ICICI Direct: Detailed Review

Brokerage Charges, Demat/Trading Account, Trading Platforms, Products and Services, Pros and Cons, comparisons, How to apply for a Demat etc.

ICICI Direct Company Info

ICICI Direct Broking

ICICI Direct founded in 2000, is a part of ICICI Securities and offers retail trading and investment services in India. It is one of the largest full-service retail brokers in India. It has served over 50 lacs customers over the past two decades.

ICICI Direct has pioneered the 3-in-1 account that provides customers with a seamless settlement process by linking its electronic brokerage platform with customers’ savings bank and dematerialised accounts held with ICICI Bank.

The company provides more than 50 products and services like Equity, Mutual Funds, Derivatives, Futures and Options Currency, ETF, Insurance, IPOs, Corporate Fixed Deposits, Loans, NPS, Wealth Management, Corporate Services, NRI Services, Portfolio Management Services, Global Investment, Financial Learning, Tax Services etc. 

Awards:

Outlook Money Awards: ICICI Direct

  • Best Retail Broker of the year 2018,’16,’15
  • Best e-Brokerage house of the year 2014,’13,’12,’11,’09,’07

UTI CNBC TV 18 Financial Advisory Award: ICICI Direct

  • Best Performing National Financial Advisor Equity Broker 2018,’17,’15

D&B Equity Broking Awards: ICICI Direct

  • The Largest Equity e-Broking House 2015,’14,’13,’12
  • The Best Equity Broking House in the Cash Segment 2015,’14,’13,’12

Founders: ICICI Securities
Headquarters: Mumbai

Key Metrics for Evaluation

1. Brokerage Charges

TypeI -Secure PlanPrime – 299Prime – 999Prime – 1999Prime – 29995000 Prepaid12.5K Prepaid25K Prepaid50K
Prepaid
1 Lac Prepaid1.5 lac PrepaidSTT/CTTNSE TransactionBSE TransactionGSTSEBIStamp Charges
Minimum Charge₹25₹25/10/15 or 0.75%₹25/10/15 or 0.75%₹25/10/15 or 0.75%₹25/10/15 or 0.75%₹25/10/15 or 0.75%₹25/10/15 or 0.75%₹25/10/15 or 0.75%₹25/10/15 or 0.75%₹25/10/15 or 0.75%₹25/10/15 or 0.75%18%
Initial Margin₹ 25 or 2.5%0.027%0.022%0.018%0.015%0.025%0.022%0.018%0.015%0.012%0.009%18%
Equity Delivery0.55%0.27%0.22%0.18%0.15%0.25%0.22%0.18%0.15%0.12%0.09%0.1%0.0021%₹0.75 per trade18%₹5 / crore0.015%
Equity Intraday0.275%0.027%0.022%0.018%0.015%0.025%0.022%0.018%0.15%0.012%0.009%0.025%0.0021%₹0.75 per trade18%₹5 / crore0.03%
Equity Futures0.05% / ₹50/-0.027%0.022%0.018%0.015%0.025%0.022%0.018%0.015%0.012%0.009%0.01%0.0009%₹0.75 per trade18%₹5 / crore0.002%
Equity Options₹95 / ₹50 per lot₹40 per lot₹35 per lot ₹25 per lot₹20 per lot₹35 per lot₹30 per lot₹25 per lot₹20 per lot₹15 per lot₹10 per lot0.05%0.05% on premium₹0.75 per trade18%₹5 / crore0.002%
Currency Futures₹20 per order /
₹2 per lot
₹20 per order₹20 per order₹20 per order₹20 per order₹20 per order₹20 per order₹20 per order₹20 per order₹20 per order₹20 per order0.0009%₹0.75 per trade18%₹5 / crore0.0001%
Currency Options₹20 per order₹20 per order₹20 per order₹20 per order₹20 per order₹20 per order₹20 per order₹20 per order₹20 per order₹20 per order₹20/- per lot0.05% on premium₹0.75 per trade18%₹5 / crore0.0001%
Commodity Futures₹20 Per Order₹20 per order₹20 per order₹20 per order₹20 per order₹20 per order₹20 per order₹20 per order₹20 per order₹20 per order₹20 per order0.01%0.0021%₹0.75 per trade18%₹5 / crore0.002%
Commodity Options₹95 / ₹50 per lot₹40 per lot₹35 per lot₹25 per lot₹20 per lot₹35 per lot₹30 per lot₹25 per lot₹20 per lot₹15 per lot₹10 per lot0.05%0.05% on premium₹0.75 per trade18%₹5 / crore0.002%
eATM Limit2.5 lac10 lac25 lac1 Cr
A/C OpeningNILNIL +299*NIL +999*NIL +1999*NIL +2999*NIL + ₹5000**NIL + ₹12.5k**NIL + ₹25k**NIL + ₹50k**NIL + ₹1 Lac**NIL + ₹1.5 Lac**
Demat AMC₹700₹700₹700₹700₹700₹700₹700₹700₹700₹700₹700
Trading AMCNILNILNILNILNILNILNILNILNILNILNIL
*Yearly, **Prepaid Brokerage

2. Technology Platforms

a. Trade Racer (.exe application): Advanced Desktop Trading platform for for high-volume trades in equities, F&O, commodities, mutual funds and currency trade. It houses advanced trend scanner, detailed market tracker and customizable interface

Compatible with:

  • Desktop Windows
  • Desktop Mac

b. Trade Racer Web: Features of Trade Racer on the web browser. Light weight trade terminal for equities, F&O, commodities, mutual funds and currency trade

Compatible with:

  • Desktop Windows
  • Desktop Mac
  • Mobile – Android (mobile app available)
  • Mobile – iOS (mobile app available)
  • Tablet – Android and iOS

c. ICICI Direct Mobile App: Mobile app for day to day trade – equities, F&O, commodities, mutual funds and currency trade

Compatible with:

  • Mobile – Android (mobile app available)
  • Mobile – iOS (mobile app available)
  • Tablet – Android and iOS

3. Products

  • Equity Delivery and Intraday trading, Futures and Options
  • Currency Futures and Options
  • Commodity Futures and Options
  • Mutual Funds
  • Bonds and Sovereign Gold funds
  • ETF
  • Insurance
  • Global Investment

4. Services

  • Research Reports
  • Portfolio Management Services
  • NRI Services
  • Intra-day Cals
  • Financial Learning
  • Dedicated RM
  • Tax Services
  • Investor Meetings

5. Advisory

  • Research Report – Fundamentals, Company, Annual
  • Daily Market Reviews
  • Weekly and Monthly Reports
  • Intra-day calls
  • Stock Recommendations
  • IPO Reviews and Recommendations
  • Dedicated RM with offline advisory
  • Loan on Portfolios
  • Analyst/ Investment advisor meetings

6. Support

  • Dedicated RM
  • Online Trade Support
  • 24×7 Toll Free Service
  • 24×7 customer care
  • Email Support
  • Chat Support

Investor Suitability

  • Investors who would like to have a seamless interface across all the 3 accounts – Banking, Trading and Demat
  • Investors who trade in huge volumes and need high end technology platform for customized trade
  • Investors who need real-time trade support and are looking for advisory services and offline broker support for trade execution
  • Suitable for first time investors, – can benefit from the hassle free 3 in 1 account option and the advisory support from the broker
  • Not suitable for investors who do not need any advisory services and are just looking for a cheap platform to buy/sell shares

For a detailed comparison with other discount providers, visit our Broker Comparison page.

Pros and Cons

Pros:

  • Seamless 3-in-1 account connecting all the bank, trading and demat accounts
  • End to end advisory support with research reports and stock recommendations
  • Full-fledged customer real-time customer support across multiple channels
  • Robust technology platform enabling customization, order validity for 45 days and low bandwidth support
  • Availability of physical branches at multiple cities and towns

Cons:

  • Expensive option than many of the full service and discount brokers
  • Does not provide commodity services
  • Research recommendations might prove detrimental for new traders without a good understanding of the finer details of those recommendations
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