Last Updated - 2018-12-04
Rated 4/5 based on 95 customer reviews
ICICI Direct, pioneering online trading platform of ICICI Securities, charges more than its competitors,but delivers with a fantastic platform and innovative offering and strong customer service. With these attributes, the company earns its No. 1 overall ranking as best online broker in the industry.
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The iconic brand ICICI Direct, award-winning online retail trading and investment platform from ICICI Securities -"Best Full-Service Broker in India", is one with which nearly every investor is familiar. The full-service broker was founded in the year 2000, and as of now, ICICI Direct is home to a staggering 3 million+ in total clients. From advisory services to research, active trading, customer service, ease of use, and more, ICICI Direct understands what it means to provide a high-quality offering. With ICICI Direct you have the facility to invest in Equity, Derivatives, Currency Futures, Mutual Funds, IPOs along with other services like Fixed Deposits, Loans, Tax Services, New Pension Systems and Insurance.
TO facilitate the trade ICICIDirect has unique 3-in-1 account which integrates customer's saving, trading and demat accounts - "Best Bank to Open Demat Account". Comprehensive research information, stock picks and mutual fund recommendations are other useful add on services provided by ICICI Direct to its clients. ICICIdirect.com is the first broker in India to introduce "Digitally Signed Contract Note" to its customers.
ICICI Securities has 250 offices across 66 cities in India to facilitate potential customers to open an account, speak and understand their financial plans and goals. Through ICICIdirect.com, you can trade on NSE as well as BSE.
Its 'Centre for Financial Learning' initiative offers number of online and classroom programs for retail investors. ICICIdirect Knowledge Programs provide you with an insight into a wide range of financial products like derivatives, shares, mutual funds, IPOs, small savings, and insurance.
You can do cash trading, avail margin product, margin plus product and call & trade facility and can place market and limit order while using ICICI direct.
Online Support-Insta-help, FAQs and Community have most of the answers to trader's questions.
Here we are comparing ICICIDirect with its 5 close competitors, who are currently market leader in brokerage industry.
| Broker | ICICIDirect | Zerodha | Sharekhan | SAS Online | ProStocks |
| Service Type | Full Service Broker | Discount Broker | Full Service Broker | Discount Broker | Discount Broker |
| Brokerage | 0.05 to .55% | Rs 20 | 0.1 to 0.5% | Rs 9 or 999 PM | Rs 15 |
| Account Type | 3 in 1 | 2 in 1 | 2 in 1 | 2 in 1 | 2 in 1 |
| Monthly Plans | No | No | No | Yes | Yes |
| Rating |
The full Service Broker,ICICIDirect brokerage plan is bit complex in nature.The broker offers two tier commission structure: flat rate percentage and variable percentage depending upon volume.
ICICIDirect brokerage charges for Equity Delivery, flat rate plan of .55% is high but almost in line when compared to its closest full service brokers like sharekhan offering .50%, Indiabulls securities at .30%, SBI Securities at .50%.
ICICIDirect Intraday Brokerage runs at .275% for flat rate and range from .375% for less than Rs 10 lakh to .125% for above Rs 5 crore for variable plan. It is highest in the Industry where Sharekhan, Reliance, HDFC Securities charges .10%, .05%, .10% for Intraday trade respectively.
For ICICIDirect Futures Brokerage, broker is charging .05 to .03% which comes in average range from its competitors where Sharekhan(.1% - Higher),HDFC Securities(.05% - Average),Reliance Securities(.04% Lower),Geojit(0.03% Lower).
For ICICIDirect Options Brokerage, broker is charging Rs 95 to 35 which is falling in higher range bucket sharing space with other neighbor Full service brokers,where HDFC(Rs 100 Per lot)and Sharekhan(Rs 100 Per lot or 2.5% whichever is higher). Reliance Securities (Rs 70 Per Lot) and Ventura(RS 50 Per Lot) are on lower side in industry.
Currency Future - ICICIDirect is offering third lowest among full service brokers with Rs 25 Per contract which is lower side, where sharekhan is charging Rs30 which is slightly higher and Geojit is offering between 10 to 15 Rs as lowest.
Currency Option - ICICIDirect is offering .05 to .03% as average range, where sharekhan is charging .10% which is higher range and HDFC Securities is offering Rs 23/Per lot on lowest side.
This plan is valid on Intraday Margin plus Trades which are square off in 5 minutes. When you close your intraday trade in 5 minutes, you dont have to pay any brokerage. In Such case you can save on high brokerage and do multile trades in low price movement.
This is a fixed brokerage plan irrespective of turnover volume best suited for casual traders.
This is the plan with variable brokerages as per your trading volume. The brokerage will be high if trading volume is low and brokerage will be less if trading volume is high.So this plan works well if your trading volume is high.
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| Brokerage Plan | I-Secure Plan (Percentage Based) |
| Flat Fee | NA |
| Equity Delivery | 0.55% or 55 paisa |
| Equity Intraday | 0.03% or 3 paisa |
| Equity Futures | 0.05% or 5 paisa |
| Equity Options | Rs 95 Per Lot |
| Currency Futures | 0.05% or 5 paisa |
| Currency Options | Rs 25 Per Lot |
| Commodity | NA |
For complete brokerage charges and trading plans detail please visit ICICIDirect Brokerage Charges.
For online trading with ICICIDirect, investor has to open 3-in-1 account. Following are the ways to open an account with ICICIDirect:
ICICIdirect supports web-based, terminal-based trading and mobile app based trading.
ICICIdirect com is a website based share trading site of ICICI Securities for convenient Cash Trading, Margin Trading, MarginPLUS Trading, Spot Trading, Buy Today Sell Tomorrow, IPO Investment, Mutual Fund Investment, etc. This is one of the best online trading platforms in India. ICICI Direct started the first online trading platform with the web version and reached to number 1 brokerage firm in India with highest active customers.
The power-packed Trading platform of ICICIdirect, provides an investor with Live streaming quotes & Research Calls, technical analysis and charts, integrated fund transfer system along with multiple watch list facility. This is a software-based trading platform and you need to download exe file to trade with Trade Racer.
ICICIdirect has "I mobile trader app" which is one of the best mobile app for trading and investment. This mobile app allows you to trade in equity, future and option, view latest quotes, track your portfolio and market movement, get live research calls and place an order. ICICI Direct Mobile is available in both Andriod and iOS version.
ICICIdirect.com uses the most advanced commercially available 128-bit encryption technology enabled Secure Socket Layer(SSL).
For detail review of mobile app and download please visit ICICIDirect Trading Platform Review.
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Investors while with ICICI Direct are in safe hands as it is the well reputed name in India with their presence in banking sector, Life Insurance, General Insurance and capital market.
But in today's changing Brokerage Industry where flat rate brokers or discount brokers are emerging, with availability of high speed internet, increased use of computers/mobile and customer long term desire to reduce the brokerage, big names like ICICIDirect even has to work hard for being in the business.
As far as the brokerage goes,it is a costly deal for casual inventor and day traders, because they will fall either in higher bucket of brokerage or constraint of minimum brokerage. The brokerage ranging from .75% to .25% and minimum brokerage charges ranges from Rs 35 or 2.5% with ICICI as compared to discount brokers like Zerodha,which is only Rs 20 or.01%, you may have to think twice before choosing a broker.
Customized solution, 3-in-1 account, Fund availability, best offering and stable trading platform is key of ICICI Direct. ICICIDirect Direct Zero Brokerage plan or ICICIDirect Bullet Plan is one step twoards giving some quick offers to traders. High Margin with Margin Plus prdocut is one more key advantage. For biggners no dought ICICI Direct is the best choice. For Traders and/or experiance investor ICICI Direct is still a costly deal.
If you like what you have read and want to open an trading and demat account with ICICIDirect, leave your contact information with us and we will guide you.
