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