ICICI Direct is the stock brokerage house of ICICI Group and as we all know this financial service company has its own worth.
The article below is about ICICI Direct Review where you will find all the intricate details about the firm, its brokerage charges, account opening and margin charges, exposure, other charges, products and services offered by it and many other facilities that are offered by the firm and about all other aspects of the brokerage house.
|ICICI Direct Highlights|
|Broker Type||Full Service Broker|
|Demat Account AMC||Rs 300 (from 2nd year)|
|Margin Required||75% Margin|
|Intraday Brokerage||Rs 20 per order|
What do you know about ICICI Direct?
ICICI Direct embarked on the journey in the year 1994 as a public organization. The founder of the firm Vjay Chandok started this full-service brokerage house with the notion of creating an environment for the investor that is favorable for them.
This ICICI Direct Review will take you through all the aspects of the firm and then you can realize how the firm has created a niche for themselves and helped the stock market investors to thrive and grow. This Mumbai based brokerage house is not only known in the city but all over the country and has huge network and client base.
|About ICICI Direct|
|Know few details about ICICI Direct|
|Which type of Company is it? – Public / Private||Public|
|Which type of Broker is it? – Full Service / Discount||Full Service Broker|
|Where is the registered office of Company Located?||Mumbai, India|
|Who is the Founder of this Company?||Vjay Chandok|
|When did the company started?||1994|
Open Demat Account Now – Fill up the Form Below
What are the various Demat Account Opening Charges levied by ICICI Direct?
ICICI Direct Demat Account is linked with both the depositories of the country that are NSDL and CDSL. The ICICI Direct Account Opening charges are nil that is you can open your ICICI Direct Demat and Trading account for free.
However, the annual maintenance charges of the Demat account is Rs 300 (from 2nd year) and for the Trading account it is Rs. 0.
The margin charged by the firm is 75% Margin which is a little bit high but at par with the similar stock brokerage house of the same level.
|ICICI Direct Demat Account Opening Fees|
|Check out the various fees charged for Opening a Demat Account with ICICI Direct|
|Which is the Depository Participant involved?||NSDL & CDSL|
|What are the Demat account opening charges?||Zero|
|How much is the Demat AMC?||Rs 300 (from 2nd year)|
|What is the Trading AMC?||Rs.0|
|What is the initial Margin amount required?||75% Margin|
|Is dematerialization available?||No|
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Does ICICI Direct provide any Offers to their Clients?
If you are looking at what the ICICI Direct Offers are then here is the list for you –
- You get happy hours to trade when you can save a lot of brokerages otherwise you would have to pay
- You get flexible brokerage plans as per your investment goals and nothing can be better than that, isn’t it?
- If you are keen to refer the brokerage house and earn some extra cash, or you know many interested people who will invest with ICICI Direct, then using the referral offer of the firm, you can join their Referral program.
- No profit – no brokerage, yes, you heard that right, if your trade is making losses, no need to pay any brokerage on such trades.
|ICICI Direct Offers|
|Here are the various offers provided by ICICI Direct|
|Does the broker provide Free Demat A/C offer?||No|
|Does the broker provide Free Trading A/C offer?||Yes|
|Is this broker offers Discount on Brokerage?||No|
|Does the broker offer Happy hour trading to their clients?||Yes|
|Is the broking house provides flexible brokerage plan?||Yes|
|Does the broker offer 1 month Free brokerage?||No|
|Is the Holiday offers provided by the broker?||No|
|Are there any referral offers shared by the broker?||Yes|
|Zero Brokerage for Loss Making Trades||Yes|
What are the Brokerage Charges levied by ICICI Direct on various Segments?
ICICI Direct Brokerage Charges is not fixed charges rather it varies and it is flexible. Only for the equity delivery segment, it is fixed at 0.55% as you can check in the above table, for the rest of the segments, it is within the range of Rs 20 per order.
Even for the options category, the charges vary from Rs 20 per order (equity options) and for the currency options it is as mentioned in the table is Rs 20 per order.
ICICI Direct charges a minimum brokerage on any trade you make. The minimum brokerage per transaction is Rs. 20 which is nominal as per the market average.
|ICICI Direct Brokerage Charges|
|Here you will find details of brokerage levied by ICICI Direct on all segments|
|What are the Equity Delivery Charges?||0.55%|
|What are the Equity Intraday Charges?||Rs 20 per order|
|How much brokerage charged for Commodity Trading?||Rs 20 per order|
|What is the brokerage on Equity Futures?||Rs 0 (Free)|
|How much brokerage charged for Equity Options?||Rs 20 per order|
|What is the brokerage on Currency Futures?||Rs 20 per order|
|What is the brokerage on Currency Options?||Rs 20 per order|
|How much is the Minimum Brokerage requires?||Rs 20 per order|
|What is the Demat AMC?||Rs 300 (from 2nd year)|
|How much is the Trading AMC?||Rs.0 per Annum|
|What is the Minimum Margin Required?||75% Margin|
Does ICICI Direct levy any other charges apart from Brokerage?
The ICICI Direct Charges apart from the brokerage and account opening charges are the statutory charges. These are the SEBI turnover, STT and other charges applicable on any trade and on any brokerage house. So, these charges are inevitable but these charges are also similar for every brokerage house.
|ICICI Direct Charges|
|Get deep understanding of all other charges levied by ICICI Direct|
|How much is the Transaction Charges levied?||0.00280% of Total Turnover|
|What are the STT charges?||Equity Delivery: 0.1% on both Buy and Sell
Equity Intraday: 0.025% on the Sell Side
Equity Futures: 0.01% on Sell Side
Equity Options: 0.05% on Sell Side(on Premium)
Commodity Futures: 0.01% on sell side (Non-Agri)
Commodity Options: 0.05% on sell side
Currency F&O: No STT
On Exercise transaction: 0.125%
Right to entitlement: 0.05% on sell side
|What are the SEBI Turnover charges?||0.00005% (Rs. 5/Crore)|
|How much is the Stamp Duty levied?||(On buy side only) Delivery: 0.015%, Intraday: 0.003%, Equity Futures: 0.002%, Equity Options: 0.003%, and Currency F&O: 0.0001%.Commodity Futures: 0.002%, Commodity Options: 0.003% (MCX)|
|How are the GST charged?||18% on (Brokerage + Transaction Charge + SEBI Fee)|
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What is the Limit or Exposure offered by ICICI Direct?
ICICI Direct Exposure is low compared to other stock brokerage house of its stature. However, it still provides an ample opportunity for ICICI Direct Margin trading and the maximum leverage you get is in the intraday segment which is 5 times.
Apart from that, as you can see the exposure in the commodity segment is high up to 5 times. For the other segments, the exposure level can be said to be lower.
|ICICI Direct Exposure or Leverage|
|Here you will find the exposure or limit provided by it|
|How much is the limit on Equity Delivery?||1x|
|What is the limit on Equity Intraday?||Upto 5x|
|How much is the limit on Equity Futures?||1x|
|What is the limit on Equity Options?||1x|
|What is the exposure on Currency Futures?||1x|
|How much is the leverage on Currency Options?||1x|
|What is the limit on Commodity Trading?||1x|
Open Demat Account Now – Fill up the Form Below
How to Open ICICI Direct Demat & Trading Account?
To Open ICICI Direct Demat Account and trading account, you have to –
- Click on the button you found on this article for opening Demat and Trading Account with ICICI Direct
- Once you click, you will be landing on a webpage where you have to fill in all your details – DOB, NAME, Occupation, Address, and other such personal details
- Once submitted the form, then you have to upload the scan copies of the documents mentioned there. The Documents usually includes – PAN, Address Proof, Bank Account Details, and other similar documents and now AADHAAR Is mandatory.
- Once you successfully upload all the documents, then the executives from ICICI Direct will call you on the number provided on the form.
- They will guide you from there and your account will be on within a few hours.
It is not very difficult to Open ICICI Direct Trading Account and Demat account, you just need to go step by step and carefully enter all your details and upload the documents.
What are the various Trading Platforms provided by ICICI Direct?
ICICI Direct Trading Platforms are offered across all devices, you can use the terminal from your laptop and desktop and you can also trade using the Web version from the website using the internet. There is also ICICI Direct Mobile App for you when you are traveling and cannot use the laptop or the desktop for trading.
ICICI Direct Trading Terminal: ICICI Direct Trade Racer
It is known as the Trade Racer. The trading terminal offers all the possible services and products offered by the firm to trade. The features of the trading terminal are vast and this helps your trading experience better. The terminal is one of the fastest in the industry helping you to secure your targeted price on which you want to trade.
ICICI Direct Web-based Platform: ICICI Direct Trade Racer Web
This platform is for them who wants to use the web-browser and trade. This is a simpler online version of the TRADE RACER terminal software. This platform also offers all the features and services offered by the firm which will be discussed below.
ICICI Direct Mobile App:
The mobile application offered by ICICI is superfast and got plenty of features to woo you and assist you in your trading while you are on the move. It is lightweight and does not consume that much of space on your phone neither much data.
|ICICI Direct Trading Platforms|
|Here you will find all the important trading platforms available with ICICI Direct|
|Do they have Trading Terminals for Windows?||Yes|
|Do they have Trading Terminals for Mac?||Yes|
|Are they providing Web Trading Platform?||Yes|
|Do they have Mobile Web Platform?||Yes|
|Does this broker provide Mobile Trading App for Android?||Yes|
|Does this broker provide Mobile Trading App for iOS?||Yes|
|Are they having Mobile App for Windows OS?||No|
|Do they have Mobile Trading App for Other OS?||No|
What are the features available in ICICI Direct Trading Applications?
ICICI Direct Trading Terminal: ICICI Direct Trade Racer Features
The features of ICICI Direct Trading Terminal are –
- You can check all the scrips of the stocks/shares that you are interested in on one single screen. You can add and remove the one you want. It is fully customizable.
- There is Live scanner feature available in this platform. You can use the Live Scanner to identify the stocks that are rising or declining in price and are on the higher and the lower side of the scale as per the price.
- There is also heatmap feature which helps by highlighting the stocks which are making highs and lows and for the same you do not have to check and compare the numbers, your eyes will automatically check those scrips as those get highlighted in a different color
- Ample charts and technical tools for analysis purpose are available
ICICI Direct Web-based Platform: ICICI Direct Trade Racer Web Features
ICICI Direct Web Trading Platform have features like –
- Streaming of quotes and live market updates
- You can make up to five different watch list for different segments or as per your requirement
- There are a variety of alerts that you can set for keeping up with the market updates and notification
- There is a Drag and Drop Widget
ICICI Direct Mobile Application: ICICI Direct Mobile App Features
The ICICI Direct Trading App for the mobile phone is handy and simple to use with exceptional features –
- You get all the updates about the market with your smartphone only
- Track your portfolio and trade using your smartphone via this application
- All the live research calls and market tips are available on this application
|ICICI Direct Trading Application Features|
|Here you will find various features available in Trading Platforms provided by ICICI Direct|
|Are these platforms capable of Real time Updates?||Yes|
|Do these Applications provide Portfolio Details?||Yes|
|Are this software’s providing Online MF Buy?||Yes|
|Do these platforms have News Flash?||Yes|
|Are these platforms providing Research Reports?||Yes|
|Are these platforms Easy to Install & use?||Yes|
|Do these Apps have Global Indices?||Yes|
|Are these platforms having Stock Tips?||Yes|
|Do this software’s provide Personalized Advisory?||Yes|
|Are these platforms capable of Interactive Chartings?||Yes|
|Do these Apps provide Live Markets data?||Yes|
|Do they provide SMS Alerts?||Yes|
|Are they providing Email Alerts?||Yes|
|Do these platforms has Multi Account Management solution?||Yes|
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What are the various Products provided by ICICI Direct?
The range of ICICI Direct Products are vast including all the basic products of a stock brokerage house as well as many other financial instruments to trade and invest your money into. It has banking and forex products as well which are not very common with stockbrokers.
It is because of the banking business of ICICI. It makes the transaction of fund easier as you get three-in-one account where your bank account is linked with your Demat and Trading account.
|ICICI Direct Products|
|Here are the various products provided by ICICI Direct|
|Does the broker allow Equity Trading?||Yes|
|Does the broker allow Commodity Trading?||No|
|Do they have Currency Trading product available?||Yes|
|Do they provide Options trading?||Yes|
|Are the clients allowed to trade in Futures?||Yes|
|Do they have Mutual Funds as product?||Yes|
|Does the broker allow Forex trading?||Yes|
|Does the broker have Banking products?||Yes|
|Is SIP allowed by the broker?||Yes|
|Do they have Insurance as a Product?||Yes|
What are the various Services offered by ICICI Direct?
There are no possible services under the sub provided by the stock brokerage houses that ICICI doesn’t provide. The list of ICICI Direct Services given above which you can refer to has all the services that you can opt for.
Starting from the fundamental services like Demat and trading, the firm provides PMS and Robo Advisory services too. There are even trading institution available on their website which makes the investor learn new things about the market.
|ICICI Direct Services|
|Check out the various services provided by it|
|Does the broking house provide Demat Services?||Yes|
|Does the broking house provide Trading Services?||Yes|
|Do they have 3 in 1 Account i.e. Demat, Trading & Savings A/C?||Yes|
|Do they provide Intraday Services?||Yes|
|Are they offering IPO Services to the client?||Yes|
|Do they have Stock Recommendations available?||Yes|
|Are they providing tools for Robo Advisory?||Yes|
|Does the broker provide PMS?||Yes|
|Do they have Trading Institution available?||Yes|
|What is the Trading Exposure this broker provides?||Upto 5x|
Does ICICI Direct provide Research & Advisory to their clients?
ICICI Direct Research services are one of the most sought after research services in the country and in this industry. They have lots of things to offer to the investors and they put their heart and soul into the research for finding out the opportunities for the investors.
If you check the list above, there are almost all kind of reports and recommendations they provide to the clients and the investors. The ICICI Direct Advisory helps the investors both online and offline if they need any advice regarding the trades.
The research analysts are prudent enough to provide ICICI Direct Tips on stocks and other financial instruments which are appropriate most of the time.
|ICICI Direct Research, Advisory & Stock Tips|
|Here are the various research activities done by it|
|Does the broker shares Fundamental Reports?||Yes|
|Does the broker shares Research Reports?||Yes|
|Do they provide Company Reports to their clients?||Yes|
|Are they analysing Annual Reports of Companies?||Yes|
|Do they share Company Stock Review?||Yes|
|Are they sharing Free Stock Tips to their clients?||No|
|Do they analyze & share IPO Reports?||Yes|
|Does the broking company provide Top Picks?||No|
|Are they sharing Daily Market Review?||Yes|
|Do they have Monthly Reports?||Yes|
|Does the broker provide Weekly Reports?||Yes|
|Are they having Offline Advisory?||Yes|
|Do they provide Relationship Manager to clients?||Yes|
What are the Customer Care details of ICICI Direct?
ICICI Direct Customer Care services can be availed at all time and they have a well-trained and dedicated team of customer care executives. You can reach them via Chat support ad they will also help you regarding all your online trading queries and issues.
They have a Dedicated Dealer service available as well. The number of branches of the firm which are there in the country across the cities is more than two hundred where you can also visit and they will address your issues and queries.
|ICICI Direct Customer Support|
|Let’s have a better understanding of Customer Care Service|
|Are they providing Dedicated Dealer to their clients?||Yes|
|Do they allow Offline Trading?||No|
|Do they have facilities for Online Trading?||Yes|
|Are they providing 24*7 Support?||Yes|
|Does this broker provide Email Support?||No|
|Is this broker having Chat Support?||No|
|How many Branches the stock broker has?||226|
Are there any Complaints filed against ICICI Direct by their clients?
The ICICI Direct Complaints which were registered in the NSE and BSE last year were resolved within the same year and in this year except a few.
The number of unresolved problems as you can see in the above table is very less given to the actual number of issues registered. This depicts the way the firm handles its customers and their issues.
|ICICI Direct Complaints|
|Here you will know about the Complaints lodged against ICICI Direct|
|What is the total number of Complaints Lodged in BSE?||225|
|How many of these complaints have been Resolved in BSE?||215|
|What is the total number of Complaints Lodged in NSE?||196|
|How many of these complaints have been Resolved in NSE?||182|
What are the Advantages / Benefits of ICICI Direct Trading Account?
The main benefits of opening ICICI Direct Trading Account are –
- You get ample of products and services to choose from for your investment portfolio
- You get the Demat account and the Trading account for free
- The margin trading facility is good and you get exposure up to 5 times
- The brokerage plan is flexible and the range of brokerage charges is also average and at par with the market
- The firm provides ample opportunity to the investors by sharing stock recommendations, stock tips and other research and analytical data and information
- Great customer care services available round the clock
- Three-in-one account
What are the ICICI Direct Review & Ratings as per their Customer?
ICICI Direct Rating suggests that the transaction charges, turnover charges and brokerage charges, trading platforms, research, and advisory services are well accepted by the clients and the investors.
However, ICICI Direct Review from the customers suggests that the products and the services are not that much liked by the investors. The overall experience of the customers, according to the rating is great which hikes the overall rating of the firm.
|ICICI Direct Ratings & Reviews|
|We are looking at Companies Ratings on various parameters|
|Stock Market Research & Broking Advisory||7.5/10|
|Brokerage & other Charges like – Turnover, Transaction Charges etc.||8.9/10|
|Types of Products & Services the Brand provides||6.0/10|
|Performance Mobile App, Trading Terminal & Web Trading Platform||8.5/10|
|Experience in the Broking Business||8.5/10|
|Total Avg. Rating of Broking House||7.9/10|
|Star Rating of given to Stock Broker||★★★★★|
|Number of People Contributed to these Ratings||1488|
ICICI Direct Conclusion
In conclusion, we can say that ICICI Direct provides all the products and services required by any investor in this industry.
As per the ICICI Direct Review, the investors and the clients also finds the firm reliable especially when it comes to the research and analysis services. Overall, the clients are happy and satisfied with the services of the firm.
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