFL Securities | Zerodha |
|---|---|---|
| Account Opening Charges | Free | Rs.200 – Rs.300 |
| Annual Maintenance Charges (AMC) | Rs.250 per Year (1st Year Free) | Rs.300 per 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 Zerodha — Comparative Analysis of STT and CTT Charges
| STT & CTT | IIFL Securities | Zerodha |
|---|---|---|
| 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 Zerodha — Comparison of Stamp Duty Charges
| Stamp Duty | IIFL Securities | Zerodha |
|---|---|---|
| Equity Delivery | 0.1% on buy & sell | |
| Equity Intraday | 0.025% on sell | |
| Equity Future | 0.0125% on sell | |
| Equity Option | 0.125% on buy, 0.0625% on sell | |
| Commodity Future | 0.01% on sell | |
| Commodity Option | 0.05% on sell | |
| Currency Future | Nil | |
| Currency Option | Nil |