ICICI Direct Demat Trading Account Review: App, Charges, Apply

ICICI Direct Demat Trading Account Details:

With years of experience, ICICI Direct is one of the top-rated financial brokers in the country right now. They have a wide range of products and services on top of the regular financial assets like equity, commodity, or currency. As per most of the experts, the brokerage fee is mostly reasonable and at par with the industry standard. They own an incredible research and development team, which is backed brilliantly by the efficient support team. That is why the company receives high customer ratings most time. We, therefore, dive deep in today and explore the company in detail to give you a thorough insight into whether or not you should join them.

About ICICI Direct

ICICI Direct is, first and foremost, a private limited company. The year of establishment is 1994. Since then, the company molded itself to be a full-service broker. The company MD & CEO, Mr. Vijay Chandok ensured the ship stays steady all these years. The company headquarters is in the financial capital of India – Mumbai, and it helped a lot gaining more than 20,00,000 customers all across the country. So, we will learn more about the incredible feats of the company next.

ICICI Direct Features

Now, as we have learned that the company is successful, it is time you should know some of the USP of ICICI Direct. Here is a list of some recognizable:

1. One of the first things that you will notice is the company owns one of the best banks in the country – ICICI Bank. So, it makes sense that they can offer a 3-in-1 account, which consists of a Savings account, a Demat account, and a Trading account.
2. In our country, the brokerage fee is the primary factor of a trader to choose a broking company. So, the fee structure is something that ensures a hefty profit margin every time a trade happens. We will of course discuss the full pricing later in this article.
3. ICICI Direct offers 6 different brokerage plans. This adds a ton of flexibility to the traders and can help to anticipate ROI.
4. There are no account opening charges which you need to pay. On top of that, both CDSL and NSDL are available as Depository participants.
5. You can enjoy Zero Brokerage for loss-making trades, Happy Trading Hours, and decent Referral offers while trading with ICICI Direct.

ICICI Direct Brokerage Charges and Fees

The following are the noteworthy fee structure of ICICI Direct:

You also need to bear a few more additional fees which are as follows:

ICICI Direct Demat Account Opening Charges 3-in-1

ICICI offers 3-in-1 accounts which consist of Savings, a Demat, and a Trading account. You do need all three accounts to initiate online trading. Meanwhile, you should take a look at the following table for every charge related to account opening:

Documents required to open an ICICI Direct Demat account?

Here are the documents that you must require to complete the KYC verification from ICICI Direct:

• A copy of your Aadhaar Card.
• A copy of your PAN Card.
• One scanned Passport-size Photograph.
• Proof of Address in the form of any Utility bill or Bank statement.

How to Open ICICI Direct Demat Account?

The following are the steps to open up a Demat account with ICICI Direct:

1. The first step is to visit the official site of ICICI Direct – https://www.icicidirect.com/. Then click on the button – “Open an Account.”
2. Then you should be routed to a page asking for your phone number. You must fill out the phone number with is associated with your Aadhaar Card.
3. Soon, you should receive a call from an ICICI Direct agent. He or she will ask you to submit your KYC documents which we have already discussed. There are no account opening fees.
4. Within 1-2 days, you should receive an email that contains all the login details of your Demat and Trading accounts.
5. Log in and start trading.

ICICI Direct Customer Care Details:

You can reach ICICI Direct Customer support in one of the following ways:

ICICI Direct Pros and Cons

• Let us discuss why you should join ICICI Direct:
  • With 226 Branches all across the country, they have ample experience to steady your trading ship.
  • The trading platforms are top-notch, to say the least, and are available on the most popular devices.
  • They offer a ton of variety when it comes to products and services. So, it gives you the flexibility to switch whenever you wish to.
  • One of their main USP has always been their research and advisory support.
  • They provide decent promotional offers and the brokerage fee is marginal.
• Now, let us talk about the cons of ICICI Direct:
  • Even though the brokerage is industry-standard, it is not negotiable.
  • Currency Trading is not available in their service list.
  • You must own a Savings account with ICICI bank to trade with ICICI Direct. They don’t allow Savings account of different banks.

More Demat Account Reviews: Demat Trading Accounts

The Conclusion

ICICI Direct is a formidable company backed by years of experience. Most of the service they provide is efficient, to put that in one word. So, if you are considering the company, you should give a try as there are no joining cost to pay either.