ICICI Direct Review, Brokerage, Demat Account, Charges, Margin

ICICI Direct Review : One of India’s most prominent and well-known retail stock brokers is ICICI direct trading platforms.

With one of the Best Stock Brokers, it’s miles an easy and green technique to spend money on diverse economic instruments. Customers can get in-individual assistance on the financial merchandise at any ICICI Bank department or ICICI Direct office. ICICI Direct additionally gives hassle-unfastened settlements and brief pay-in and pay-out. 

With the help of this article, we can offer you an independent ICICI direct review. We will undergo their merchandise and offerings, brokerage charges, different applicable charges in mixed taxes, and, maximum importantly, the systems they should provide their respective customers for faraway buying and selling. So, Let’s get started with unbiased ICICI direct review here.

How Can You Open Your Demat Account & ICICI Direct Review?

You’ll need to open three accounts with ICICI Direct to do online stock trading: an ICICI Bank account, a trading ICICI Direct account opening, an ICICI Demat account (DP Account), and ICICI securities account opening. ICICI Direct is one of the best and most respectable full-service brokerage companies in the country, having been in function for over two decades.

This fact also suggests that you might want to join them as a trader or an investment. If that’s the case, you’ll only need to do the following:- 

•  Visit their official page and click on the green icon ‘Open Demat Account.’ 
• A new form will appear on your computer screen.
• So, as soon as the document appears, read it attentively, line by line and paragraph by paragraph. form
• Once you’ve gone through the entire file, you must fill in all needed fields.
• After completing the form, you will get asked to upload a few papers to complete the KYC verification procedure.
• You’ll need an Aadhar Card, a PAN Card, and a photograph to validate your age, identity, and address for this step.
• Once you’ve completed all the steps, authorized staff from ICICI Direct will come in contact with you to complete the final verification procedures.
• As soon as you have accurately completed all of the procedures listed above and left the login details in your email address, you should have complete and hassle-free access to your new account with the company in a couple of hours.

ICICI Direct Offerings for its Customers of Demat Account Opening Charges

ICICI Direct has always welcomed every trader or investor interested in trading across a wide range of equities and derivative-based assets as an open conciliator and a wealth trading affiliate of the ICICI Group.

If you desire to become a trader or an investor, you can register for a free Demat or Trading Account with them. However, the ICICI Direct Demat charges no annual maintenance fee for maintaining a Trading Account and a yearly maintenance price of ₹700 for upholding a Demat Account.

In terms of minimum Margin Money, they also need you to keep a minimum balance of 75% Margin in the account as your ICICI Direct Demat account charges. 

ICICI Direct Brokerage Charges

ICICI Direct Brokerage Charges for Its Customers in Their Respective Columns

The contents chart above has become purposefully located to offer precise and correct statistics on every brokerage fee. The ICICI securities trading charges the same on their respective customers.

As you can see from the table, ICICI Direct brokerage charges ₹20 consistent with an order for Futures and Delivery segments or anything in any respect for Futures and Delivery segments. This information applies to the maximum attractive plan, ICICI Direct Neo. It has a marketplace directive as extensively proportionate to the marketplace’s pinnacle brokerage plans. 

ICICI Direct units Rs.Three hundred per annum for annual buying and selling account protection and Rs. Zero per annum for every year buying and selling account protection. 

ICICI Direct low-cost intraday plans for its customers

ICICI Direct Intraday chances span multiple investment sectors, allowing traders to maximize their profits and make the most of their transactions. In intraday trading, the brokerage is extremely important because you must pay brokerage on all of your trades daily. ICICI Direct intraday charges are ₹20 per order. 

The ICICI Securities Intraday Margin, on the other hand, is five times the average exposure provided by any large brokerage business. Intraday traders use the marginal trading capability since it allows them to trade without worrying about how much money they have in their trading account.

ICICI Direct Intraday Fees

It’s standard, and the minimum brokerage is lower than other major brokerage firms ICICI Direct. 

The government imposes a few obligatory charges on ICICI Direct Intraday Brokerage.

• The government levies a Securities Transaction Tax, a tax on financial transactions.
• There are also SEBI Turnover Charges, which get imposed by the SEBI.
• Stamp Duty gets levied based on the state from where you are operating.
• There are also GST and transaction expenses to assume. 

At a rate of 18%, GST gets used to the total of the brokerage and transaction fees.

ICICI Direct Brokerage Plans

Here are ICICI Direct brokerage plans. Let’s have a quick rundown. 

ICICI Direct Prepaid Brokerage Plan-

The ICICI Direct Prepaid Brokerage Plan affords inexpensive brokerage fees and transaction costs, retaining comfort in mind. 

The Direct Prepaid Plan provides six different plans ranging from ₹5,000 to ₹1,50,000, but it does not come up with eATM. Furthermore, under the six ICICI Direct plans, it offers a fixed charge of ₹20 for each order.

ICICI Neo Plan

It is a brokerage plan with a set fee. It allows you to trade stock futures without having to pay a commission. It charges a flat fee of ₹20 per executed transaction for equity intraday and options trading and 0.55% for equity delivery. This plan includes trading suggestions and research, a 30-minute payment when selling shares, and low-interest margin funding.

ICICI Direct I-Secure Plan

Customers with the ICICI Direct I-Secure Plan pay a set brokerage fee regardless of the value of their transactions. This strategy is ideal for traders who trade in large quantities and have a specific approach to volume. 

Currency futures, options trading, and commodity trading have a flat ₹20 per order.

ICICI Direct Prime Brokerage Plan

Trading volume determines the brokerage: high brokerage for low volume traders and low for big volume traders. As a result, it shows that the traders/investors who trade in large amounts can benefit from the low commission provided by this plan. 

The ICICI Direct Prime brokerage plan brings many blessings to your door to store on brokerage costs. It provides an eATM and an equity ATM, for example, with limits ranging from ₹2.5 lakh to ₹1 crore.

ICICI Prime Brokerage Plan also provides exceptional MTF Interest rates per LPC ranging from 0.04% to 0.024% every day.

ICICI Direct NRI PREPAID BROKERAGE Plan

NRIs can enjoy cheaper brokerage rates and more down transaction expenses with the ICICI Direct NRI Prepaid Brokerage Plan. It can stay legitimate for 15 years. 

For cash turnover eligibility of ₹1333333 to ₹1.5E+08, the eligible cash turnover ranges from ₹10,000 to ₹30,00,00.

ICICI Direct NRI brokerage

The NRI Prepaid Brokerage Plan, offered by ICICI Direct, offers flat brokerage fees ranging from 0.50% to 1.25%. 

In addition, as shown in the table, the total monthly eligibility turnover is limited to ₹5 lacs.

ICICI Direct Other Charges

In terms of SEBI Turnover Costs, ICICI Direct charges 0.0005% of total turnover value, and in terms of Transaction Charges, the company charges 0.00280% of the entire turnover value.

Aside from that, state laws and rules levy 0.0126% of total turnover value in Securities Transaction Tax, 18% of total turnover value in GST, and a minimal charge in Stamp Duty.

Why Must You Open Your Trading Account with ICICI Direct?

According to India’s government and several regulations that control the country’s wealth trading business, anyone dealing within Indian territory across any components of equities or derivative-based assets must have at least a Demat or Trading Account.

There are, however, considerably more compelling considerations to consider before deciding whether or not to register as a trader or an investor with ICICI Direct.

The following are some of the pros of opening an ICICI Direct trading account with the stock brokerage company:-  

• It has a three-in-one account that unites your banking, brokerage, and Demat accounts.
• Many other Indian online trading organizations demand money sent to deposits or the broker’s pool. ICICI Direct, on the other hand, allows you to manage both your Demat and bank accounts using the same website, ICICI Direct.com.
• All IPOs, GOI Bonds, Mutual Funds, and Postal Savings Schemes can be purchased online.
• ICICI Lombard’s General Insurance is accessible.
•  BSE and the NSE offer to trade.
• A low-bandwidth webpage is available for trading from mobile devices or a sluggish internet connection.
• Through myGTC options, you can buy or sell limit orders in equities scripts.

ICICI Direct – Products and Services

ICICI Direct offers some unique goods such as:-

• Insurance
• Equity Trading
• Forex, Banking
• Futures Trading
• Systematic Investment Plans
• Options Trading, Mutual Funds
• Currency Trading.

ICICI Direct, as a full-service trading and brokerage business, offers a wide range of financial trading services in India. They generally present assistances such as:- 

• Portfolio Management assistance
• Initial Public Offerings assistance
• Demat assistance
• Trading assistance
• Intraday assistance
• 3 in 1 Account assistance
• Stock suggestions Robo Advisory
• Trading organization.

ICICI Direct – Exposure/Leverage

They offer up to 1x leverage on delivery trading and up to 5x leverage on intraday trading. ICICI Direct also provides up to eight times the average exposure on currency futures, up to one time the moderate exposure on equity options, and up to one time the medium exposure on currency options.

It should be enough to give you a general idea of ​​the exposure you might expect from the well-known brokerage firm.

However, let’s say you still want more specific information about the leverage you might expect from the detailed group of stocks you desire to trade. In that scenario, you must use the ICICI Direct Margin Calculator, the company’s specific margin calculator tool. 

ICICI Direct Trading Platforms

Trading Platforms Provided By ICICI Direct For Its Customers

Customers of ICICI Direct have three trading platforms for you to go. The first platform is the Share Trading Account on the website, the second platform is the Trading Terminal, also known as the Trade Racer, and the third platform is the mobile trading app.

Share Trading Account [ Website-Based Trading]

It mostly gets used for stock sales and purchases. At the NSE and BSE, this gets done. Spot trading, cash trading, Buy today, Sell tomorrow, mutual fund investment, margin trading, IPO investment, and eventually MarginPLUS Trading are all available. 

Trade Racer [Trading Terminal] 

A consumer or an investor can use this incredible tool to get research calls and live streaming quotes. But that’s not all. There is also a way for transferring funds (integrated). Thanks to the assistance provided by advanced charting tools, technical analysis is also possible with this instrument.

Many features include technical analysis, a customized interface, shortcuts (for quicker and faster market access), the IFT system (integrated money transfer), EOD charts, etc. 

The trade racer is even better because it is completely free for investors who offer an ICICI direct brokerage of more than ₹750 in a given month. ICICI charges others ₹750 each month, which goes towards Trade Racer’s subscription.

Mobile Trading App

This firm also provides its traders and investors with the ICICI Direct Mobile Android-based mobile trading platform, which includes the following features:-

• The ICICI Direct App allows traders to start trading equity across several exchanges and indices.
• It permits traders to begin trading Futures and Options across several swaps and indices. 
• This app lets traders keep real-time track of their different portfolios.

With over 1 lakh downloads and over fifteen thousand evaluations with an average of 3.4 stars, you can find the Android App in Google’s Play Store or Apple’s App Store.

ICICI Direct – Customer Care Services

ICICI Direct has 226 branches across the country that offer assistance with a dedicated dealer, online trading, and email.

Nonetheless, they do not offer any help through chat, offline trading, or 24-hour support, and they do not have a toll-free number for their customers to call.

ICICI Direct Review – Advantages and Disadvantages

Some Advantages and Disadvantages of the ICICI Direct

Before registering an account with ICICIdirect, you should consider the benefits and drawbacks. The advantages and disadvantages of ICICIdirect might help you decide if it is right for you.

The following are some of the benefits of ICICIdirect:-

• Your banking, brokerage, and Demat accounts get integrated into one 3-in-1 account. Because of this characteristic, ICICI is a fascinating player in the online trading facility. It is the most effective online trading platform.
• Unlike most internet trading businesses in India, ICICIDirect allows you to handle your own Demat and bank accounts through ICICIdirect.com, rather than moving money to the broker’s pool or towards deposits. As soon as ICICI Direct receives funds from stock sales, it gets deposited into any ICICI bank account.
• IPOs, Mutual Funds, GOI Bonds, and Postal Savings Schemes can all be purchased online through one website. ICICI Lombard offers general insurance as well.
• Trading is available on both the BSE and the NSE.

The following are some of ICICIdirect’s disadvantages:-

• ICICIdirect pricing is exorbitant and unaffordable. Subscribing to ICICIdirect Prime or prepaid brokerage plans helps reduce brokerage costs.
• The regular I-Secure plan minimum brokerage price is ₹35 per trade, which is excessively costly for traders who perform tiny deals.
• On equities quoting up to ₹10, ICICI Direct charges a flat ₹0.05 per share brokerage. It makes penny stock trading extremely tough.
• After the first 20 free calls in a month, ICICIdirect charges ₹25 for each call and trade.

The banking brokers have worked hard to attain their current status, and they are unquestionably one of the top trading organizations in the country. ICICI Direct trading platform, on the other hand, still has a few flaws to address.

FAQs – ICICI Direct Review

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