IDBI Direct, a full-service brokerage agency, is a subsidiary of IDBI Bank Ltd. It offers online trading opportunities in equities, F&O, mutual funds, and initial public offerings (IPOs).

Additionally, it offers a range of Third-Party Products, including Mutual Funds.

Here, we will do a thorough IDBI Direct Review and provide detailed information about IDBI Direct Charges so that you can make an informed financial decision.

Broker Type Full Service Broker
Active Clients 67,000+
Account Opening Charges Free
AMC Rs.350 per Year
Delivery Charges 0.50% of Transaction Value
Intraday Charges 0.05% of Transaction Value

IDBI Direct - Company Overview

Company Type

Public

Headquarters

Mumbai

Founder

Nagaraj Garla

Establishment Year

1993

Why Trade or Invest with IDBI Direct?

An IDBI Direct Account comes with many trading benefits. In recent years, they have built a solid reputation in the financial market.

Here are some of the best benefits that users can receive when they trade with IDBI Direct:

  • As a subsidiary of IDBI Bank, a well-known bank in India, IDBI Direct provides safe trading opportunities to investors.
  • Website-based and app-based remote trading options can help users trade at any moment.
  • It offers trading in all the key categories, including mutual funds, initial public offerings, equities, and futures and options for the investors.
  • Excellent customer care services are available 24*7 to resolve any issues that users may face.

IDBI Direct Brokerage Charges

Brokerage Plan

Standard Plan

Subscription Charges

Zero

Equity Delivery

0.50% of Transaction Value

Equity Intraday

0.05% of Transaction Value

Equity Future

0.05% of Transaction Value

Equity Option

Rs.50 per Lot

Commodity Future

0.05% of Transaction Value

Commodity Option

Rs.50 per Lot

Currency Future

0.05% of Transaction Value

Currency Option

Rs.50 per Lot

IDBI Direct brokerage charges are among the lowest in the industry. Low brokerage charges draw many users to invest in the share market through this share broker.

  • No account opening charges and zero subscription charges are two of the most beneficial factors for investors.
  • The standard plan comes with zero subscription charges, another aspect of IDBI Direct that customers can take advantage of.
  • 50 per Lot is the fixed rate for equity, commodity, and currency option, and equity intraday charges are 0.05% of the transaction value.

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How to Open an IDBI Direct Demat Account?

To open an IDBI Direct Demat Account, follow a few simple steps. The account opening process of this share broker is quick, and even new traders can follow the steps easily.

  • Click on the ‘Open Demat Account’ button below and enter your name, mobile number, email & city in the form.
  • You will receive a call from the company’s representative; they will share the account opening link with you.
  • Upload the essential documents, including PAN, Aadhar details, photo, bank account information, etc., and submit the form.
  • Your Demat account details will be emailed to you by the company after the verification process is completed.

Types of IDBI Direct App, Trading Platforms & Tools

Web Trading Platform

Trading Terminal

Available

Algo Trading Platform

Available

Foreign Stocks Trading Platform

NA

Basket Trading Platform

NA

Mutual Fund Investment Platform

Available

Digital Gold Investment Platform

NA

Bonds Investment Platform

NA

This IDBI Direct review will give you an idea about all the platforms and tools the company uses for trading and why those are beneficial for users.

They have a fully functional technology team that helps them adapt to new technologies quickly.

Its trading platforms, like IDBI Power Pro,  Power streaming, Power Classic, etc., are highly user-centric, and queries are resolved satisfactorily without delay to maintain customer happiness.

The web trading platform can be used anywhere, even if the internet speed is slow. Investors can invest directly in mutual funds without paying a commission.

The Algo Trading Platform, and cutting-edge trading tools, take your trading experience to a whole new level.

IDBI Direct App, Trading Platforms & Tools - Features

Wishlist

Yes

Real Time Updates

Yes

Portfolio Details

Yes

Online MF Buy

Yes

Research Reports

Yes

Global indices

No

Customised Recommendations

No

Stock tips

No

Interactive charts

Yes

Live market

Yes

Multi Profile Management

Yes

Robust & Secure Platform

Yes

IDBI Direct provides these modern trading platforms and tools to its investors.

IDBI Direct Mobile App

The IDBI Direct App is simple to install on Android and Apple devices, which is very helpful for all smartphone users.

  • Android users can install the software via the play store, while iPhone users can do the same from the apple store.
  • Users can buy or sell shares and handle their accounts from the app without wasting valuable time.
  • Multiple charts are available for market analysis so that traders can use them to make informed decisions.
  • Notifications and updates are delivered through the app, making instant trading possible for all users.
  • Instant notifications after every trade and using advanced technologies benefit investors.
  • Traders can track their portfolio status and receive real-time stock price updates.
  • The app can perform online funds transfers, and traders can see account balance and exposure margin anytime.

IDBI Power Pro

The company considered the unique requirements of the investors and traders when they designed the IDBI Power Pro trading platform.

  • This trading platform is primarily created for high-frequency traders because it offers exceptional speed. Traders rate it highly because of its dependability, features, and stock analysis.
  • It is a terminal-based trading platform and can be used from any computer. You only need your account login information to use the program after installation.
  • It can personalize market watchlists to save trading time and sends visual and audio-based notifications.
  • Multiple charts are available for checking stocks, and investors can perform real-time order tracking.

IDBI Power Streaming

The IDBI Power Streaming is a web-based trading solution accessible through any web browser:

  • Users don’t have to download or install any program on their devices to use this platform.
  • Simple one-click trade and multiple real-time charts help new users get accustomed to the share market.
  • Color-coded price sections can help the users check market conditions without mistakes.
  • The hotkey function for analysis and order placement is also available on this platform.

IDBI Power Classic

This platform is intended for new traders and investors who are just starting. As a result, more than the number of features available in it is needed for intermediate or heavy-level traders.

  • It is unquestionably one of the most straightforward and user-friendly trading platforms offered by IDBI Direct.
  • NSE and BSE Stock exchange live rates help new users make trading decisions.
  • The user can add, update or cancel orders directly from this trading platform without delay because this web-based trading platform can be used from anywhere.
  • Multiple ledgers, account notes, and contract notes are available that users can go through before making a trade.

IDBI Direct Offers

Free Account Opening

Yes

Free AMC

No

Free Brokerage

No

Flat Brokerage

No

Flexible Brokerage Plans

Yes

Happy Trading Hours

No

Free Delivery Trading

No

Free Intraday Trading

No

Free F&O Trading

No

Free Research Reports

Yes

Free Trading calls

Yes

Referral Offers

Upto Rs.500 per Client

Margin Funding / Pledging

Yes

Brokerage Cashback

No

Zero Brokerage for Loss Making Trades

No

IDBI Direct offers are user-friendly and can help new users gain confidence in trading.

  • The company has impressed many users with its zero charges for new account openings, a hugely popular offer. Many new traders have created an account to check out the share market before becoming active.
  • The company offers margin funding options and flexible brokerage plans so that traders can invest more flexibly.
  • Referral offers can help users earn up to Rs. 500, a simple pleasure many users enjoy.

IDBI Direct SWOT Analysis

Users should check out this SWOT analysis before using this share broker.

Strength 

  • The utilization of cutting-edge technology to support its core banking operations has helped the company attract modern traders.
  • It has an impactful physical presence with 18000+ employees, 1500+ ATMs, and 900+ branches across India. A higher number of outlets means more employees are available to solve complaints.
  • IDBI has top-notch asset management, capital market infrastructure, and information technology system to protect the customers financially.
  • IDBI focuses on the development and infrastructure of the Indian industrial sector, which is constantly growing.
  • It allows institutional investors to invest in government assets.

Weakness 

  • Compared to other major banking institutions, IDBI has significantly fewer branches and ATMs.
  • IDBI does not employ an aggressive sales approach which may be the reason behind its relatively low user base.
  • Individual banking services make up the majority of its revenue.

Opportunities 

  • IDBI offers lucrative global opportunities because they are concentrating on global expansion.
  • The bank has good potential in semi-urban and urban districts as industrial activity quickens across India.
  • It is the only bank in the public sector whose website has social media presence to influence tech-savvy young traders.

Threat 

  • In recent years, fraud and online scams have shaken customers’ trust in share brokers. The company must deal with worried customers and lure them back to trading.
  • It needs to raise customer satisfaction to keep its existing customer base.
  • Public and private sector banks compete fiercely with IDBI for new market expansion.

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IDBI Direct Review - Products Offered

Equity Delivery

Yes

Equity Intraday

Yes

Equity Option

Yes

Equity Future

Yes

Commodity Option

Yes

Commodity Future

Yes

Currency Option

Yes

Currency Future

Yes

Foreign Stocks

No

Mutual Funds

Yes

Banking

Yes

Insurance

Yes

Corporate Bonds

Yes

Govt. Bonds

Yes

Digital Gold

No

IDBI Direct Review - Services Provided

Demat Services

Yes

Trading Services

Yes

Intraday Services

Yes

F&O Services

Yes

IPO Services

Yes

3 in 1 Account

Yes

Stock Research

Yes

Stock Recommendations

Yes

Trading Institution

No

Share Pledging

Yes

PMS or PCG

No

NRI Services

No

IDBI Direct Research & Advisory

Fundamental Reports

Yes

Research Reports

Yes

Company Reports

Yes

Annual Reports

Yes

IPO Reports

Yes

Technical Reports

No

Stock Tips

No

Daily Top Stock Picks

No

Daily Market Review

Yes

Monthly Review

Yes

Weekly Review

Yes

Relationship Manager

Yes

Robo Advisory

No

You must open an IDBI Direct trading account to invest in the share market. The company provides advice, research, and recommendations to make trading simple for investors.

  • Fundamental reports, research reports, and company reports are available for traders so that they can personally check out the conditions.
  • It provides daily/ monthly/ weekly market reviews for customers.

IDBI Direct Margin or Exposure or Leverage

Equity Delivery

1x

Equity Intraday

Upto 5x (Depends on Stocks)

Equity F&O Carry Forward

1x

Equity F&O Intraday

1.3x

Commodity F&O Carry Forward

1x

Commodity F&O Intraday

1.3x

Currency F&O

1x

IDBI Direct margin offers additional trading exposures.

  • Depending on the equities you are trading, you could receive exposure up to five times in intraday trading.
  • For intraday commodity F&O trading, you will receive an exposure up to 1.3 times.
  • An exposure of one time for currency F&O trading.

IDBI Direct Review - Programs

Sub Broker Program

Yes

Partner Program

Yes

Referral Program

Yes

IDBI Direct Review & Rating by Finec.in

Overall Rating

7.60 / 10

Customer Support

7.57 / 10

Technology

7.70 / 10

Charges

7.63 / 10

Products & Service

7.56 / 10

Experience

7.54 / 10

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IDBI Direct Customer Support

Trading Support

Available, Free

Dedicated Dealer

Available, Free

Call Support

022-67719100

Email Support

customercare@idbi.co.in

Whatsapp Support

NA

Website Support

Facebook Support

Twitter Support

Telegram Support

NA

Branches / Offices

Available

IDBI Direct customer care offers specialized support for each client through a dedicated dealer, email support, offline trading, and online trading.

  • Trading support is free for maximum customer happiness. They have Toll-Free Numbers and Chat Support for users. However, these don’t always work efficiently enough to satisfy customers.
  • You can call 022-67719100 or email customercare@idbi.co.in for instant access to customer care facilities.
  • Website support is also available at all times.
  • It has social media support, a unique feature for share brokers. You can contact the company through Facebook and Twitter.

IDBI Direct Complaints & Feedback

Total Complaints Lodged

35

Total Complaints Resolved

28

% of Resolved Complaints

80.00%

Non Actionable Complaints

3

% of Non Actionable Complaints

8.57%

The banking broker got 46 complaints against them in the BSE and 65 complaints in the NSE in the past year. From all the IDBI Direct Complaints, 42 BSE and 59 NSE complaints were settled.


IDBI Direct Charges

IDBI Direct Account Opening Charges are zero, an offer that customers can benefit from.

Annual Maintenance Charges (AMC) are just Rs.350 for all customers.

IDBI Direct STT & CTT charges include –

  • 1% on equity delivery trades on buy and sell
  • 25% on equity intraday sell
  • 125% for equity future trade on sell
  • For the equity option, the charges are 0.0625% on the sell
  • For equity future, the charges are 0.0125% on sell
  • 01% on the sell side of commodity futures and 0.05% on commodity options (sell side)
  • There are no STT or CTT charges for currency F&O

Stamp duty charges are 0.0001% – 0.015% depending on the type of trade.

Transaction Charges also vary depending on the type of trade. These charges are between 0.0009% – 0.05%.

IDBI Direct Hidden Charges include Rs.100 reactivation charges and Rs.150 account closure charges for customers. A total SEBI turnover charge of Rs. 10 per crore of trade (All Segment) is the hidden charge.

IDBI Direct Account Opening Charges

Account Opening Charges

Free

Annual Maintenance Charges (AMC)

Rs.350 per Year

IDBI Direct STT & CTT Charges

Equity Delivery

0.1% on buy & sell

Equity Intraday

0.025% on sell

Equity Future

0.0125% on sell

Equity Option

0.0625% on sell (on premium)

Commodity Future

0.01% on sell (Non-Agri)

Commodity Option

0.05% on sell

Currency Future

Nil

Currency Option

Nil

IDBI Direct Stamp Duty Charges

Equity Delivery

0.015% on buy

Equity Intraday

0.003% on buy

Equity Future

0.002% on buy

Equity Option

0.003% on buy

Commodity Future

0.002% on buy

Commodity Option

0.003% on buy

Currency Future

0.0001% on buy

Currency Option

0.0001% on buy

IDBI Direct Transaction Charges

Equity Delivery

0.00345% (NSE) & 0.00375% (BSE)

Equity Intraday

0.00345% (NSE) & 0.00375% (BSE)

Equity Future

0.002% (NSE & BSE)

Equity Option

0.053% (on premium)

Commodity Future

0.0021% (Non-Agri) / 0.006% (Agri) / 0.0005% (Special)

Commodity Option

0.05% (Non Agri)

Currency Future

0.0009% (NSE) & 0.00022% (BSE)

Currency Option

0.035% (NSE) & 0.001% (BSE)

IDBI Direct Pledge Charges

Pledge Creation Charges

Rs.50 per Request or 0.04% of Value (whichever is higher)

Pledge Invocation Charges

Rs.50 per Request or 0.04% of Value (whichever is higher)

Interest on Margin Trading

0.07% per day

IDBI Direct Hidden Charges

SEBI Turnover Charges

Rs.10/ Crore (All Segment)

DP Charges

Rs.25 per Scrip on Sell

GST

18% on (Brokerage + SEBI + Transaction charges)

Account Closure Charges

Rs.150

Reactivation Charges

Rs.100

Dematerialisation Charges

Rs.35 per Certificate

Call & Trade Charges

Free


IDBI Direct Review – Conclusion

IDBI Direct is a well-known full-service stock broker used by amateur and experienced traders.

It has created a strong presence in the brokerage sector by offering individualized service to its clientele.

IDBI Direct review shows that its app-based trading system is behind some of its success.

Users can trade in all financial sectors, including equities, futures and options, mutual funds, and initial public offerings.


FAQs on IDBI Direct

Here is the list of FAQs related to the IDBI direct review:

Is IDBI Direct a Safe Broker?

Yes. IDBI Direct is a safe broker because it is a subsidiary of IDBI Bank. This subsidiary status makes it a reliable and trustworthy brokerage agency.

Is IDBI Direct Good for Beginners?

Yes, it is a beginner-friendly and user-friendly brokerage service that has recently gained popularity. It also offers research and consulting services, which are crucial for a new trader.

How many active clients does IDBI Direct have?

IDBI Direct has more than 67,000 active clients, a respectable number in the banking industry. It is also one of the fastest-growing stock brokers and is very popular among the younger generation.

Who is the Founder of IDBI Direct?

IDBI Direct is a subsidiary of IDBI Bank, established by Nagaraj Garla in 1993. Since then, the bank has grown considerably, adding tens of thousands of customers.

Does IDBI Direct provide Free Delivery Trading?

No, IDBI Direct does not provide free delivery trading to its clientele. Users have to pay extra charges for this service.

What are Intraday Trading Charges in IDBI Direct?

The IDBI Direct customers pay 0.05% of the transaction value as intraday trading charges.

What are IDBI Direct F&O Charges?

All users pay 0.05% of the transaction value for F&O, also known as future and options trading. This rate is prevalent for F&O services among the share brokers.

Does IDBI Direct charge for Commodity Trading?

Yes, IDBI Direct charges for commodity trading. For Commodity Future, the charges are 0.05% of the transaction value; for Commodity Option, it is Rs.50 per Lot.

Does IDBI Direct charge for Currency Trading?

Yes, IDBI Direct charges for currency trading. For Currency Future, the charges are 0.05% of transaction value; for Currency Option, it is Rs.50 per Lot.

How to contact IDBI Direct Customer Care?

To contact customer care, you need to call 022-67719100, and you can also email customercare@idbi.co.in.

Does IDBI Direct provide Research?

It offers research and advisory services, and free fundamental and technical reports are available for users.

How much is AMC in IDBI Direct?

IDBI Direct doesn’t have a free AMC offer. Users have to pay Rs.350 per year to keep using its services.

What are Account Opening Fees in IDBI Direct?

Users can open an IDBI Direct account without paying any charges. Free account opening is one of the best features of this company.

What are Pledge Creation Charges in IDBI Direct?

Pledge creation charges apply to all users of this company. Users pay Rs.50 per request or 0.04% of Value (whichever is higher).

How much are Pledge Invocation Fees in IDBI Direct?

The pledge invocation charges of IDBI Direct are Rs.50 per request or 0.04% of the value (whichever is higher).

Does IDBI Direct levy any Interest on Margin Trade Funding?

Yes, users have to pay interest on margin trade funding in IDBI Direct. The interest on margin trading is 0.07% per day.

What are DP Charges in IDBI Direct?

Traders need to pay DP charges in IDBI Direct. The charge is Rs.25 per Scrip on Sell.

Does IDBI Direct levy any Account Closure Fees?

Clients have to pay IDBI Direct to close the trading account. The account closure charge is Rs. 150.

What are Account Reactivation fees in IDBI Direct?

IDBI Direct charges its customers for account reactivation. Users need to pay Rs.100 as a reactivation charge.

What are Call & Trade Charges in IDBI Direct?

There are no call & trade charges in IDBI Direct. All users can use this service without cost.


 

Customer ratings and reviews of IDBI Direct

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