ICICI Direct is a well-known financial services provider that offers a variety of investment options to its customers. One of its services is the Demat Account, which is used to hold shares and other securities in electronic format. The ICICI Direct Demat Account is designed to be user-friendly and easy to use, with a simple and intuitive interface that makes it easy for customers to manage their investments. It also offers a range of features and benefits, such as a 3-in-1 account that integrates a Demat Account, trading account, and savings account, and the ability to trade in multiple segments, including equity, derivatives, and mutual funds.
Number of active clients ICICI Direct
As per the data available on the National Stock Exchange (NSE) website as of 31-Mar-2023, ICICI Direct had a total of 500733 active clients. This number includes both individual and institutional investors who have opened a trading and/or Demat account with ICICI Direct.
Benefits of Demat account with ICICI Direct
There are several benefits of opening a Demat account with ICICI Direct, some of which are:
- Easy and Secure: ICICI Direct’s Demat account is an electronic way of holding shares and securities in a safe and secure manner. It eliminates the need for physical certificates and helps in reducing the risk of loss, theft or damage.
- 3-in-1 Account: ICICI Direct offers a 3-in-1 account that integrates a Demat account, trading account, and savings account. This makes it easy to manage investments and trading activities from a single platform.
- Multiple Investment Options: ICICI Direct’s Demat account allows you to invest in various securities such as equity shares, mutual funds, bonds, and government securities. This gives you a diverse range of investment options to choose from based on your risk profile and investment goals.
- Convenience: ICICI Direct’s Demat account provides customers with the convenience of online trading and investing. You can access your account from anywhere, at any time, and trade in real-time with just a few clicks.
- Research and Analysis: ICICI Direct provides customers with access to various research and analysis tools that help in making informed investment decisions. These tools include market updates, expert recommendations, and technical analysis reports.
- Competitive Brokerage Charges: ICICI Direct’s brokerage charges are competitive and transparent, with no hidden charges. They offer various brokerage plans to choose from based on your trading preferences and investment goals.
ICICI Direct Brokerage Charges
ICICI Direct offers various brokerage plans to its customers based on their trading preferences and investment goals. Here are the details of the brokerage charges levied by ICICI Direct:
- Equity Delivery: For buying and selling equity shares, ICICI Direct charges a brokerage fee of 0.55% of the total transaction value. This means that if you buy shares worth Rs. 10,000, the brokerage charged by ICICI Direct will be Rs. 55.
- Equity Intraday: For buying and selling equity shares on the same day, ICICI Direct charges a brokerage fee of 0.275% of the total transaction value. This means that if you buy and sell shares worth Rs. 10,000 on the same day, the brokerage charged by ICICI Direct will be Rs. 27.5.
- Futures: For trading in futures contracts, ICICI Direct charges a brokerage fee of 0.05% of the total transaction value. This means that if you trade futures contracts worth Rs. 10,000, the brokerage charged by ICICI Direct will be Rs. 5.
- Options: For trading in options contracts, ICICI Direct charges a brokerage fee of Rs. 95 per lot (i.e., for buying or selling a single options contract).
ICICI Direct Account Opening Charges
To open a trading and Demat account with ICICI Direct, customers need to pay the following charges:
- Account Opening Charges: ICICI Direct charges a one-time account opening fee of Rs. 975 for both trading and Demat accounts. However, this fee is waived off for customers who open a 3-in-1 account.
- Annual Maintenance Charges: ICICI Direct also charges an annual maintenance fee of Rs. 500 for the Demat account. However, this fee is waived off for customers who maintain a minimum balance of Rs. 50,000 in their trading account.
- Brokerage Charges: ICICI Direct charges brokerage fees for trading in various segments such as equity, futures, and options. These charges are based on the brokerage plan chosen by the customer and can vary from plan to plan.
- Other Charges: ICICI Direct also charges various other fees and charges such as transaction charges, demat account charges, and taxes. These charges are levied as per the prevailing rates and are subject to change.
ICICI Direct Demat Account Charges
ICICI Direct charges various fees and charges for its Demat account services. Here are some of the major Demat account charges levied by ICICI Direct:
Transaction Charges: ICICI Direct charges a transaction fee for every debit instruction in the Demat account. For every debit transaction, a flat fee of Rs. 13.50 plus GST is charged.
Dematerialization (Demat) Charges: ICICI Direct charges a fee for converting physical share certificates into electronic form. For every share certificate, a flat fee of Rs. 5.50 plus GST is charged.
Rematerialization Charges: ICICI Direct charges a fee for converting electronic shares back into physical form. For every share, a fee of Rs. 25 plus GST is charged.
Pledge Creation Charges: ICICI Direct charges a fee for pledging shares held in the Demat account. For every pledge instruction, a flat fee of Rs. 50 plus GST is charged.
ICICI Direct Pros and Cons
ICICI Direct is a popular brokerage firm in India, and like any other financial service provider, it has its own set of advantages and disadvantages. Here are some of the key pros and cons of using ICICI Direct for trading and investment:
Pros:
- Wide Range of Investment Options: ICICI Direct offers a wide range of investment options such as equities, derivatives, mutual funds, IPOs, and bonds, allowing customers to diversify their investment portfolio.
- 3-in-1 Account: ICICI Direct offers a 3-in-1 account, which integrates a trading account, Demat account, and savings account, making it easy to manage investments and trading activities from a single platform.
- Research and Analysis Tools: ICICI Direct provides various research and analysis tools to help customers make informed investment decisions, including market updates, expert recommendations, and technical analysis reports.
- Competitive Brokerage Charges: ICICI Direct offers competitive brokerage charges, with different plans available to suit the needs of different types of investors.
- Easy Access: ICICI Direct offers easy access to online trading and investment through its user-friendly trading platform and mobile app, making it convenient for customers to invest and trade from anywhere, at any time.
Cons:
- High Account Opening Charges: ICICI Direct charges a one-time account opening fee of Rs. 975, which may be a significant expense for some investors.
- Annual Maintenance Charges: ICICI Direct charges an annual maintenance fee of Rs. 500 for the Demat account, which may be a recurring expense for customers.
- Customer Support: Some customers have reported issues with ICICI Direct’s customer support, including delays in resolving issues and unresponsive customer service.
- Limited Exposure to International Markets: ICICI Direct’s trading platform offers limited exposure to international markets, which may not be suitable for investors looking to diversify their portfolio with international securities.
ICICI Direct Margin
ICICI Direct offers margin trading facilities to its customers, which allows them to buy and sell securities by borrowing money from the broker. Here’s a brief overview of the margin trading facilities offered by ICICI Direct:
- Equity Margin Trading: ICICI Direct offers margin trading for equities, which allows customers to trade in equities by putting a margin amount instead of the full value of the shares. The margin amount can be as low as 10% of the value of the shares, subject to certain conditions.
- Derivative Margin Trading: ICICI Direct also offers margin trading for derivatives, including futures and options. The margin requirement for derivative trading varies depending on the type of derivative and market conditions.
- Margin Funding: ICICI Direct also offers margin funding facilities to its customers, which allows them to borrow funds from the broker for margin trading. The margin funding interest rate varies depending on the amount borrowed and the duration of the loan.
How to open ICICI Direct demat account?
You can follow these simple steps to open a Demat account with ICICI Direct:
- Visit the ICICI Direct website or download the mobile app.
- Click on the ‘Open an Account’ tab and select ‘I am an individual’.
- Fill in your personal and contact details such as name, email ID, phone number, etc.
- Select the type of account you want to open – Demat and Trading account, or only Demat account.
- Fill in your bank account details and upload the necessary KYC documents such as Aadhaar card, PAN card, passport size photograph, etc.
- Agree to the terms and conditions, and submit the form.
- Once your application is approved, you will receive a welcome kit containing your account details and other necessary information.
Alternatively, you can also visit any ICICI Bank branch or ICICI Direct office to open a Demat account in person.
Why choose ICICI Direct stock market app?
ICICI Direct is a popular stock brokerage firm in India, and its stock market app offers several advantages for investors looking to trade or invest in the stock market. Here are some of the key reasons why you may want to choose the ICICI Direct stock market app:
- User-Friendly Interface: The ICICI Direct app has a user-friendly interface, which makes it easy to navigate and use.
- Wide Range of Investment Options: The app offers a wide range of investment options, including equities, derivatives, mutual funds, IPOs, and bonds, allowing investors to diversify their portfolio and invest in different types of securities.
- Real-time Market Updates: The app provides real-time market updates and news, which allows investors to stay informed about market trends and make informed investment decisions.
- Research and Analysis Tools: The app provides various research and analysis tools, including expert recommendations, technical analysis reports, and market insights, which can help investors identify investment opportunities and make informed decisions.
- Trade Anytime, Anywhere: The app allows investors to trade or invest in the stock market anytime, anywhere, using their mobile devices, making it convenient for investors who are always on the go.
- Secure and Reliable: The ICICI Direct app is secure and reliable, and offers several security features, including two-factor authentication, to ensure the safety of investors’ funds and personal information.
ICICI Direct Customer Support
ICICI Direct offers customer support services through various channels to ensure that its customers have a smooth and hassle-free trading experience. Here are some of the customer support channels offered by ICICI Direct:
- Customer Care Helpline: ICICI Direct has a customer care helpline that can be reached by calling 1860-123-1122 or 022- 4060-0500. (Monday to Friday between 8:00 am to 8:00 pm and on Saturdays from 9:00 am to 6:00 pm.)
- Email Support: Customers can also send their queries or complaints to ICICI Direct’s customer support team via email at [email protected]. The team usually responds within 1-2 working days.
- Live Chat Support: ICICI Direct also offers a live chat support service, which allows customers to chat with the customer support team in real-time and get their queries resolved quickly.
- Branch Offices: ICICI Direct has a wide network of branch offices across India, where customers can visit and get their queries resolved in person.
Final Word
ICICI Direct is a popular stock brokerage firm in India that offers a wide range of investment options and services to its customers. Its stock market app and website provide a convenient and user-friendly platform for investors to trade or invest in the stock market. Additionally, ICICI Direct offers various research and analysis tools, real-time market updates, and customer support services to ensure that its customers have a smooth and hassle-free trading experience.
FAQ
A: ICICI Direct is a popular online trading platform and brokerage firm in India that offers a range of investment options and services, including equity, derivatives, mutual funds, IPOs, and bonds.
A: To open a Demat account with ICICI Direct, you can visit their website or download their mobile app, fill in the required details, and submit the necessary documents.
A: The brokerage charges for trading with ICICI Direct vary depending on the type of investment and the trading volume. You can find the detailed brokerage charges on their website.
A: The minimum amount required to open an account with ICICI Direct varies depending on the type of account you choose. For example, the minimum amount required to open a Demat account is Rs. 1000.
A: Some of the benefits of opening a Demat account with ICICI Direct include paperless trading, seamless transfer of securities, free research reports, and access to a range of investment options.
A: Yes, ICICI Direct offers margin trading, which allows investors to trade using borrowed funds.
A: You can contact ICICI Direct’s customer support team through various channels, including their customer care helpline, email support, live chat support, branch offices, and social media.
A: Yes, ICICI Direct’s trading platform is secure and offers various security features, including two-factor authentication, to ensure the safety of investors’ funds and personal information.
A: The account opening charges for ICICI Direct vary depending on the type of account you choose. For example, the account opening charges for a Demat account is Rs. 0.
A: Some of the pros of using ICICI Direct include a user-friendly interface, a wide range of investment options, real-time market updates, research and analysis tools, and convenient trading options. Some of the cons include high brokerage charges and account maintenance fees.
Trending Post: