ICICI Direct Review 2021: Margin, Brokerage, Demat Charges, & more

The ICICI Direct which is a part of ICICI Securities ranks number one in the full-service stockbrokers’ list. It is armed by the leading private financial services provider ICICI Group which is in existence since 1994.

The high-quality and customized services along with the 3-in-1 account facility are what the company counts on to be able to capture such a vast number of active clients. They have been number one in terms of active customers until 2019 when the top discount broking firm Zerodha toppled them with a client base of more than 2 million. However, ICICI Direct is the most visited trading platform in India.

The reason why a lot of investors and traders would want to trade through this company is that they not only provide the general stockbroking products and services but also a huge range of insurance products, financial distribution products, investment banking, institutional trading, wealth management services, Home Loans, Bonds, Fixed Deposits, IPO services, NCDs and loan against shares.

They were the first in India to start issuing digitally signed contract notes to its customers and since then it had been automated by each stockbroker.

In this ICICI Direct review article, we are going to discuss how was ICICI Direct originated, the brokerage and other charges they charge, why it is recommendable to trade through this retail stockbroking firm.

We will also include what disadvantages an investor will have to accept if they trade with them, what range of other products and services they offer apart from the stockbroking service and much more.

ICICI Direct Review: Pros and Cons

There are many advantages to trade with the full-service retail broker due to its offerings in various segments and high-quality services. However, those who are well-versed with the market can find few disadvantages due to their vast experience of trading with other firms too, and hence below are the general pros and cons that may be subjective for each person.

Pros:

• Their products and services are ranked value for money in the stockbroking industry due to their additions and innovations to new products and services almost every year.
• The users also get an advantage of learning the stock market fundamentals from the panel of experts through their ‘Webetorial’ and eLearning portal.
• They have a PAN India presence in many cities across the country as well as outside India.
• Their trading platforms are based on advanced technologies and provide a very smooth trading experience to their users which is self-explanatory. The availability of multiple widgets on such platforms makes their customer’s trading experience an efficient decision-making process.
• They offer a dedicated team of customer support executives who are well-structured and for the personalized needs, they also provide the relationship managers. They also offer in-person consultation for new entrants in the market.
• It serves as your one-stop solution for your trading as well as financial related needs.
• A variety of brokerage plans are offered considering specific requirements and different types of investors and traders.

• They charge a bit too high brokerage charges from their users for the trading through various platforms and these charges are non-negotiable.
• They also have a minimum brokerage charge system where the customers are charged a certain minimum brokerage irrespective of their trading quantity.
• They offer Demat account services only if users have a bank account with ICICI Bank.

Closing Thoughts

A detailed ICICI Direct review – one of the best discount brokers in India. In this article, we have covered all the important details of ICICI Direct – review, brokerage charges, Demat account, margin, benefits, and more. Check reviews of other top brokers on Nifty Brokers.