ICICI Direct Stock Brokerage Review, Demat, Charges, Margin 2020

ICICI Direct Stock Brokerage Review, Demat, Charges, Margin 2019:- ICICI Direct is one of the biggest companies in India that offers stockbroking services. It is one of the best funding and online trading platform belonging to ICICI Securities the biggest stock broker company. ICICI Direct provides an assortment of investment options to both institutional clients and retail clients as well. These clients use their wide network of ICICI direct branches and ICICI bank. ICICI Securities, which is part of the larger ICICI Group offers online investment and online trading services to thousands of its customers (over 20 lakhs). This is done through ICICI Direct.

icici directWhich Products does ICICI Direct Offer?

ICICI Direct (ICICIDirect.com) is definitely the crown jewel website belonging to ICICI Bank. It offers a diversity of investment products among them being, Mutual Fund and IPO, Online Equity Trading, Home Loans, Fixed Deposit, Loans against Securities, Derivatives Trading, Bond, Wealth Products, NCD, among many other products. What makes this platform great is the fact that all this is done under just one login. This makes this platform the most visited one when it comes to investment portals in the whole of India.

Trading Platforms of ICICI Direct

ICICI Direct customers get offered two trading platforms. The first platform is the Website Based Trading which is the Share Trading Account and the second platform is the Trading Terminal which is also known as the Trade Racer.

1. Trading Terminal ( Trade Racer)

In this amazing platform, a customer or an investor is provided with research calls and live streaming quotes. That is not all. Along with this, there is also a fund transfer system (integrated). Technical analysis is also possible with this tool thanks to helping obtained from advanced charting tools.

This platform comes accompanied by many features like technical analysis, customized interface, shortcuts ( for easier and faster access to the markets), IFT system ( integrated fund transfer), EOD charts among many others.

What makes the trade racer even better is the fact that it is totally free for investors that give a brokerage exceeding Rs 750 in a particular month. Others are charged Rs 750 a month by ICICI which goes towards Trade Racer’s subscription.Trading Terminal ( Trade Racer)

2. Website Based Trading (Share Trading Account)

This is mainly for selling and buying of stocks. This is done at the NSE and BSE. This website allows spot trading, cash trading, Buy today Sell tomorrow, Mutual fund investment, margin trading, IPO investment and finally MarginPLUS Trading. This website ( ICICIDirect.com) is the main investment platform for ICICI Limited.

Brokerage plans of ICICI Direct

There are two types of brokerage plans offered by ICICI to its customers. These plans are:

1. Variable Brokerage Plan also is known as I-Saver Plan,

The I-Saver plan, also known as the Variable Brokerage Plan, provides brokerage depending on trading volume. That is to say, the lower the volume, the higher the brokerage and the higher the trade volumes the lower the brokerage. This plan perfectly suits high volume investors or traders who take advantage of the low brokerage fees.

2. Flat Brokerage Plan also known as I-Secure Plan,

This plan provides flat brokerage regardless of the turnover value. This brokerage is on percentage form. This plan perfectly suits investors or traders who are want to fin fixed and secured brokerage.

ICICI Direct has different charges for different services that they offer. These include trading (account setup and AMC) which are both free. It is free to set up the Demat account. However, the account incurred yearly AMC charges of Rs 600.

ICICI Margin & Margin Plus Trading Brokerage

I – Saver Plan / I – Secure Plan
Total Eligible Turnover per month Brokerage (%)
Above ₹20 Crores 0.030%
₹10 Crores to 20 Crores 0.035%
₹5 Crores to 10 Crores 0.040%
Less than ₹5 Crores 0.050%

ICICIdirect Prime Plan Charges

Prime Plan () Brokerage Special MTF Interest rates/LPC Instant Payout Limit ()
Cash (%) Margin / Futures (%) Options ()
per lot
Currency Futures / Options () % per Day
900 0.25 0.025 35 0 0.045 10 Lakh
4500 0.18 0.018 25 0 0.040 25 Lakh
9500 0.15 0.015 20 0 0.034 1 Crore

 

ICICIDirect Cash Brokerage

I – Saver Plan
Total Eligible Turnover (Per calendar Quarter) Brokerage Effective Brokerage on Intraday Square off
Above ₹5 Crores 0.25% 0.125%
₹2 Crores to 5 Crores 0.30% 0.150%
₹1 Crores to 2 Crores 0.35% 0.175%
₹50 Lakhs to 1 Crore 0.45% 0.225%
₹25 Lakhs to 50 Lakhs 0.55% 0.275%
₹10 Lakhs to 25 Lakhs 0.70% 0.350%
Less than ₹10 Lakhs 0.75% 0.375%

ICICI Direct Charges 2019

  • Trading Account Opening Charges (One Time): ₹975
  • Trading Annual maintenance charges (AMC): ₹0
  • Demat Account Opening Charges (One Time): ₹100 (for Agreement Stamp Paper)
  • Demat Account Annual Maintenance Charges (AMC): ₹500 (₹0 for 1st year with 3 in 1 Account)

ICICI Demat Service Charges

For Resident Retail Customers and Corporates
Particulars Charges
Account Opening Nil
First Year AMC Nil
Annual Maintenance Charges ₹600 (₹500 for customers receiving e-mail statements)
Buy – Market and Off-Market Nil
Sell – Market and Off-Market and Redemption of MF units (% of the transaction value of each ISIN) Max. ₹500 for debt instruments
Nil for Trades done on www.icicidirect.com
Instruction submitted through Internet (E-inst / IVR) 0.04% (Min. ₹25 and Max. ₹25,000)
Instruction submitted through Call Centre 0.04% (Min. ₹30 and Max. ₹25,000)
Instruction submitted at Branches 0.04% (Min. ₹35 and Max. ₹25,000)
Rejection / fails ₹30
Extra charges for the processing of TIFDs submitted late
(% of transaction value)
Instruction submitted through Internet (E-inst / IVR)
Nil
Instruction submitted through Call Centre Nil
Instruction submitted at Branches (accepted at Client’s risk) ₹10 per ISIN
Dematerialisation for each request form ₹50
Dematerialisation for each extra certificate ₹3
Rematerialisation ₹25 for every hundred securities or part
thereof, subject to the maximum fee of ₹3,00,000 or
a flat fee of ₹25 per certificate, whichever is higher.
Reconversion of MF units ₹25 per instruction
Closure of Account Nil
Pledge Creation/Closure/Confirmation/ Invocation
(% of value for each ISIN in each request)
If, ICICI Bank is the counterparty
0.02% (Min. ₹25 and Max. ₹25,000)
If, ICICI Bank is not a counterparty 0.04% (Min. ₹35 and Max. ₹25,000)
Additional Account Statements ₹20

NSDL Charges

Particulars Charges
Annual Maintenance Fee for Corporate Account ₹500 p.a. (w.e.f October 1, 2013)
Sell – Market and Off-Market ₹4.50 per debit instruction (Nil for commercial paper and short-term debt instruments)
Reconversion of MF units into SoA ₹10 per instruction (w.e.f April 1, 2014)
Redemption of MF units through Participants ₹4.50 per instruction (w.e.f April 1, 2014)
Remat A fee of ₹10 for every hundred securities or part thereof, subject to a maximum fee of ₹5,00,000 or a flat
fee of ₹10 per certificate, whichever is higher.
Pledge Creation ₹25 per instruction

ICICI Direct Exposure Margin

ICICI Direct Exposure Margin for intraday, delivery, options, currency and commodities.

Segment Exposure Margin
Equity Delivery 5x with Interest
Equity Intraday Upto 25x
Equity Future 4x
Equity Options 2x for shorting
Currency Future NA
Currency Options NA
Commodity Future NA
Commodity Options

ICICI Direct Customer Complaints in 2019

Exchange Financial Year Number of Clients * Total Complaints **
BSE 2019-20 184,259 4
NSE 2019-20 878,884 32
BSE 2018-19 250,225 25
NSE 2018-19 830,661 161
BSE 2017-18 417,147 84
NSE 2017-18 798,355 153
BSE 2016-17 296,286 21
NSE 2016-17 618,359 132
BSE 2015-16 308,908 27
NSE 2015-16 560,438 153
BSE 2014-15 243,808 43
NSE 2014-15 594,714 161
BSE 2013-14 2,454,063 62
NSE 2013-14 500,733 148
BSE 2012-13 2,202,803 81
NSE 2012-13 2,103,212 192
BSE 2011-12 2,001,501 59
NSE 2011-12 1,942,014 144

ICICI Direct’s Pros and Cons

Any great organization without a doubt has its advantages and disadvantages and ICICI Direct is no exception. Here is a list of ICICI Direct’s pros and cons.

Pros

  1. Three in one account-This is among the key advantages of having to carry out trading through this particular platform. This three in one account comprises of ICICI Demat Account, ICICI Bank Account and finally the ICICI Trading Account. Of what importance is this three in one account, one may ask. The advantage of this account is that it offers an efficient, yet very easy way to carry out stock investment in the stock market.

This account makes an investment in the stock market very easy. This points to the fact that it consolidates one’s broking, Demat and bank accounts. Thousands of customers can visit the many ICICI Bank branches or even their offices and get help regarding the many financial products offered through the ICICI Direct.

  1. Investments in Mutual Funds, IPOs and Bonds can all be done on one website. This is advantageous because it leads to efficiency and therefore saves time and money.
  2. Unlike many other similar Indian companies, it does not require money transfer to the different brokers’ pools. You get to manage your accounts, whether Demat or bank using the very same portal (ICICIDirect.com)
  3. They have an alternative website for users who want to trade from their mobile phones or in areas with slow Internet connections. This makes it very accessible to everyone with an Internet connection regardless of bandwidth and speeds.
  4. The platform can be used to trade in the NSE and the BSE. This is advantageous because it opens you up to more trading opportunities.
  5. The platform also has a special feature which allows the users to place and save their order limit instructions. You also get to specify the duration of time for which your orders will be effective.

Cons

ICICI Direct only suits large-scale traders as opposed to small-scale ones. The high fees that they charge can be a turn off for anyone without deep pockets. This makes small-scale traders seek out alternative trading platforms. They have a minimum trading brokerage fee of Rs 35 for each trade.

  1. High brokerage Fees. A downside of this platform is that brokerage fees are a little high. In addition to this, the brokerage fees cannot be adjusted to suit individual users. This is non-negotiable.
  2. Biased towards large-scale traders
  1. It is almost impossible to trade in penny stocks using the ICICI Direct platform. This is because the charges one will incur will make it hard to return profits. This turns away even large-scale traders who will find it hard to turn a profit using the platform in trading penny stocks.

 

In conclusion, it can be very profitable and convenient to use the ICICI Direct platform to trade. However, the charges clearly favour large-scale traders which shut out many of the small-scale traders. All things considered, it can be an interesting trading option to consider.