Compare stock brokers
Prabhudas Lilladher 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 Prabhudas Lilladher and IIFL. Please find a thorough comparison study for both the stock brokers, and find the table below for the comparison of Prabhudas Lilladher and IIFL.
Overview
Prabhudas Lilladher is private company and IIFL is public company. both are full service broker as well. Arun Sheth co-founded Prabhudas Lilladher in 1984. And IIFL was founded in the year 1995 by Nirmal Jain. Prabhudas Lilladher's headquarters are in Mumbai, Maharashtra and IIFL's headquarters are in Mumbai, India.
Prabhudas Lilladher and IIFL both are full service broker as well. Prabhudas Lilladher is registered in NA, while IIFL is registered in NSE, BSE, MCX. The total branches of Prabhudas Lilladher are Nil and the IIFL branches are 900.
| Overview | Prabhudas Lilladher | IIFL |
|---|---|---|
| Broker Type | Full Service Broker | Full Service Broker |
| Type of company | Private | Public |
| Headquarter | Mumbai, Maharashtra | Mumbai, India |
| Founders | Arun Sheth | Nirmal Jain |
| Foundation Year | 1984 | 1995 |
| Supported Exchanges | NA | NSE, BSE, MCX |
| Total branches | Nil | 900 |
Prabhudas Lilladher 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 Prabhudas Lilladher charging Rs.999 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 Prabhudas Lilladher Demat account is Rs.650 and for the IIFL Demat account is Free for 1 year & Rs.450 per annum thereafter. The Trading AMC for Prabhudas Lilladher 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 Prabhudas Lilladher and IIFL is CDSL.
| Account Opening and Demat Charges | Prabhudas Lilladher | IIFL |
|---|---|---|
| Trading Account Opening Charges | Rs.999 | Rs.1300 |
| Demat AMC (Annual Maintenance Charges) | Rs.650 | Free for 1 year & Rs.450 per annum thereafter |
| Trading AMC (Annual Maintenance Charges) | Zero | Free |
| Margin Money | Rs.25,000 Minimum | Minimum Rs.10,000 |
| Offline to Online Charges | Yes | Yes |
| Depository | CDSL & NSDL | NSDL & CDSL |
Prabhudas Lilladher 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 Prabhudas Lilladher is 0.10%, 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 Prabhudas Lilladher is 0.01% 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. Prabhudas Lilladher charge 0.01% 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, Prabhudas Lilladher charges Rs.20 per lot, and IIFL charges Rs.20 per order.
| Equity Brokerage Charges | Prabhudas Lilladher | IIFL |
|---|---|---|
| Equity Delivery Brokerage | 0.10% | Free |
| Equity Intraday Brokerage | 0.01% | Rs.20 per order or 0.05%, whichever is lower |
| Equity Futures Brokerage | 0.01% | Rs.20 per order or 0.05%, whichever is lower |
| Equity Options Brokerage | Rs.20 per lot | Rs.20 per order |
Prabhudas Lilladher 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 Prabhudas Lilladher is 0.01% 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. Prabhudas Lilladher charges Rs.10 per lot for currency options, whereas Prabhudas Lilladher charges Rs.20 per order or 0.05%, whichever is lower.
| Currency Brokerage Charges | Prabhudas Lilladher | IIFL |
|---|---|---|
| Currency Futures Brokerage | 0.01% | Rs.20 per order or 0.05%, whichever is lower |
| Currency Options Brokerage | Rs.10 per lot | Rs.20 per order or 0.05%, whichever is lower |
Prabhudas Lilladher 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. Prabhudas Lilladher charges NA for commodity trading, while IIFL charges Rs.20 per order or 0.05%, whichever is lower.
| Commodity Brokerage Charges | Prabhudas Lilladher | IIFL |
|---|---|---|
| Commodity Options Brokerage | NA | Rs.20 per order or 0.05%, whichever is lower |
Prabhudas Lilladher and IIFL Other Charges
Here are some other broker charges that should know about -
Minimum Broker Charges: Prabhudas Lilladher levies a minimum brokerage fee of Percentage of Transacton, while IIFL charges Rs.0.05 per Share brokerage fee.
Transaction Brokerage Charges: Prabhudas Lilladher levies a transaction brokerage charge of 0.00330% of Total Turnover, 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 Prabhudas Lilladher is 0.0002% of Total Turnover and for Prabhudas Lilladher 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 Prabhudas Lilladher 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. Prabhudas Lilladher charges NA and IIFL charges Rs 50 per call.
| Other Brokerage Charges | Prabhudas Lilladher | IIFL |
|---|---|---|
| Minimum Brokerage Charges | Percentage of Transacton | Rs.0.05 per Share | Transaction Brokerage Charges | 0.00330% of Total Turnover | 0.00325% of Total Turnover | SEBI Turnover Charges | 0.0002% of Total Turnover | Rs.5 per crore | Stamp Duty Charges | As per the state | As per the state | GST Charges | 18% of (Brokerage + Transaction Charges) | 18% of (Brokerage + Transaction Charges) | STT Charges | 0.0126% of Total Turnover | 0.0126% of Total Turnover | Call and Trade Charges | NA | Rs 50 per call |
Prabhudas Lilladher 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 Prabhudas Lilladher is up to Upto 2x and by IIFL it is up to Upto 5x.
Equity Intraday: Leverage for equity intraday by Prabhudas Lilladher is up to Upto 5x and by IIFL it is up to Upto 20x.
Equity Futures: Leverage for Equity Futures by Prabhudas Lilladher is up to Upto 2x and by IIFL it is up to Upto 7x.
Equity Options: Leverage for Equity Options by Prabhudas Lilladher is up to Upto 5x and by IIFL also, it is up to Upto 5x.
| Equity Leverage | Prabhudas Lilladher | IIFL |
|---|---|---|
| Equity Delivery | Upto 2x | Upto 5x | Equity Intraday | Upto 5x | Upto 20x | Equity Futures | Upto 2x | Upto 7x | Equity Options | Upto 5x | Upto 5x |
Prabhudas Lilladher and IIFL Currency Leverage
The currency futures leverage provided by Prabhudas Lilladher is up to Upto 2x, while for IIFL it is up to Upto 8x.
The currency options leverage provided by Prabhudas Lilladher is up to Upto 3x, while for IIFL it is up to Upto 5x.
| Currency Leverage | Prabhudas Lilladher | IIFL |
|---|---|---|
| Currency Futures | Upto 2x | Upto 8x | Currency Options | Upto 3x | Upto 5x |
Prabhudas Lilladher and IIFL Commodity Leverage
The commodity leverage provided by Prabhudas Lilladher is up to Upto 2x, while for IIFL it is up to Upto 8x.
| Commodity Leverage | Prabhudas Lilladher | IIFL |
|---|---|---|
| Commodity | Upto 2x | Upto 8x |
Prabhudas Lilladher 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.
| Offers | Prabhudas Lilladher | IIFL |
|---|---|---|
| Free Stock Trading Account | Yes | Yes | Free Demat Account | Yes | Yes | Flexible Plans | Yes | Yes | Brokerage Discounts | No | No | Happy Hours | No | No | 1 Month Free Plan | No | No | Holiday Offers | No | No | Referral Program | No | Yes | Zero Brokerage on Loss Trades | No | No |
Prabhudas Lilladher and IIFL Features
Equity Trading: Prabhudas Lilladher 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: Prabhudas Lilladher and IIFL also offer you to trade in currency and commodities.
Initial Public Offering (IPOs): One of the greatest advantages of Prabhudas Lilladher and IIFL broker is that you can also invest in IPOs. Prabhudas Lilladher also has an added advantage that they provide you with robo-advisory services as well.
Trading Exposure: Different brokers provide different trading exposures. Prabhudas Lilladher offers trading exposure of up to Upto 5x, 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 Prabhudas Lilladher and IIFL, you can invest in mutual funds through SIP and Lumpsum.
Forex Trading: With Forex Trading, you can trade in various international currencies. Prabhudas Lilladher and IIFL also allow you to trade in forex trading.
| Features | Prabhudas Lilladher | IIFL |
|---|---|---|
| Equity Delivery Trading | Yes | Yes | Equity Intraday Trading | Yes | Yes | Equity Futures Trading | Yes | Yes | Equity Options Trading | Yes | Yes | Currency Trading | Yes | Yes |
| Commodity Trading | No | Yes | IPO (Initial public offering) | Yes | Yes | Stocks Suggestions | No | No | Robo Advisory | Yes | No | PMS (Portfolio Management Services) | Yes | Yes |
| Trading Institution | No | No | Trading Exposure | Upto 5x | Upto 20x | Mutual Funds | Yes | Yes | SIP (Systematic Investment Plan) | Yes | Yes | Forex Trading | No | No | Banking | No | No | Insurance | Yes | No |
Prabhudas Lilladher 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. Prabhudas Lilladher 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 Services | Prabhudas Lilladher | IIFL |
|---|---|---|
| Fundamental Reports | No | Yes |
| Research Reports | No | Yes |
| Company Reports | No | Yes |
| Annual Reports | No | Yes |
| Company Stock Review | Yes | Yes |
| Free Stock Tips | Yes | Yes |
| IPO Reports | No | Yes |
| Top Picks | Yes | Yes |
| Daily Market Review | No | Yes |
| Monthly Reports | No | Yes |
| Weekly reports | No | Yes |
| Offline Advisory | Yes | Yes |
| Relationship Manager | Yes | Yes |
Prabhudas Lilladher 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. Prabhudas Lilladher 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 Platforms | Prabhudas Lilladher | IIFL |
|---|---|---|
| Windows | Yes | Yes |
| Mac | Yes | Yes |
| Desktop Browser | Yes | Yes |
Prabhudas Lilladher and IIFL Mobile Trading Platforms
Prabhudas Lilladher and IIFL offer you mobile trading platforms which can be used in iOS and Android applications.
| Mobile Trading Platforms | Prabhudas Lilladher | IIFL |
|---|---|---|
| Mobile Browser | Yes | Yes |
| Android App | Yes | Yes |
| iOS App | Yes | Yes |
| Windows App | No | No |
| Other mobile os | No | No |
Prabhudas Lilladher 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. Prabhudas Lilladher 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 Features | Prabhudas Lilladher | IIFL |
|---|---|---|
| Relationship Manager | Yes | Yes |
| Offline Trading | Yes | No |
| Online Trading | Yes | Yes |
| 24 * 7 Support | No | No |
| Email Support | Yes | Yes |
| Chat Support | No | Yes |
| Toll free number | No | No |
| Support Branches | 35 | 120 |
Prabhudas Lilladher 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 Prabhudas Lilladher and IIFL registered and resolved complaints.
For Prabhudas Lilladher, 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 Prabhudas Lilladher is better than IIFL in case of resolving customer complaints.
| BSE Complaints | Prabhudas Lilladher | IIFL |
|---|---|---|
| BSE Complaints | 3 | 145 |
| BSE Resolved Complaints | 3 | 144 |
| Percentage of resolved BSE complaints | 100.00 % | 84.14 % |
| NSE Complaints | 5 | 214 |
| NSE Resolved Complaints | 5 | 212 |
| Percentage of resolved NSE complaints | 100.00 % | 99.07 % |
| BSE/NSE Complaint vs. Resolved Percentage | 100.00 % | 91.60 % |
Frequently Asked Questions
Is Prabhudas Lilladher better than IIFL?
Prabhudas Lilladher 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.
Is IIFL better than Prabhudas Lilladher?
IIFL and Prabhudas Lilladher 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.
Which is cheaper between Prabhudas Lilladher and IIFL?
Prabhudas Lilladher 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.
Which is better, Prabhudas Lilladher and IIFL?
To figure out which of the two stockbrokers, Prabhudas Lilladher and IIFL, is better, compare their brokerage charges, trading platforms, other expenses, research, account opening charges, and so on.
Compare Prabhudas Lilladher with other stock brokers
Visit the following pages to see a detailed comparision report of Prabhudas Lilladher 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.