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Phillip Capital vs. IIFL

All stockbrokers charge you a fee for carrying out trading transactions. They charge you different fees for different asset classes. So, to maximize your returns and best trading experience, you need to choose the best stock broker.

Among the best stockbrokers in India, two top names are Phillip Capital and IIFL. Please find a thorough comparison study for both the stock brokers, and find the table below for the comparison of Phillip Capital and IIFL.


Overview

Phillip Capital and IIFL are both public companies and both are full service broker as well. Vineet Bhatnagar co-founded Phillip Capital in 1999. And IIFL was founded in the year 1995 by Nirmal Jain. Phillip Capital's headquarters are in Mumbai, Maharashtra and IIFL's headquarters are in Mumbai, India.

Phillip Capital and IIFL both are full service broker as well. Phillip Capital is registered in NA, while IIFL is registered in NSE, BSE, MCX. The total branches of Phillip Capital are Nil and the IIFL branches are 900.

OverviewPhillip CapitalIIFL
Broker TypeFull Service BrokerFull Service Broker
Type of companyPublicPublic
HeadquarterMumbai, MaharashtraMumbai, India
FoundersVineet BhatnagarNirmal Jain
Foundation Year19991995
Supported ExchangesNANSE, BSE, MCX
Total branchesNil900

Phillip Capital and IIFL Trading Account Opening and Demat Charges

A dematerialization account, also known as a Demat account keeps the securities in an electronic form that are deposited with National Securities Depository Limited (NSDL) or Central Depository Services Limited (CDSL).

Account opening fees for various brokers range from 0 to Rs.200, with Phillip Capital charging Rs.350 and IIFL charging Rs.1300.

When you open a Demat account, you must pay specific fees such as account maintenance fees, broker commissions, GST, and STT. When you open a Demat account, you must pay specific fees such as account maintenance charges, broker commissions, GST, and STT. So, account maintenance charges (AMC) for the Phillip Capital Demat account is Free and for the IIFL Demat account is Free for 1 year & Rs.450 per annum thereafter. The Trading AMC for Phillip Capital and IIFL is free. And the margin money for both brokers is also zero.

As we know that NSDL and CDSL are the two depositories in India registered by Indian Government which holds various securities in electronic form like stocks, bonds, etc. So, the depository for both Phillip Capital and IIFL is CDSL.

Account Opening and Demat ChargesPhillip CapitalIIFL
Trading Account Opening ChargesRs.350Rs.1300
Demat AMC (Annual Maintenance Charges)FreeFree for 1 year & Rs.450 per annum thereafter
Trading AMC (Annual Maintenance Charges)FreeFree
Margin MoneyMinimum Rs.10,000Minimum Rs.10,000
Offline to Online ChargesYesYes
DepositoryCDSLNSDL & CDSL

Phillip Capital and IIFL Equity Brokerage Charges

There are more charges that a broker charges for equity transactions.

Equity delivery charges: This means holding the stocks for a certain period of time and selling it when you make a profit. Different brokers charge different rates on Equity Delivery. The Equity Delivery charges for Phillip Capital is 0.35%, while IIFL charges you Free.

Equity Intraday: This means when you buy and sell stocks on the same day. So, the equity intraday brokerage charges for Phillip Capital is 0.04% and for IIFL also, it is Rs.20 per order or 0.05%, whichever is lower.

Equity Futures: Equity futures refers to the purchase and sale of shares at a fixed price on a future date. Phillip Capital charge 0.04% and IIFL charge Rs.20 per order or 0.05%, whichever is lower for equity futures.

Equity Options: These are contracts that allow an investor to buy or sell equities at a predetermined or strike price, (1 contract=100 shares). For equity options, Phillip Capital charges Rs.35 per Lot, and IIFL charges Rs.20 per order.

Equity Brokerage ChargesPhillip CapitalIIFL
Equity Delivery Brokerage0.35%Free
Equity Intraday Brokerage0.04%Rs.20 per order or 0.05%, whichever is lower
Equity Futures Brokerage0.04%Rs.20 per order or 0.05%, whichever is lower
Equity Options BrokerageRs.35 per LotRs.20 per order

Phillip Capital and IIFL Currency Brokerage Charges

Currency trading is also known as forex trading, which is used to buy and sell currency pairs. Most brokers offer this trading service.

Currency Future: It is also known as Foreign exchange futures. It is a type of contract where buying and selling of currencies is done on a future date at a fixed price. The Currency Futures Brokerage for Phillip Capital is 0.04% and for IIFL is Rs.20 per order or 0.05%, whichever is lower.

Currency Options: A currency option, like an equity option, is a contract that allows a buyer the right (but not the responsibility) to purchase or sell a specified currency at a fixed exchange rate on or before a particular date. Phillip Capital charges Rs.20 per Lot for currency options, whereas Phillip Capital charges Rs.20 per order or 0.05%, whichever is lower.

Currency Brokerage ChargesPhillip CapitalIIFL
Currency Futures Brokerage0.04%Rs.20 per order or 0.05%, whichever is lower
Currency Options BrokerageRs.20 per LotRs.20 per order or 0.05%, whichever is lower

Phillip Capital and IIFL Commodity Brokerage Charges

Commodity Trading: Commodity trading involves the purchase and sale of various commodities such as gold, silver, agriculture, and energy, as well as their derivative products. Phillip Capital charges NA for commodity trading, while IIFL charges Rs.20 per order or 0.05%, whichever is lower.

Commodity Brokerage ChargesPhillip CapitalIIFL
Commodity Options BrokerageNARs.20 per order or 0.05%, whichever is lower

Phillip Capital and IIFL Other Charges

Here are some other broker charges that should know about -

Minimum Broker Charges: Phillip Capital levies a minimum brokerage fee of Percentage of Transaction, while IIFL charges Rs.0.05 per Share brokerage fee.

Transaction Brokerage Charges: Phillip Capital levies a transaction brokerage charge of 0.00310%, while IIFL charges 0.00325% of Total Turnover.

SEBI Turnover Charges: Securities and Exchange Board of India (SEBI) is the market regularly and monitors fair trade practices. They also charge a small fee known as the SEBI Turnover fee. So, the SEBI Turnover charges for Phillip Capital is 0.0002% of Total Turnover and for Phillip Capital is Rs.5 per crore.

Stamp Duty Charges: This fee is charged as per the state and asset class.

GST Charges (Goods and Services Tax): GST of 18% is charged (brokerage and transaction charges)

STT (Securities Transaction Tax): The STT charges for Phillip Capital are 0.0126% of Total Turnover, while for IIFL, they are 0.0126% of Total Turnover.

Call and Trade Charges: This charge varies for different brokers. Phillip Capital charges NA and IIFL charges Rs 50 per call.

Other Brokerage ChargesPhillip CapitalIIFL
Minimum Brokerage ChargesPercentage of TransactionRs.0.05 per Share
Transaction Brokerage Charges0.00310%0.00325% of Total Turnover
SEBI Turnover Charges0.0002% of Total TurnoverRs.5 per crore
Stamp Duty ChargesAs per the stateAs per the state
GST Charges18% of (Brokerage + Transaction Charges)18% of (Brokerage + Transaction Charges)
STT Charges0.0126% of Total Turnover0.0126% of Total Turnover
Call and Trade ChargesNARs 50 per call

Phillip Capital and IIFL Equity Exposure/Leverage

With the leverage, you can trade for a much higher amount than you actually pay for it. It means to borrow money for buying securities. For example, if you want to buy stocks for Rs. 5,00,000, but have only funds of Rs. 2,00,000. Then, you can get the remaining 3,00,000 Rs. from the broker by paying them some margin amount.

Equity Delivery: Leverage provided for Equity Delivery by Phillip Capital is up to Upto 2x and by IIFL it is up to Upto 5x.

Equity Intraday: Leverage for equity intraday by Phillip Capital is up to Upto 6x and by IIFL it is up to Upto 20x.

Equity Futures: Leverage for Equity Futures by Phillip Capital is up to Upto 2x and by IIFL it is up to Upto 7x.

Equity Options: Leverage for Equity Options by Phillip Capital is up to Upto 5x and by IIFL also, it is up to Upto 5x.

Equity LeveragePhillip CapitalIIFL
Equity DeliveryUpto 2xUpto 5x
Equity IntradayUpto 6xUpto 20x
Equity FuturesUpto 2xUpto 7x
Equity OptionsUpto 5xUpto 5x

Phillip Capital and IIFL Currency Leverage

The currency futures leverage provided by Phillip Capital is up to Upto 3x, while for IIFL it is up to Upto 8x.

The currency options leverage provided by Phillip Capital is up to Upto 2x, while for IIFL it is up to Upto 5x.

Currency LeveragePhillip CapitalIIFL
Currency FuturesUpto 3xUpto 8x
Currency OptionsUpto 2xUpto 5x

Phillip Capital and IIFL Commodity Leverage

The commodity leverage provided by Phillip Capital is up to Upto 2x, while for IIFL it is up to Upto 8x.

Commodity LeveragePhillip CapitalIIFL
CommodityUpto 2xUpto 8x

Phillip Capital and IIFL Offers

Brokers offer various exciting offers to entice new customers. Here are some of them:

Free Stock Trading and Demat Accounts: many brokers offer new investors to open an account free to cost and start trading straight away with them.

Flexible Plans: attractive plans at an economical price such as ProStocks monthly plan targeting equity cash and currency F&O at Rs.899 and Rs.499, respectively.

Brokerage Discounts: Coupons providing up to 50% discount at their rates.

Happy Hours: A specific time slot where the trades/customers get broker's services at a discount.

1-month Free Plan: where brokers provide free delivery trading such as OneTradePlus.

Holiday Offers: brokers are providing their services at a discounted rate on special events such as Diwali.

Referral Program: brokers provide a discount when your family or friends sign up with the broker using your referral code.

Zero Brokerage on Loss Trade: complete refund of money on unsuccessful trades.

OffersPhillip CapitalIIFL
Free Stock Trading AccountYesYes
Free Demat AccountYesYes
Flexible PlansYesYes
Brokerage DiscountsNoNo
Happy HoursNoNo
1 Month Free PlanNoNo
Holiday OffersYesNo
Referral ProgramNoYes
Zero Brokerage on Loss TradesNoNo

Phillip Capital and IIFL Features

Equity Trading: Phillip Capital and IIFL brokers are among the top brokers in India. They provide you with various trading options like Equity Delivery, Equity Intraday and Equity Futures and Options trading.

Currency and Commodity Trading: Phillip Capital and IIFL also offer you to trade in currency and commodities.

Initial Public Offering (IPOs): One of the greatest advantages of Phillip Capital and IIFL broker is that you can also invest in IPOs. Phillip Capital also has an added advantage that they provide you with robo-advisory services as well.

Trading Exposure: Different brokers provide different trading exposures. Phillip Capital offers trading exposure of up to Upto 6x, while IIFL gives up to Upto 20x.

Mutual Funds: Investing in mutual funds is a great option to grow your wealth and many brokers offer the option to invest on that. With Phillip Capital and IIFL, you can invest in mutual funds through SIP and Lumpsum.

Forex Trading: With Forex Trading, you can trade in various international currencies. Phillip Capital and IIFL also allow you to trade in forex trading.

FeaturesPhillip CapitalIIFL
Equity Delivery TradingYesYes
Equity Intraday TradingYesYes
Equity Futures TradingYesYes
Equity Options TradingYesYes
Currency TradingYesYes
Commodity TradingNoYes
IPO (Initial public offering)YesYes
Stocks SuggestionsNoNo
Robo AdvisoryNoNo
PMS (Portfolio Management Services)NoYes
Trading InstitutionNoNo
Trading ExposureUpto 6xUpto 20x
Mutual FundsYesYes
SIP (Systematic Investment Plan)YesYes
Forex TradingNoNo
BankingNoNo
InsuranceYesNo

Phillip Capital and IIFL Advisory Services

Discount brokers and full-service brokers offer different services. Here are some of the top advisory services offered by brokers-

Fundamental Reports: These are the reports that analyse a company's financial statements and help investors and financial analysts make decisions about a company's present financial status.

Research Reports: Many broker companies have in-house research teams which are experienced and help people to give research reports on various securities like stocks, currency, mutual funds, etc. Phillip Capital and IIFL offer you in-depth research reports.

Company Reports: These are detailed and easy-to-understand reports on the company's measures throughout the year, month, or week.

Relationship Manager: Full-service broker gives a dedicated relationship manager, who will clear all your trading queries and help you throughout your trading journey.

Other Services: Many brokers provide more services depending upon the brokerage price like Company Stock Reviews, Free Stock Tips, IPO Reports, Top Picks, Daily Market Reviews, Monthly Reports, Weekly Reports and Offline Advisory.

Advisory ServicesPhillip CapitalIIFL
Fundamental ReportsYesYes
Research ReportsNoYes
Company ReportsNoYes
Annual ReportsNoYes
Company Stock ReviewNoYes
Free Stock TipsYesYes
IPO ReportsYesYes
Top PicksNoYes
Daily Market ReviewNoYes
Monthly ReportsNoYes
Weekly reportsNoYes
Offline AdvisoryYesYes
Relationship ManagerYesYes

Phillip Capital and IIFL Desktop Trading Platforms

A trader can utilise multiple trading platforms to trade in stocks, commodities, etc. A good and advanced trading platform can make your trading easier and result in profit maximization. Phillip Capital and IIFL offer a Desktop Trading Platform with advanced tools, interactive charts, and quick buying and selling of securities. Their trading platforms can be used in Windows, Mac and Desktop browsers as well.

Desktop Trading PlatformsPhillip CapitalIIFL
WindowsYesYes
MacNoYes
Desktop BrowserYesYes

Phillip Capital and IIFL Mobile Trading Platforms

Phillip Capital and IIFL offer you mobile trading platforms which can be used in iOS and Android applications.

Mobile Trading PlatformsPhillip CapitalIIFL
Mobile BrowserNoYes
Android AppNoYes
iOS AppNoYes
Windows AppNoNo
Other mobile osNoNo

Phillip Capital and IIFL Customer Support

Customer service is a critical aspect in converting a new customer into a loyal and long-term customer. Because the trading market moves quickly, an investor requires appropriate customer assistance from their brokers. Phillip Capital and IIFL give good customer support and service to their clients. They help you in online trading through chat support, e-mail support and call support.

Customer Support FeaturesPhillip CapitalIIFL
Relationship ManagerYesYes
Offline TradingYesNo
Online TradingYesYes
24 * 7 SupportNoNo
Email SupportYesYes
Chat SupportNoYes
Toll free numberNoNo
Support Branches428120

Phillip Capital and IIFL Customer Complaints

The BSE and NSE actively accept and handle complaints to maintain a stringent check and balance on fair-trade opportunities. Investors can file complaints about brokers or companies in case of any unfair trade practices. BSE and NSE make sure to resolve your complaints within a certain time. Check out the table below for Phillip Capital and IIFL registered and resolved complaints.

For Phillip Capital, the Percentage of resolved BSE complaints is 100.00 % and the Percentage of resolved NSE complaints is 100.00 %.

For IIFL, the Percentage of resolved BSE complaints is 84.14 % and the Percentage of resolved NSE complaints is 99.07 %.

We can say that Phillip Capital is better than IIFL in case of resolving customer complaints.

BSE ComplaintsPhillip CapitalIIFL
BSE Complaints2145
BSE Resolved Complaints2144
Percentage of resolved BSE complaints100.00 %84.14 %
NSE Complaints10214
NSE Resolved Complaints10212
Percentage of resolved NSE complaints100.00 %99.07 %
BSE/NSE Complaint vs. Resolved Percentage100.00 %91.60 %

Frequently Asked Questions


  1. Is Phillip Capital better than IIFL?

    Phillip Capital and IIFL are at the top among the best full service brokers. You need to look for brokerage charges, account opening fees, trading platforms, etc. to determine which one is better.

  2. Is IIFL better than Phillip Capital?

    IIFL and Phillip Capital are at the top among the best full service brokers. As a result, we must examine features such as brokerage costs, account opening fees, trading platforms, and more to determine which of them is a better stockbroker.

  3. Which is cheaper between Phillip Capital and IIFL?

    Phillip Capital and operate as full-service brokers, generally resulting in higher brokerage charges compared to discount brokers. In general, the brokerage fees for both of them will be relatively similar. Examine the brokerage fees in-depth to determine the less expensive broker for your requirements.

  4. Which is better, Phillip Capital and IIFL?

    To figure out which of the two stockbrokers, Phillip Capital and IIFL, is better, compare their brokerage charges, trading platforms, other expenses, research, account opening charges, and so on.


Compare Phillip Capital with other stock brokers

Visit the following pages to see a detailed comparision report of Phillip Capital with other brokerage firms.


Compare IIFL with other stock brokers

Visit the following pages to see a detailed comparision report of IIFL with other brokerage firms.