In 2000 ICICI Bank started their online stock brokering farm which becomes popular in India after 2006,2007 when many people started investing in Share market. So, in today’s post, we are going to see ICICI Direct review and how ICICI direct trading application work.
If you are a frequent reader of your blog then you will know my favorite trading application is 5Paisa and Upstox but they are not the oldest broker in India. ICICI direct is one of the oldest and trusted stockbroker India who is using their banking segment to attract lots and lots of new user towards their platform. Currently, they have 40 lakh of the user base (Estimated) which is highest for any broker.
The best part is they also provide research about stock to their client’s. This will help you to understand the target and stop loss for many companies in which you are thinking to invest.
I am highly recommending you to open your account in ICICI direct because they provide the best 3 in 1 banking service which is similar to IndusInd bank service which they provide for Upstox application.
Using 3 in 1 banking service you can manage your Demat account, bank account and trading account at one place. We will discuss this service ahead in this post.
But before starting the main review about ICICI direct let’s see some historical and about data for ICICI direct. You can jump to the main part also if you are not interested in knowing about ICICI direct past and business. But the first and golden rule about share market is to do research before investing in any company and you are investing your money to share market using ICICI direct so I will suggest to reads this part also.
ICICI direct offers you 3-in-1 Bank Account feature.it is also a subsidiary company of ICICI security which is founded in 1994. The ICICI Direct is started in 2000 to provide some essential service’s like mutual funds, stock broking, Online trading platform, call on trad, invest in a bond, government schemes, Home Loans etc.
ICICI Direct Review
ICICI direct is a subsidiary company of ICICI security which is founded in 1994. The ICICI Direct is started in 2000 to provide some essential service’s like mutual funds, stock broking, Online trading platform, call on trad, invest in a bond, government schemes, Home Loans etc.
But mainly they are dealing with Equity trading with individual investors. Therefore, they have the largest client base of 40 lakh peoples In India. I am writing this review in march 2020 and they have Zero complaints in the whole month of March, would you believe?
Other than above maintain services they also offer Following services to their clients:
- Financial planning
- Equity advised portfolio service
- Retirement planning
- Will trading
- Portfolio evolution
- Mutual funds
If you are NRI then also you can open your account with ICICI direct which show the presence of company all over the world for better reach.
Now Let’s see some service offer by ICICI direct:
Why ICICI Direct?
Nowadays most of the brokers during the opening of Demat account provide you one relationship manager which help you to understand their platform for use. You will get personal relationship manager in brokers like Zerodha, Upstox and ICICI direct.
As compare to other ICICI Direct relationship managers are more supportive and helpful. They will take your call any time and give you their personal number, if you ask.
3 in1 Bank account make things easy which is not available in many biggest brokers in India like Zerodha. In Upstox you will get this feature but you have to manually create a new account with IndusInd bank. In ICICI Direct your account is opened at the same time.
As I already said ICICI direct is one of the market leaders who is giving service in India from the last 20 years. In these 20 years, they developed their platform very user friendly. The trading platform has very easy to read charts and many functionalities which help you make decisions under a second.
Speed and Uptime
Nowadays one of the biggest concerns which we face is uptime of stockbroker platform. In the current year only, we face downtime in Zerodha application 2,3 times. In Upstox application, we are not able to make login many times in a single month of march only.
Because of this fault many investors losses their money. ICICI Direct platform is much reliable and fast as compare to other brokers present in India, also the downtime of ICICI direct is very less.
The transaction speed for new order is very fast which may help you to make lots of profit which you place order in bulk or with lots of shares because every paisa matters.
As I already said ICICI direct is one of the oldest banking and brokering farm in India. More than 35 lakh people have Demat account in ICICI direct. It is one of the most trusted brokers present in India.
Tracking and Review
Constant tracking about your portfolio is must when you invest regularly. ICICI direct portfolio tracker and watch-list help you to track your all investment strategy at one place. Also, the SMS alert service helps you to keep updated about the status of the investment.
Whenever it comes to the online transaction, we Indian have some fear of losing money. But ICICI bank created 3 in 1 account in which you don’t have to transfer your money from bank to brokers pools. You can perform all money transaction via you ICICI direct 3-in-1 Demat account.
It gives you the flexibility to trade when you pay online via ICICIdirect.com
Wide Range of Product
The bigger the company, the wide range of service you will find. The ICICI direct provided you are several services from NSE and BSE.
You can invest in equity, indexes, bonds, IPO, government schemes, Gold schemes, Mutual funds and many others. Other than this you will also get Margin, margin plus, BTST, SPOT service with ICICI direct.
Maybe you are at a place where you have mobile network but not the active internet connection or you are not able to log in in ICICI direct website. At that time maybe you will lose some money because of some latest news which is in the market or you can make money.
To solve this problem ICICI direct created call-n-trade service in which you can call and perform transaction directly via call. Yes, you can buy and sell your share on-call using call N Trade service.
ICICIdirect Service Compare with other Brokers
|Segment||HDFC Securities||Zerodha||Upstox||ICICI Direct||Share khan|
|Service Type||Full-service broker||Discount broker||Discount broker||Retails Broker||Full-service broker|
|Margin||Very Low||Low||Very High||High||Moderate|
|Brokerage||0.05 to 0.5%||20 Rs.||20 Rs.||25 Rs.||0.1 to 0.5%|
|Customer Support||Moderate||Low||Very High||Moderate||Moderate|
|Research and analysis||Yes||No||No||Yes||Yes|
ICICI Direct Account Opening Chagres
ICICI Direct Charge 700 Rs. /- per year for Demat account maintains. Other than this they do not charge any fee for a trading account. You also don’t have to pay any fee if you open a new Demat account with ICICI Direct. The charge of 700 Rs will be charged every year from your bank account.
ICICI Direct Brokerage Plans
ICICI Direct offers many brokerages plans to its customer according to uses by customer. They divided their plans mainly in 3 types.
- I-Secure Plan: in this plan, you will get fix brokerage according to the segment in which you are trading. For cash segment, option, margin or margin plus or etc. of segment brokerages will be different which we will discuss below.
- Prepaid brokerage plan: prepaid brokerage plan is one of the best types of brokerage plan where you can buy brokerage in advance with the time validity of 15 years. They also called this plan as a lifetime brokerage plan. You can buy this plan from 10,000 Rs. to 3,00,000 Rs. according to your need or uses.
- ICICI Direct Prime Plan: in this plan, your 50% of brokerage will reduce and you will also get an instant payout of your amount whenever you sell you shares. The premium plan price will be discussed further in this post.
ICICI Direct I Secure Plan Brokerage
Total Eligible Turnover (Per calendar Quarter) Brokerage (%) Second Leg of Intraday Trades Effective Brokerage on Intraday Square off
Irrespective of turnover 0.55 NIL 0.00275
GST will be charged at 18% on the total value of brokerage. The minimum brokerage for transaction up to 6364 on stock quoting more than 10 Rs. /- is 35 Rs per trade or 2.5% per traded value whichever is lower will be charged.
If trade value is more than 6364 than the brokerage will be charged as maintain above in the table
For Margin and Margin plus:
The brokerage for margin and margin plus will be 0.05% under I-Secure plan. The minimum brokerage for transactions up to 50,000 Rs is 25rs or 2.5% whichever is lower will be charged.
If the traded value is above 50,000 than 0.05% of trade will be charged.
For Future, Future Plus and future plus stop loss:
|For Equity Futures||Equity Future and Future Plus|
|Brokerage (%)||Flat Brokerage on other legs of Intraday square off|
For Currency Futures
|Brokerage (%)||Flat Brokerage on other legs of Intraday square off (per lot)|
Options & Options plus
|Flat brokerage per contract lot (₹.)||Flat Brokerage on the Second leg of Intraday square off (₹ per lot)|
For Options & Options Plus under Options 195 Plan
|Brokerage Under 195 Plan for Intra-day trades||Effective Brokerages per lot in||Brokerage applicable as per I-Saver / I-Secure plan per Lot** in ₹|
** Under normal brokerage, brokerage on 2nd leg in case of Intra-day square off is 50
For Currency Options
Flat brokerage per contract lot (₹.) Brokerage on the Second leg of Intraday square off (₹ per lot)
25/- ₹ 10/-
|Amount||Tenure *||Tenure *|
|Below 5 Yrs||Above 5 Yrs|
|Less than or Equal to 1 Cr||0.0075||0.01|
|More than 1 Cr, Less than 5 Cr||0.005||0.0075|
|5 Cr and above||0.005||0.005|
Prepaid Brokerage Plan
With prepaid brokerage plan you will get lifetime validity of discounted brokerage plan. Here you can buy some plans at a discounted rate for 15 years of validity.
You can choose 6 different plans according to your need and uses:
|Prepaid Plan (Rs)||The total amount with GST (Rs)||Cash %||Margin / Futures %||Options-(per lot) (Rs)||Currency Futures & Options-(Per lot) %|
Comparison with I-Secure Brokerage plan @0.55%
|Prepaid Card Value||Delivery Brokerage Rates (Prepaid)||Intra-day Brokerage Rates (Margin / Margin Plus)||Future Brokerage Rates||Brokerage on Options||Savings in Delivery Brokerage Rates(I-Secure)||Savings in Futures Intra-day brokerage Rates|
|10000||0.0025||0.00025||0.00025||₹ 35 per lot||0.55||0.5|
|25000||0.0022||0.0002||0.0022||₹ 30 per lot||0.6||0.56|
|50000||0.0018||0.00018||0.00018||₹ 25 per lot||0.67||0.64|
|100000||0.0015||0.00015||0.00015||₹ 20 per lot||0.73||0.7|
|200000||0.0012||0.00012||0.00012||₹ 15 per lot||0.78||0.76|
|300000||0.0009||9.0E-5||9.0E-5||₹ 10 per lot||0.84||0.82|
How to Buy Prepaid Brokerage Plan?
- Login to ICICI direct official website with your id and password
- Click on the customer service page
- Now choose your desired plan in which you are interested
ICICIDirect Prime Plan
This is a premium plan which helps you to reduce 50% of your brokerage. You can also get money instantly when you sell your shares.
Some of the other benefits which you will get:
- Exclusive research of market data
- Access to exclusive research content and website for all prime members
- Completely bullet plan with include zero brokerage on intraday stop loss for trades squared off within 5 minutes
- Special reduced ‘Interest’ on delay of payments/MTF carry forward positions in Equity Margin Product
- NCD/Bonds transactions along with penny stocks charged at a lower brokerage as that of cash
Here is the plan which you can buy in ICICI direct prime version:
|Prime Plan (₹)||The total amount with GST (₹)||Scheme Validity (in days)||Cash %||Margin / Futures %||Options (Per Lot) (₹)||Currency Futures & Options (per lot) %||Special MTF Interest rates/LPC (% per Day)|
How to buy ICICI Direct prime membership?
- Login to ICICIdirect.com with your account details
- Visit setting and click on brokerage and charges
- Click on My brokerage plan section
- Now click on ICICI direct prime membership.
Following is the minimum brokerage charged
|Prime Plan in (₹)||Delivery Segment||SEP||Margin Segment|
|Transaction up to in (₹)||Brokerage in (₹) or in %||Transaction up to in (₹)||Brokerage in (₹) or in %||Transaction up to in (₹)||Brokerage in (₹) or in %|
|900||10000||₹ 25 or 2.5% whichever is lower||4000||₹ 10 or 2.5% whichever is lower||60000||₹ 15 or 2.5% whichever is lower|
How to open an Account with ICICIDirect?
If you are ready to start investing and want to make money than this is the first step which you have to take.
You have to follow the step which is mention below to open an account in ICICI Direct.
1. Click Here. Now you are redirected to the official website of ICICI direct. Never fill any data on 3rd party website. It leads to lots of calls and spams messages to your mobile which is carrying most of the time.
2. Now you are on the official website of ICICIdirect. Click on Get started if you coming for the first time here or click on resume application if you are already filled some data.
3. On the next page, you will get redirect to application form, where you have to fill your pen card, date of birth with the name under Resident Indian tab (for Indian users). Click on next
4. Here you have to fill your email id, mobile number with pin code of the address. After filling this click on submit button. Make sure you fill correct captcha code to avoid refilling of data.
5. Now you have to enter OTP. Click on verify OTP
6. Now set your password. Make sure you follow password policy. Click on submit.
7. On the next tab, you have to enter your ICICI bank account number if you have. If you don’t have an account with ICICI bank then click on Don’t Have ICICI bank Account.
8. Here you have to enter your bank details which will be verified with Digi locker flow.
9. After verifying your account details, it will ask for some documents which you can upload online via pdf or word documents.
The best part is if you face any issue than within a 2 days person from ICICI direct will call you and help you to open your account with ICICIidrect.
How to Trade with ICICI Direct?
The best part about the current era is everything is online, easy and simple in use. The same principle is also applied to ICICI direct Website-based trading terminal.
Here you can simply log in with your id and password which you got during account creation and after that using simple charts and tools you can buy and sell and share.
Here you will get 2 types of a terminal which you can use:
1. Website based free terminal for everyone: ICICIdirecct doesn’t have any dedicated mobile application for trading. The only way of using ICICI direct is to use their website to perform any transaction.
The web-based terminal is free for use. You can invest in all segment using this terminal accoudning to plan which you bought during account creation.
2. Trade Racer: Trade racer is an advance version of website-based terminal which you can install locally. Here you can see all advance charting tools, live research and reports. You can buy and sell any stock from one place with one click. But the thing is, Trade Racer terminal is paid if have not paid brokerage of more than 75 in the current month. The fee of Trade racer is 75 rupee per month.
ICICI driect is the best place for investors. You can create your account within a half hour without going anywhere. the 3 in 1 account feature make ICICI direct one of the most successful online broking farm.
They charge high brokerage as compare to other brokers available in the market. But they believe in quality service. They think if they provide value for good, customers will come again which is true.
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