ICICI Direct Review – Charges, Trading Platforms, Demat Account, Offers & more

Check out ICICI Direct Review here. Are you looking for a reliable stock broker to start your investment journey?

If so, this ICICI Direct Review article is just the piece of information you are looking for.

This review article will not only talk about ICICI Direct Charges for trading but also help you dig deeper into the other costs, benefits, and drawbacks of the firm as a brokerage house.

Why Trade or Invest with ICICI Direct?

While there are ample reasons to choose ICICI Direct Account for all your trading needs, here are the ones you cannot ignore –

• Account opening for free: There are no charges for opening with ICICI Direct. You can open a three-in-one account for free. This may seem negligible benefit, but it can be helpful for retail investors, especially those who are starting.
• Flat Brokerage Charges: ICICI Direct, as a full-service brokerage house, offers its customers a flat brokerage plan. This acts as a boon for active traders as they can trade any units of their preferred securities per trade at just a nominal flat fee.
• Super intuitive trading platforms: ICICI Direct always comes up with new-age technology to offer the best trading platforms for its customers. It has a wide range of trading platforms that enhance its customers’ trading and investment journey.
• Ample of offers: This broker is known for offering multiple facilities all-round the year. From Happy trading hours to free research reports, ICICI Direct always try to make its customers happy and see them grow.
• All investment products under one roof: With ICICI Direct, you do not have to think twice about investing in different investment vehicles. You get everything from stocks to mutual funds to insurance products on this platform. So, planning your finances become super easy with ICICI Direct.

There are four ICICI Direct Brokerage plans for domestic investors and traders and one NRI Brokerage plan for people residing outside India.

ICICI Direct Neo

This is the flat-fee plan that is the most popular one, as, under this plan, you have to pay Rs. 20 per trade for all the segments.

Only for the Equity derivative segment, the brokerage charge is 0.27% of the transactional amount, and no charges on equity futures.

ICICI Direct Prime

This is a subscription-based plan where you need to start the plan by paying an amount which will be the subscription fee.

There are sub-plans under this plan, and the subscription fee varies as per the sub-plans. It starts from Rs.299, which is for an annual subscription, and goes up to which is for a lifetime subscription.

Under this plan, the brokerage rates are around 0.25% for the cash segment at the most, and the least is 0.1%.

Similarly, for the futures segments, the brokerage varies from 0.025% to 0.01%, and for options, it is Rs.40 to Rs.10.

So, the more subscription fee you pay, the lower will be your brokerage charges.

ICICI Direct Prepaid

This plan is similar to the Prime Plan, where you must pay a subscription fee.

Under this plan, subscription charges start at Rs.2500 and go up to Rs.10,000 all the sub-plans are for a lifetime.

The brokerage charges under this plan are again as per the sub-plan; however, they are lower than the Prime plan as the subscription charges are higher.

ICICI Direct I-Secure

A flat brokerage rate of 0.55% applies to all segments under this plan.

Since there are different plans, you must align your investment and trading plans to pick your best one.

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How to Open ICICI Direct Demat Account?

The process of opening an ICICI Direct Demat Account is super easy and quick –

• Click on the ‘Open Demat account’ tab and fill in the form with your details, like name, occupation, and other details, as required.
• Once you submit the form, the executives of ICICI Direct will reach out to you.
• Then you must upload and submit your documents like PAN, AADHAAR, and other documents as asked for KYC.
• Once ICICI Direct completes the KYC, you will receive the login details of your account on your registered email id.

However, they need to first approve the application and that will be possible if the KYC verification is successful.

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In this ICICI Direct Review, you will read about the different types of trading platforms and tools ICICI Direct offers.

It offers mobile applications for trading and investments, high-end superfast trading terminals, separate app for derivatives segments that require a lot of analysis and quick order placements.

Apart from these trading tools and apps, there is also a learning app by ICICI Direct.

Here is the list of various Apps, Platforms & Tools provided by ICICI Direct & its most essential features.

ICICI Markets App

This is the ICICI Direct App for people who wants to use their mobile/ smartphone as an investment device or tool. It is one of the fastest mobile trading platforms which offers –

• Biometric security features allow the app to open only with Face ID or fingerprint.
• The app contains Trading View Charts, which enables traders to find entry-exit and trading strategies.
• You can check all your open position in one place
• Research ideas and advisory facilities
• Advanced charts, OI graphs on the option chain
• A flash trade facility is also available on this application.

ICICI Direct i-Track

ICICI Direct offers this unique trading tool designed to help traders make wiser decisions by analyzing derivative investment options thoroughly. This platform offers –

• Live-streaming of market data with integrated charts, which are highly intuitive and advanced.
• Multiple Mas for analyzing price and market trends, support and resistance, etc.
• A payoff analyzer is there where you can build customized payoff charts for the nearest expiry of open derivative contracts position.
• One of the rare features is Greek Values that allow you to check Delta, Gamma, Theta, Vega, and other such ratios of any derivative instruments.
• You can access the market outlook as well using the Put Call Ratio

ICICI Direct Trade Racer

This is the trading terminal ICICI Direct offers its customers. It has the following features –

• Liver streaming of scrips with real-time market price
• Research calls and advisory tips
• Multiple watch lists for different asset classes
• Advanced and secure fund transfer facility
• Integrated charges
• Trading indicators of advanced level for technical analysis of securities
• Heat Maps
• Block Deals
• Bulk Orders
• Bracket Orders and a lot more

ICICI Direct Money App

This is the mobile application for mutual fund investment, mainly though it also has insurance products of ICICI Direct.

You can buy mutual funds of ICICI Direct on this platform via SIP and lump sum route. A mutual fund screener can help you find the best fund for your portfolio.

ICICI Direct i-Learn

ICICI Direct offers a unique learning experience for all its users and also everyone else. You can download the i-Learn app, which is the learning app of the brokerage house.

It has a collection of hundreds of articles on investment products, markets, strategies, and everything finance.

Then there are podcasts, webinars, videos, and much more to learn about markets, investments, and other financial products.

The ICICI Direct offers that are almost always on the tables include the following –

• There are no charges for opening Demat and trading an account with ICICI, and along with that, you get a bank account as ICICI Direct offers a three-in-one account.
• There are happy trading hours when the brokerages are low. This helps in reducing trading and investment costs.
• Ample learning resources, research papers, and reports for your fundamental analysis and market knowledge
• Referral offer of Rs.500 per client

ICICI Direct SWOT Analysis

If you want to start your investment journey with ICICI Direct, You must check out the SWOT Analysis on ICICI Direct here.

Strength

• ICICI Direct is one of the largest brokerage houses in India
• It offers advanced technology for trading and investments via its different trading platforms and tools
• Multiple brokerage plans to suit the specific needs of traders and investors
• Offers infinite learning resources, which are rarely available
• Deals in every segment, from equities to currencies to mutual funds.

Weakness

• Dependent on ICICI Bank
• Doesn’t offer Multi-profile Management
• Charges brokerage on lossmaking trades as well, while many of its peers don’t

Opportunities

• Increasing client base with people becoming aware of investment opportunities
• Brand value as one of the veterans in the industry
• Seamless technology enabling enhanced trading experience

Threat

• Highly challenging industry, especially since there is fierce competition from the discount brokers
• Geopolitical turmoil is making people shy away from the markets
• Foreign players coming to the Indian market

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Research is crucial whether you trade or invest with ICICI Direct Trading Account. So, this brokerage house, being a full-service traditional broker, offers

• All kinds of research reports, from fundamental reports to annual reports, IPO reports, and even technical reports of different stocks and other securities.
• It also offers stock tips, daily market review reports, daily stock picks, and weekly and monthly market review reports as well.

With ICICI Direct, if you are trading with a margin trading facility, then ICICI Direct Margin for –

• The Equity intraday segment is 5x, which means the amount you have in your trading account; you can use only five times the amount to purchase securities in the Equity intraday segment. Suppose you have Rs. 50000 in your trading account, but you saw XYZ share is trading cheap @ Rs. 500 per share and has enormous upside potential. So, with Rs. 50000, you can buy a total of 100 shares, but using MTF, you can buy up to 500 shares as 500 shares * Rs. 500 = Rs. 250000 which is five times the amount you have in your trading account.
• Similarly, for the other segments like Equity F&O or commodity F&O, the exposure limit is up to 1.3 times.
• For all other segments, there is no such exposure limit; you have to take a position using the funds you have in the trading account.

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ICICI Direct Customer Care is one of the most sought-after. It takes all reasonable care of its customers.

ICICI Direct offers all types of customer service facilities, from trading support free to dedicated dealer support free of cost.

Then you can call them at 18601231122 or mail them with any query at [email protected].

While at present, WhatsApp support is unavailable, and there are other social media handles of the broker where you can reach them.

To date, there are around 402 ICICI Direct Complaints that were registered across stock exchanges. Out of all these, 337 complaints have already been resolved.

The customer support is efficient and also takes necessary action to resolve issues of customers as soon as possible.

ICICI Direct Charges

While brokerage charges are the main charges that constitute the cost of trading and investment, there are certain other charges as well, which you must know before opening an account with any brokerage house.

At ICICI Direct, these charges are –

• ICICI Direct Account Opening Charges are nil, so that you can open an account for free.
• Annual maintenance charges of ICICI Direct are Rs. 300 per year
• The ICICI Direct Hidden Charges include GST of 18%, SEBI turnover charges, DP charges, and others.

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ICICI Direct Review – Conclusion

We hope this ICICI Direct Review has helped you find the answers you were looking for, picking the right broker for your investments and trading needs.

It is highly important to check all the information and compare it with other brokerage houses before you pick one.

FAQs on ICICI Direct

Here are various FAQs related to ICICI Direct Review.

Is ICICI Direct a Safe Broker?

ICICI Direct is an ICICI Group of companies with years of services in the financial industry. It is one of the most popular stock brokers in the country with SEBI registration.

It is a member of most of the major stock and commodity exchanges. So, you can trade and invest with ICICI Direct without any worry.

Is ICICI Direct Good for Beginners?

ICICI Direct offers different brokerage plans, and its Neo Plan can be suitable for beginners who are new to trading. Also, the i-Learn app or the learning resources ICICI Direct provides can greatly benefit beginners.

How many active clients does ICICI Direct have?

ICICI Direct has around more than 26 lakhs of active clients who trade on its different platforms daily.

Who is the Founder of ICICI Direct?

Vijay Chandok founded ICICI Direct in 1994. Its headquarters is in Mumbai, and branches are spread across the country.

Does ICICI Direct provide Free Delivery Trading?

No, for delivery trades on the ICICI Platform, you have to pay certain brokerage charges. The brokerage is dependent on the plan you opt for. Under the Neo plan, which is the most popular one, the delivery brokerage charge is 0.27% of the transaction.

What are Intraday Trading Charges in ICICI Direct?

As per the Neo Plan of ICICI Direct, the intraday charge is Rs. 20 flat. It is irrespective of the volume you trade.

What are ICICI Direct F&O Charges?

ICICI Direct doesn’t charge any brokerage for equity futures, while options under all the asset classes are charged at Rs. 20 per trade, and so are the commodity and currency futures.

Does ICICI Direct charge for Commodity Trading?

Yes, the commodity trading charges are Rs. 20 flat for futures as well as options.

Does ICICI Direct charge for Currency Trading?

Like commodities, currencies are also charged at Rs. 20 flat. Whether you trade 100 units or 1000 units in one trade, the brokerage will be Rs. 20 only.

Does ICICI Direct provide Research?

Yes, ICICI Direct offers various research services, reports, and resources. You can find fundamental and technical reports in one place with ICICI Direct.

How to contact ICICI Direct Customer Care?

The customer care contact number of ICICI Direct is 18601231122. You can also mail them to [email protected].

How much is AMC in ICICI Direct?

The annual maintenance charge at ICICI Direct is Rs. 300 only. The charge seems reasonable for maintaining both accounts and the bank account.

What are Account Opening Fees in ICICI Direct?

Zero. Yes, you read that right. ICICI Direct charges no amount for opening Demat and trading an account with them.

What are Pledge Creation Charges in ICICI Direct?

The Pledge creation charges in ICICI Direct is Rs. 0.02% of the transaction amount.

How much are Pledge Invocation Fees in ICICI Direct?

For invocation of Pledges at ICICI Direct, it costs 0.02% of the amount again.

Does ICICI Direct levy any Interest on Margin Trade Funding?

The interest levied on the margin availed with ICICI Direct is at the rate of 0.07% per day.

What are DP Charges in ICICI Direct?

The DPO charges at ICICI Direct is Rs. 13.5 per scrip on the sell side of the trade.

Does ICICI Direct levy any Account Closure Fees?

No, ICICI Direct doesn’t charge any fees for closing your Demat and trading account with them.

What are Account Reactivation fees in ICICI Direct?

Similarly, there are no reactivation charges for your account with ICICI Direct as well.

What are Call & Trade Charges in ICICI Direct?

The Call & trade is free for the first twenty calls in a month. After the limit is exhausted, then charges are applied.