ICICI direct Stock Trading, Demat and Brokerage Reviews
Posted: Sep 26, 2022
ICICI direct is India’s one of the largest retail stock brokers. It is part under the ICICI Group. It offers online trading and investment services to over 50 lakhs customers. The company also offers services such as include equity, commodity, and currency trading at BSE, NSE, and MCX. This company also offers services like Mutual Fund & IPO, Fixed deposits, Bond, NCD, wealth products, Home Loans, Loans against Securities, etc.
ICICI direct’s most popular service is its 3-in-1 account that includes ICICI Bank Account, ICICI Trading Account, and ICICI Demat Account.
ICICI Direct also offer multiple brokerage plans such as I-Secure Plan, ICICI direct Prime Plan, Lifetime Prepaid Brokerage Plan and Neo Plan.
ICICI Neo Plan is a flat rate brokerage plan. It offers brokerage-free equity futures trading. It charges flat Rs 20 per executed order brokerage for Equity Intra-day and Options trading and 0.55% brokerage for equity delivery. This plan offers access to trading tips and research, 5 minutes pay out when selling shares, and margin funding at a low-interest rate.
ICICI direct consists of a unique and wide range of Products and features like One Click Equity, Margin Trading Funding (MTF), Smart Trading features and simplicity of investing in equity with Systematic Equity Plan and much more.
ICICI direct offer two types of accounts:
3-in-1 Account - A 3-in-1 account is a mixture of the bank, trading, and demat accounts offered by ICICI Demat Account. These accounts are joined together for seamless transactions between them.
2-in-1 Account - A 2-in-2 account constains a trading and a demat account. The customer can make use of their non-ICICI bank account to connect to the trading and demat accounts. This helps customers to avoid opening a new bank account with ICICI bank to trade and invest with ICICI direct.
Now from this you can conclude from the table, they typically impose a brokerage fee of Rs.20 per order or relatively free for Futures and Delivery segments.
This data is in refrence with the most attractive plan, ICICI Direct Neo. It has a market demand highly equivalant to the best brokerage plans in the market.
ICICI Direct charges Rs.300 per annum in concern to the annual maintenance charges for Trading Account and Rs. 0 per annum for the yearly maintenance charges for Trading Account.
They also have made it necessory for their respective traders and investors to maintain a minimum balance of 75% Margin in concern the Margin Money to trade seamlessly.
ICICI offers four types of brokerage plans to its customer:
1. ICICI Neo Plan
ICICI Neo Plan helps to trade brokerage-free in Equity Futures. It has a charge of Rs 20 per trade brokerage for Intraday and F&O, and 0.55% brokerage for Equity Delivery.
2. ICICI direct Prime Plan
ICICI direct Prime plan is designed to minimise the brokerage charges and also get money instantly in their bank account when selling shares. Four prime plans are available - Rs 299, Rs 1,999 and Rs 2,999 to customers and each of these plans offers an upfront deduction in brokerage across all equity and derivative products. All plans are valid for year.
3. I-Secure Plan (Flat brokerage Plan)
This plan has its Flat Brokerage (in %) irrespective of the turnover value. This plan is perfect for traders/investors who look at the secured and fixed brokerage.
4. ICICI direct Prepaid Brokerage PlanICICI direct Prepaid plan offers reduced brokerage rates when you pay a one-time fixed fee upfront. There are total 6 prepaid plans available. Each plan is valid for 15 years.
To be the Best Stock Broker in India, numerous entities are competing and enriching their facilities and services to serve customers with enhanced support and reassurance.