ICICI Direct

(3.2)
3.2/5

ICICI Securities Limited is a part of nationally renowned ICICI Group. ICICI Direct is a prominent part of ICICI Securities that offers various investment choices such as stocks, mutual funds, bonds etc.

Product Basket

The segments in which you can invest (includes Equity, Commodity, Currency, Futures and Options) through this broker

Pros

Advantages and Strengths of this broker.

Cons

Disadvantages of this broker that it needs to improve upon.

ICICI Direct Ratings & Reviews

Ratings are provided based on customer service, usability, charges and overall average. Reviews are based on positive and negative aspects of the broker that help you understand this broker better.

Charges

(2.5)
2.5/5

Usability

(3)
3/5

Customer Service

(3.4)
3.4/5

Charges Review

  • ICICI Direct offers low brokerage charges for traders at extra charges and under certain conditions.
  • Equity delivery charges are higher as compared to others.
  • They have different brokerage plans & margin plans for which are chargeable.
  • Their Call & Trade charges are minimal with unlimited order placing facilities.
 

Customer Service Review

  • ICICI Direct provides support over call & email.
  • As per customer reviews, the support is prompt.
  • They do not provide chat support and the option to raise a ticket is also not available.
  • Dedicated RM is provided to all customers.
  • They have physical branches present in most of the cities.
 

Ease of Use Review

  • The trading platforms are user friendly and easy to navigate.
  • ICICI Direct provides free trading calls & research reports over mail and website.
  • A single platform can be used to invest in insurance, home loans, FDs etc.
  • Educational content is adequately available on the website and is categorized for beginners, traders etc.
 

Account Opening Procedure Review

  • The online account opening process is easy for individual accounts.
  • A copy of POA form needs to be submitted mandatorily for physical verification.
  • The offline process is cumbersome and time consuming.
  • They support NRI accounts as well.
  • Upon successful account opening you’ll get additional subscriptions (online courses, magazines etc.) for free.

Why Choose ICICI Direct?

Verdict

 

 

ICICI Direct offers various trader-friendly plans with reduced brokerage. Their web trading platform lacks terminal experience. Equity delivery is chargeable in all plans. They offer limited leverage across plans.

 

 

If you are a trader, the broker provides you with

  • They have premium plans with different rewards for the customers.

  • Technical analysis & charting tools are available in the trading platforms.

  • Equity ATM facility is available which means that the amount is immediately credited to your account upon selling of shares (available only on sale of selected stocks). You are entitled to receive up to ₹ 50,000 per day within 30 minutes of the execution of the order.

 

If you are an investor, the broker provides you with

  • They provide free subscriptions of premium online courses, magazines etc. 
  • They also publish an e-magazine named ‘Money Manager’ for market updates. Also provide recommendations and research reports.
  • Customers can check their portfolio’s risk component and also find targeted investment plans on the website by simply logging in. 
 

Trading Tools

 

ICICI Direct Mobile 

A mobile trading application offered for both Android & iOS users. The simple and user-friendly interface is helpful for both traders and investors. The app offers features such as stocks movement with real time quotes. Apart from stocks & mutual funds, customers can also invest in bonds, FDs, Insurance, NPS, and even apply for loans through this app.

 

Trade Racer 

Trader Racer is a website from ICICI Direct used for trading & investment. Customers who find using the app inconvenient can access this website from any computer or desktop. It provides a single platform for trading in all segments. Also provides advanced charting features, access to trading calls and research reports, and quick fund transfer and payout facility.