ICICI Direct Demat Account: A 3-in-1 Demat Account in india

Demat Account is used to store the shares/securities in the digital form for the safety purpose. ICICI direct demat account dispenses investment services from ICICI Securities by offering a wide range of investment alternatives to the retail as well as the institutional clients. ICICI Securities is a subdivision of ICICI Group i.e. a leading financial services provider in India. The full-time broker is offering its investment and trading facilities for several years now.

ICICI DIRECT DEMAT ACCOUNT

The trading is allowed in various financial products like in Equities derivatives segment, IPO, Mutual Funds, Bond, Fixed Deposit and some other wealth products etc. Being a full-service broker it also provides advisory aid and online classes to help seek the knowledge of stock market.

Banks like ICICI Bank, SBI, Axis Bank, HDFC Bank etc provide stock broking facilities to facilitate trading. The brokerage firms linked to such banks allow trader to open 3 in 1 account in the form of Demat, Trading and Savings account. Demat account and bank account are linked together to make easier path for user to buy and sell shares/stocks to persuade online trading using the 3-in-1 account.

Such brokers generally have the heavy client base as 5 Lakh+ due to direct relation with banks and its customers. But, the plans and services are not necessarily satisfactory. So, one can not rely on such brokers just because of high client volume and due to PAN India presence. However, you may find number of financial products with such traditional brokers.

How to open an ICICI Direct Demat and Trading Account?

If you hold ICICI bank/Demat account, you can link it to the new ICICI Direct trading account. Opening a trading account with ICICI Direct is quite easy. To commence trading through ICICI Direct open account via any of the below given methods:

  • Call ICICI Direct and ask to open an account with them as per your interest.
  • Go to ICICIDirect.com and you will find the Account opening form there. Fill the “Open an Account” form there.

With the 2 given methods, you may soon get the call from ICICI Direct representatives within 1-2 days. They will guide you regarding account opening and document submission.

 

ICICI Direct Demat and Trading Account Opening Charges

Demat Account ChargesRs 100
Demat Account AMCRs. 500 ,(one year onwards)
Trading Account Opening FeesRs. 975
Trading Account AMCRs. 0

 

Brokerage plan of ICICI Direct Demat Account

The brokerage plans of ICICI Direct demat account in India are available in 2 forms:

I-Secure Plan/Flat brokerage Plan

It is a Flat Brokerage (in %) plan which exist irrespective of turnover value. This plan works fine for the traders looking for the flat fee and decent rates. Brokerage in cash 0.55%

GST will be charged as 18% on total value of brokerage.

I-Saver Plan/Variable brokerage plan

I-Saver brokerage plan works on the trading volume like high brokerage for low volume of trades and low brokerage for high volume trades. The plan best suits the high volume traders. And encourages trading up to an extent.

  • 0.03% to 0.05% Intraday Brokerage
  • 0.30% to 0.50% Delivery Brokerage

ICICI Direct Trading Platform

Desktop Trading Platform – Trade Racer

Trade Racer: Web Trading Platform is available

ICICIDirect Lite is a Mobile Trading Platform to allow trading on the go.

 

ICICI Direct Demat Account Plus points

  • The ICICI Direct demat account offers 3-in-1 account is an integrated account structure which provides ease at user level. It is one of the nice online trading advantage for the traders.
  • The full time broker provide demat and trading account that allows trading in both BSE and NSE.
  • With ICICI Direct one can manage one’s own demat and bank accounts via ICICIdirect.com. The money estimated from selling stocks is available in ICICI bank account quickly when ICICI Direct receive it.
  • Along with IPOs, Mutual Funds, and bonds, the General insurance option is also available with the ICICI Demat Account.

 

ICICI Direct Demat Account negative points

  • ICICI Direct demat account in India applies high brokerage rates that are not negotiable.
  • Rs 75 per month are being charged for the Trading Terminal (Trade Racer) by ICICI Direct. It happens if in the case of brokerage of less then Rs 750 each month.
  • ICICI Direct demat account does not allow commodity trading. With ICICI demat and trading account, one cannot trade at MCX or NCDEX.
  • After 20 free calls in the beginning month, broker charges Rs 25 per call for call & trade facility.

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