ICICI direct, a full-service online trading and investment platform is owned by ICICI securities. We bring for you ICICI Direct Review, brokerage charges, features and other useful analysis. In short, you shall become familiar to all the important details about ICICI Direct Demat and Trading account in India.
ICICI Direct: Services Offered
ICICI direct offers wide range of services offered including:
- Online trading in equities
- Online derivatives trading
- Mutual fund investments
- Investing in IPO’s
- Investing in corporate bonds,
- Fixed deposits
- Investing in Exchange traded funds (ETFs)
- Insurance products
- Subscription to NPS (National Pension scheme)
ICICI securities started as a retail stock broker. It is one of the largest stock broker in India with a wide user base. Moreover, it has 200+ branches across India.
ICICI Direct Key Features
1. ICICI direct offers 3 in 1 account:
This includes an ICICI saving account, a Demat account and an ICICI direct account to manage various investments. A 3 in 1 account helps all your investments at one place. So, you can manage everything efficiently.
2. Unified investment dashboard:
With ICICI you can invest in stocks, mutual funds, select insurance products, fixed deposits etc. So, it provides you a unified dashboard for investments.
3. Share Trading Account:
ICICI direct provides a web based share trading account. You can use it for buying and selling of stocks on BSE or NSE. With your ICICI direct trading account you can do cash trading, margin trading, spot trading, margin plus trades. In addition to it, you can invest in IPOs as well as mutual funds.
4. Trade Racer (Trading terminal):
For active traders, ICICI provides a trading platform called Trade racer. Trade racer provides tool likes scanners, live streaming quotes, a stream of key happening in the market like bulk deals etc. Trade racer provides advanced tools like:
- Snapview: Shows 360 degree view of the scrips including advanced charts, peer comparison, bulk deals,
- Market insights: Structured pre-defined insights on stocks like high momentum stocks, bargain stocks, distressed stocks, top performing stocks etc
- Heat Maps, Bulk deals, advance/decline ratios and moving averages to help you make trading decisions
ICICI Direct Brokerage Charges
ICICI direct offers two kinds of brokerage plans to its customers.
One is a flat brokerage plan which is called I-Secure plan. Other is a variable brokerage plan called I-Saver plan.
We shall be discussing in details both these plans in detail. But, before that here is a summary of other charges on ICICI direct:
- Trading Account opening charges (one-time): Rs 975 only
- Demat account opening charges (one-time): Rs 100 only
- Demat account Maintenance charges: Rs.500 only (Nil for 1st year if 3-in-1 account)
- Trading account maintenance charges (AMC): Nil
ICICI Direct I-Secure Plan:
I-Secure plan is a flat brokerage plan. This means trader gets charged a fixed percent of his trade value irrespective of how much he trades.
Equity Charges under I-secure Plan
- Delivery (equity) : 0.55 % Flat
- Intraday ( equity): 0.275% Flat
ICICI Direct I-Saver Plan:
I-saver plan is a variable brokerage plan. This plan offers brokerage based on your trading volume. In fact, your brokerage cost reduces as your trading volume increases. So, if you are a high volume trader I-saver plan can help you reduce brokerage costs on your trades.
Equity Delivery- 0.25 % to 0.75 %
- Less than Rs 10 Lakhs – 0.75%
- Between Rs 10 lakhs to 25 Lakhs – 0.70%
- Between Rs 25 lakhs to 50 Lakhs – 0.55%
- Between Rs 50 lakhs to 1 Crore – 0.45%
- Between Rs 1 Crore to 2 Crores – 0.35%
- Between Rs 1 Crores to 5 Crores – 0.30%
- Above Rs 5 Crores – 0.25%
Equity Intraday – .0.125% to 0.375% *
- Less than Rs 10 Lakhs – 0.375%
- Between Rs 10 lakhs to 25 Lakhs – 0.350%
- Between Rs 25 lakhs to 50 Lakhs – 0.275%
- Between Rs 50 lakhs to 1 Crore – 0.225%
- Between Rs 1 Crore to 2 Crores – 0.175%
- Between Rs 1 Crores to 5 Crores – 0.150%
- Above Rs 5 Crores – 0.125%
*turnover based on trading quarter
ICICI Direct Equity Future, options, currency future & options rates
Future and options brokerage rates are same for both I secure and I-saver plan. Below are the rates offered by ICICI direct for different options:
Equity Future & Currency Future: 0.05% to .03% on monthly turnover
- Less than Rs 5 Crores – 0.05%
- Between Rs 5 Crores to 10 Lakhs – 0.040%
- Between Rs 10 Crores to 20 Lakhs – 0.035%
- Above Rs 20 Crores – 0.03%
Equity Options: Flat Rs 35 to 95 per contract lot, Brokerage on the second leg of Intraday square off- Rs 15
The below chart explains the tiers of brokerage charges for equity options:
|Total eligible lots per month||Brokerage per contract (in Rs)||Brokerage on second leg of intra day square off (in Rs)|
Currency options: Flat Rs 10 to 25 per lot, Brokerage on the second leg of Intraday square off Rs 10.
ICICI Direct Demat service charges (Depository service charges)
|Description of charge||Regular Account||Basic Service Demat account|
|Annual Maintenance charges||Rs 700|| Holding Value
Upto Rs 50000 - NIL
From Rs 50001-Rs 200001-Rs 100
|Buy( Market and off Market)||NIL ( for trades on ICICIdirect)||Nil ( For trades at ICICI direct.com|
|Re-conversion of MF units||Rs 25 per instruction||Rs 25 per instruction|
|Dematerialisation for each request form||Rs 50||Rs 50|
|Dematerialisation for each extra certificate||Rs 3||Rs 3|
|Closure of account||NIL||NIL|
|Rejection / failure of transfer instruction||Rs 30||Rs 30|
|Additional account statements||Rs 20||Rs 20|
|DIS Booklet charges||Rs 50||Rs 50|
|TIFD instruction submitted though (e-inst/IVR/Call centre)||NIL||NIl|
|TIFD instruction submitted at branch)||Rs 10||Ra 10|
ICICI Direct Demat & Trading Account: Review
ICICI Direct Pros:
- Integrated account: First and foremost, ICICI direct offers a 3 in one account. This means, you have an integrated savings account, a trading and a Demat account. This results in a seamless experience and easy money movement. You do not need to transfer money in and out of your Demat account.
- You can invest in Mutual funds, IPOs, NPS , post office schemes. Not only this, you can even put money in select insurance schemes from ICICI Lombard. Hence, you get one unified view of your investments.
- You can trade on both BSE and NSE through ICICI direct.
- You can enjoy a good support service, as described by their customers.
ICICI Direct Cons:
- High brokerage charges: With the advent of discount brokers in India, the high brokerage charges of ICICI direct has started pinching.
- Although you get to diversify your funds. But, commodity trading is not available.
- The 3 in 1 system also introduces a lock in into ICICI system. You have to compulsorily open up an ICICI savings account.
- Rs 35 per trade might seem to be high for a trader who does small trades.
- Trade racer the trading terminal is charged extra Rs 75 per month, if your brokerage is less than a threshold of 750. This adds to the total cost.
- They only offer regular mutual funds schemes and do not offer direct mutual fund schemes.
- You can put GTC (good till cancelled) orders not available with many brokers in India.
- You need to maintain minimum balance in your connected savings account.
How to Invest in Stocks from ICICI Direct?
Follow these steps to buy stocks on ICICI direct:
- Simply, Login to ICICI direct using your username and password.
- Click on Equity on trade and invest page.
- Click on allocate funds to allocate funds for trading.
- Go to place order option on the left-hand panel.
- Select cash buy or Flexi cash.
- Then select NSE or BSE.
- Enter stock name/symbol.
- Enter the quantity you want to buy.
- Now, Select order validity.
- Also, select Market order or Limit order (specify your price)
- Place your order.
- Verify your order, click on proceed.
- Check your order book.
- Your transaction done.
How to invest in Mutual funds using ICICI Direct?
- Login to ICICI direct using your username and password.
- Click on Mutual fund tab on left panel.
- Then, click on purchase under-invest now.
- Select the fund that you want to invest in by typing the name of the fund.
- Choose SIP or Lumpsum method of investing.
- Use Fund categories to shortlist the right fund.
- Review the fund details.
- Click on continue to invest.
- Add a joint holder.
- Further, add the investment amount.
- Pay through allocated fund/net banking for lump sum investments.
- Finally, review your investment.
- Click on Pay.
- That’s it!
How to open an account in ICICI direct?
1. Offline account opening:
You can visit nearest ICICI direct centre or ICICI bank branch to open up your ICICI direct account. ICICI direct account opening is done in most branches of ICICI bank. You may request for a 3 in 1 ICICI direct account. If you have an existing ICICI bank account you can convert it into a 3 in 1 account.
2. Online account opening:
You can also open up an account online on the icicidirect website. Here, are few easy steps you need to follow
- Go to icicidirect.com
- From the top navigation bar click on open an account section.
- Fill in the registration form. Select the account option you are looking to open and click submit.
- You shall get a system generated ARN number. Keep it handy since you’ll need to put it on the physical form.
- An ICICI direct executive will visit you within 2 days to get documents, your signatures and other account opening formalities.
- You would need following documents for ICICI direct 3 in 1 account opening (2 photographs, valid address proof, valid identity proof).
ICICI direct account: List of account opening documents
- 2 Photographs for self.
- One photograph for the nominee.
- Xerox self-attested copy of PAN card.
- Xerox self-attested copy of address proof (Passport, Aadhar card, driving license, lease agreement etc).
ICICI Direct Account Opening Charges
Here are the current charges for opening up an ICICI direct account:
- ICICI direct trading account (which is your trading account): Rs 975 only
- ICICI Savings account: Zero
- ICICI direct demat account : NIL
- Annual maintenance charges for your demat account : Rs 700
None of these charges are negotiable.
If you are High Net worth Individual (HNI) you may like to have a look at best portfolio management services in India.
ICICI Direct: A Final Review
ICICI direct is a reputed and safe trading platform. In addition to it, with ICICI bank account integration, it has become a user friendly experience. Moreover, it provides multiple investment options like mutual funds, FDs, NPS. Hence, this helps you build a personalized investment dashboard.
One aspect where ICICI direct lags, is providing advanced analytics and insights for trading. A lot of improvement can be done in this area.
Also, cost wise ICICI direct seems to be one of the costliest platforms, It is hard to justify the extra cost you pay for the value you get out of the platform.
Frequently Asked question on ICICI Direct
1. Are the brokerage rates negotiable for ICICI direct?
No, the brokerage rates are non-negotiable for ICICI direct. You have to pay the list price.
2. Can I use ICICI direct with another bank account?
No, you will have to open up a savings account with ICICI.
3. Is the savings account a zero balance account?
It is advertised as a zero balance account. But, you must check with your relationship manager.
4. Can I trade in commodities with ICICI direct account?
No, you cannot trade in commodities with ICICI direct account.
5. What all insurance products I can buy through my ICICI direct account?
You can buy selective insurance products offered by ICICI Lombard insurance through this account.
6. Are full-service accounts better than discount brokerages?
You get better services with full-service account. But, you need to see if the extra cost is commensurate to the value.
This is all about ICICI Direct, brokerage charges including other minute details.
This data is given on “as is” basis. The charges and conditions may vary at a later date. Kindly check with the respective stock broker before investing your money.
Disclaimer: There is a high degree of risk involved in stock trading. Mutual funds are also subject to market risk. The details given on this website is for informational purpose only. It should not be constituted as professional advice in any regard.
How did you find our ICICI Direct review? Where have you opened your Demat & trading account? Which one do you prefer: a full service or a discount broker as such? Feel free to share your feedback.