Broker comparison
Zerodha vs IIFL Securities (2026): Brokerage, API, AMC & Execution Compared
Side-by-side comparison of Zerodha and IIFL Securities from published official pricing and features — no affiliation with either broker.
- 3 – 0Cheaper on example trades (Zerodha – IIFL Securities)
- 4 – 5Published features (of 9)
| Metric | Zerodha | IIFL Securities |
|---|---|---|
| Delivery brokerage | ₹0 (free) | 0.25% per order (Investor Plan - Online Plus, per official rate card) |
| Intraday brokerage | ₹20 or 0.03% per order (whichever is lower) | 0.025% per order (Investor Plan - Online Plus) |
| F&O brokerage | ₹20 per order (options); ₹20 or 0.03% per order for futures (whichever is lower) | Futures 0.025% per order; options ₹25 per lot (Investor Plan - Online Plus) |
| AMC | Free first year, then ₹300 + 18% GST per year, billed quarterly (non-BSDA; ₹0 for BSDA holdings under ₹4 lakh) | Free first year, then ₹250 + GST per year |
| Account opening | Free (resident individuals); ₹500 for NRI | Free (₹0 online) |
| Trading API | Kite Connect — Personal API free; Connect (live data + historical) ₹500/month | IIFL Securities API |
| Reported execution speed | ≈ 80 ms (median) | ≈ 95 ms (median) |
| Algo support | Yes - via Kite Connect API | Yes - via IIFL trading API |
| Platforms | Kite (web), Kite (mobile), Console, Coin | IIFL Markets app, IIFL web (Trading Terminal), IIFL NEST desktop |
| Best for (published) | Self-directed investors and traders who want low, predictable costs and a stable platform. | Investors who want a full-service broker with in-house research and wide product coverage. |
Statutory charges (STT, exchange fees, GST, etc.) are not included. Figures are from official pricing pages at our last review — verify before opening an account.
Cost face-off: what real trades cost
| Trade | Zerodha | IIFL Securities | Cheaper |
|---|---|---|---|
| Intraday: ₹1 lakh buy & sell | ₹82.97 | ₹95.06 | Zerodha (saves ₹12.09) |
| Delivery: ₹50,000 buy & sell | ₹131.78 | ₹441.53 | Zerodha (saves ₹309.75) |
| Options: premium ₹100 × 75 | ₹66.43 | Not modelled | - |
| Futures: ₹24,000 × 75 | ₹1,067.15 | ₹2,083.06 | Zerodha (saves ₹1,015.91) |
Illustrative quantities. Try your own trade in the compare-all brokerage calculator.
Feature check
| Feature | Zerodha | IIFL Securities |
|---|---|---|
| Free delivery | ✓ | – |
| Zero AMC | – | – |
| Free API | – | – |
| TradingView | – | – |
| MCX commodity | ✓ | ✓ |
| Mutual funds | ✓ | ✓ |
| IPO | – | ✓ |
| Research desk | – | ✓ |
| Published speed | ✓ | ✓ |
What the published data shows
Zerodha publishes free equity delivery; IIFL Securities does not (per official pricing at review). Both publish execution-speed figures (Zerodha: ≈ 80 ms (median); IIFL Securities: ≈ 95 ms (median)) — methodologies differ; see each profile before comparing on speed alone.
Tools & profiles
- Zerodha full profile
- IIFL Securities full profile
- Zerodha brokerage calculator
- IIFL Securities brokerage calculator
- Lowest brokerage brokers in India
- All broker comparisons
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Frequently asked questions
Zerodha vs IIFL Securities: which has lower delivery brokerage?
At our last review, Zerodha published delivery brokerage as "₹0 (free)" and IIFL Securities as "0.25% per order (Investor Plan - Online Plus, per official rate card)". Plan-based or percentage pricing cannot always be reduced to a single winner — use the official pricing pages linked below.
Does Zerodha or IIFL Securities have a trading API?
Both have documented APIs at review time: Zerodha (Kite Connect), IIFL Securities (IIFL Securities API). Compare pricing and rate limits on each broker's developer page.
Which is faster — Zerodha or IIFL Securities?
Zerodha publishes ≈ 80 ms (median); IIFL Securities publishes ≈ 95 ms (median). Sources and methodologies differ (including self-reported vs third-party figures) — they are not directly comparable without reading each source.
Is Zerodha cheaper than IIFL Securities?
On our four example trades (intraday, delivery, options and futures), Zerodha is cheaper on 3, IIFL Securities on 0, and 0 are tied, with the rest not modelled from published pricing. Statutory charges are identical, so any difference comes from brokerage.
Are these comparisons independent?
Yes. Indian Broker Test is not affiliated with, sponsored by, or endorsed by any broker. Rankings and comparisons use only published official data; gaps are shown as Not Disclosed.
Sources
- Zerodha - official website - https://zerodha.com
- Zerodha - official pricing - https://zerodha.com/charges/
- IIFL Securities - official website - https://www.iiflcapital.com
- IIFL Securities - official pricing - https://www.iiflcapital.com/brokerage-charges