so i know if you have a service and you can install iptv bundle and use the same acc/linked acc on plex from your phone to get plex with iptv.
what i want to ask is if i can just install plex (free version) on my phone without linking it to any server or other accs just use it as a standalone and have options of iptv in channels from where i can upload my M3U list.. is it possible? my phone is not jailbroken
I haven't tried such a thing personally, but if this requires an additional plugin to be installed onto your iphone, the answer would be no.
You mention you want to use the plex app as stand alone, meaning no plex server.
There is no real reason to do what you are trying to accomplish. There are lots of iptv options for your iphone and a simple m3u program will work just as good (or better).
Is your intention to try to share an iptv account which aren't meant to be shared?
Why not just get stalkertv app for your iphone (awesome app!) if you're using a stalker based server, and if not grab something else for m3u