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IDBI Direct Review, Brokerage Charges, Demat A/C & more

IDBI Direct, also known as the IDBI Capital Markets & Securities Ltd., is a wholly-owned subsidiary of the IDBI Bank Ltd.

The fully integrated financial service brokerage house has made a gigantic reputation for itself within the Indian trading and brokerage industry by providing their respective clients with personalized support.

However, in today’s article we will verify if everything that has been acknowledged as a generalized perception for the company is at all true.

In simple words, we will commence proper research regarding every aspect of the frim with regards to their range of products, extensive, regular or occasional offers, all their service offerings, kind of brokerage they charge, type of taxes they impose up on their respective traders and investors, effectiveness of the research and advisory based materials they have to offer, number of complaints they have received within the BSE and the NSE over the past one year and of course the significance, efficiency and user friendliness of all the remote trading platforms they have to provide.IDBI Direct Offers


IDBI Direct Customer Ratings & Review

IDBI Direct Customer Ratings & Review


About IDBI Direct

Overview
Company TypePrivate
Broker TypeFull Service Broker
HeadquartersMumbai, Maharashtra
FounderGurudeo M. Yadwadkar & Rakesh Sethi
Established Year2006

IDBI Direct was established as a fully integrated financial service provider and brokerage firm by their founders Mr. Gurudeo M. Yadwadkar and Mr. Rakesh Sethi in the year 2006 within the judiciary premises of Mumbai, Maharashtra.

The company, as of today has a net worth of three billion rupees and a total of two hundred employees located across fourteen distinct branches in around fourteen different cities around the nation.

IDBI Direct, as a retail broking division of the India centric financial services providing giant offers remote based trading through the help of internet in across all the major financial trading segments like Mutual Funds, Initial Public Offerings, Equities and F&O.

The company typically boasts about their respective online portal of providing a plethora of features in order to help the respective registered traders as well as the investors of the company to better, informed and swift investment related decisions.


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IDBI Direct Brokerage Charges

Brokerage Charge & Fees
Equity Delivery Trading0.05% – 0.35%
Equity Intraday Trading0.01% – 0.04%
Commodity Options Trading0.01% – 0.04%
Equity Futures Trading0.01% – 0.04%
Equity Options TradingRs.10 – Rs.60 per lot
Currency Futures Trading0.01% – 0.04%
Currency Options TradingRs.10 – Rs.60 per lot
Minimum BrokerageRs.20 per executed order
Demat AMC ChargesRs.350
Trading AMC ChargesFree
Margin MoneyRs.10,000
Brokerage CalculatorIDBI Direct Brokerage Calculator

The table of contents as mentioned above, shows the exact details of the brokerage charges as imposed up on the respective registered traders and investors by IDBI Direct. Taking a short glimpse at the chart above will give you a proper hint about the company’s policies with regards to their respective brokerage charges.

As you can see in the aforementioned table of contents, the company imposes a brokerage charge of 0.01 % – 0.04 % on Equity Intraday Trading, a brokerage charge of 0.01 % – 0.04 % on Equity Futures Trading, a brokerage charge of 0.01 % – 0.04 % on Commodity Options Trading, a brokerage charge of 0.01 % – 0.04 % on Currency Futures Trading, a brokerage charge of 0.05 % – 0.35 % on Equity Delivery Trading, a brokerage charge of Rs. 10 to Rs. 60 per lot on Equity Options Trading, a brokerage charge of minimum Rs.20 per executed order, and an annual maintenance charge of Rs.350 for the sake of maintaining a Demat Account.

Furthermore, the company also seeks their respective clients to have a minimum balance of Rs.10,000 in terms of Margin Money in order to be able to execute trading smoothly without any interference. Nevertheless, the company does not asks their respective traders to pay any sort of annual maintenances whatsoever.


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Other charges as imposed by IDBI Direct

Other Charges
Transaction Charges0.00312% of Total Turnover
STT0.0126% of Total Turnover
SEBI Turnover Charges0.0002% of Total Turnover
Stamp DutyDepends on State (very minimal)
GST18% of (Brokerage + Transaction Charges)

If you take a roper look at the above mentioned table, then you will be able to speculate that IDBI Direct, charges a total of 0.0002 % of the total turnover value with regards to SEBI Turnover Charges, a total of 0.0126 % of the total turnover value with regards to Securities Transaction Taxes, a total of 0.00312 % of the total turnover value with regards to Transaction Charges, a total of 18 % on the overall value of the sum of brokerage and transaction charges with regards to GST and variable (but minimal) amount with regards to Stamp Duty in accordance to the laws of the respective State judiciary.


IDBI Direct’ Demat Account Opening Fees

Demat Services
Depository SourceCDSL & NSDL
Account Opening ChargesFree
Demat AMC ChargesRs.350 per Annum
Trading AMC ChargesFree
Margin MoneyRs.10,000
Offline to OnlineYes

IDBI Direct has been generous in terms of accepting the requests they receive with regards to new accounts being opened with the company throughout the country.

In fact, people from across the country who are interested in joining in the well-reputed and fully integrated financial services providing frim can register themselves for free with a Trading or even a Demat Account.

Nevertheless, once a person becomes a part of the company by joining them through opening up a Demat Account, then the company requires them to pay an amount of Rs. 350 every year in terms of annual maintenance charges and maintain a minimum balance of Rs. 10,000 in terms of Margin Money so as to be able to execute the trades without getting interfered. All the transactions can be made through NSDL and CDSL.


Offers by IDBI Direct

Offers
Free Demat AccountYes
Free Trading AccountYes
Discount on BrokerageYes
Trading Happy HoursNo
Flexible Brokerage PlansYes
1 Month Brokerage FreeNo
Holiday OffersYes
Referral OffersNo
Zero Brokerage for Loss Making TradesNo

The aforementioned chart of contents has been deliberately positioned and drafted in the most simplistic way possible so as to give you a detailed understanding about IDBI Direct’s provisions with respect to regular or occasional offers.

If you take a moment to look at the chart, you will be amazed to see that the fully integrated financial service providing brokerage firm has exclusive offers with regards to Free Demat Account, Discount On Brokerage, Free Trading Account, Holiday Offers and Flexible Brokerage Plans.

However, you must also consider the fact that they do not let out any offers whatsoever with regards to Referral Offers, provision for charging zero brokerage for the loss making trades or even trading happy hours.


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How to open up an account with IDBI Direct?

IDBI Direct does not have any particular set of criteria to be followed when it comes to people who are interested to join the firm as traders or as investors send them registration requests. So, if you too happen to be interested in joining them as a trader or as an investor, then it is the right time and the right place for you to learn what you need to do:-

  1. Just click on the green colored button reading ‘Open Demat Account’ that can be found underneath this particular section.
  2. Clicking on the button will pop up a completely new window on your computer screen with a set of details that are needed to be filled up.
  3. Go through the entire form, reading carefully each line, sentence, and paragraph carefully.
  4. Fill in all the required details within the form that pops up correctly.
  5. Proceed for the KYC procedure as soon as you get done with submitting the poped up form.
  6. You must have your Aadhar Card, PAN Card, and a photograph with you and upload them to the website in order to verify your age, identity and address respectively and therefore complete the KYC procedure.
  7. Once you have finished up the KYC verification, you can expect a call from an authorized representative of the firm to contact you and take care of the final few set of verifications.
  8. You may expect to be granted full access to your new Trading or Demat Account within a couple of hours once you have completed all the aforementioned procedures.

Why should you open a Trading Account with IDBI Direct?

There is no other alternative for the people residing within the Indian constituency and wanting to execute equity or derivative-based trades across the Indian Stock Trading Industry other than having a Demat or a Trading Account. Nevertheless, that is not the sole compelling reason for you to consider in order joining IDBI Direct:-

  • They have gained a positive reputation for themselves within the past few years.
  • They have been recognized many times for their tremendously satisfying customer care services by the maestros of the domain.
  • Their remote trading platforms are considered to be some of the best with the entire domain of equity and derivative-based trading.

Products as offered by IDBI Direct

Products
Equity TradingYes
Commodity TradingYes
Currency TradingYes
OptionsYes
FuturesYes
Mutual FundsYes
ForexNo
BankingYes
SIPYes
InsuranceNo

By taking a few moments to look into the aforementioned chart of contents, you will be able to easily understand everything about IDBI Direct’s chain of financial products.

As a matter of fact, it can be easily concluded that the financial service and brokerage providing giant has financial products across Systematic Investment Plans, Banking, Equity Delivery Trading, Commodity Trading, Mutual Funds, Futures Trading, Options Trading and Currency Trading.

However, you must also have been able to understand that the brokerage house does not have any financial products with regards to Forex Trading or Insurance.

Services as offered by IDBI Direct

Services
Demat ServicesYes
Trading ServicesYes
3 in 1 AccountYes
Intraday ServicesYes
IPO ServicesYes
Stock RecommendationsYes
Robo AdvisoryNo
PMSNo
Trading InstitutionNo
Trading ExposureUpto 15X

Looking at the aforementioned chart of contents that has been deliberately designed with a simplistic format, will give you a proper idea about the company’s take on providing exclusive services to their respective registered traders as well as investors.

You can clearly see that the company provides services with regards to 3 in 1 Account, Demat Services, Trading Services, Initial Public Offering Services, Stock Recommendations and Intraday Services with up to fifteen times the average exposure on trading.

Nonetheless, this is also a considerable fact that the company seems to have no interest in providing services with regards to Robo Advisory, Portfolio management Services or Trading institution.


IDBI Direct’s Research & Advisory

Research & Advisory
Fundamental ReportsYes
Research ReportsYes
Company ReportsNo
Annual ReportsNo
Company Stock ReviewYes
Free Stock TipsYes
IPO ReportsYes
Top PicksYes
Daily Market ReviewYes
Monthly ReportsNo
Weekly ReportsYes
Offline AdvisoryYes
Relationship ManagerYes

It can be easily speculated after taking a basic look at the aforementioned table of contents that IDBI Direct does take the provision for their Research and Advisory services seriously.

As a matter of fact, they provide almost all the services related to the Research and Advisory of financial services including Research Reports, Fundamental Reports, Relationship Manager, Weekly Reports, Offline Advisory, Daily Market Reports, Top Picks, Initial Public Offerings Reports, Company Stock Overview and Free Stock Tips.

However, they do not have any provision to provide any support related to Monthly Reports, Company Reports or even Annual Reports.


Exposure & Leverage As Offered By IDBI Direct

Exposure / Leverage
Equity DeliveryUpto 3X
Equity IntradayUpto 15X
Equity FuturesUpto 3X
Equity OptionsUpto 5X
Currency FuturesUpto 2X
Currency OptionsUpto 2X
CommoditiesUpto 2X
Margin CalculatorIDBI Direct Margin Calculator

If you consider looking at the above mentioned table of contents, you will be amazed to notice that IDBI Direct provides additional leverage on all the major asset classes.

They typically provide, an additional trading exposure of up to two times on Commodities Trading, an additional trading exposure of up to three times on Equity Delivery Trading, an additional trading exposure of up to two times on Currency Options Trading, an additional trading exposure of up to two times on Currency Futures Trading, an additional trading exposure of up to five times on Equity Options Trading, an additional trading exposure of up to three times on Equity Futures Trading, an additional trading exposure of up to fifteen times on Equity Intraday Trading.


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Trading Platforms As Offered By IDBI Direct

Trading Platforms
Desktop Platform – WindowsYes
Desktop Platform – MacYes
Desktop Browser PlatformYes
Mobile Site PlatformNo
Android App PlatformYes
iOS App PlatformYes
Windows App PlatformNo
Other Mobile OS PlatformNo
Real time UpdatesYes
Portfolio DetailsYes
Online MF BuyYes
News FlashYes
Research ReportsNo
Easy InstallationYes
Global IndicesYes
Stock TipsNo
Personalized AdvisoryNo
Interactive ChartsYes
Live MarketsYes
SMS AlertsNo
Email AlertsYes
Multi Account ManagementNo

IDBI Direct has developed a plethora of remote trading platforms to offer to their respective registered traders and investors throughout the nation. What’s fascinating about them is that they have developed their respective platforms in accordance to the categories of their respective users. Here is a list of all the platforms they have developed so far:-

IDBI Direct Trading Terminal:

IDBI Direct has as an in house team of proficient technocrats who have designed a brilliant terminal based trading platform for the company’s respective registered traders as well as investors.

This particular platform can be installed with one’s computer with a minimum configuration of Windows 98 / Windows 2000 / Windows XP / Windows 7 / Windows 8 / Windows 10, Pentium 4 Processor or higher, RAM of 512 mb or more and an internet speed of 56 kbps or more. It comes with the following features:-

  • The software has been developed so as to enable the users to set audio and visual based alerts along with a set of specific conditions allocated to specific stocks.
  • Software comes integrated with a functionality that enables the respective traders as well as investors to keep a track of any and all of their placed orders in real time.
  • An software has been developed in a particular manner so as to grant the respective registered investors as well as traders with the ability to monitor a set of specific scrips across several industries through personalized market watch lists.
  • Software comes equipped with a variety of charting options that enable the respective investors as well as the traders registered with the company to analyze their certain stocks in accordance to their preferred style of display.
  • The software has been developed in a manner to be able to access many of the company’s research and advisory reports including research reports, stock recommendations and tips across fundamental as well as technical level, thereby empowering the investors as well as the traders registered with the company to take informed financial decisions.

IDBI Direct Web Trading Platform

IDBI Direct’s team of proactive technical professionals have been able to develop a web browser based platform known as the IDBI Power Streaming that can be directly accessed through a web browser.

This particular remote trading platform is apt to be used by the frequent investors pertaining to the fact that the numbers of features that have been integrated within the software are not as exhaustive as compare to the IDBI Power PRO. It comes integrated with the following features:-

  • The web based app has been created in manner so as to enable the respective investors as well as the traders who have registered with the brokerage house to create up to seven customizable market watch lists with the ability to create upto 50 different scrips in each market watch list.
  • Web based platform has been developed in a way so as to enable the respective investors and trader who are registered with the company to place their particular orders with a single click in a hassle free environment.
  • The web based app comes integrated with a feature that enables the respective users to access real time charting options that are further optimized with color coded price movements to give away a swift sneak peek at the real time momentum of any particular or a group of stocks, sector or even the entire market.
  • Web based software has been integrate with an in-built functionality known as the ‘Hotkey’. This particular feature enables the respective users registered as investors or as trader with the brokerage house to take swift decisions during the times of stock price change with quick analysis, order placement and feature browsing actions.
  • The web based remote trading platform has been integrated with a functionality that enables the respective users who are registered with the brokerage house as investors or as traders to get a detailed view of the top 5 bids available at a certain point in time.

IDBI Direct Mobile Trading App:

IDBI Direct have yet another set of remote trading platform suited for every kind of users ranging from the frequent traders to the seldom investors who have registered themselves with the well acclaimed brokerage house. This particular app can be found in Google’s Play Store by the name of IDBI Direct Mobile and comes loaded with the following features:-

  • The mobile based app enables the respective users who have been registered with the brokerage firm either as investors or as traders to create multiple customizable watch lists in accordance to their own preferences.
  • The app can be used to get instant access to real time market streaming across several exchanges as well as indices by the respective users registered with the brokerage firm either as traders or as investors.
  • The respective users who have already registered themselves with the well acknowledged brokerage house can get access to a variety of charts that the app comes integrated with for in depth market analyses at fundamental as well as technical levels.

IDBI Power Classic:

IDBI Power Classic is another remote trading platform developed by the in house team of technical maestros at IDBI Direct. This particular software has been brought to existence keeping in mind the people who are new to the entire trading or investing business within the Indian stock trading industry. The software has been designed with a rather simplistic interface and come equipped with the following set of features:-

  • Software enables the users to get instant access to the live rates of stocks directly from the National Stock Exchange as well as the Bombay Stock Exchange.
  • The software enables the respective users to add, update of cancel ongoing orders from within the platform with a series of simple commands.
  • Software comes integrated with a set of ledgers, contract notes and account notes for better understanding of the overall market.

IDBI Direct’ Customer Care

Customer Support
Dedicated DealerYes
Offline TradingYes
Online TradingYes
24*7 SupportNo
Email SupportYes
Chat SupportNo
Toll Free NumberNo
Branches225

Taking some time to look into the above mentioned chart of content will give you a proper hint about the brokerage firm’s customer care support.

As you can see from the table above, IDBI Direct extends exclusive support for their respective clients in the form of a Dedicated Dealer, Email Support, Offline Trading and Online Trading through a network of their two hundred and twenty five branches set across the nation. However, this is also clear that they do not have any support with regards to 24 * 7 Support, Chat Support or even a toll Free Number.


Complaints lodged against IDBI Direct Last Year

Complaints (Current Year)
Lodged in BSE46
Resolvd in BSE42
Lodged in NSE65
Resolved in NSE59

IDBI Direct, as a full service brokerage firm received a total of forty six complaints against them in the BSE and sixty five complaints within the NSE last year, out of which, a total of forty two and fifty nine complaints against them were resolved within the respective segments. This shows how dedicatedly the company serves their respective clients.


Disadvantages with IDBI Direct

IDBI Direct is definitely a big shot in the Indian stock trading industry. However, they still need to look after some important factors that may seem to be disadvantageous for their respective customers or the one who are willing to join them in the near future:-

  1. They still do not have any toll free number for their respective customers to reach out.
  2. Their mobile app has time and again received a lot of negative criticism with respect to features like slow update speed.

Conclusion

IDBI Direct has definitely evolved as a fully integrated financial services provider and brokerage firm in the past few years. However, this has not let them overlook certain factors that may cause their respective investors or traders to face difficulties.

As a matter of fact, the total number of complaints received against them on the National Stock Exchange or the Bombay Stock Exchange last year was a lot less as compared to their respective competitors.


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