ICICI Direct : Feature Loaded – A Detailed Review

Share on whatsapp
WhatsApp
Share on facebook
Facebook
Share on twitter
Twitter
Share on linkedin
LinkedIn

ICICI Bank Ltd was established in 1994 by the Industrial Credit and Investment Corporation of India (ICICI) which is a financial institution. It is a multinational banking and financial services company headquartered in Mumbai. ICICI Bank provides a whole host of services to its large array of clients with institutional and retail broking, merchant banking, and advisory services to corporates, financial institutions, high net-worth individuals, and retail investors in India. It operates in 3 major segments namely Investment & Trading, Broking & Commission and Advisory services.

One of its flagship offerings on the retail trading side is ICICI Direct due to which it became one of the largest retail broking firms in India by providing a wide range of products and services to its retail and institutional customers. ICICI Direct.com is the flagship website of the company where you can find a whole host of products and services like Equity Trading, Derivatives trading , Mutual funds, Home Loans, Loans against Securities, Insurance, Bonds, NCDs etc.

Why ICICI Direct?

3-in-1 Account- ICICI provides a unique 3-in-1 account which is combination of its Bank account, trading account and Demat account all in one place. This helps customers to trade securities with the ease of transferring money conveniently at the click of a button. This is one of the unique features of a stock broking company that can leverage its banking parent company.

In addition to share trading in NSE and BSE they also provide their customers with innovative product offerings like Margin, Margin Plus , BTST, SPOT, Overseas trading, Online Life Insurance.

This site also allows you trade in areas with low bandwidth and if you are struggling with your network connection you can also use the Call n Trade facility. For investors new to the market ICICI also provides advisory service where you are guided from trade placement to execution.

The broking firm also provides research reports to its clients to assist on them choosing trades. You can also track your portfolio and create watchlists which also provides SMS alerts.

ICICI Direct also provides its customers with knowledge programs on various financial products like derivatives, stocks, mutual funds etc. so that they can make informed investment decisions.

They also provide specialized research reports and dedicated relationship managers for traders who like to trade full time in the market. Lastly their high performance terminal application  Trade Racer is specifically meant for active day traders.


Open Account and Start Trading

Congratulations!

You have taken the first step.
An expert will call you shortly.


ICICI Trading Platforms

ICICI offers technologically advanced trading platforms for their large customer base across all platforms. Here is a detailed view of these applications:

ICICI Trade Racer

Trade Racer is a easily installable software for your desktop using which you can use to trade  at will from the comfort of your home. This trading platform provides you with Live streaming quotes, research calls and integrated fund transfer system. Using trade racer one can check the market depth, Bulk Block deals, corporate announcements, stock charts, moving averages used to perform technical analysis, access to Global Indices. Here are some of the features of this application:

  • View the latest market trends i.e bullish or bearish using the Trend Scanner tool.
  • Track the New highs and Lows of the stock market by tracking the price movement of stocks using the Live Scanner tool.
  • Get a fully Customised Grid layout with personalised color combinations and a trendy look and feel
Trade Racer

Note: Clients who generate a higher brokerage to the firm have free access to this software, however those who don’t generate necessary levels of brokerage have to pay subscription cost of Rs 75 per month to use this application.

ICICI Trade Racer Web

Trade Racer Web is the browser based version of trade racer application which can be accessed from anywhere for the purpose of buying and selling stock on BSE and NSE. This application allows Cash Trading, Margin & Margin Plus trading, Buy Today Sell Tomorrow, Derivatives trading etc. Some of the key features are as follows:

Trade Racer Web
  • Get Live streaming of stock market prices for the stocks of your choice
  • Analyze your favourite stocks using charts and technical indicators.

This browser based application is best suited for active traders who aware of the various nuances of the stock market.

ICICI Direct Mobile App

ICICI’s mobile trading app allows users  to trade ,view latest quotes,track your portfolio and market movement , get live research calls. Here is how the app looks like:

ICICI’s mobile is rated at 3.4 out of 5 and its customer reviews on google play is average at best. Kindy check it out using this link.

Some important features of this app are as follows:

  • Live streaming of stock  prices.
  • In app order placing for equities, commodities and FX alike.
  • Trade whenever you like from the convenience of your phone
  • Get Live research reports and market tips

Thus looking at the customer reviews, ratings and the look and feel of the app it seems to be pretty average and it seems to be lacking focus on moving their technology to mobile phones which is very important in this day and age.

Don’t have an account with ICICI Direct? Click here to open one!

Pricing

Account Opening Charges

For opening an account with ICICI Securities you will have to pay the below charges:

Trading Account Opening Charges (One Time)₹0
Trading Annual Maintenance Charges₹700
Demat Account Opening Charges (One Time)₹0
Demat Annual Maintenance Charges₹0
ICICI Direct Brokerage Plans

ICICI offers 3 different brokerage plans to its customers and the Brokerage you pay for trading with ICICI depends on what plan you have subscribed for, here are the brokerage plans with brokerage structure offered by ICICI in some detail:

I- Saver Plan

This plan is beneficial for clients with a lot of experience in the market as you are charged on the basis of the total turnover your trades create over a span of 3 months. Hence the higher turnover you generate the lesser your brokerage will be, here is the detailed brokerage structure offered by ICICI under various segments:

Brokerage In Cash
Total Eligible Turnover (Per calendar Quarter)Brokerage (%)Second Leg Of Intraday TradesEffective Brokerage on Intraday Squareoff
Above ₹5 Crores0.25Nil0.13%
₹ 2 Crores to 5 Crores0.3Nil0.15%
₹ 1 Crores to 2 Crores0.35Nil0.18%
₹ 50 Lakhs to 1 Crores0.45Nil0.23%
₹ 25 Lakhs to 50 Lakhs0.55Nil0.28%
Less than ₹ 25 Lakhs0.75Nil0.38%

(Minimum Brokerage is applicable only on transactions upto ₹4667)

Brokerage in Margin & Margin Plus
Total Eligible Turnover per monthBrokerage (%)
Above ₹20 Crores0.03
₹ 10 Crores to 20 Crores0.035
₹ 5 Crores to 10 Crores0.04
Less than ₹ 5 Crores0.05

(Above brokerage rates only applicable for trades above ₹50000, below that value a flat brokerage of ₹25 or 2.5% whichever is lower is applicable)

Brokerage in Currency Futures
Total Eligible Turnover per monthBrokerage (%)Flat Brokerage on other leg of Intraday square off (per lot)
Above ₹ 20 Crores0.03₹ 10/-
₹ 10 Crores to 20 Crores0.035₹ 10/-
₹ 5 Crores to 10 Crores0.04₹ 10/-
Less than ₹ 5 Crores0.05₹ 10/-
Brokerage in Options & Option Plus
Total Eligible Lots per monthFlat brokerage per contract lot (₹.)Flat Brokerage on Second leg of Intraday square off (₹ per lot) – (Wef April 01, 2016)
Above 480035/-₹ 50/-
2401-480045/-₹ 50/-
1201-240055/-₹ 50/-
601-120065/-₹ 50/-
301-60075/-₹ 50/-
51-30085/-₹ 50/-
1-5095/-₹ 50/-
Brokerage in Currency Options
Total Eligible Lots per monthFlat brokerage per contract lot (₹.)Brokerage on Second leg of Intraday square off (₹ per lot)
Above 150010/-₹ 10/-
601-150015/-₹ 10/-
301-60020/-₹ 10/-
0-30025/-₹ 10/-
I-Secure Plan

In this plan the client are required to pay a fixed brokerage which is agreed upon between the client and the broker at the time of account opening and hence you don’t have to worry about making a specific turnover of trades to pay lesser brokerage. This plan is more suited to new investors or those trying to learn the ropes of stock market trading. Here is the brokerage structure for this plan:

Brokerage In Cash
Total Eligible Turnover (Per calendar Quarter)Brokerage (%)Second Leg Of Intraday TradesEffective Brokerage on Intraday Squareoff
Irrespective of turnover0.55Nil0.28%

(Minimum brokerage only for transactions exceeding ₹6364)

Brokerage in Margin & Margin Plus
Total Eligible Turnover per monthBrokerage (%)
Above ₹ 20 Crores0.03
₹ 10 Crores to 20 Crores0.035
₹ 5 Crores to 10 Crores0.04
Less than ₹ 5 Crores0.05
Brokerage in Currency Futures
Total Eligible Turnover per monthBrokerage (%)Flat Brokerage on other leg of Intraday square off (per lot)
Above ₹20 Crores0.03₹ 10/-
₹ 10 Crores to 20 Crores0.035₹ 10/-
₹ 5 Crores to 10 Crores0.04₹ 10/-
Less than ₹ 5 Crores0.05₹ 10/-
Brokerage in Options & Option Plus
Total Eligible Lots per monthFlat brokerage per contract lot (₹.)Flat Brokerage on Second leg of Intraday square off (₹ per lot) – (Wef April 01, 2016)
Above 480035/-₹ 50/-
2401-480045/-₹ 50/-
1201-240055/-₹ 50/-
601-120065/-₹ 50/-
301-60075/-₹ 50/-
51-30085/-₹ 50/-
1-5095/-₹ 50/-
Brokerage in Currency Options
Total Eligible Lots per monthFlat brokerage per contract lot (₹.)Brokerage on Second leg of Intraday square off (₹ per lot)
Above 150010/-₹ 10/-
601-150015/-₹ 10/-
301-60020/-₹ 10/-
0-30025/-₹ 10/-
Prepaid Brokerage Plan

In this plan the one has to deposit a fixed amount as an initial payment and whenever you make a transaction the brokerage is deducted from your initial deposit. Also note higher the deposit the lesser brokerage you will have to pay. The prepaid brokerage plan comes with a life validity of 15 years meaning you can use your money for a span of 15 years.

There are currently 7 different plans from which you can choose from having different initial deposits.Here is a detailed brokerage structure for this plan:

Prepaid Plan (Rs)Total amount with GST (Rs)Cash %Margin / Futures %Options-(per lot)Currency Futures %Currency Options-(Per lot)
10,000.0011,800.000.450.04700.0420
25,000.0029,500.000.350.035550.03516
50,000.0059,000.000.30.034500
75,000.0088,500.000.250.0253500
100,000.00118,000.000.20.022500
200,000.00236,000.000.150.0152000
300,000.00354,000.000.120.0121500

ICICI Direct Complaints

Complaints are a way to gauge the customer satisfaction among the client base. As per the below table the number of complaints against ICICI has decreased marginally over the years meaning a reasonably better customer service as compared to other full service brokers.Here are the number of complaints registered against ICICI Direct over the years:

ExchangeFinancial YearActive ClientsTotal Complaints
NSE2018-19830368150
NSE2017-18798335153
NSE2016-17618359132
NSE2015-16560438153
NSE2014-15594714161
NSE2013-14500731150
NSE2012-132103210190


Share on whatsapp
WhatsApp
Share on facebook
Facebook
Share on twitter
Twitter
Share on linkedin
LinkedIn

Related Articles

Recent Blogs

Open Free Demat Account

Congratulations!

You have taken the first step.

An expert will call you shortly.