ICICI Direct Review – Services, Brokerage Charges, Margin, Demat Account, Platforms, Research Reports & More

ICICI Direct Review

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Icicidirect is an Indian top-rated bank based stockbroker brand.  It deals with retail financial services, investments and trading across all segments. ICICI Securities is the brokerage arm of the well-known brand ICICI Group.

Being India’s 3rd largest banking based brokerage firm in terms of services, assets and market capitalization. It started its services in the year 1994 and at present, it manages to provide services all across the country including services in many international countries.

The network of the ICICI Direct is well distributed over 87 locations in India with more than 200 physical offline offices offering all types of services to its valuable customers. The managing director and CEO of ICICI Securities are Ms. Shilpa Kumar, The CFO is Mr. Prashant Mohta and the Executive Director is Mr. Ajay Saraf.

ICICI Group offers various services to its customers with retail brokering facilities, banking services; institutional brokering and research-based advisory services to financial institutions, individuals, corporates and other retail investors.

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The most advantageous feature of trading with ICICI Direct is that it offers 3 in 1 DEMAT Account with the features of trading, banking, and DEMAT. Having a 3 in 1 trading account you will get a hassle-free trading experience with superfast fund transfer as your bank account is directly integrated with your trading account.

The active client base of ICICI Direct is around 8,70,070 in the financial year 2019-20 which is the 2nd largest client base in the trading industry. The broker offers almost every financial, investments and trading segment. Some of them are as follows:

  • Equity Trading
  • Derivative Trading
  • Mutual Funds Investments,
  • Currency Trading
  • Futures Trading
  • All the of Loans
  • Fixed Deposits
  • Tax-related services,
  • Pension Systems
  • Insurance
  • Corporate Deposits
  • IPOs
  • Bonds
  • NCDs
  • ICICI PMS
  • E-Locker
ICICI Direct Review
ICICI Direct Review

ICICIdirect Trading Software And Platforms

ICICI Direct is a well-managed brokerage firm to utilize all the advance technologies in their trading platforms for better trade results for its customer’s satisfaction. It mainly offers all trading platforms for Laptop, Desktop, mobile devices.

Let’s check out all the trading platforms individually in a detailed way:

1. ICICI DIRECT Trade Racer – A Desktop Based Trading platform

ICICI Trade Racer is an installable desktop-based trading platform which comes in an executable file format. The user can easily download and install it on their laptops or desktops.

Here are some best features of ICICI Direct Trade Racer:

  • It allows the customer to monitor all trading scrip within a single screen or trading interface.
  • The terminal comes with a live scanner feature for identifying specific stocks as per the client’s choice.
  • It includes heat map features to identify the highs and lows of the stocks directly via using the color-coding schemes without starching the real data.
  • The customer can customize the trading platform by changing the layouts and manage personalized market charts as per trading style and pattern.

2. ICICI Direct Trade Racer Web – A Web browser-based Trading terminal

ICICI Trade racer Web is the official web-browser based trading platform of ICICI Securities.  It is mainly designed for those who don’t want to install any trading software in their devices and it can be accessed from multiple devices without any issues.

The top features are mentioned below:

  • The web-based terminal offers real-time streaming of stocks and its quotes.
  • It allows the investor to drag and drop trade widgets with the trading window.
  • The user can customers market watch list as per their choice in trading and can manage up to 5 lists at once.
  • It comes with trade alerts and other real-time notification for efficient trading.

3. ICICI Direct Mobile Application – A Mobile-based Trading application

ICICI Mobile is the official mobile-based trading application specially designed for mobile users who prefer trading on the go. It helps the user to trade from anywhere at any time. However, the performance is mediocre while comparing with other platforms.

Here are some best features of the mobile trading application:

  • The mobile application allows its users to deal with the latest stocks and scrip.
  • It helps its users to analyze market-based research reports
  • Being a user you can handle portfolio tracking and manage market movements
  • It offers real-time research calls and trade recommendations and valuable market tips.

ICICI Direct Research Report And Advisory Trading Tips

ICICI Direct acknowledges the use of financial education and literacy and has used a range of resources to generate knowledge of encouraging its consumers to make better investment choices. ICICI Direct is India’s only brokerage firm to provide trade training facilities to its customers on multiple economic segments.

  • iCommunity is a digital space where people can raise questions, get responses to their inquiries, and catch up with many other experts.
  • Web seminars on Shares, Mutual Funds, Stocks, Securities, and Technological Research.
  • Digital Education Training 

ICICIdirect makes above-average market decisions for regular selections, frequent choices, and quick-term, lengthy-term, and free-of-charge commodity futures investing.

They offer every possible support to its users concerning

  • Trade Research Reports
  • Annual Reports with recommendations
  • Fundamental Reports analysis
  • Detailed Company Reports
  • Relationship manager assistance
  • Weekly reports and trade tips
  • Offline Advisory services
  • Monthly Reports and trade recommendations
  • Daily Market Review reports
  • Real-time Company Stock Review
  • Initial Public Offerings Reports

ICICI Direct Customer Care, Support and Office Addresses

The broker offers a variety of customer support services and allows its users to communicate with them:

  • Via Email
  • Over Phone Call
  • Offline Branches Assistance
  • Web-based help

Customer Services Numbers, Office addresses, and E-Mail helpline, Fax details.

Registered Office AddressICICI Centre, H.T. Parekh Marg, Churchgate, Mumbai – 400020
Telephone no.+91 22 2288 2460 / +91 22 2288 2470
Fax+91 22 2288 2445
Corporate Office AddressShree Sawan Knowledge Park, Plot No. D – 507, T.T.C. Industrial Area, M.I.D.C., Turbhe, Navi Mumbai – 400705
Telephone no.+91 22 4070 1000
Fax+91 22 4070 1022
Toll-free No.1860 123 1122

ICICI Direct Customer Ratings

SegmentsRating
Trading Platforms6.5 out of 10
Brokerage and pricing5.0 out of 10
Customer Service7.0 out of 10
Research and trading tips6.5 out of 10

ICICI Direct Prices and Charges

1. ICICI Direct Account Opening Charges

Here the account opening charges ICICI Securities imposes on its customers:

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SegmentsOpening Charges
Opening Charges (Trading Account)Rs.0
Opening Charges (DEMAT Account)Rs.0
Annual Maintenance Charges (Trading Account)Rs. 975
Annual Maintenance Charges (DEMAT Account)Rs.500
Minimum Margin MoneyRs. 20000

The account opening charges for trading and DEMAT accounts are not chargeable. However, the Annual maintenance charges for Trading Account are Rs.975 and for DEMAT Account is Rs.500.

They have made it compulsory for their different merchants and buyers to retain a minimum deposit of Rs. 20,000 in support of Margin Funds to exchange smoothly.

2. ICICI Direct Brokerage Charges and Plans

ICICI Direct offers 2 types of brokerage plans to its users. Here are the plans mentioned below:

ICICI Direct I – Secure Plan

Under this program, the proportion of brokerage stays stable irrespective of turnover. This is a perfect product for customers who want to provide a set investment contract.

SegmentsBrokerage Rates
Currency optionsRs.10 to rs.25 /Lot
Equity OptionsRs.35 to Rs.95/Lot
CommodityNot Applicable
Equity Delivery0.55%
Equity intraday0.275%
Equity Futures0.03% to 0.05%
Currency Futures0.03% to 0.05%

Below are several points to consider if you want to apply for an I-Secure plan.

  • The minimum trading fee would be Rs.5 per exchange or 2.5 percent of the trade volume and is lower for trades up to Rs. 6364 for trades of stocks greater than Rs.10.
  • Stock trading below Rs.10 would be charged Rs.0.05 percent trading/share. In this scenario, the cumulative brokerage would be Rs.0.05 percent or Rs.35 whichever is lower. Contractual costs shall be imposed on the brokerage.

ICICI Direct I – Saver Plan

This brokerage plan is focused on just the amount of exchange involved. In other terms, large volume transactions would have minimal brokerage and small size transactions would have higher brokerage rates.

Total Eligible Turnover (Per calendar Quarter)Percentage Intraday BrokeragePercentage Delivery Brokerage
More than Rs 5 Crores0.25%0.125%
Between Rs 2 Crores to 5 Crores0.30%0.150%
Between Rs 1 Crores to 2 Crores0.35%0.175%
Between Rs 50 Lakhs to 1 Crores0.45%0.225%
Between Rs 25 Lakhs to 50 Lakhs0.55%0.275%
Between Rs 10 Lakhs to 25 Lakhs0.70%0.350%
Between Less than Rs 10 Lakhs0.75%0.375%

There are a few things you must need to know before choosing the I-saver brokerage plan:

  • Rs.5 /order is the minimum brokerage charge or 2.5% of the total transaction amount for trading below Rs.4667 and each share must be of Rs.10.
  • Stock trading below Rs.10 would be charged Rs.0.05 percent trading/share. The cumulative brokerage in the situation would be Rs.0.05 percent or Rs.35 equivalent to a limit of Rs.0.25 per share that is lesser. The regulatory costs would be imposed on the brokerage.

3. ICICI Direct Other Charges

Here are some charges the broker charges from its users. So we recommend you to check each of them carefully.

SegmentsCharges
Account Opening ChargesNil
Annual Service Charges (AMC)Rs 600 (Rs 500 for customers receiving email statements)
Buy – Market and Off-MarketNil
Sell – Market and Off-Market(Maximum Rs 500 for debt instruments / Nil for Trades done on www.icicidirect.com)
* Instruction submitted through Internet (E-inst / IVR)0.04% (Minimum Rs 25 and Maximum Rs 25,000)
* Instruction submitted through Call Centre0.04% (Minimum Rs 30 and Maximum Rs 25,000)
* Instruction submitted at Branches0.04% (Minimum Rs 35 and Maximum Rs 25,000)
Rejection/failsRs 30
Extra charges for the processing of TIFDs submitted late (% of transaction value)
* Instruction submitted through Internet (Einst/IVR)Nil
* Instruction submitted through Call CentreNil
* Instruction submitted at branches (accepted at Client’s risk)Rs 10 per ISIN 
(Nil for e-instructions)
Dematerialization
* For each request formRs 50
* Extra for each certificateRs 3
RematerializationA fee of Rs 25 for every hundred securities or part thereof, subject to the maximum fee of Rs 3,00,000 or a flat fee of Rs 25 per certificate, whichever is higher.
Reconversion of MF unitsRs 25 per instruction
Closure of AccountNil
Pledge Creation/Closure/Confirmation/ Invocation
* If, ICICI Bank is counterparty0.02% (Minimum Rs 25 and Maximum Rs 25,000)
* If, ICICI Bank is not the counterparty0.04% (Minimum Rs 35 and Maximum Rs 25,000)
Additional Account StatementsRs 20

Like every other conventional brokerage firm and bank ICICI direct, it is often referred to as a pricey broker in terms of account opening fees and Demat management costs.

In the case of the Demat account, the opening costs for the account would be zero, but the maintenance costs for the account would be about Rs.600.

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ICICI Direct FAQs

Q1. Is there any bank related facility available with ICICI Direct?

Ans. Yes, there is bank related facility available with ICICI Direct.

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Q2. Does ICICI Direct offer all types of financial services?

Ans. Yes, ICICI Direct offers all types of financial services.

Q3. When ICICI Direct came into existence?

Ans. In the year 1994 ICICI Securities started its services all across the country.

Q4.Who is the CEO of ICICIDirect?

Ans. Ms. Shilpa Kumar is the CEO of ICICIDirect.

Q5. Who is the Chief Financial officer of ICICI Securities?

Ans. Mr. Prashant Mohta is the Chief Financial Officer of ICICI Securities.

Q6. Does ICICI Securities charge extra fees for using their trading platforms?

Ans. Yes, ICICI Securities charges extra fees for using their trading platforms

Q7. Is there any facility with ICICI Direct to provide offline services to its users?

Ans. Yes, the offline branch customer service facility is available by the brokerage firm.

Q8. Does Institutional broking is allowed with ICICI Securities?

Ans. Yes, Institutional broking is allowed with ICICI Securities.

Q9. Is it trustworthy to rely on research reports of ICICI Direct?

Ans. Yes, it is trustworthy to rely on research reports of ICICI Direct.

Q10. Is it trustworthy to rely on advisory reports of ICICI Direct?

Ans. Yes, it is trustworthy to rely on advisory reports of ICICI Direct.

Q11. Does ICICI Securities offer 3 in 1 Trading account facility to its users?

Ans. Yes, ICICI Securities offers a 3 in 1 trading account facility to its users.

Q12. Does ICICI Direct Offer an integrated fund transfer option to its users?

Ans. Yes, ICICI Direct Offers an integrated fund transfer option to its users.

Q13. Does Equity trading facility is available with ICICI Securities?

Ans. Yes, Equity trading facility is available with ICICI Securities.

Q14. Investing in Mutual funds is allowed by the ICICI Brokerage firm?

Ans. Yes, Investing in Mutual funds is allowed by the ICICI Brokerage firm.

Q15. Investing in Fixed Deposits is allowed by the ICICI Brokerage firm?

Ans. Yes, Investing in Fixed Deposits is allowed by the ICICI Brokerage firm.

Q16. Is Trading with derivatives is allowed with ICICI Direct?

Ans. Yes, Trading with derivatives is allowed with ICICI Direct.

Q17. Is Trading with Currency is allowed with ICICI Direct?

Ans. Yes, Trading with Currency is allowed with ICICI Direct.

Q18. Is Trading with Futures is allowed with ICICI Direct?

Ans. Yes, Trading with Futures is allowed with ICICI Direct.

Q19. Being a Full-service broker Does ICICI Direct offers IPO investment?

Ans. Yes, ICICI Direct offers IPO investment to its clients.

Q20. Being a Full-service broker Does ICICI Direct offers Bonds investment?

Ans. Yes, ICICI Direct offers Bonds investment to its clients.

Q21. Being a Full-service broker Does ICICI Direct offers NCDs investment?

Ans. Yes, ICICI Direct offers NCDs investment to its clients.

Q22. Is there any e-locker facility available with ICICI Securities?

Ans. Yes, an e-locker facility available with ICICI Securities.

Q23. Does ICICI Securities provide a desktop-based trading platform?

Ans. Yes, ICICI Securities provide a desktop-based trading platform.

Q24. Is there any web-based trading terminal available with ICICI Direct?

Ans. Yes, there is a web based trading terminal available with ICICI Direct.

Q25. Does ICICI Securities provide a mobile-based trading platform?

Ans. Yes, ICICI Securities provide a mobile-based trading platform.

Q26. What is the name of the web-based trading platform of ICICI Securities?

Ans. The name of the web-based trading platform of ICICI Securities is ICICI Direct Trade Racer Web.

Q27. Is trading with a desktop trading platform is effective to gain profits?

Ans. Yes, trading with a desktop trading platform is effective to gain profits.

Q28. What is the name of the mobile-based trading platform of ICICI Securities?

Ans. The name of the mobile-based trading platform of ICICI Securities is ICICI Direct Mobile.

Q29. Is there any facility of Annual report publication with ICICI Direct?

Ans. Yes, there is a facility of Annual report publication with ICICI Direct.

Q30. Does ICICI Securities offer trade recommendations?

Ans. Yes, ICICI Securities offer trade recommendations.

Q31. Is there any facility of Company report publication with ICICI Direct?

Ans. Yes, there is a facility of Company report publication with ICICI Direct.

Q32. Does ICICI Securities offer support from Relationship managers?

Ans. Yes, ICICI Securities offer support from Relationship managers.

Q33. Is there any facility of real-time stock reports with ICICI Direct?

Ans. Yes, there is a facility of real-time stock reports with ICICI Direct.

Q34. Is there any facility of Daily market reports with ICICI Direct?

Ans. Yes, there is a facility of Daily Market reports with ICICI Direct.

Q35. Is there any facility of monthly research reports with ICICI Direct?

Ans. Yes, there is a facility of monthly research reports with ICICI Direct.

Q36. Is there any facility offered by ICICI Securities via EMAIL for its customers?

Ans. Yes, the Email Service facility is offered by ICICI Securities for its customers.

Q37. Is there any facility offered by ICICI Securities over the phone for its customers?

Ans. Yes, over phone Service facility is offered by ICICI Securities for its customers.

Q38. Is there any support offered by ICICI Securities via offline branches for its customers?

Ans. Yes, offline branch support is offered by ICICI Securities for its customers.

Q39. Mention the toll-free customer care number of ICICI Securities?

Ans. The toll-free customer care number of ICICI Securities is 1860 123 1122.

Q40. How much does ICICI Securities impose on its user fort opening a Trading Account?

Ans. ICICI Securities imposes no charge on its user for opening a Trading Account.

Q41. How much does ICICI Securities impose on its user for opening a DEMAT Account?

Ans. ICICI Securities imposes no charge on its user fort opening a DEMAT Account.

Q42. How much does ICICI Securities impose on its clients for the AMC of a DEMAT Account?

Ans. ICICI Securities imposes Rs.500 on its user for AMC of a DEMAT Account.

Q43. How much does ICICI Securities impose on its clients for the AMC of a Trading Account?

Ans. ICICI Securities imposes Rs.975 on its user for AMC of a Trading Account.

Q44. How much does ICICI Securities impose on its clients as minimum margin money for trading?

Ans. ICICI Securities imposes Rs.975 on its user as minimum margin money for trading.

Q45. How much does ICICI Direct charges for Currency option brokerage fees?

Ans. ICICI Direct charges Rs.10 to rs.25 /Lot for Currency option brokerage fees.

Q46. How much does ICICI Direct charges for Equity option brokerage fees?

Ans. ICICI Direct charges Rs.35 to Rs.95/Lot for Equity option brokerage fees.

Q47. What is the brokerage charge of ICICI Direct for Equity Delivery?

Ans. ICICI Direct charges 0.55% for Equity Delivery brokerage fees.

Q48. How much does ICICI Direct charges for Equity intraday brokerage fees?

Ans. ICICI Direct charges 0.275% for Equity intraday brokerage fees.

Q49. How much do ICICI Direct charges for Equity Futures brokerage fees?

Ans. ICICI Direct charges 0.03% to 0.05% for Equity Futures brokerage fees.

Q50. How much do ICICI Direct charges for Currency Futures brokerage fees?

Ans. ICICI Direct charges 0.03% to 0.05% for Currency futures brokerage fees.

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