ABOUT ICICI Direct
ICICI Direct is a retail trading and provides investment service from ICICI Securities. It is the largest retail stock brokering firm in India that offers a wide range of investment to the retail and institutional customers. ICICI Securities is part of ICICI Group. ICICI Securities provides these services to more than 20,00,000 customers through ICICI Direct.
Their website offers a complete suite of investment products such as Mutual Fund & IPO, Online Equity Trading, Fixed Deposit, Bond, Derivatives Trading, NCD, wealth products, Home Loans, etc. ICICIdirect.com is one of the most visited investment portals in India.
It provides a 3-in-1 account, which includes ICICI Bank Account, ICICI Demat Account and ICICI Trading Account offering for retail stock market investors in India. It is very simple and efficient way to invest in various financial instruments. The customers can visit any of the ICICI Bank branches or ICICIDirect offices to get in-person help on financial products. ICICIDirect provides timely pay-in and pay-out and hassle-free settlements.
ICICIDirect Rating (by the customers)
ICICI Direct’s Trading Platforms
The ICICI Direct offers two type of trading platforms:
1. Share Trading Account (for Website Based Trading)
It is mainly for buying and selling stocks at BSE and NSE. It allows Cash Trading, Spot Trading, Buy Today Sell Tomorrow, Margin Trading, MarginPLUS Trading, IPO Investment, Mutual Fund Investment, etc.
2. Trade Racer (for Trading Terminal)
It provides an investor with Live-streaming quotes and Researched Calls, multiple watch list facility and integrated fund transfer system. It provides Single Order entry page for various Equities and Derivatives, Integrated Fund Transfer System, Technical Analysis, EOD Charts and Shortcut keys for faster access.
Trade Racer Subscription Fee (under Cost of using ICICI Trading Terminal)
It is free for all those customers who give a brokerage more than Rs 750/- in a month. For others ICICI charges Rs 75/month towards this subscription.
ICICI Direct Brokerage Charges 2017
- Trading Account Opening Charges: Rs 975 (One Time)
- Trading Annual maintenance charges (AMC): NIL
- Demat Account Opening Charges: Rs 100 for Agreement Stamp Paper (One Time)
- Demat Account Annual Maintenance Charges (AMC): Rs 500 (Rs 0 for 1st year with 3 in 1 Account)
ICICI Direct offers 2-types of brokerage plans:
- I-Secure Plan (Flat Brokerage Plan)
This plan offers Flat Brokerage (in %) irrespective of the turnover value. It is good for those who are looking for at secured and fixed brokerage.
- I-Saver Plan (Variable Brokerage Plan)
The brokerage is based on trading volume that is, high brokerage for low volume and low brokerage for high volume trades. Those traders/investors who trade in high volumes and can benefit from low brokerage.
ICICi Direct Future & Future Plus Brokerage
I – Saver Plan / I – Secure Plan:
|For Equity/Currency Futures||Equity Future & Future Plus||Currency Futures|
|Total Eligible Turnover / month||Brokerage (%)||Brokerage on Second-leg of Intraday squareoff (per lot)||Brokerage on Second-leg of Intraday squareoff (per lot)|
|Above Rs 20 Crores||0.03||Rs 15||Rs 10||Rs 10 Crores to 20 Crores||0.035||Rs 15||Rs 10||Rs 5 Crores to 10 Crores||0.04||Rs 15||Rs 10||Less than Rs 5 Crores||0.05||Rs 15||Rs 10|
ICICI Margin & Margin Plus Trading Brokerage
|I – Saver Plan / I – Secure Plan|
|Total Eligible Turnover per month||Brokerage (%)|
|Above Rs 20 Crores||0.03||Rs 10 Crores to 20 Crores||0.035||Rs 5 Crores to 10 Crores||0.04||Less than Rs 5 Crores||0.05|
ICICI Direct Options Brokerage
|I – Saver Plan / I – Secure Plan|
|Brokerage in Options Total Eligible Lots / month||Flat brokerage / contract lot (Rs)||Brokerage on Second leg of Intraday square-off (per lot)|
|Above 600||65||Rs 15|
ICICI’s Other BROKERAGE Charges:
- ICICI charges min. brokerage of Rs 35 / trade or 2.5% of the trade value whichever is lower.
- It charges flat 5 paisa per share (Rs 0.05) as brokerage on stocks that are priced less than Rs 10 / share.
ICICI Depository Service Charges:
|Resident Retail for Customers and Corporate+H42+B3:I66|
|First Year AMC||Nil|
|Annual Maintenance Charges (AMC)||Rs 600 (Rs 500 for those receiving e-mail statements)|
|Buy-Market and Off-Market||Nil|
|Sell-Market and Off-Market and Redemption of MF units (%age of txn value of each ISIN)||Max. Rs 500 for debt instruments|
|Nil (if trades done on www.icicidirect.com)|
|Dematerialization||Rs 3 for each extra certificate|
|Instruction submitted through Internet (E-inst. / IVR)||0.04% (Min. Rs 25 and Max. Rs 25,000)|
|Instructions submitted through the Call-Centre||0.04% (Min. Rs 30 and Max. Rs 25,000)|
|Instructions submitted at the Branches||0.04% (Min. Rs 35 and Max. Rs 25,000)|
|Instructions submitted through the Call-Centre||Nil|
|Instructions submitted at the Branches||Rs 10 per ISIN (accepted at Client’s risk)|
|Dematerialization||Rs 50 for each request form|
|Re-materialization||Rs 25 for every hundred securities or parts|
|thereof, subject to max. fee of Rs 300000 or|
|flat fee of Rs 25 / certificate (whichever is higher)|
|Reconversion of MF units||Rs 25 per instruction|
|Closure of Account||Nil|
|Pledge Creation/Confirmation/ Invocation/Closure||0.02% (Min. of Rs 25 to Max. of Rs 25,000)|
|(Percent of value for each ISIN in each request)|
|ICICI Bank as the counter party|
|ICICI Bank as non-counter party||0.04% (Min. of Rs 35 and Max. of Rs 25000)|
|Additional Account Statements||Rs 20|
|Annual Maintenance Fee for the Corporates||Rs 500 p.a. (w.e.f 1st October 2013)|
|Remat||Rs 10 for every hundred securities or part thereof, subject to max. fee of Rs 500000 or flat|
|fee of Rs 10 / certificate, whichever is higher.|
|Sell-Market and Off-Market||Rs 4.50 / debit-instruction (No charges for commercial paper and short-term debt instruments)|
|MF units Reconversion into SoA||Rs. 10 / instruction (w.e.f 1st April, 2014)|
|MF units Redemption through Participants||Rs 4.50 / instruction (w.e.f 1st April, 2014)|
|Pledge Creation||Rs 25 per instruction|
Opening an account with ICICI Securities Pvt Ltd:
For Online Stock Trading through ICICI, you need to open 3 accounts: ICICI Bank Account, ICICI Direct Trading Account & ICICI Demat Account (DP Account).
(In case you already have a bank account and demat account with ICICI, you can link them directly with the new ICICI Direct trading account)
- Visit ICICIDirect.com and then fill the “Open an Account” form.
- Call ICICI toll free number for the guidance and tell them that you are interested in opening an account with ICICI.
They usually send ICICI representatives to your house to collect all the documents and for demo.
Pros and Cons of ICICI Direct
ICICI Direct Advantages
- It has 3-in-1 account that integrates your banking, broking and demat accounts. This is truly online trading environment.
- Many other online trading companies in India which require transferring money to the towards deposits or broker’s pool. But at ICICIDirect you can manage your own demat and bank accounts through same portal ICICIdirect.com.
- Online investments in IPOs, GOI Bonds, Mutual Funds and Postal Savings Schemes all from one website.
- General Insurance is can also be available from ICICI Lombard.
- Trading is available in both BSE and NSE.
- Low bandwidth website is available for slow internet connection or for trading from mobile devices.
- You can buy or sell limit orders in equity scripts through myGTC options.
ICICI Direct ‘s Disadvantages
- The brokerage is higher and non-negotiable.
- It doesn’t offer commodity trading so you cannot trade at MCX or NCDEX.
- The Demat Account and the Bank Account has to be opened with ICICI Bank only.
- ICICI minimum brokerage charge is Rs 35 per trade.
- ICICI charges Rs 75 per month fee for using Trade Racer if the customer pays brokerage less than Rs 750/month.
- It is very difficult to trade in penny stocks because ICICI charges flat Rs 0.05 per share brokerage on stocks quoting upto Rs 10.
- ICICI Direct also charges Rs 25 per calling for call & trade after first 20 free-calls in a month.