When you invest in the stock market, you anticipate a positive return. As a result, choosing the right broker is critical. Historically, there were very few stockbrokers.
Finding a good stockbroker to conduct trades on your behalf was difficult. In this article, we have mentioned all the things about ICICI Demat Account and also its plans.
With the advent of technology and digitization. You can now readily locate a plethora of possibilities in the market.
Moreover, the ICICIdirect is one of the most well-known stockbrokers in the market today.
What is ICICIdirect?
ICICIdirect is one of India’s most well-known retail stockbrokers. Moreover, it is a member of the ICICI Group, provides users with internet trading and investment services.
At the BSE, NSE, and MCX, equities, commodity, and currency trading are available. Mutual funds and initial public offerings are also available, as well as fixed deposits, bonds, and NCDs.
The 3-in-1 account, which comprises an ICICI Bank account, an ICICI Trading account, and also an ICICI Demat account.
It is ICICIdirect’s most popular service. Moreover, the three-in-one account ensures a smooth trading experience.
ICICI Direct Demat Account Opening Charges
| Demat Services | ICICI Direct |
|---|---|
| Charges [One Time] (Trading) | Rs 0 (Free) |
| AMC [Yearly] (Trading) | Free |
| Charges [One Time] (Demat) | Rs 0 (Free) |
| AMC [Yearly] (Demat) | 300 Rs (from 2nd year) |
Pros & Cons
Pros
- Your money and investment will be safe.
- Innovative products include Margin, MarginPlus, BTST, and SPOT.
- Moreover, trading in derivatives, NRI services, mutual funds, IPOs, and also online life insurance is available.
- You’ll also get paid right away if you sell your investments.
Cons
- Delivery brokerage is extremely high.
- For little and penny stock traders, this is not a suitable fit.
- Charges for using a trading terminal.
- Minimum Brokerage Fees are Exorbitant.
Plans for ICICI Direct Brokerage
The full-service brokerage offers a variety of options for its clients, each with a different brokerage structure. They include the following:
Neo ICICIdirect
ICICI has unveiled a new zero-brokerage plan called “ICICIdirect Neo.” Moreover, ICICI Direct Neo is a one-of-a-kind trading plan.
It also provides limitless trading with $0 brokerage on all Futures trades and a flat Rs. 20 per order for Margin and Options trades.
Consumers of ICICIdirect Neo will benefit from many unique features, including instant liquidity.
It also allows customers to receive cash within 30 minutes of selling stocks according to their chosen plan.
Plan for Savings
This strategy is founded on the premise of generating a total turnover in three months. Also, there are several slabs with prices ranging from 25 lakhs to 5 crores.
Moreover, the smaller the brokerage you pay to the broker, the higher the turnover
Safe Plan
This plan does not guarantee turnover, and you are required to pay a fixed brokerage fee on all trades.
It is recommended that you have a thorough discussion before opening your account and negotiating. The brokerage because it will apply to all of your future trades.
Brokerage Prepaid Plan
An investor is required to make an upfront payment to the broker under this brokerage plan.
Moreover, the lesser the cost, the lower the brokerage on your trades. Moreover, the commissions from your trades will be deducted automatically from your initial deposit.
ICICI Direct Brokerage Charges
| Brokerage Charge & Fees | |
|---|---|
| Delivery Equity | 0.55% |
| Intraday Equity | Rs 20 per order |
| Futures Equity | Rs 0 (Free) |
| Options Equity | 20 per order |
| Futures Currency | Rs 20 per order |
| Options Currency | 20 per order |
| Commodity | Rs 20 per order |
| Minimum Brokerage | 20 per Trade |
| Demat AMC Charges | Rs.300 per Annum from 2nd year |
| Trading AMC Charges | Zero |
How to Open an ICICI Direct Account?
To open an ICICI Direct Securities Ltd. account, you must go through a simple procedure.
You’ll need to open three accounts to trade with ICICI securities: an ICICI bank account, a trading account, and a Demat account.
Moreover, users who already have an ICICI bank account can link it to their trading account. There are only two simple ways to open an account.
- To open an account, go to ICICI Direct.com and click on ‘open account.’ Now, fill out an application and they will contact you.
- Call ICICI toll-free or go to an ICICI bank branch near you. Moreover, tell them in brief you want to open an account, and they’ll walk you through the procedure.
Platforms for ICICI Direct Trading
ICICI Direct, one of India’s leading full-service brokers, enables its investors to make the most of technology to experience unprecedented convenience in stock trading.
ICICI Direct Trade Racer
Trade Racer is a terminal-based trading software that must be downloaded and installed on a computer as an executable file.
It is also intended to provide users with a complete stock trading experience. The following are the primary characteristics:
- All current scrips can be viewed on a single screen and also the interface.
- Clients can also rapidly identify equities that are trending high or low using the Live scanning tool.
- Color patterns and also market charts can be customized.
- Without having to observe the data, also the Heatmap feature allows you to find stocks that are high or low in price.
- Clients who can generate monthly brokerage of more than 750 dollars will be granted free access to this trading platform. And those who cannot be charged $75 per month as a subscription fee.
Finally, be sure that the computer or laptop you use to run this trading software has a good configuration of RAM, processor, memory, and other components.
Otherwise, you can end up with a mediocre trading experience.
ICICI Direct Trade Racer web
It’s Trade Racer’s web browser-based version. This trading platform may be accessed using practically any browser.
Therefore, there is no need to download and install any software. Moreover, its primary characteristics are as follows:
- Quotes in real-time and also on-demand
- The ability to drag and drop widgets is enabled.
- Up to five watchlists are possible.
- Notifications and also alerts for users
- There are multiple watch lists available, and also each with live streaming quotes.
- Check the current limit, CMP with the best 5 bids/offers, change the allocation in one window, and even more.
App for ICICI Direct
The trading app is designed to assist users in stock trading on the fly. There are numerous features in the app, including:
- The most recent quotes, scrips, and also market updates can all be examined.
- Market movement and also portfolio tracking
- Market updates and also live research calls
What makes ICICI Direct better than Others?
Consumers like the effective and user-friendly trading tools that provide the dealer with evidence of practice. ICICI Investments offers the best investment prospects on the market.
The marketing research ideas and also guidance in the middle are trustworthy and setting up an ICICI direct 3-in-1 account is simple for ICICI banking users.
Moreover, in this head-to-head comparison with other Demat accounts, their reporting, reliability, and customer service are advantages.
Conclusion
At ICICIdirect, you may get top trading services with no brokerage fees. Open a trading and Demat account with ICICIdirect – India’s finest retail broker.
So that, you can start investing immediately, with numerous brokerages plans and real-time capital gains computations.
Thank you for devoting your time and reading our Review of ICICI Demat Account.
If you like ICICI Demat Account , you should also give a try to Axis Bank Demat Account and HDFC Demat Account.
FAQs
Is it possible to open a three-in-one trading account with ICICI Securities?
Yes, ICICI Securities provides its customers with a three-in-one trading account.
Is it possible to invest in mutual funds through the ICICI Brokerage firm?
Yes, the ICICI Brokerage firm allows you to invest in mutual funds.
Is it possible to invest in Fixed Deposits with ICICI Brokerage?
Yes, the ICICI Brokerage firm allows you to invest in Fixed Deposits.
Amit Gupta is the creator of FreeDematAccount.in, a website that specializes in Demat accounts and provides assistance to all its users in navigating through complicated decisions. After completing his high school certification, Amit spent half a decade learning about Demat accounts from brokerages. Before forming FreeDematAccount.in, Amit worked for a Demat account brokerage.