ICICI Demat Account – Find Opening Process, Charges & moreLast Updated Date: Apr 12, 2023
The ICICI Demat Account is used by the highest number of retail traders in the country, making ICICI Direct the largest retail stockbroker in the economy.
The ICICI Trading Account has a wide variety of facilities and investment options that can be used for investments by clients. The unparalleled services offered by the stockbroker are the primary reason for their success.
Suppose you are looking for a stockbroker to open your Demat account. In that case, you must read this article below, which enumerates all the details about the ICICI Direct Demat Account and its services and the facilities you get.
The article will take you through the various features of the account and the services/products and others, and then you will get to know how you can easily open the Demat account with the help of this article only and then start trading within a day.
The article will also guide you about all the charges associated with the Demat account and the trading account offered by the stockbroker – ICICI Direct.
ICICI Demat Account
ICICI Direct, the largest retail stock brokerage house in the country, has an abundance of services and products in their kitty for their clients, which you can use when you open an ICICI Direct Demat Account.
There are more than 20 lakh clients registered with them who trade using the ICICI Demat Account and the products offered by the firm.
ICICI Direct integrates all your trading requirements in the smoothest way possible with its Top Demat Account services.
It is an integral part of the ICICI Bank, one of the most reputed and famous financial institutions in the country and the most sought-after private bank.
They offer a three-in-one account for trading purposes, and we will discuss it in the section below.
The three-in-one account includes all the three types of accounts you need for a complete trading transaction: Demat, Trading, and Bank account.
ICICI Direct offers all three accounts together, thus making your transactions smoother and, most importantly, safe.
This account helps you trade various kinds of investment options starting from equities to mutual funds. The bank account linked to this account is a savings account and not a current account.
With the Demat account, you can purchase and invest in general insurance.
Benefits of ICICI Direct Demat Account
- This is an online trading platform in every true sense, and its three-in-one feature makes it the most reliable and safest for traders. There is hardly any requirement for manual labour in trading while using ICICI Direct accounts and trading platforms.
- You get various investment options to trade and invest your money in using the ICICI Direct Demat and trading account. Also, there are a variety of trading platforms provided by the stock brokerage house for the use of the clients. The trading platforms are advanced and full of trading and analytical features to make your trading fully proof.
- Not only equities, currencies, or commodities, ICICI Direct Demat account, but you can also invest in mutual funds, IPOs, GOI Bonds, Postal savings, and many more schemes and options available for investments in the country.
- You can trade stocks available on BSE and NSE using this Demat account.
- You need not worry as the trading platforms offered by ICICI Direct work on a slow internet connection.
- Various another unique feature of the Demat account of ICICI Direct is my GTC, where you can place buy and sell orders with a limit. You can put a validity period for these orders, and till then, the charges will be active.
- With ICICI Direct, you get access to securities across various segments, impressive trading features, free access to all the tools and much more. To know about every feature, go to the ICICI Direct Review section.
Open ICICI Direct Demat Account – Fill up the Form Now!
How to Open an ICICI Demat Account?
The process to Open an ICICI Demat Account is simple, and you can start the application process right here.
- You can see a button here on this article that says “Open Demat Account.” Click on that button.
- A pop-up form will open on your screen, which must be filled out.
- Once the form is filled, then submit it.
- You will get a call from the ICICI Direct executives, and they will guide you through the application process further and verify the details.
- You need to upload certain documents for KYC purposes, and the records must include the PAN, AADHAAR details, and photograph.
- Once you upload all these documents, those will be verified, and then your application will be approved based on the verification results.
- You can then start using your Demat and trading account for trading by logging in to the profile.
Hence, you can easily open a Demat Account in ICICI.
Similar Demat Account you may also Like
- HDFC Securities Demat Account
- Kotak Securities Demat Account
- Axis Direct Demat Account
- SBI Cap Securities Demat Account
- Motilal Oswal Demat Account
ICICI Demat Account Charges
|Trading Charges [One Time]
|Rs 0 (Free)
|Trading AMC [Yearly]
|Rs 0 (Free)
|Demat Charges [One Time]
|Rs 0 (Free)
|Demat AMC [Yearly]
|Rs 300 (from 2nd year)
There are no ICICI Direct Account Opening Charges; you can open an account with the largest stockbroker in the country for free.
Apart from the ICICI Demat Account Charges, there are some other charges discussed in the later section of the article. The Demat account you will get can be under NSDL and CDSL or both, which makes your stocks safe.
Making account opening free helps many retail brokers as they do not have to pay any initial charges for the account.
While opening the account, the margin money must be kept, which is 75% Margin as the minimum. The Demat account from ICICI Direct has a dematerialization facility available.
ICICI Direct AMC or Annual Maintenance Charges
The ICICI Direct Annual maintenance charges or ICICI Direct AMC are quite high compared to the other brokers.
Though there are no opening charges on the account, you need to pay yearly Rs 300 for the Demat account and zero for the Trading account, which is partially quite high than other stock brokerage houses.
To know more, also check ICICI Direct Brokerage Charges.
ICICI Trading Account
The ICICI Direct Trading Account provides a pool of facilities for trading –
- You can trade five times more than your margin in case of equity delivery
- In the case of intraday trades, you get exposure up to 25 times which is huge
- You get four times leverage with the ICICI Direct Trading Account for the equity futures.
- You get to check your margin balance and all your positions in the stocks.
ICICI Direct Demat Account – Conclusion
With ICICI Direct Demat Account, you will be a part of the nation’s largest retail stock brokerage house. You get all the facilities and services provided by this broker, which will make your trading experience a smooth one.
ICICI Direct Demat Account FAQs
Here is the list of FAQs related to the ICICI Direct Demat Account:
How can I open ICICI Direct Demat Account?
The online account opening process has been made seamless and can be done right from this site. Click on “Open Demat Account” and see a pop-up form. Enter the details of the form and then go through the EKYC process, following up with the broker’s representative.
Is ICICI Direct Demat Free?
There are two collective charges which make up a Demat account. One of the charges is waived off by ICICI, and the other one is not waived off. Opening a Demat account with this broker is free; however, you have to pay the AMC of Rs.300 per annum from the second year, i.e., the account maintenance charge.
What are ICICI Direct Demat Charges?
The first charge you need to pay for owning a Demat account is the account opening charges, which this broker does not levy. This is a relaxation provided from the broker’s end; however, there is an AMC charged by the company. The Account maintenance charge of the Demat account is Rs.300 per annum, from the second year.
Is AMC levied on ICICI Direct Demat?
Yes, though the stockbroker does not charge any account opening charge, it takes an Account maintenance charge once every year. The charge rate for Demat AMC is Rs.300 per annum from the second year, which is the industry average if a comparison is conducted.
Is ICICI Direct’s Demat Account the best?
Yes, this stockbroker is one of the leading stockbroking houses in the market today, and investing through them makes it possible to have a great investment journey. This broker also has a brand significance right from the banking sector, portraying their stronghold in the finance arena.
Does ICICI Direct provide Demat a/c?
Yes, ICICI Direct is indulged in rendering all kinds of stockbroking services originating from a Demat account. Irrespective of the asset class you choose to invest in, you will have to deposit through a Demat account, and this stock broking house facilitates one.
What Documents are required for ICICI Direct’s Demat?
There are a bunch of documents you need to get a Demat account. They are among the basic documents that provide identity and bank details to link the Demat account with the bank account. You need an Aadhaar card, PAN card, passport-size photo, and a cancelled cheque.
Is Aadhaar Compulsory to Open ICICI Direct Demat?
Yes, it is essential to have your Aadhaar card handy, as the identification process requires it. Your account will go through the KYC stage and then get verified, and an Aadhaar card is the means to go through both processes successfully.
Is PAN required for Opening ICICI Direct Account?
Yes, a PAN card is one of the many documents you need to open a Demat account. You need to verify your identity and link your bank account to your Demat account for the transfer of funds, all of which require you to hold a PAN card.
Do they Charge the Demat Account opening Fee?
There is a piece of good news for aspiring investors who wish to invest via ICICI Direct, i.e., they do not charge an account opening charge. Anyone can choose to open an account and get started with the investment process for free.
What is the margin buy-in Icici Direct?
Margin buy is an exclusive design for catering fund requirements of customers for intraday trading. Through this, customers can execute trades for some more than they have in their accounts. Buy, sell and trade insecurities, and the same is squared on the same day.
How can I buy stock in ICICI Direct?
It is a step-wise process to buy stock in ICICI direct. You can access it through the website icicidirect.com or the trading platform designed for it. You have to add funds to your account, and you are set to make trades. Fill in the necessary information and place the order for the quantity you want to buy.
What is ICICI Direct for?
ICICI Direct is a stockbroker which offers diversified financial services in varied ways to its customers. It has been operating for more than two decades and has been assisting its customers in achieving their investment goals.
Is ICICI Direct a good fit for trading?
ICICI Direct is a good choice for plenty of reasons. It offers you a 3-in-1 account setting where you can manage your money and investments without hassle or extra effort. It provides a convenient trading experience and assists its customers thoroughly. They have speedy procedures and efficient management.
What is the ICICI direct prime plan?
If you are looking for a lower brokerage plan of up to 0.15% only and interest, which can be as low as 8.9% when buying stocks and paying for them later, then ICICI Direct Prime Plan is your key. It is an efficient attempt of the organization to cater to its customer’s requirements.
Can I transfer money from ICICI Direct to a bank account?
Whether it is the transfer of money or shares, it can be done easily online without any paperwork.
How to sell options with ICICI Direct?
Use your login credentials and log in to your ICICI Direct account through its website or application. Place the order and after that, check the execution of the order.
What does the cash withheld amount mean in ICICI Direct?
It is the amount held by ICICI Direct, and it is the sum received as the proceeds from the sell transactions. It is called Equity ATM or eATM. Also, it is kept for clearing aggregates related to trading expenses.
What is Option Plus in ICICI Direct?
OptionPLUS has been introduced for Options trading. It is an intraday product and allows you to place two orders simultaneously. It offers flexibility and more opportunities to investors.
How long does it take to get money after selling shares in ICICI Direct?
Usually, the settlement system takes T+2 working days to settle the sum and credit the money in your respective bank account. But with the eATM facility of ICICI Direct, the amount is instantly transferred.