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ICICI Direct Review

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About

As the name indicates, ICICI Direct is a subsidiary of ICICI Securities Ltd., which too is a part of ICICI Bank Limited, a big financial sector conglomerate offering all kinds of financial products and services to cater to the needs of investors. However, ICICI Securities Ltd. came into existence in 1995, but its electronic brokerage platform ICICI Direct came into existence only in 2000.

It facilitates its retail & corporate clients to trade in Equity, Commodity, Mutual Funds, ETF, Derivatives, Future & Options, IPOs, NPS, etc. Apart from this, it also provides advisory and investment services in various segments such as Wealth Management, Corporate FD, Loans, Portfolio Management, NRI Services, Global Investment, Financial Learning, Tax Services, Corporate Services, etc. in one place. 

Unlike many small brokerages that avail their services only in India, with ICICI Direct, you get its top-notch services not just in India but in many other countries in the world such as the US, Singapore, UK, Oman, Bahrain, Hong Kong, etc. And to cater to the needs of foreign institutional investors, it offers specialized advisory-based brokerage services. Apart from this, it also facilitates equity research and corporate access services to such investors.

One of the largest retail brokerages in India, it has more than 200 physical branches all over the country that function as a network. And to facilitate its services to its clients in more than 50 segments, it offers one of the best online trading environments managed by award-winning teams comprising field experts.

Whereas, you can also get support and information from the 2600+ banking branches of ICICI Bank. Being a full-service brokerage, it also provides a wide variety of specialized advisory services to its customers in various disciplines such as financial planning, ways to alternative investments, an equity portfolio, estate planning, retirement planning, etc.

Awards & Ranking

With a strong base of 50 lakhs customer membership in which 42 lakhs are fully operational, ICICI Direct has bagged many awards in its name and has never fallen below 75% strike rate since its inception. 

The company has received many awards such as the Best e-Brokerage house of the year- 2014/ 2013/ 2012/ 2011/ 2009/ 2007, Best Retail Broker of the year- 2018/ 2016/ 2015, etc. among many more due to its top-notch financial services and reputation in the financial sector.

It has its presence in various indices such as BSE, S&P BSE, Nifty 50, Nifty 100, Nifty Midcap, Global exchanges, etc. So, you are free to trade in all disciplines as per your choice and liking.

If we talk about ranking and rating then it has always stood in the top 10 spots of best brokerages in India. The previous year, in 2021, it stood at the 2nd spot in the ranking list of full-service brokerages in India –

Ranking Stockbroker   No. of Active Clients Market Share
1 ANGEL Broking Ltd. 14,54,167 8.08%
2 ICICI Direct 14,35,356 7.98%
3 HDFC Securities Ltd. 9,44,091 5.25%
4 Kotak Securities Ltd. 7,17,658 3.99%
5 Sharekhan Ltd. 6,76,631 3.76%
6 Motilal Oswal Financial Services Ltd. 5,43,311 3.02%
7 Axis Securities Ltd. 4,39,273 2.44%
8 SBICAP Securities Ltd. 3,22,353 1.79%
9 IIFL Securities Ltd. 2,87,503 1.60%
10 Edelweiss Broking Ltd. 1,57,198 0.87%

 

Company Details

Credit-freepik.com

ICICI Securities Limited came into existence on 9 March 1995, as a public limited company. And on May 3, 1995, it obtained the certificate of commencement of business. Five years later in 2000 when the internet became a common thing among people of urban India, ICICI Securities launched its electronic arm named ICICI Direct to serve the trading needs of the investors.

Company Details
CIN U72900MH1993PLC131900
Company Name ICICI SECURITIES PRIMARY DEALERSHIP Ltd.
RoC RoC-Mumbai
Registration Number 131900
Company Status Active
Class of Company Public
Category Company limited by Shares
Sub-Category Non-Govt company
Incorporation Date Feb 22, 1993
No. of Members 7
Registered Address ICICI Centre, H. T. Parekh Marg, Churchgate, Mumbai – 400020, Maharashtra, India

 

Some Milestones
  1. In 2001, it launched its online mutual funds’ platform.
  2. It offered Government of India bonds for trading under its online platform in 2003.
  3. In 2006, ICICI Direct offered Health & Life insurance products.
  4. For foreign investors, it launched services for overseas trading in 2007.
  5. In 2009, ICICI Direct started to offer private health management and currency derivatives services.
  6. One year later, in 2011, the company offered NPS, SIP, and F&O services through its online platform.
  7. In 2011, it launched lifetime prepaid brokerage plans, GTC, TIP, online income tax return services, etc.
  8. It offered SPAN-based margining for F&O on its online platform.
  9. In 2015, it offered Track and Act’ Robo advisory platform, Insta accounts’, and bullet trade facility on its online platform
  10. In 2017, it offered an overseas trading facility (through a strategic partnership), AIFs, factor-based portfolio, and margin trading facility, among various initiatives.

With a significant physical presence, it has more than 200 dedicated physical outlets just for stock trading and financial investment purposes. Besides, anyone can also get support and assistance from 2600+ branches of ICICI Bank. Apart from this, to facilitate investment trading, it has more than 5,400 sub-brokers, independent investment associates, and authorized persons throughout the country to cater to your investment needs.

Brokerage

Among its prominent brokerage services, the combined 3-in-1 account is the most conspicuous one that consists ICICI Bank Account, ICICI Trading Account, and an ICICI Demat Account. With this 3-in-1 account, you get a seamless trading experience across various segments and can do trading without worrying about dealing with a lot of entities for clearances.

Besides offering a 3-in-1 account, it also offers a general 2-in-1 account for your trading needs which combines a trading account with a Demat account. For banking services, you can also link your non-ICICI bank account with this trading cum Demat account and it places no obligations to open a bank account with ICICI Bank.

Whether you want to open a 3-in-1 account or a 2-in-1 account, you can open it instantly online with ICICI Direct if you have your ‘Aadhar Card’ ID, linked with your mobile number for the purpose of OTP verification. If you don’t have your Aadhar Card linked with your mobile number, you can still open your account by visiting one of the branches nearest to you.

ICICI Direct Account Opening and AMC (Annual Maintenance Charges)
Transaction

 

Charges
Account Opening Fee  0/-
Demat Account AMC (Annual Maintenance Charges) . 300/- per year
Debit Transaction Charges for Demat A/c (Sell Orders)  200/- per transaction
Call and Trade Charges  50/- per order

 

Segment wise multiple products and services of ICICI Direct –

  1. Equity: Equity, Derivatives, Commodities, and Equity.
  2. Mutual Funds: TIP, SIP.
  3. Fixed Income: FD, NPS, IPO/FPO, Corporate Fixed Deposite, NCDs.
  4. Mutual Funds: TIP, SIP.
  5. Insurance (concerning Life): General Insurance, Health Insurance, Life Insurance.
  6. Fixed Income: FD, NPS, IPO/FPO, Corporate Fixed Deposite, NCDs.
  7. Insurance (not concerning with Life): Home Loan, Auto Loan, Loan Against Property (LAP), Home Loan Top up, Loan Against Security (LAS), Personal Loan, Gold Loan, Credit Card, Forex, Lease Rental Discounting (LRD), Two Wheeler Loan, Travel Cards, etc.

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Brokerage Plans

With ICICI Direct, you get multiple brokerage plans suiting your needs and requirements. It offers ICICI Direct Prime Plan, Lifetime Prepaid Brokerage Plan, I-Secure Plan, and Neo Plan to its clients.

People who don’t want to pay for Equity Futures can opt for its ‘ICICI Neo Plan’ and the company tags it as its special plan. In Neo Plan, you get a free trading facility for Equity Futures, and for equity delivery, you just pay 0.55% of the trade value. To trade for Intraday and Options, you just have to pay Rs. 20/- per executed order as brokerage charge. Besides, the company also avails research-based suggestions, trading tips, and a margin funding facility at a low-interest rate. And after selling your shares, you receive your payment within 30 minutes of time.

As mentioned above, ICICI Direct offers 4 types of brokerage plans to its customers:

  1. ICICI Neo Plan

With this plan, it avails brokerage-free Equity Futures trading. It just charges for delivery only and the amount is 0.55% of trade value. For Intraday and Futures & Options it charges a brokerage of Rs. 20/- per executed order.

Segment Brokerage
Equity Delivery 0.55%
Intraday 20/- per executed order
Equity Futures Rs. 20/-
Options  20/-
Currency Futures & Options 20/- per executed order
Commodity Futures & Options 20/- per executed order
NCD / Bonds 0.75%

 

  1. ICICI Direct Prime Plan

With Prime Plan, you get money instantly into your account after selling your shares. In this plan, you get a maximum discount on brokerage charges and it comes with four prime membership plans – Rs. 299/-, Rs. 999/-, Rs. 1,999/- and 2,999/-. With each plan, it avails you of an additional reduction in your brokerage’s fees across all derivatives and equity products. Irrespective of the amount, each plan is valid for 365 days.

Plan Equity Cash Futures (Equity)
Options (Equity)
Currency F&O Commodity Futures
Rs. 299/- 0.27% 0.027% Rs. 40/- per lot Rs. 20/- per order Rs. 20/-per order
 999/- 0.22% 0.022%  35/- . 20/-  20/-
 1,999/- 0.18% 0.018% Rs. 25/- per lot Rs. 20/- per order Rs. 20/- per order
Rs. 2,999/- 0.15% 0.015%  20/-  20/- per order  20/-

 

  1. I-Secure Plan

As the name suggests, this plan offers maximum security in terms of brokerage charges. With this plan, you get flat brokerage irrespective of the trade value or volume, however, you pay brokerage in percentage (%). As per its name (I-Secure), the plan suits people who want to trade and invest in the share market with a secured and fixed brokerage.

Segment Brokerage
Equity Delivery 0.55%
Equity Intraday 0.275%
Future (Equity) 0.05%
Options (Equity) Rs. 95/- per order
Currency Futures & Options
Commodity Futures & Options Rs. 20/- per executed order
NCDs / Bonds 0.75%

 

  1. ICICI Direct Prepaid Brokerage Plan

It offers six prepaid plans available with ICICI Direct and each plan has a validity of 15 years. In this prepaid scheme, you pay a one-time fixed amount in advance, and you enjoy worry-free trading at discounted rates.

Prepaid Plan Equity Cash Future Equity
Options Equity
Currency F&O Commodity Futures
Rs. 5,000/- 0.25% 0.025% Rs. 35/- per lot Rs. 20/- per order Rs. 20/-
12,500/- 0.22% 0.022%  30/- per lot  20/-  20/-
Rs. 25,000/- 0.18% 0.018% Rs. 25/- Rs. 20/- per order Rs. 20/- per order
 50,000/- 0.15% 0.015% . 20/- per lot 20/-  20/-
Rs. 100,000/- 0.12% 0.012% Rs. 15/- Rs. 20/- per order Rs. 20/- per order
 150,000/- 0.09% 0.009%  10/- per lot 20/- per order  20/- per orde

 

Brokerage salient Features
  • With the I-Secure plan, for delivery, you pay Rs. 35/- per trade or 2.5% of the trade value (whichever is lower).
  • In Prime Plan & Prepaid Plan, you just have to pay Rs. 25/- per trade or 2.5% of the trade value (whichever is lower), for delivery.
  • ICICI Direct charges only Rs. 0.05/- (or 5 paise) as the brokerage for stocks that are valued lesser than Rs. 10/- per share.

Application & Desktop Platform

To facilitate online trading, the company offers 3 trading platforms on its portal:

ICICIDirect.com web portal

It ranks as the most used trading website in India for over two decades. This platform offers Mutual funds, Insurance, SIPs, and IPO services along with Demat and trading accounts services. With this, you also get a research and recommendations facility.

Trade Racer

ICICI Direct offers this trading software that you can install on your PC (Desktop/Laptop). Compared to a web-based trading environment, it offers better response time along with some very useful trading tools designed for instant access to data for analysis. And the best part is, it is totally free from the company.

Mobile Trading App

To trade in stocks at your fingertips from anywhere, ICICI Direct offers a mobile-based trading app for your trading needs. If you are an Android user, you can download it from Play Store and if you are an iOS user, you can get it from Apple Store. With this app, you can trade in Equity, MFs, Future & Options, IPOs, etc., and make buy/sell from anywhere. Besides this, you can monitor your stocks in real-time, can get price alert instantly, monitor your portfolios, can get research & recommendation, live trading calls, analyze multiple watch lists, etc.

Refer and Earn

If you refer someone to open a Demat and Trading Account with ICICI Direct, you receive Rs. 100/- when the referred person successfully opens an account using the referred link.

Additionally, you get Rs. 400/- as commission if the person you have referred to, places a trade in Equity, commodities, or Futures & Options segments within 30 days of such an account opening.

And if we talk about the referee, then he gets an additional Rs. 7,099/- benefits along with a free Trading & Demat account.

There are some terms & conditions that you have to observe to receive such benefits –

  1. The referrer must already be a client of ICICI Direct before making such a referral.
  2. However, you can refer any number of customers in a month but you receive commission just for the first 100 clients.
  3. Employees of ICICI Securities or ICICI Group are not eligible for the ‘Refer & Earn’ program.
  4. The referee (the person you have referred to) must open the account using your referral link only. If opens the account without using your link then you don’t get any benefits. Also, it must use this link within 60 days.

Why It is Different From Others

  • It offers a convenient and well-integrated 3-in-1 account facility for a seamless trading experience.
  • ICICI Direct pays a lot of attention to the improvement of its online services as per users’ needs.
  • You get money immediately into your bank account as soon as ICICI Direct receives it after you sell your stocks.
  • It avails you of a wide range of investment options such as mutual funds, GOI Bonds, IPOs, Postal Saving Schemes, etc.
  • offers you to trade in BSE as well as in NSE apart from various exchanges.
  • ICICI Direct offers a lightweight trading platform that facilitates a seamless trading experience. Even if you have a slow internet connection, you can still perform trading easily.
  • VTC (Valid Till Cancelled), where you can set limits on buy/sell orders. And it is valid for 45 days.

However, with ICICI Direct, you get the best financial services compared to other discount brokerages but on the flip side, being a full-services brokerage, it charges more compared to other stock brokers.

Contact Us

You can reach out to ICICI Direct such as –

Registered Office:

ICICI Venture House,

Appasaheb Marathe Marg,

Prabhadevi, Mumbai – 400 025, India

Tel: (+91 22) 6807 7100

Fax: (+91 22) 6807 7803

Official website: www.icicisecurities.com

 

 

 

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Ankita Maurya
Ankita Mauryahttp://www.theofferreview.com
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