• Top Stock Brokers in India ‐ Reviews, Comparison and Offers

IIFL vs Mdirect (Compare IIFL vs Mdirect)

So many brokers are offering stock trading & Demat services in India, which one is best, which one provides the services at the lowest price, provides best mobile trading application, the best research team, etc. All answers to your questions would be available here.

Here we provide side by side comparison between IIFL vs Mdirect, Below comparison of IIFL vs Mdirect highlights the variations of Brokerage charges & services offered, Compare their ratings, brokerage & AMC charges, Investment choices, Customer Service, Demat Account, features, Platforms, and running offers.

One on One comparison of IIFL vs Mdirect is given below:

IIFL Mdirect
About The Brokers
IIFL :

"IIFL is the renowned stockbroker who provides various financial products to its customers at nominal brokerage. They have an excellent online presence and protect you   >>> more

Mdirect :

   >>> more

Find More Information about the Broker :
IIFL :
OVERVIEW BROKERAGE PRODUCTS & SERVICES TRADING PLATFORM & TOOLS RATING
Mdirect :
OVERVIEW BROKERAGE PRODUCTS & SERVICES TRADING PLATFORM & TOOLS RATING
Type of Broker
IIFL :
 Full Service Broker
Mdirect :
 Full Service Broker
Promo/offers
IIFL :
Special Offer: Brokerage free equity delivery trading + Flat ₹20 Intra-day and F&O trades.Get the offer
Mdirect :
N/A
Advantage
IIFL :
  • Offer online IPO and Equity SIP
  • 1900+ branches all over India & have a global presence
  • Trading facility to NRIs is provided
  • Provide multiple broking plans
  • IIFL Trade terminal is one of the best trading terminal in India
  • Offer Commodity Trading & Investment facility in Mutual funds & IPO
Mdirect :

NA

Disadvantage
IIFL :
  • Scope improvement is there in customer support.
  • Provides only 2-in-1 account facility
  • Less transparency in brokerage plans
  • High brokerage.
  • Minimum Brokerage charges
Mdirect :

NA

Why This
IIFL :
  • Full-service broker who provide 2-in-1 On-line trading account to Indian as well as NRIs present all over the world.
  • Provide IPO service and equity SIP also
  • Amongst top 10 stock brokers in India
  • Best rated mobile Trading Platforms with >1.9m download.
  • Have branches all over India. Approx 1900+ Branches
  • They provide multiple brokerage plans
  • All investment options - Equities, IPO, Mutual Funds,ETFs,Commodities,F&O
  • Offer NRI Trading.
Mdirect :

NA


IIFL vs Mdirect Account Opening & AMC Charges

IIFL Trading Account Opening Fee is ₹250+GST and - . IIFL Demat Account AMC is ₹0 (for the 1st Year) and after ₹400 per year and - .

IIFL Mdirect
Trading Account Opening Fee Trading Account Opening Fee :

₹250+GST

Trading Account Opening Fee : -
Demat Account Opening Fee Demat Account Opening Fee :

₹0

Demat Account Opening Fee : -
Demat Account AMC Demat Account AMC :

₹0 (for the 1st Year) and after ₹400 per year

Demat Account AMC : -
Trading Account AMC Trading Account AMC :

₹0

Trading Account AMC : -

IIFL vs Mdirect Brokerage Charges

IIFL Brokerage Charges Equity Delivery is ₹ 0 and Equity Intraday is ₹ 20 or 0.05% whichever is lower and Equity Options is ₹ 20 . Mdirect Brokerage Charges

IIFL Mdirect
Plan Name Plan Name :

Standard Plan

-
Equity Delivery Equity Delivery :

₹ 0

-
Equity Intraday Equity Intraday :

₹ 20 or 0.05% whichever is lower

-
Equity Future Equity Future :

₹ 20 or 0.05% whichever is lower

-
Equity Options Equity Options :

₹ 20

-
Currency Futures Currency Futures :

₹ 20 or 0.05% whichever is lower

-
Currency Options Currency Options :

₹ 20

-
Monthly Fee Monthly Fee :

₹0

-
Margin Trading Margin Trading :

Yes

-
Commodity Futures Commodity Futures :

₹ 20 or 0.05% whichever is lower

-
Commodity Options Commodity Options :

₹ 20

-

IIFL vs Mdirect Transaction Charges (Per Crore)

IIFL Transaction Charges (Per Crore) Equity Future is 0.0021% and Equity Options is 0.051% on premium . Mdirect Transaction Charges (Per Crore) - and - .

IIFL Mdirect
Equity Delivery Equity Delivery :

0.00325%

Equity Delivery : -
Equity Intraday Equity Intraday :

0.00325%

Equity Intraday : -
Equity Future * Equity Future :

0.0021%

Equity Future : -
Equity Options * Equity Options :

0.051% on premium

Equity Options : -
Currency Futures * Currency Futures :

0.0021%

Currency Futures : -
Currency Options Currency Options :

0.051% on premium

Currency Options : -
Commodity Commodity :

0.0028%

Commodity : -

IIFL vs Mdirect Other Charges

IIFL Minimum Brokerage is ₹0.05 per share (₹25 Min) and Call & Trade is ₹50 per call . Mdirect and .

IIFL Mdirect
Minimum Brokerage Minimum Brokerage :

₹0.05 per share (₹25 Min)

Minimum Brokerage : -
Call & Trade Call & Trade :

₹50 per call

Call & Trade : -
Stamp Duty * Stamp Duty :

Charges as per the state of residence

Stamp Duty : -
DP Charges (on sell side) DP Charges (on sell side) :

0.04% (minimum ₹25 per debit transaction)

DP Charges (on sell side) : -
Other Miscellaneous Charges Other Miscellaneous Charges :

Advisory SMS - ₹50 per month

Other Miscellaneous Charges : -

IIFL vs Mdirect Features

IIFL and Mdirect both offer a host of features, trading tools & platforms to their clients. Their comparative analysis is in the below table:

IIFL Mdirect
Trading Platform Trading Platform :

Trader terminal and IIFL Markets App

Trading Platform : -
Placing orders through charts Placing orders through charts :

No

Placing orders through charts : -
Trading Alerts Trading Alerts :

No

Trading Alerts : -
Research and Advice / Trading Tips Research and Advice / Trading Tips : - Research and Advice / Trading Tips : -
Detailed Education Initiatives Detailed Education Initiatives :

Yes

Detailed Education Initiatives : -
Unique features & Offers Unique features & Offers :

Market mantra, IIFL calls, Loyalty points

Unique features & Offers : -
Referral Program Referral Program : - Referral Program : -
Margin Against Shares (Equity Cash) * Margin Against Shares (Equity Cash) :

Yes

Margin Against Shares (Equity Cash) :

Yes

Margin Against Shares (Equity F&O) * Margin Against Shares (Equity F&O) :

No

Margin Against Shares (Equity F&O) :

Yes


IIFL vs Mdirect Demat Account Charges

A comparative table of various demat account charges between IIFL and Mdirect is below:

IIFL Mdirect
Depository Service Provider Depository Service Provider :

CDSL and NSDL

Depository Service Provider : -
Account Opening Fee Account Opening Fee :

₹750

Account Opening Fee : -
Advance Deposit Advance Deposit :

Nil

Advance Deposit : -
AMC AMC :

₹0

AMC : -
Dematerialisation Charges Dematerialisation Charges :

₹15 per certificate + ₹40 as postal charges

Dematerialisation Charges : -
Rematerialisation Charges Rematerialisation Charges :

₹15 per certificate or ₹15 for every 100 securities or part thereof whichever is higher + ₹40 for courier

Rematerialisation Charges : -
Transaction Charges (Credit) Transaction Charges (Credit) : - Transaction Charges (Credit) : -
Transaction Charges (debit) Transaction Charges (debit) :

0.05% (Min ₹15 and max ₹100)

Transaction Charges (debit) : -
Pledge Creation Charges Pledge Creation Charges :

₹50

Pledge Creation Charges : -
Pledge Creation Confirmation Charges Pledge Creation Confirmation Charges :

Nil

Pledge Creation Confirmation Charges : -
Pledge Invocation Charges Pledge Invocation Charges :

Nil

Pledge Invocation Charges : -
Failed Instruction Charges Failed Instruction Charges :

Nil

Failed Instruction Charges : -
Other Charges Other Charges :

Nil

Other Charges : -

IIFL vs Mdirect Basic Details

IIFL Year of Incorporation is 1996 and Total Number of Clients is 389623 and Total Number of Branches is 900 . Mdirect and and .

IIFL Mdirect
Year of Incorporation Year of Incorporation :

1996

Year of Incorporation : -
Active Exchange Memberships Active Exchange Memberships :

NSE, BSE, MCX, and NCDEX

Active Exchange Memberships : -
Demat Services Demat Services :

Yes

Demat Services : -
Website Website :

https://www.indiainfoline.com

Website : -
Contact Details Contact Details :

022-400710000

Contact Details : -
Total Number of Clients Total Number of Clients :

389623

Total Number of Clients : -
Total Number of Branches Total Number of Branches :

900

Total Number of Branches : -
Products * Products :

Investment banking, institutional broking, retail broking, private wealth management, and financial product distribution, currency and commodity broking

Products : -

IIFL vs Mdirect Leverage

Leverage

IIFL Mdirect
Equity Delivery Equity Delivery :

Upto 3x (18% Annual Interest)

Equity Delivery : -
Equity Intraday Equity Intraday :

Upto 20x

Equity Intraday : -
Equity Futures Equity Futures :

Upto 3x

Equity Futures : -
Equity Options Equity Options :

3x for shorting

Equity Options : -
Currency Futures Currency Futures :

Upto 2x

Currency Futures : -
Currency Options Currency Options :

2x for shorting

Currency Options : -
Commodity Futures Commodity Futures :

Upto 3x

Commodity Futures : -
Commodity Options Commodity Options : - Commodity Options : -
F&O (Eq, Curr, Comm) F&O (Eq, Curr, Comm) : - F&O (Eq, Curr, Comm) : -

IIFL vs Mdirect Orders

Orders

IIFL Mdirect
Cover Orders (CO) Cover Orders (CO) :

Yes

Cover Orders (CO) : -
Bracket orders / One Cancels Other (BO / OCO) Bracket orders / One Cancels Other (BO / OCO) :

Yes

Bracket orders / One Cancels Other (BO / OCO) : -
After Market Orders (AMO) After Market Orders (AMO) :

Yes

After Market Orders (AMO) : -
Buy Today Sell Tomorrow (BTST) * Buy Today Sell Tomorrow (BTST) :

Yes

Buy Today Sell Tomorrow (BTST) :

Yes

Sell Today Buy Tomorrow (STBT) * Sell Today Buy Tomorrow (STBT) :

Yes

Sell Today Buy Tomorrow (STBT) :

Yes

Good Till Cancelled (GTC) * Good Till Cancelled (GTC) :

Yes

Good Till Cancelled (GTC) :

Yes


IIFL vs Mdirect Research and Advice / Trading Tips

Research and Advice / Trading Tips

IIFL Mdirect
Equity Trading Recommendation * Equity Trading Recommendation :

Yes

Equity Trading Recommendation : -
Equity Investment Recommendation * Equity Investment Recommendation :

Yes

Equity Investment Recommendation : -
Recommendation basis risk Profile * Recommendation basis risk Profile :

Yes

Recommendation basis risk Profile : -
Comparison * Comparison :

Yes

Comparison : -
Free Tips * Free Tips :

Yes

Free Tips : -
Daily Market report * Daily Market report :

Yes

Daily Market report : -
ETF research * ETF research :

Yes

ETF research : -
Quarterly Results * Quarterly Results :

Yes

Quarterly Results : -

IIFL vs Mdirect Franchisee / Authorized Person related information

Franchisee / Authorized Person related information

IIFL Mdirect
Availability for franchisee / AP Availability for franchisee / AP :

Yes

Availability for franchisee / AP : -
Investment required for Franchisee / AP Investment required for Franchisee / AP :

Rs.75,000 to Rs.2,00,000

Investment required for Franchisee / AP : -

IIFL vs Mdirect Product & Services

IIFL and Mdirect both offer a host of Products & Services for a better trading experience for their clients. Their comparative analysis is in the below table:

IIFL Mdirect
Delivery Based Trading * Delivery Based Trading :

Yes

Delivery Based Trading : -
Margin Trading * Margin Trading :

Yes

Margin Trading : -
Call in Trade * Call in Trade :

Yes

Call in Trade : -
Trading in Both the exchanges * Trading in Both the exchanges :

Yes

Trading in Both the exchanges : -
Limit Order * Limit Order :

Yes

Limit Order : -
3-in-1 On-line Trading Account * 3-in-1 On-line Trading Account :

No

3-in-1 On-line Trading Account : -
NRI Services * NRI Services :

Yes

NRI Services : -
SMS Alerts * SMS Alerts :

Yes

SMS Alerts : -
Offers Multiple Plan * Offers Multiple Plan :

Yes

Offers Multiple Plan : -
IPO Investment * IPO Investment :

Yes

IPO Investment : -
Portfolio Analysis * Portfolio Analysis :

Yes

Portfolio Analysis : -
Advanced Charting Features * Advanced Charting Features :

Yes

Advanced Charting Features : -
Brokerage Calculator * Brokerage Calculator :

No

Brokerage Calculator : -
Margin Calculator * Margin Calculator :

No

Margin Calculator : -
Stop Loss Order * Stop Loss Order :

Yes

Stop Loss Order : -
Bracket Orders & Trailing Stop Loss * Bracket Orders & Trailing Stop Loss :

Yes

Bracket Orders & Trailing Stop Loss : -
Equity Future & Option Trading * Equity Future & Option Trading :

Yes

Equity Future & Option Trading : -
Currency Future & Option Trading * Currency Future & Option Trading :

Yes

Currency Future & Option Trading : -
Market Trading * Market Trading :

Yes

Market Trading : -
Monthly & Yearly Plan * Monthly & Yearly Plan :

No

Monthly & Yearly Plan : -
Aumtomated Trading * Aumtomated Trading :

No

Aumtomated Trading : -

IIFL vs Mdirect Customer Services

IIFL and Mdirect both offer a host of Customer service options to their clients to quickly solve their queries or grievances if any. Their comparative analysis is in the below table:

IIFL Mdirect
Toll Free Number * Toll Free Number :

No

Toll Free Number : -
Live Chat Facility * Live Chat Facility :

No

Live Chat Facility : -
Email Facility * Email Facility :

Yes

Email Facility : -
Branch Offices * Branch Offices :

Yes

Branch Offices : -
Customer Care * Customer Care :

Yes

Customer Care : -
Community Service * Community Service :

Yes

Community Service : -
Relationship Manager * Relationship Manager : - Relationship Manager : -
24/7 Support * 24/7 Support :

No

24/7 Support : -

IIFL vs Mdirect Other Investement

IIFL and Mdirect both offer a lot of investment avenues apart from Stock trading on their platforms to their clients to make a better trading experience. Their comparative analysis is in the below table:

IIFL Mdirect
Commodity Trading * Commodity Trading :

Yes

Commodity Trading : -
Investment in ETFs * Investment in ETFs :

Yes

Investment in ETFs : -
Investment in Mutual Funds * Investment in Mutual Funds :

Yes

Investment in Mutual Funds : -
Investment in Bonds * Investment in Bonds :

Yes

Investment in Bonds : -
Investment in Corporate Debt instruments * Investment in Corporate Debt instruments :

Yes

Investment in Corporate Debt instruments : -
Insurance Services * Insurance Services :

Yes

Insurance Services : -
Banking Services * Banking Services :

No

Banking Services : -

IIFL vs Mdirect Trading PlatForm

IIFL and Mdirect both offer a host of Trading Platform for a better trading experience for their clients. Their comparative analysis is in the below table:

IIFL Mdirect
Web Platform * Web Platform :

Yes

Web Platform : -
Android Mobile App * Android Mobile App :

Yes

Android Mobile App : -
Desktop Windows * Desktop Windows :

Yes

Desktop Windows : -
Desktop Mac * Desktop Mac :

No

Desktop Mac : -
I-Pad App * I-Pad App :

Yes

I-Pad App : -
Virtual Trading * Virtual Trading : - Virtual Trading : -
iPhone Mobile App * iPhone Mobile App :

Yes

iPhone Mobile App : -
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