ICICIDirect Review 2023

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ICICIDirect Brokerage Plan, Fees and Charges

Worried about high brokerage? Subscribe to ICICIDirect NEO flat discount brokerage plan that allows intraday, options, commodity, and currency derivative trading at Rs. 20 flat brokerage fee while trading in the futures segment is charged with Rs. 0 brokerage.

Apart from the NEO brokerage plan, ICICIDirect also offers Prime Plan, I-secure plan, and prepaid brokerage plan. The brokerage fee is different across all the plans and users can subscribe to any of these plans based on their choice. Check brokerage charges for all plans.

ICICIDirect Brokerage Plan with closest competitors

Here we are comparing ICICIDirect with its 5 close competitors, who are currently market leader in brokerage industry.

Broker	ICICIDirect	5paisa	Zerodha	Upstox	Paytm Money
Service Type	Full Service Broker	Discount Broker	Discount Broker	Discount Broker	Discount Broker
Brokerage Range	Rs. 20	Rs 20	Rs 20	Rs 20	Rs 20
Account Type	3 in 1	2 in 1	3 in 1	3 in 1	2 in 1
Equity Delivery	0.55%	Flat Fee Rs 20	Free	2.5% or Rs 20 whichever is lower	2.5% or Rs 20 whichever is lower
Equity Intraday	Flat Rs. 20 per order	Flat Fee Rs 20	0.03% or Rs 20 whichever is lower	0.05% or Rs 20 whichever is lower	0.05% or Rs 20 whichever is lower
Equity Futures	Free (Rs. 0 brokerage)	Flat Fee Rs 20	0.03% or Rs 20 whichever is lower	0.05% or Rs 20 whichever is lower	0.02% or Rs 20 whichever is lower
Equity Options	Flat Rs. 20 per order	Flat Fee Rs 20	Flat Fee Rs 20	Flat Fee Rs 20	Flat Fee Rs 20
Commodity	Flat Rs. 20 per order	Flat Fee Rs 20	Flat Fee Rs 20	Flat Fee Rs 20	NA
Currency Futures	Flat Rs. 20 per order	Flat Fee Rs 20	0.03% or Rs 20 whichever is lower	0.05% or Rs 20 whichever is lower	NA
Currency Options	Flat Rs. 20 per order	Flat Fee Rs 20	Flat Fee Rs 20	Flat Fee Rs 20	NA
Rating

Type of Account offered by ICICIDirect

Starting seamless trading and investing journey in the Indian stock market requires you to open an account with ICICI Direct. Read out the important types of accounts offered by the full-service brokerage firm to its customers.

ICICIDirect 3-in-1 Account

• Open a 3-in-1 account, an integrated platform of 3 accounts including ICICI direct Demat Account, Trading Account, and ICICI Bank account. If you already have an ICICI 2-in-1 means trading & demat account then you can integrate it with your ICICI Bank account. Having a 3-in-1 trading account offers instant fund transfer benefits as funds automatically get credited from your bank account to your trading account.
• If you are a non-ICICI bank user, you can open only a 2-in-1 means a trading and demat account with the broker. ICICI Securities provides free account opening services at zero account opening fees. Its trading account enables you to trade or invest in equity, derivatives, commodities, currencies, IPO, mutual funds, NCDs, fixed deposits, and more.

ICICIDirect NRI Trading Account

• Likewise, residents, the broker allows NRIs to invest in the Indian market through opening an NRI 3-in-1 account, NRI Demat & trading cum NRI bank saving account. NRIs can open either a Portfolio Investment Scheme, PIS or non-PIS trading account. NRIs can invest in stocks, derivatives, mutual funds, and IPOs on the next-gen trading platforms and tools.

How to open ICICIDirect Account online?

Open a demat and trading account with ICICIDirect online in less than 10 minutes for free. The online account activation takes a maximum of 24 working hours, and you will receive login credentials at your respective email address.

Steps to open ICICIDirect Demat Account Online

1. Head to the ICICI Direct website.
2. Click on the “Open an account” option.Zerodha No#1 Broker, Sign Up Now!
3. Enter your mobile number and enter the OTP.
4. Let’s enter PAN Card number, DOB, and email ID.
5. Select the bank account whether ICICI Bank or any other bank and proceed.
6. Now, link your bank account to the ICICI trading account.
7. The system will automatically fetch details if you are already a KYC KRA verified.
8. Verify your identity and upload documents like a canceled cheque leaf and signature.
9. Add personal details name, gender, marital status, occupation, etc.
10. Go through the In-person video verification (IPV) for verification.
11. Complete the digital e-sign process using aadhaar-based OTP.

ICICIDirect Mobile App and Trading Platforms

ICICIDirect has dedicated online trading and investing platforms for traders as well as investors. It provides all types of platforms including a trading website, mobile trading app, and trading terminal to users.

ICICIDirect Markets App

• The full-service broking firm has a free, easy-to-use, and best-in-class interactive user-interface enabled share market trading app called “Markets App” that allows trading in stocks, F&O, commodities, and IPO. The trading app is compatible with all android and iOS devices.
• The app is loaded with the best analytical tools like advanced live charting, Open Interest graphs on Option Chain, super-fast order placement, eATM feature to get cash from stock selling in just 5 minutes, and provides the best equity and derivatives research. It is a safe & secure mobile app with a biometric login feature and end-to-end encryption.

ICICIDirect Money App

• Money app by ICICI direct is an investing app in mutual funds, ELSS, Sovereign Gold Bonds, Bonds, ETFs, and insurance plans. The mobile app provides you access to 38+ leading AMCs and even provides expert recommendations and best-performing funds across all categories (equity, debt, hybrid, and ELSS). You must have a Demat account to invest in mutual funds with ICICIDirect.
• Start your paperless mutual-fund investment journey at your fingertips in just a few taps with ICICIdirect Money App. Customers can start SIP with just as low as Rs. 100 per month or invest a lump-sum amount in one go.

ICICIDirect Trade Racer Terminal

• Trader Racer is a power-packed installable trading terminal offered by the broker. The desktop trading software is a complete package of advanced features like Trend Scanner with pre-defined technical parameters to spot trading opportunities, live streaming quotes, market-depth, bulk and block deals, corporate announcement, advanced technical charting, market heatmap, and research calls, and integrated fund transfer facility.

ICICIDirect Web Trading Platform

• ICICIDirect has launched an all-new web-based HTML browser-enabled online trading platform with an improved user interface. Customers can access ICICI direct website on any supported browser to start trading in stocks, derivatives, commodities, and currencies and apply for IPOs.

For detail review of mobile app and download please visit ICICIDirect Trading Platform Review.

ICICIDirect Trading Pros

• 100% digital and paperless 3-in-1 account opening facility.
• Trade on the BSE, NSE, MCX, and invest in other products.
• Multiple brokerage plans for residents and NRI trading.
• All kinds of trading platforms across web, app, and desktop versions.
• Invest in mutual funds for free with ICICIdirect Money App.
• Expert research calls and recommendations.
• Sell stocks and get cash instantly with the e-ATM facility.
• Advanced orders like bracket order, cover order, after market order, and basket order.
• Place Valid Till Cancelled (VTC) order, valid for 45 days.
• Informative articles, blogs, videos, learn hub, and Investonomics learning platform for beginners.
• Margin funding
• Loans on securities.
• Dedicated customer services.

ICICIDirect Trading Cons

• High brokerage charges.
• The broker levies a minimum brokerage fee, which varies across brokerage plans.
• NEO flat discount brokerage plan (Rs. 20) charges a one-time subscription fee of Rs. 299.
• Mutual fund investment with ICICIDirect is not free, as it charges a lower of Rs. 30 or 1.5% on SIP transaction and Rs. 100 fees on lumpsum investment.

ICICIDirect Customer Care info

Do you need assistance? All doors are opened for you whether it be online or offline as per your choice. Email, telephonic customer care assistance, live customer assistance through Chatbot, ask iCommunity, and Web ticket or chat are the popular online communication channels while offline services are provided through physical branches. It also has a dedicated NRI customer service desk for foreign clients.

• ICICIDirect Customer Care Phone Number: 1860 123 1122
• ICICIDirect Customer Support Email: [email protected]
• ICICIDirect Knowledge Center: https://www.icicidirect.com/knowledge-center

Final thought about ICICIDirect

ICICIDirect is the best full-service brokerage house for both high-frequency traders and investors with high-speed online trading platforms (web, app, and desktop), and multiple brokerage plans. It is also a feasible choice for beginners to trade at Rs. 20 flat brokerage charges, apply for IPOs, and invest in mutual funds online. Further, research offerings and dedicated & reliable customer services make value addition for customers.

On a quick note, comparison of ICICI Direct Vs Zerodha - "India's largest broker", review evident that not just the 3-in-1 account opening but also multiple flexible brokerage plans, competitive Rs. 20 NEO flat brokerage plan, a dedicated mobile app for trading and investment, trading tips & research, and investment recommendations are the reasons to trade with ICICI Direct.

Reference Topics

ICICIDirect VTC, ICICIDirect eLocker, ICICIDirect Margin Funding, ICICI Direct Systematic Equity Plan

FAQs

ICICI Securities Pvt Ltd. User Reviews