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ICICI Direct

(3.9)
3.9/5

ICICI direct is one of the largest retail broker and financial product distributor in the country trusted by over 50 lakh customers. It is a part of ICICI Group which provides various investment choices such as stocks, mutual funds, bonds etc.

Products Offered By ICICI Direct

Brokerage Plans

ICICI Direct offers more than 1 plan, you can use plan switcher to see the difference in offerings, Here you find Account opening and Maintenance fees charged, Brokerage charges and Margins provided by ICICI Direct.

Additional Features:

Some other extra features provided by ICICI direct. 

Additional Investment Options:

ICICI direct also provide services for investing in these fields.

Pros

Strengths of this Broker:

  1. ICICI Direct offers research-based financial advice on all asset classes.
  2. ICICI Direct provides one of the best trading environments because all accounts are from ICICI and very well integrated.
  3. VTC (Valid Till Cancelled) option gives customers a chance to place buy or sell limit orders which will remain valid for 45 days.
  4. ICICI Direct allows you to manage your own demat and bank accounts through same platform. hence, provides one with the best trading environments because all accounts are from ICICI and very well integrated.
  5. ICICI Direct provides investment in multiple asset class (like: IPOs, Mutual Funds, Bonds, and Postal Savings Schemes) all in one platform.
Cons

Area of improvements in the Broker: 

  1. ICICI direct brokerage is high although the brokerage can be brought down by subscribing to ICICI direct Prime or prepaid brokerage plans.
  2. Higher brokerage charges for trading in penny stocks.
  3. High AMC charges (varies with plan you choose).
  4. Minimum brokerage charge as per the standard I-Secure Plan is very high for traders who do not trade frequently.
  5. ICICI direct charges Rs. 25 for call & trade (after the first 20 free calls in a month).

Customers Feedback for ICICI direct

We provide our unbiased reviews on the bases of costumer service, overall usability and performance of the broker. Our reviews are based on both positive and  negative aspects so that you can have better understanding of a broker.

Overall Performance
3.9
3.9/5

Trading Tools Provided By ICICI direct:

ICICIdirect website is the most used online investment and trading website in India for over 2 decades. ICICIdirect website offers online trading and demat accounts, IPO, SIPs, mutual funds, insurance, and many other products. The website also offers research and recommendations.

Trade Racer is a trading platform which provides you with Live streaming quotes & Research Calls, integrated fund transfer system along with multiple watch list facility. It provides a single platform for trading in all segments. Also provides advanced charting features, access to trading calls and research reports, and quick fund transfer and payout facility.

A mobile trading application offered for both Android & iOS users. The simple and user-friendly interface is helpful for both traders and investors. The app offers features such as stocks movement with real time quotes. Apart from stocks & mutual funds, customers can also invest in bonds, FDs, Insurance, NPS, and even apply for loans through this app.

Charges Details:

For Equity :-

CHARGES DELIVERY INTRADAY FUTURES OPTIONS
Transaction Charges
NSE - 0.00325%
NSE - 0.00325%
NSE - 0.0019%
NSE - 0.05%
Demat Transaction Charges
Sell side, ₹ 18.5 per scrip
-
-
-
Clearing Charges
-
-
NSE - 0.0002%
NSE - 0.005%
GST
18% on Brokerage + Transaction + Demat Charges
18% on Brokerage + Transaction
18% on Brokerage + Transaction + Clearing Charges
18% on Brokerage + Transaction + Clearing Charges
STT
₹ 100 per Lacs
Sell-side, ₹ 25 per Lacs
Sell-side, ₹ 10 per Lacs
Sell-side, ₹ 50 per Lacs
SEBI Charges
₹ 15 per crore
₹ 15 per crore
₹ 15 per crore
₹ 15 per crore

For Commodity:-

CHARGES FUTURES OPTIONS
Transaction Charges
0.0026% (Non Agri)
-
Clearing Charges
0.00%
0.00%
GST
18% on Brokerage + Transaction
18% on Brokerage + Transaction
STT
Sell-side, 0.01% for Non Agri
Sell-side, 0.05%
SEBI Charges
₹ 15 per crore
₹ 15 per crore

For Currency:-

CHARGES FUTURES OPTIONS
Transaction Charges
NSE - 0.0009%, BSE - 0.00022%
NSE - 0.04%, BSE - 0.001%
Clearing Charges
NSE - 0.0004%; BSE - 0.0004%
NSE - 0.025%; BSE - 0.025%
GST
18% on Brokerage + Transaction
18% on Brokerage + Transaction
STT
-
-
SEBI Charges
₹ 15 per crore
₹ 15 per crore

18% GST applicable on Plan Charges:-

Prepaid Plan (Lifetime) Money % Margin / Futures % Options (Per Lot) Currency Futures & Options Commodity Futures
₹ 5000
0.25
0.025
₹ 35
₹ 20 per order
₹ 20 per order
₹ 12500
0.22
0.022
₹ 30
₹ 20 per order
₹ 20 per order
₹ 25000
0.18
0.018
₹ 25
₹ 20 per order
₹ 20 per order
₹ 50000
0.15
0.015
₹ 20
₹ 20 per order
₹ 20 per order
₹ 1,00,000
0.12
0.012
₹ 15
₹ 20 per order
₹ 20 per order
₹ 1,50,000
0.09
0.009
₹ 10
₹ 20 per order
₹ 20 per order

Frequently Asked Questions (FAQ)

Is ICICI Direct Free?

Opening a trading account with ICICI direct is free of cost irrespective of the plan you have chosen. However, the other charges like brokerage, maintenance, margin, other charges depend upon the product, segment and the plan you have chosen.

Is ICICI Direct is a good for beginner?

ICICI Direct provides a range of trading and investment options as well as offers free research and advisory services, hence

ICICI Direct is a good choice for:

  • Beginners who need hand-holding and convenient trading experience.
  • Customers who prefer 3-in-1 account for hassle-free investing.
  • An investor who invests casually in the stock market.
  • Customer who prefers going to the nearby branch office for customer services.

What are ICICI direct charges?

ICICI direct offers stock trading account and Demat account services. The Demat account opening charges, trading account opening charges, trading account maintenance charges are free of cost.

NOTE: ICICI direct demat account maintenance charges (AMC) is Rs 700. However, these charges depend upon the product and plan you have chosen.

What is ICICI demat account minimum balance?

ICICI Direct requires you to maintain a minimum balance of Rs.20,000 in your Demat or Trading Account in terms of minimum Margin Money.

What are the brokerage charges of ICICI direct?

ICICI Direct offers 4 brokerage plans to customers. The ICICI brokerage charges depend on the type of plan that you’ve chosen.

  • I-Secure Plan
  • ICICIDirect Neo Plan
  • Prepaid Plan
  • Prime Plan

Which brokerage plan is best in ICICI direct?

ICICI Direct serves three types of brokerage plans to its customers. You can choose the one best suited for your financial needs.
ICICI Direct Prime Plan: The prime plan is aimed at reducing brokerage charges for investors and also helps transfer money instantly in their bank account when selling shares.
This plan also provides exclusive research services to its members. Three prime plans - Rs.900, Rs.4500 and Rs.9500 are available to customers, and each of these plans offers an upfront reduction in ICICI brokerage across all equity and derivative products. All of these plans are valid for 365 days.

ICICI Direct Prepaid Brokerage Plan: This plan offers discounted brokerage rates when you pay an upfront onetime fixed fee. There are 6 types of prepaid plans available, where each plan has a validity of 15 years.

I-Secure Plan (Flat brokerage Plan): This plan offers Flat Brokerage (in %) irrespective of the turnover value and is best suited for investors who are looking for secured and fixed brokerage.

ICICI Direct Neo Plan: ICICI direct Neo is the discounted brokerage plan offered by ICICI direct. This is a one-time subscription plan and is valid for lifetime. ICICI direct Neo is revolutionary new-age brokerage plan offering Zero Brokerage on Futures, Rs. 20 per order on unlimited Options and Equity Intraday trades.

How to open ICICI direct demat online?

To open an account with ICICIDirect, follow either of the steps below:
Online Process:
Click on ‘Open an Account’

  1. Fill an online registration form.
  2. Then, select 'Apply Online - Resident Account'.
  3. Fill the online application form and submit it.
  4. Once you submit all the forms and supporting documents, in most cases, it may take up to 7 working days for the account to get activated.

Offline Process:
Visit the nearest ICICI Bank branch in your city and fill in the application for opening an account. Many branches of ICICI Bank offer the ICICIDirect 3-in-1 account opening, which is the quickest way to open an account with ICICIDirect.

What is ICICI direct 3 in 1 Trading account?

The 3-in-1 online trading account gives you the convenience of opening a online trading, demat & bank account. You can view live share price, do share trading on NSE and BSE, trade in Futures & Options, Currencies, invest in Mutual Funds, IPOs and Life Insurance through our seamless and secure 3-in-1 online trading account.

Advantages of ICICI direct 3-in-1 account?

  1. Integrates your banking, trading and demat account.
  2. Single window for all your investment needs.
  3. Live streaming quotes with Trade Racer.
  4. Accessibility on multiple platforms for trading like web, mobile and call-n-trade (Place order over the phone).
  5. Distinguished Brokerage Plans for various Products.
    10. What is eATM in ICICI Direct?
    In a normal settlement cycle, the money is credited on T+2 working day excluding holidays. ICICI Direct Equity ATM (eATM) is a facility wherein you will receive the money from selling shares in 30 minutes into your trading account (not bank account).
    Key Features of eATM orders:
  6. Money credited in 30 minutes of the sell
  7. The credit of up to Rs 1 Crore per day (amount varies by the plan)
    Note: The credit available through eATM is only available in your trading account. This fund can be used to buy shares or paying margin for intraday trading. The funds are not available in your bank account and thus you cannot withdraw the funds.