ICICIDirect is retail trading and investment service from ICICI Bank (Founded in 2000). With over 3 million satisfied customers across India, ICICI Direct is the largest retail stock broker company in India. ICICI Direct has over 250 offices across 66 cities in India, and hence they can easily support retail customers in face to face mode in almost cities across India.
ICICI Direct offers a one stop solution for all financial services for customers in India. These services includes but are not limited to advisory services, easy to use trading platform for active trading, option to invest in financial products like Stocks, Mutual funds, New Pension System, IPO’s, OFS, Intraday trading, derivvtions, currency and lot more.
One of the biggest advantages of ICICI bank is that it offers three-in-one( 3 in 1 ) account. Hence customer’s bank account, trading account & Demat account are well integrated for easier funds transfer.
ICICI Demat and Account Opening Charging
Below are the details of charges for opening ICICIDirect trading account and ICICI Demat account opening & annual maintenance fees of these accounts.
|ICICIDirect Trading Account Opening charges||Rs 975||Once|
|ICICIDirect Trading Account Maintenance charges (AMC)||Not applicable||Not applicable|
|ICICIDirect Demat Account opening charges||Not applicable||Once|
|ICICIDirect Demat Account Maintenance charges||Rs 700||Yearly|
ICICIDirect Brokerage Plans
ICICI Direct empowers customers by offering them multiple kinds of brokering schemes and clients can opt for a plan which meets his individual requirements account. You can also change brokerage plans once your account has been created ICICIDirect.
ICICI Direct I-Secure plan
I Secure offers fixed brokerage irrespective of trading turnover or trading frequency. If you are an Investor with a quarterly turnover of less than Rs 50 lakhs this plan will suit you.
|Brokerage Plan||Trading Segment||Brokerage percentage of turnover.|
|I-Secure Plan||Stocks Delivery||0.50% of trade turnover.|
|I-Secure Plan||Stocks Intraday||0.050% of trade turnover.|
|I-Secure Plan||Stocks Futures||0.050% of trade turnover.|
|I-Secure Plan||Stocks Options||Rs 95 Per Lot|
|I-Secure Plan||Currency Futures||0.050% of trade turnover.|
|I-Secure Plan||Currency Options||Rs 25 Per Lot|
To understand the brokerage charged, let us take an example.
If you buy & sell shares of Infosys worth rupees two lakhs same day (Intraday Trade), brokerage charged would be:
Buy Amount – Rs 100000
Sell Amount – Rs 100000
Total TurnOver – Rs 200000
Brokerage Paid ( via ICICI Direct I Secure Plan ) = 200000 * .050% = Rs 100 ( + taxes )
ICICI Direct I-Saver plan
I-Saver plan offers a variable brokerage and is based on the concept “Trade more and Pay Less”. Hence with this plan the more you trade, the lesser brokerage you pay. The brokerage is dependent upon the total eligible turnover per quarter ( four months period ).
It’s worth noting that on the date of the transaction, brokerage charged would be highest for the segment. At the end of the month, ICICIDirect would do a refund calculation, and if you trade has exceeded the slab, you will receive a refund of brokerage charged.
Delivery Based Trades.
|Account||Total Eligible Turnover ( Per Quarter )||Segment||Brokerage|
|ICICI Direct I-Saver||Less than Rs.25 Lakhs||Stock Delivery||0.75% of turnover|
|ICICI Direct I-Saver||Rs.25 Lakhs to 50 Lakhs||Stock Delivery||0.55% of turnover|
|ICICI Direct I-Saver||Rs.50 Lakhs to 1 Crores||Stock Delivery||0.45% of turnover|
|ICICI Direct I-Saver||Rs.1 Crores to 2 Crores||Stock Delivery||0.35% of turnover|
|ICICI Direct I-Saver||Rs.2 Crores to 5 Crores||Stock Delivery||0.30% of turnover|
|ICICI Direct I-Saver||Above Rs. 5 Crores||Stock Delivery||0.25% of turnover|
|Account||Total Eligible Turnover ( Per Quarter )||Segment||Brokerage|
|ICICI Direct I-Saver||Less than Rs.25 Lakhs||Intraday||0.375% of turnover|
|ICICI Direct I-Saver||Rs.25 Lakhs to 50 Lakhs||Intraday||0.275% of turnover|
|ICICI Direct I-Saver||Rs.50 Lakhs to 1 Crores||Intraday||0.225% of turnover|
|ICICI Direct I-Saver||Rs.1 Crores to 2 Crores||Intraday||0.175% of turnover|
|ICICI Direct I-Saver||Rs.2 Crores to 5 Crores||Intraday||0.150% of turnover|
|ICICI Direct I-Saver||Above Rs. 5 Crores||Intraday||0.125% of turnover|
ICICI Direct Lifetime Prepaid Brokerage Plan
ICICIDirect launched prepaid brokerage plan for active traders who execute high turnover trades on a daily value. With this plan, traders get discounted brokerage rates and save on transaction cost. The Prepaid brokerage plan is valid for 15 years and at the end of 15 years, you will receive the unutilized brokerage back into your bank account.
|Prepaid Plan (Rs)||Brokerage for Delivery Stocks||Brokerage for Stocks Intraday & Futures||Brokerage for Stocks Options.( Per lot )||Brokerage for Currency Futures||Brokerage for Currency Options.|
|Rs 10000||.45%||0.040%||Rs 70||0.040%||Rs 20|
|Rs 25000||.35%||0.035%||Rs 55||0.035%||Rs 16|
|Rs 50000||.30%||0.030%||Rs 45||Nil||Nil|
|Rs 75000||.25%||0.025%||Rs 35||Nil||Nil|
|Rs 100,000||.20%||0.020%||Rs 25||Nil||Nil|
|Rs 200,000||.15%||0.015%||Rs 20||Nil||Nil|
|Rs 300,000||.12%||0.012%||Rs 15||Nil||Nil|
If you are interested in opting for lifetime pre-paid plan, below are some points which you should remember:
- The balance in your prepaid brokerage account is non-refundable and non-transferable during the validity period.
- There is no interest paid on the Prepaid brokerage plan.
- The amount paid under the Prepaid plan is advanced brokerage and cannot be used for trading and paying applicable statutory taxes like STT, transaction charges etc.
ICICIDirect Trading Platform
ICICIDirect.com is the trading website developed by ICICI Securities. By using this site, investors have access to complete suite of investment products including Online stock trading, Mutual Fund, IPO, Futures and Options(derivatives), Fixed Deposit, Bonds, NCD and much more ( all from one login)
ICICIDirect has been a pioneer in bringing technology to India; they introduced “Digitally Signed Contract Note” which later became an industry standard. ICICIDirect.com uses 128 SSL based encryption for secure trading.
ICICIDirect has invested heavily in infrastructure, and hence the website is blazing fast with nearly 100% uptime during all trading hours.
ICICI Trade Racer Desktop Software
Trade Racer is a desktop trading application developed by ICICI Securities. Using the app, you can trade in all segments of BSE and NSE.
The advantages of TradeRacer are as follows:
Market Scanners – The software includes market scanners which provide real-time access to trends scanner and live scanner. Using the Trends-canner, you can quickly view all trending scripts in one window and make your investment/trading decision. Using the live scanner, customers can easily see identify stocks which are making new highs or lows at one spot.
Industry leading User experience – User interface of trade racer is completely customizable and trendy. Users have the option of further personalizing the color combinations to meet their individual needs.
Trade Racer includes features like Heat Map, advance decline ratio, bulk & block deals scanner and much more. The purpose of these tools is that customers should have all required information ( and more ) while executing the trades.
ICICI Direct Mobile Trading Applications
Using ICICI Direct mobile applications, you will be able to trade in Equities and derivatives ( F&O ). The application includes charts for in-depth analysis, custom watchlist and live streaming quotes which would help you make an informed trading/investing decision.
The ICiCiDirect mobile application is available for Android, IOS and Windows-based mobile devices.
Our recommendation ICICI Direct
We would recommend opening an account with ICICI direct if you need a reliable trading platform with an excellent trading research team, awesome face-2-face support and you do not mind paying little higher brokerage for these services.
As indicated above, the biggest downside of ICICIDirect is that brokerage charges are high and hence if you are an experienced trader, we would recommend that you stay away from ICICIDirect.
It’s worth noting that ICICIDirect typically runs special offers for customers who open the trading account with big account opening checks. We would recommend that you try ICICIDirect if you are starting investing because in starting you will need considerable support and ICICIDirect has the infrastructure in place which would help you.
What has your experience been while dealing with ICICI Securities, share in comments section. Also, if you have any questions, please share in the comments section and we will get back as soon as possible.