Know Your Broker: ICICI Direct Review, Brokerage Plans, Margins and Customer Care

ICICI Direct Products

The investment segments that you can make (equity, commodity, currency, futures and options) via ICICI Direct.The non-broking products / services like Mutual Funds, Insurance, FD/ Bonds, loans, PMS, Tax, NPS, IPO, Research, Financial Learning, ESOP funding etc.

Equity
Commodity
Currency

Futures
Options

ICICI Direct Trading Softwares

ICICI offers various platform which can be used on desktop and mobile. Easy to use and all platforms are integrated with ICICI Banking for seemless experience.

ICICI Direct Mobile
Trade Racer

ICICI Direct Brokerage Plans

Choose from one or more plans below. Use tabs if multiple plans available. A single plan includes all the basic charges and brokerages, margins, etc.

ICICI Direct Other Investment Options

The broker can provide services for investing in other financial assets like Mutual funds, Insurance, Bonds, and so forth.

Mutual Funds
IPO Platforms
Bonds & Debt

Exchange Traded Funds
Insurance

ICICI Direct Additional Features

ICICI Direct offer additional features at no or minimal cost. Like research reports, SMS alerts etc.

3 in 1 Account
Free Recommendations
Free Research Reports

SMS Alerts
Margin Funding
Margin Against Share

ICICI Direct Pros

Advantages and Strengths of this broker.

Customers can place limit orders up to 45 days after they are placed using the VTC (Valid Till Cancelled).
It provides research-based financial advice for all asset classes.
Customers receive technical analysis and stock tips at no cost.
The 3-in-1 account combines your broking, banking and demat accounts. All accounts are ICICI and well integrated. This makes ICICI one of the most attractive players in online trading. No manual intervention is required. This is online trading.
Unlike many online trading companies in India, which require money to be transferred to the broker's pool and towards deposits, ICICIDirect allows you to manage your demat and bank accounts via ICICIdirect.com. Money earned from the sale of stock can be deposited in an ICICI bank account once it is received by ICICIDirect.
Online investment in IPOs and Mutual Funds, GOI Bonds, GOI Bonds, GOI Bonds, GOI Bonds and Postal Savings Schemes can all be done from one website. ICICI Lombard also offers general insurance.
Trading is allowed in NSE and BSE.
For trading on mobile devices or slow internet connections, a low bandwidth website may be available.

ICICI Direct Cons

Disadvantages of this broker that it needs to improve upon.

Brokerage costs are higher than other brokerage. Customers must subscribe to ICICI Direct Prime or prepaid brokerage plans to avoid higher brokerage.
For traders who don't trade often, the minimum brokerage fee per I-Secure Plan plan is extremely high.
Customers who trade penny stocks receive a higher brokerage fee from ICICI Direct.
After the 20 first calls free of charge, call and trade charges are high.
The minimum brokerage fee for ICICI standard I-Secure Plan trades is Rs 35. This is very high especially for small traders.
Flat Rs 0.05 per share brokerage for stocks quoting above Rs 10 is charged by ICICI. It is very difficult to trade penny stocks.
ICICIdirect charges Rs 25 for calls & trades after the first 20 free calls per month.

Our Conclusion

Conclusion

ICICI Direct offers a variety of trader-friendly plans that offer reduced brokerage. The web trading platform does not offer terminal experience. All plans include equity delivery. They provide limited leverage between plans.

The broker will provide for trader clients.

You can choose from a variety of rewards and premium plans.
The equity ATM facility is available. This means that you can have the amount immediately credited to your account after selling shares. It is only available for certain stocks. Within 30 minutes of execution, you can receive Rs. 50,000 per day.
Trading platforms offer technical analysis and charting tools.

The broker will provide for investors.

You can subscribe for free to premium online courses and magazines.
For market updates, they also publish an electronic magazine called 'Money Manager'. They also provide research reports and recommendations.
Logging in is all it takes to check your portfolio's risk and find targeted investment options.

ICICI Brokerage Charges Review

ICICI Direct offers traders low brokerage fees, with additional charges and under certain conditions.
The charges for equity delivery are more expensive than other fees.
There are different brokerage plans and margin plans that can be used.
They offer unlimited order placement and call & trade charges.

ICICI Direct Customer Service Review

ICICI Direct offers support by phone and email.
Customer reviews indicate that the support team is responsive and prompt.
Chat support is not provided and tickets cannot be raised.
All customers receive a dedicated RM.
There are physical branches in many cities.

ICICI Trading Platform Review

The trading platforms are easy to use and navigate.
ICICI Direct offers free trading calls and research reports via mail or website.
One platform can be used for insurance, home loans, FDs, etc.
The website has adequate educational content and can be categorized for traders, beginners, etc.

Revision of the Account Opening Procedure

Individual accounts can be opened online easily.
For physical verification, a copy of the POA form must be submitted.
The offline process can be cumbersome and time-consuming.
They also support NRI accounts.
Upon successful account opening you'll get additional subscriptions (online courses, magazines etc.) You can get your subscriptions for free.