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IDBI Direct Review 2023

Rated 3.5 stars Rated 3.5/5 by Top Share Brokers Team
Last updated on: 18-Nov-2022
IDBI Capital Review
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  • IDBI Direct Review 2023 - Quick Summary

    Open an integrated 3-in-1 trading account with IDBI Direct to trade in a hassle-free manner. Multiple platforms for trading across devices, stock trading tips, ideas and research reports, NRI trading, and advisory services are the reasons to choose IDBI Capital as a preferred trading partner.


    Rated 3.5 stars

    IDBI Direct Top Highlight for 2023

    • An integrated 3-in-1 account offering.
    • Free demat & trading account.
    • Flat brokerage of Rs 15 per order F&O trading.
    • Multiple platforms; IDBI Direct mobile app, web, and Infinity desktop terminal.
    • In-depth research reports and advisory services.
    • NRI trading is available.

    About IDBI Direct

    IDBI Capital Market & Securities or IDBI Direct, a subsidiary of IDBI Bank is a Mumbai-based fully integrated financial service provider that offers retail broking in equity, futures & options, currencies, IPO, and also distributes third-party products like mutual funds, and fixed income products. Incorporated in 1993, with a net worth of 3 billion, the broker has 200 employees serving customers offline at 14 branches in 14 different cities in India. Let’s find out more about IDBI Direct Review 2022 including its account opening charges, brokerage, trading platforms, margin/exposure, customer care details, and pros & cons.

    Being a bank-based full-service brokerage house, it boasts a 3-in-1 account opening service, Demat + Trading + Bank Savings account. The unique 3-in-1 Demat account offering allows IDBI Capital customers to trade hassle-free with a smart fund transfer mechanism.

    Open a free account today, and trade in equity and currency derivatives at just Rs 15/order flat brokerage fee. The model loudly speaks about its competitive pricing structure. Not just the brokerage but it has the best platforms for trading including the Infinity desktop terminal, IDBI Direct mobile app, and a trading website.

    IDBI Direct offers research services including morning reports, model portfolios, investment guides, Stock Ideas/ technical picks, and derivative reports. The team of industry-experienced specialists further provides wealth advisory services to NRIs, high-net-worth individuals (HNIs), Ultra HNIs, and corporate clients.

    Zerodha Promotion Offer

    Current promotion offer from Zerodha for TopShareBrokers Visitors:

    • Free Delivery Trading
    • Max Rs. 20 per order brokerage on intraday,F&O,Commodities and Currency
    • Free Direct Mutual Funds and IPO Investment
    • Kite & Coin - Number one Trading platform and Mobile App
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    Request call back from Zerodha

    IDBI Direct Brokerage Plan, Fees and Charges

    Rated 3 stars Brokerage and Commission Rated 3/5

    The best part is that despite IDBI as a bank-based full-service broking house, the brokerage or pricing model is really competitive. Its brokerage model comprises of percentage-based charges on intraday (MIS) and delivery (CNC) trading, and flat brokerage on futures & options trading.

    IDBI Capital charges 0.20% on investment in shares listed on the BSE and NSE, and 0.02% on equity day trading. Trading in equity futures, equity options, currency futures, and currency options is charged at a flat brokerage fee of Rs 15 per order.

    Enjoy value-added offerings like a dedicated relationship manager, free call & trade, and get free research reports with the broker.

    IDBI Direct Account Opening Charges

    Trading Account Opening Charges: Free
    Trading Account AMC: Free
    Demat Account Opening Charges: Free
    Demat Account AMC: Rs 350 PA [Free for 1st year]

    IDBI Direct Brokerage Plan with closest competitors

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

    Broker IDBI Direct 5paisa Zerodha Upstox Paytm Money
    Service Type Full Service Broker Discount Broker Discount Broker Discount Broker Discount Broker
    Brokerage Range 0.02% to 0.20% Rs 20 Rs 20 Rs 20 Rs 15
    Account Type 3 in 1 2 in 1 3 in 1 3 in 1 2 in 1
    Equity Delivery 0.20% Flat Fee Rs 20 Free 2.5% or Rs 20 whichever is lower 2.5% or Rs 15 whichever is lower
    Equity Intraday 0.02% Flat Fee Rs 20 0.03% or Rs 20 whichever is lower 0.05% or Rs 20 whichever is lower 0.05% or Rs 15 whichever is lower
    Equity Futures Flat Rs 15 per order Flat Fee Rs 20 0.03% or Rs 20 whichever is lower 0.05% or Rs 20 whichever is lower 0.02% or Rs 15 whichever is lower
    Equity Options Flat Rs 15 per order Flat Fee Rs 20 Flat Fee Rs 20 Flat Fee Rs 20 Flat Fee Rs 15 per order
    Commodity NA Flat Fee Rs 20 Flat Fee Rs 20 Flat Fee Rs 20 NA
    Currency Futures Flat Rs 15 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 15 per order Flat Fee Rs 20 Flat Fee Rs 20 Flat Fee Rs 20 NA
    Rating
    Rated 3.5 stars
    Rated 4 stars Rated 4.5 stars Rated 4.5 stars Rated 4 stars

    Other Charges

    • Call & Trade Charges: Free
    • RMS Auto Square Off Charges: NA
    • Hidden Charges: NA

    For complete brokerage charges and trading plans detail please visit IDBI Direct Brokerage Charges.

    Please refer unique and accurate IDBI Direct Brokerage Calculator


    Type of Account offered by IDBI Direct

    Residents and NRIs can open a 3-in-1 account (Demat + Trading + Bank A/c) with IDBI Direct stockbroker for a hassle-free fund transfer process and start paperless trading and investing journey. You can open an account with IDBI capital online or offline as per your choice.

    IDBI Direct Demat and Trading Account

      IDBI Capital is a fully-integrated bank-based financial service provider and a DP with CDSL and NSDL that offers a 3-in-1 trading account, a combined platform of Demat account, a Trading Account, and a Bank Savings account with any of the partner banks; IDBI, HDFC, Axis, and ICICI Bank.

      IDBI Capital Demat & trading account enables you to trade in shares, derivatives, currencies, IPO, and mutual funds. It also provides En-cash, E-margin, collateral sell, and equity SIP services. Further, its research offerings include stock trading tips, investment ideas, derivative reports, and portfolio recommendations.

      Does IDBI Direct offer free account? Yes, it charges zero demat & trading account opening fees from clients. Demat maintenance charges is also pretty low of Rs 350 charged annually from 2nd year onwards.

    IDBI Direct NRI Trading Account

    Yes, NRIs can trade with IDBI Capital by opening an NRI 3-in-1 account (Trading + Demat + NRE/NRO Bank account). NRI clients can buy/sell shares, trade-in equity futures & options, invest in IPO and mutual funds, and access research reports coverage, portfolio management, and advisory services.

    IDBI Direct NRI 3-in-1 account features;

    • Integrated platform for Bank + Demat + Trading Account.
    • Multiple investment options.
    • Trade on app, web, and desktop-based software.
    • Faster trade execution with a 3-in-1 account.
    • Advisory services are backed by in-depth research by specialists.

    How to open IDBI Direct Account online?

    Start with the Insta paperless Quick KYC-based account opening process that hardly takes about maximum of 15 minutes to open an account with IDBI Direct.

    Steps to open IDBI Direct trading and Demat account online;

    1. Enter your mobile number and proceed with OTP.
    2. Provide your name, and email ID, and verify with email OTP.
    3. Begin with PAN verification by inserting your PAN number.
    4. The system will fetch details automatically, simply verify it.
    5. Choose your trading preference and brokerage plan.
    6. Now share your aadhaar details via connect to DigiLocker.
    7. Enter your 12-digit UIDAI aadhaar number and OTP.
    8. Digitally signs the form and complete the IPV Self-declaration video using a microphone & web camera.
    9. Upload scanned copies of the required document checklist.
    10. The process is complete and within a couple of hours, the team will send the IDBI trading account login credentials to your respective email address.

    If you are an existing customer but your trading account is deactivated then you can go through the account activation process to reactivate it.

  • Free Demat Account
  • 100% Free Delivery Trade
  • Online Account Opening
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    IDBI Direct Mobile App and Trading Platforms

    Rated 4 stars Trading Platforms Rated 4/5

    IDBI Direct has a full-fledged developers’ team to design the best user-centric remote trading platforms to deliver the best value to traders and investors. It facilitates trading on the IDBI Direct mobile app, website, and infinity platform. Here is a list of all the platforms along with the salient features;

    IDBI Direct Mobile App

      Trade with a lightweight, easy-to-operate, and feature-rich IDBI Direct’s app with intuitive features. Tracking live market indices, real-time stock price movement, creating multiple watchlists, one-tap order placement, monitoring your portfolio, tracking your positions, accessing intraday charts with a wide range of technical studies, in-depth fundamental and technical analysis, everything you will find on the IDBI Direct mobile app.

      The app is available for free to be downloaded on Apple iOS, iPad, iPod, and Android devices.

    IDBI Capital Web Trading Platform

      IDBI Direct technical experts have developed a trading website that works comfortably on any supported browser. The browser-compatible web platform allows you to trade in diversified asset classes including shares, F&O, and currencies. You can create multiple customizable watchlists (upto 50 scrips in each), check top 5 buy and sell bids, monitor your investment, access real-time charting options, and also integrated with in-built hotkey functionality.

      You can trade with the IDBI Direct web platform using your smartphone, desktop, or laptop devices.

    IDBI Direct Infinity Trading Terminal

      Infinity is an installable desktop trading terminal for day traders, heavy-volume traders, or frequent traders. Keeping into account active traders requirements, the software is loaded with a range of charting functionality, technical studies, drawing tools, alerts, real-time order placement with quick order execution rate, personalized watchlists, and get company’s research & advisory reports including tips, and stock recommendations.

      The Infinity exe-application-based software can be downloaded on your laptop or desktop to trade in all segments like shares, derivatives, and currencies.

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


    IDBI Direct Trading Pros

    • 3-in-1 account opening.
    • Zero brokerage for the first 3 months.
    • Zero AMC for the first year.
    • Competitive brokerage
    • Paperless investment in mutual funds.
    • Equity SIP facility in shares (Amount based SIP and quantity-based SIP).
    • Leverage/margin trading with E-margin.
    • Encash – BSE feature to instantly get sale proceeds.
    • Dealer-assisted trading and free call & trade
    • Place aftermarket order, bracket order, and cover order.
    • Place Good Till Date (GTD)
    • Buy today Sell Tomorrow (BTST)

    IDBI Direct Trading Cons

    • Does not offer commodity trading.
    • The user interface of the trading platforms can be improved.
    • Customer service needs a lot of improvement.

    IDBI Direct Customer Care info

    Since it is a bank-based full-service stockbroker, therefore, customers expect great, prompt, and reliable support. IDBI Capital team extends exclusive support via dedicated dealers and relationship managers, email support, a helpline number, an online web chatbot, and a network of 14 offline branches across the country.

    The broker has a toll-free number but 24*7 services are not available with IDBI Direct. Write an email or call the customer service executives on the below details;

    • IDBI Direct Customer Care Phone Number: 022-3913 5001
    • IDBI Direct Customer Support Email: [email protected]
    • IDBI Direct Knowledge Center:

    Final thought about IDBI Direct

    Rated 3.5 stars Rated 3.5/5 by 31 users

    The review is evident that IDBI Direct is serving customers including retail clients, NRIs, HNIs, and corporate clients way back since 1993. Featuring a 3-in-1 trading account, transparent & flat Rs 15 brokerage trading, research & advisory, all types of trading platforms with innovative features, and the broker’s consistent focus to add more and more features to the platforms make it a recommended broker for traders & investors.

    But customer service is a grey area that needs to work on to deliver excellent quality services. Further, it is not a broker for commodity traders as MCX trading is unavailable with IDBI Direct.

    Request call back from Zerodha

    Last updated on: 2022-11-18


    IDBI Capital User Reviews

    avatar
    5. Rajeev A Naik May 03 2022 01:56:44 AM Reply
    Lower Fees and Charges. Stable Trading platform. Quick Response Time. Excellent Customer Service.
    Most of all, longest period for puting GTDT order.

    Ratings:

    Brokerage - Excellent
    Account Maintenance Fees - Excellent
    Website Usability - Excellent
    Customer Service - Excellent
    Overall Experience - Excellent
    avatar
    4. Hareesh Mar 08 2022 12:43:20 AM Reply
    Poor customer care service

    Ratings:

    Brokerage - Average
    Account Maintenance Fees - Average
    Website Usability - Above Average
    Customer Service - Below Average
    Overall Experience - Average
    avatar
    3. P Ganesh Kumar Dec 28 2021 05:54:21 PM Reply
    There might be mismatch between the portfolio tracker and Demat for this brokerage. Not as clean as the icici tracker.

    Note from the idbi person when we pointed to the discrepency

    "We wish to inform you that you are referring to the Portfolio Tracker. The Portfolio Tracker is basically a viewing facility provided for monitoring the price movements of the stocks which is akin to the Portfolio tracker available on sites like Money Control, etc.. The Portfolio Trackers does not give the actual number of shares available in the demat a/c but is only an indicative list which can be sted to kindly refer to the contract note sent at the time of execution of trade or your demat transaction / holding statement."

    avatar
    2. swapnasaha Sep 25 2020 07:07:53 AM Reply
    GOOD

    Ratings:

    Brokerage - Excellent
    Account Maintenance Fees - Excellent
    Website Usability - Excellent
    Customer Service - Excellent
    Overall Experience - Excellent
    avatar
    1. Murli Dhar Sharma Jun 18 2016 10:36:05 AM Reply
    I want to open 3in 1 A/c For Share ,Future ,Option & Currency Trading
    .Please Mail me with your plan,My ICICI Direct 3 in 1 Account is running,I want to close icici direct 3 in 1 due to poor service & high Brokerage .