30+ REASONS TO TRADE WITH ICICI DIRECT
Trading and its impact are spreading like wild fire. People are getting aware of the positive aspects of having an ambitious trade setup, which is literally absent in any other jobs. Globalisation has spreaded its impact far over the trade-world too because, people are now demanding convenient online brokerage firms to have an ease and paperless transactions and trades. The hassle of formalities are been lessened to a large extent by the emerging of Online Brokerage Houses. Among the most popular brokerage firms in India, ICICI direct is till now, at the top-most row.
Pioneering the best and the largest retail stock brokering firm in India, ICICI Direct is the award winning trading arm of ICICI securities. ICICI Direct is truly an ionic brand, with which, almost all the beginners or expert traders are familiar. Inaugurating in 2000, this renowned Full-service broker is now accommodating 3 million satisfied clients. ICICI Direct has got all the essence that is needed to become a completely furnished online full-service broker. Offering investment options from Equity, Derivatives, upto NCD, wealth products, Home loans etc. ICICI Direct has a massive reach across 66 cities in India, with 250 offices, which let them facilitate potential customers, with each and every benefit available with their company.
“ICICI Direct boosts of having an active client base of 7,52,138 – the highest in the country.” This clearly reflects why ICICI Direct is the most visited online portal in India.
There are plenty of reasons that would support ICICI Direct, even though they have the greater charge than any of its other competitors. Stats and record expresses itself in support of ICICI direct. The reasons can be summed up as follows:
ICICI Direct is one stop shop for every product available in the world of trading. Equity, Derivatives, Currency, Futures, MF, Fixed Deposits, Loans, Tax Services, Pensions System, and Insurance. You now, don’t need to rush here and there to get service and investment opportunity in a special segment, which you can now get all, with just a single login. ICICI Direct only lacks the facility of commodity trading.
Unique and advantageous service, that you can be availed with ICICI Direct is the 3-in-1 account facility, offering customer’s savings, trading and demats account punched together in just a single account.
ICICIdirect.com is the first brokerage house in the country, which inaugurated the system of offering ‘Digitally Signed Contract Note’ to their valued customers via email. This is no more a unique feature as all the brokers are doing the same.
ICICI Direct is situated at almost every remote areas of the country making it easy for the common people to reach them through any of the 250 branch offices situated across the 66 cities. Local branch presence of ICICI Bank even make this one more big advantage.
Another unique feature of the ICICI Direct is the VTC or Valid Till Cancel feature, which helps customer to set trigger on the order for Buy & Sell for a definite period of 45 days. Thus their potential customers are relieved of the burden of spending time on daily basis. This is also known as GTC - Good till cancel order, which is lacking in major discount brokers like Zerodha, Upstox, SAMCO, and 5paisa.
Keeping in mind, the convenience of their customers and their suitability, ICICI Direct has designed two separate plans for them to choose from, which are as below:
Though these plans covers only Equity Delivery and Equity Intraday sections, while the others are same in both the plans.
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ICICI direct is dedicated to their customers which is evident from the fact that they have different methods to reach their customers directly. They 24/7 support via following methods:
This full-service stockbroker has low leverage and not well known to provide high exposure than what their competitor offers. There are three plans- Freedom, Pro and Ultimate, each of which has different leverages as given below:
|Equity||10 times||10 times||20 times|
|Equity Futures||4 times||4 times||8 times|
|Equity Options||1 times||1 times||3 times|
|Currency Futures||4 times||4 times||8 times|
|Currency Options||1 times||1 times||4 times|
The widest range of innovative platforms and software for trading, are offered by ICICI Direct. Starting from Mobile app named ICICI Direct Mobile, android version of same, mobile trading site, iPad app; android tablet app and even iPhone app for trading with ICICI are available. Thus it is convenient for the customers to freely abide by the custom trading facilities of ICICI at any platform they have.
Eventually the most updated and modernised feature of ICICI Direct is the Trade Racer which is an executable file. It can be installed in any machine and via that customers can carry out trading without any hassle. The features of this file is astonishing:
Even for those, who are not willing to take the burden to install any application, ICICI Direct has created a direct Trader Racer Web to trade directly into it. The aforesaid web has:
Nevertheless, these products had already won thousands of demands and earned rapid popularity. Clients who generates brokerages in 750 INR excess, gets this service for free, otherwise they required to pay 75 INR as subscription fee.
As ICICI is offering 3-in-1 account so ICICI Bank offers PIS, NRE and NRO accounts. With NRO account now NRI’s can do invest in market like resident Indians.
MarginPLUS is an intraday cover order product, where you will get extra margin for trading as you are placing cover order (specifying SLTP and a limit price) when you are placing your order, with this clients are limiting their losses or maximum downside involved in particular position, so you will get much better leverage.
ICICI Security have FuturesPLUS and OptionsPLUS product where selected script/ contract are part of this group and one can avail up to 5x to 33x margin depend on script/contract and SL price.
MarginPLUS also offer cover profit order which will allow you to protect your gains at a limit price, executed when your profit price has reached.
SEP or Systematic Equity Plan is equal to SIP in mutual fund. This is really a unique feature which lots of investors are looking for long term.
Lets discuss what is SEP?
In SEP, you decide your stocks/equity which you wish to invest in regular basis, for example, I want to buy 2 shares of TCS, 2 Share of SBI and 2 shares of NTPC every month for 2 years. In such case SEP is the best option which will do Rupee Cost Averaging for your equity investment. This approach is very common in mutual fund, but difficult to find for Equity.
It’s a more disciplined way of investing over a certain period of time, that makes it advantageous over investing in one time investment or lum-sum investment.
But it should be kept in mind, that SEP request and SEP orders are completely different terms as because the former is the authorisation that you get for placing orders, by I-Sec, whereas, the later is the actual order that you place as per instruction you feed into the online portal of www.icicidirect.com.
By virtue of this facility, anyone can buy orders for a pre-specified amount or quantity in scripts of their own choice, and of course at regular intervals that is selected by the customer only. After specifying the details like scrip, amount/quantity to be invested, and getting vided by I-sec, they will place the SEP buy orders at market price, to help customers to bring down the average cost of acquisition of shares.
In fact there are back-to-back reasons to consider unique among the entire broker house from every respects. Being an award winner broker house, usually the expectations and demands for convenient services increase. And that have been successfully managed by ICICI. There are numerous features those asides ICICI Direct from the other full service brokers, which are mentioned below:
This is one of the unique services that ICICI direct is offereing to their clients which is related to a systematic plan in investing on equity. According to SEP or Systematic Equity Plan, which is more or less equal to the SIP or systematic investments plan, you can opt for buying shares in different regiments over a pre-fixed time period, on a periodic gap. This feature is common in MF but hard to find for equity and thus this policy generally got tremendous response. Recurring investment in such a disciplined way makes it advantageous over lum-sum investments.
For the knowledge of potential customers as well as beginners, and to solve any of their doubt in the most convenient and easy manner, ICICI had laid their emphasis on the customer attending services, making their questionnaires solved in an advanced way. Some of their unique facilities comprise of the iCommunity, Instahelp, Investor Conference Call & Online and offline classroom programs. The iCommunity of ICICI Direct is generally a pool where numerous polls, questions and doubts are attended by the aid of group discussion of the customers itself. The InstaHelp is a self help tool that clarifies any doubts whenever question is fed to it. Likewise, the Conference call for investor is an extremely helpful means of getting connected to the experts in an original call-ending. These facts surely contribute to the positivity of ICICI Direct.
Irrespective of the turnover volume, ICICI Direct has imposed two separate and distinct plans for two different groups of investors- SECURE PLAN for the casual traders and SAVER PLAN For the regular traders. Both of them have variability in just Equity Delivery and Equity Intraday sections while others are the same. Depending o the term of each plan, investors can choose what is right for them.
Keeping in mind the all over technological boundaries and accessible areas, ICICI Direct has successfully created trading platform in every boundaries, be it Desktop, Mobile, Web anything. Back to back platforms, morphed with latest equipments and technologies are gifted to customers among which Trader racer web and exe. Desktop, online portal and mobile app, each and everyone has got individually the best interface and easily understandable features.
Probably the best initiative taken by the ICICI. It’s really irritating to carry the hardcopies of your documents and other liabilities with you every time when it is required for opening some account or completing other formalities. Eradicating this issue, eLocker facility is enforced that served convenience to the users to keep their softcopies stored under utmost safety and can be accessible anywhere and anytime.
With the flow of time, ICICI is upgrading their service to retain their position in the topmost position in the rank for broker houses. That’s what led them design facilities like Margin against shares, 3-in1 account, myGTC service, VTC service or Valid Till Cancellation service, and lots more uniqueness. These attractive features are bound to mesmerize customers deciding broker-house to enter trading world.
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Beyond doubt, the ICICI Direct, has got the best collection of unique features and has got all the possible aspects of trading, morphed with convenient and efficient platform. The products offered with ICICI Direct can be stated as follows:
It can no way be denied that the full-service broker has some serious qualities that would make anyone think twice before leaving their services. Number of new unique initiatives, least customer complaints, bright ratings and other properties contribute in increasing their value weight in the market. Their new period option of GTC and VTC, SIP pause for haulting your SIP investment plans, and numerous benefits are quite attractive.
But as far the market is concerned, ICICI Direct is still down trodden in some respects, that need to be amended to get a full control over the share market and drive people towards them. Being a popular broker, it’s a massive disadvantage for them to not have a toll free number, and live chat support, and options in trading in MCX and MCX-SX. The option for trading in commodity is still not enforced, and infact they too don’t have monthly and yearly plans. Despite of all the faults, the ratings and least customer complaints, tells itself, how the broker has curved itself to the level of perfection. With the aid of eLearning programmes, ICICI Direct is no doubt an all round and perfect broker, to have trust on.
Despite of these small and ignorable drawbacks, it can be easily be concludes that, ICICI Direct is far better option, both for the new-comers and usually for the experts. The complexities has been eradicated here with an advanced support systems and modernisation bound morphology of the portal of ICICI Direct.
Last updated on 5th Nov 2019