ICICI Demat Account- 2022, 3-in-1 Account & icici direct lite
Demat Account is used to store the shares/securities in the digital form for safety purposes. ICICI Demat account dispenses investment services from ICICI Securities by offering a wide range of investment alternatives to retail as well as institutional clients. icicidirect lite 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.
Trading is allowed in various financial products like in the Equities derivatives segment, IPO, Mutual Funds, bonds, Fixed deposits, and some other wealth products, etc. Being a full-service broker it also provides advisory aid and online classes to help seek knowledge of the stock market.
Banks like ICICI Bank, SBI, Axis Bank, HDFC Bank, etc provide stockbroking facilities to facilitate trading. The brokerage firms linked to such banks allow traders to open a 3-in-1 account in the form of a Demat, Trading, and Savings account. Demat account and bank account are linked together to make an easier path for the user to buy and sell shares/stocks to persuade online trading using the 3-in-1 account.
Such brokers generally have a heavy client base of 5 Lakh+ due to direct relationships with banks and their 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 a number of financial products with such traditional brokers.
How to open an ICICI Demat and Trading Account?
If you hold an ICICI Demat account, you can link it to the new ICICI trading account. Opening a trading account with icicidirect lite is quite easy. To commence trading through ICICI Demat and trading 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 in the “Open an Account” form there.
Within 1-2 days, using the 2 suggested techniques, you can get a call from ICICI Direct personnel. They will advise you on creating an account and submitting the necessary paperwork.
ICICI Demat and Trading Account Opening Charges
|Demat Account Charges
|Demat Account AMC
|Rs. 500,(one year onwards)
|Trading Account Opening Fees
|Trading Account AMC
Brokerage plan of ICICI Demat Account
The brokerage plans of the ICICI Demat account in India are available in 2 forms:
I-Secure Plan/Flat brokerage Plan
It is a Flat Brokerage (in %) plan which exists irrespective of the turnover value. This plan works fine for traders looking for a flat fee and decent rates. Brokerage in cash 0.55%
GST will be charged as 18% on the 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 traders. 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 Demat Account provided the following 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 Demat Account Plus points
- The ICICI Demat account offers a 3-in-1 account is an integrated account structure that provides ease at the user level. It is one of the nice online trading advantages for traders.
- The full-time broker provides a 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 the ICICI bank account quickly when ICICI Direct receives it.
- Along with IPOs, Mutual Funds, and bonds, the General insurance option is also available with the ICICI Demat Account.
ICICI Demat Account negative points
- ICICI 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 a brokerage of less than Rs 750 each month.
- ICICI Demat account does not allow commodity trading. With ICICI Demat and trading accounts, one cannot trade at MCX or NCDEX.
- After 20 free calls in the beginning month, the broker charges Rs 25 per call for the call & trade facility.