ICICI Direct: Overview
ICICI Direct is a retail broking branch of the ICICI group: India’s top financial services provider. It is a full-time stockbroking company with a presence in 87 locations across the country with more 200 offices serving over 20 lakh customers every day. It is the 2nd largest stock broking company in India succeeded by Zerodha Ltd. This retail trading and investment platform offers a wide range of services to invest in stocks and other financial instruments.
ICICI Direct: Overview
The online share trading platform provides a complete investing and trading solution via products like equity trading, derivative trading, mutual funds, bonds, IPOs, NCD, loans, Fixed deposits , insurance etc all in one platform.From complete financial goal based planning to intraday trading in the stock market, ICICI direct is a one-stop solution.
The USP of this firm is the 3-in-1 account service which includes ICICI bank account, trading account and Demat account for convenient and hassle-free transactions. Being a subsidiary of a patented financial services bank, it has a leverage over other stock brokers. The clients can login into icicidirect.com or just visit a ICICI bank for any queries or issues with their trade. It enhances a sense of trust and reliability among people.
Trading in both BSE and NSE, it offers 3 types of plans to its customers.
1. I-Secure Plan: This offers a fixed brokerage irrespective of your turnover value.
2. ICICI Direct Prepaid Brokerage Plan: In this, you pay a one-time upfront amount at discounted prices. There are 6 Prepaid plans offered by ICICI direct with an upfron fee starting from Rs.10000 only.
3. ICICI Direct Prime plan: An eATM or Equity ATM facility offers same day credit to trading account when you sell stocks. There are 3 types of Prime Plans where the yearly fee ranges between Rs.900 to Rs.9500.
All the plans are valid for 365 days. However, there is a minimum brokerage charge in I-Secure Plan i.e Rs. 35 per trade or 2.5% of trade value whichever is lesser. Whereas for the ICICI Prepaid and Prime Plan a minimum brokerage of Rs. 25 per trade or 2.5% of trade value whichever is lesser.
ICICI Trading Tools and Platforms-
1. Browser based:
ICICIDirect.com website is one of the most visited investment portals in India. It is a HTML based platform which works on both windows and MAC. It offers insights on real time trading as well as a section for financial learning courses.
2. ICICI Trade Racer:
The broker offers Trade Racer, an installable trading terminal for regular traders. The desktop trading software is filled with a variety of tools for high-speed and volume trading. There are no installation charges for this terminal.
3. ICICI Direct Mobile Application:
ICICI offers a direct mobile app for both android and IOS user to trade and invest on-the-go. It offers all products and service along with real-time updates and portfolio notifications.
ICICI Direct: Account Opening Process
Let’s know how to Open an ICICI Direct Securities Ltd. Account?
You need to follow a small process for opening the ICICI Direct Securities Ltd. Account.
For trading with ICICI securities, you need to open 3 accounts i.e an ICICI bank account, trading account and Demat account. Users with am existing ICICI bank account can link the trading account with it. There are just 2 easy ways for opening an account.
-
Visit ICICI Direct.com and click on ‘open account’. Fill an application form and they will reach out to you.
-
Call ICICI toll free or visit a nearby ICICI bank branch. Tell them you want to open account and they will help you with the account opening process.
ICICI Direct: Account Opening Charges
| Charge Type | Amount |
|---|---|
| Trading Account Opening Charges | ₹975 (One-time) |
| Demat Account Opening Charges | ₹0 |
| Trading Account AMC | ₹0 |
| Demat Account AMC | ₹700 per year |
ICICI Direct: Commodity Trading
ICICI Direct is the best rated online investment and retail trading platform. Basically it is a trading extension and retail investment of ICICI Securities, which is a part of the ICICI group. ICICI Securities offers online trading platform services to more than 20 lakhs customers through ICICI Direct.
ICICI Direct (ICICIDirect.com) provides a vast range of investment products and services to corporate and retail clients and that gives them a competitive edge in the domain. They have a remarkable presence across 87 locations throughout India and more than 200 offices in various capacities and forms for its clients.
They offer a unique 3-in-1 account which allows the seamless trading experience to traders and investors. One can trade without facing the trouble of tracking settlement cycles, transfer instructions and preparing cheques. Trading becomes extremely simple and hassles free!
What is Commodity Trading?
Just like stocks and bonds, commodities are another class of assets. Commodities are an essential part of everyday life, whether they are related to food, metals and energy.
A commodity is exchangeable and alternate by nature and plays an important role in diversifying a portfolio. Except for actionable claims and money it can be categorized as every kind of movable good that can be bought and sold.
Commodities trading is essentially trading in futures of oil, gas, precious metals and base metals. These include natural gas, nickel, lead, aluminium, crude, zinc, copper, gold and silver.
What are the benefits offered by ICICI Direct in Commodity Trading?
As an online commodity trading facilitator ICICI Direct offered various benefits which are:
1.String legacy and vintage of ICICI.
2.Seamless transfer of funds.
3.Robust risk management features.
4.Focused advisory and research support.
5.Longer commodity trading hours till 11:30 PM / 11.55 PM
How Commodity Future & Option Trading Is Done Through ICICI Direct?
Launch of commodity derivatives trading on the ICICIDirect.com platform announced by ICICI Securities on August 28, 2020, in Mumbai. Due to this, nearly 50 lakh client base will be able to trade in commodities futures on the Multi Commodity Exchange of India Ltd. (MCX).
Now, existing 3-in-1 account holders or have opened a new trading account will be able to start trading in commodities by accepting online terms and conditions for commodity derivatives.
A popular feature ‘Good Till Cancelled’ (GTC) of ICICI Direct will be available for commodities trade, which makes it more convenient to investors.
Additionally, option trading is currently not offered in the commodity segment by ICICI Direct, investors will be able to trade only in commodity futures.
Investors are also allowed to place overnight orders in the commodity derivative segment, only limit orders are permitted and on the next trading day once the market opens such orders will be sent to exchanges.
What are ICICI Direct Commodity Brokerage?
ICICI Direct offers a convenient and simple way to trade in the commodity derivatives segment with an impressive brokerage structure of Rs. 20 per order and only Rs. 2 per lot.
ICICI Direct fulfil three needs of investors which are protection, investments and borrowings. They also provide commodity learning programs and FAQs that will help to become a successful commodity trader.
ICICI Direct: Currency Trading
ICICI Direct is an award-winning stockbroker, an extended wing of the ICICI group. It is one of the popular broking firms in India which provides a broad spectrum of investment to the institutional and retail customers.
Their website ICICIdirect.com is the most frequently visited investment portal in India which offers a comprehensive suite of investment products such as Online Equity Trading, Derivatives Trading, Mutual Fund & IPO, Home Loans, NCD, wealth products etc.
Furthermore, they offer three plans to its customers such as Secure Plan, ICICI Direct Prepaid Brokerage Plan and ICICI Direct Prime Plan.
What is Currency Trading?
The currency market is the largest financial market throughout the world and continues to grow annually. The major part of the world’s currency is traded through this immense, highly decentralized marketplace. Currency traders are also known as forex traders or foreign exchange traders.
It is a 24/7 trading market that is closed only from Friday evening to Sunday evening. There are three currency trading sessions including the United State, European and Asian session.
Currencies are traded in pairs in the currency future market and the transactions are quoted such as EUR/USD. In a currency pair, there are two distinct prices i.e the base currency and the other one is quotation currency.
Traders of forex use currency exchange rates to try to get profit from trading foreign currencies. As in relation to each other currencies rise or fall, traders try to predict these changes and sell or buy accordingly. Prices of the currency fluctuate based on the economic situation of the countries involved, trade & financial flows, risk & instability, among other factors.
How Currency Trading Is Done Through ICICI Direct?
1.ICICIdirect provides both future and option currency trading in NSE only.
2.Investors can trade in prominent currencies with ICICI Direct like Yen, Pound, US Dollar and EURO against Indian Rupee.
3.Due to settlement guarantees by regulated cleaning houses, there is no counterparty risk involved.
4.There are no STT and CTT charges.
5.Provide daily cash settlement facility in INR vis MTM (Mark to Market).
6.By just paying a % value investors can trade in the currency derivatives called the margin amount instead of the full traded value.
7.The currency leverage calculator provides 4x exposure for future and 1x for options.
What are ICICI Direct Currency Future and Option Brokerage?
Secure Plan Currency Brokerage Charges
Currency Future - 0.050% and Currency Futures(Intraday) ₹50
Currency Options - ₹25 per lot and Currency Options (Intraday) ₹10 per lot
Prepaid Plan Currency Brokerage Charges
Currency Futures - ₹0
Currency Options - ₹0
Prime Plan Currency Brokerage Charges
Currency Futures - ₹0
Currency Options - ₹0
As we all know that finding winning trading strategies in currency trading takes a lot of practice. Therefore, the iconic brand ICICI Direct offers financial learning virtual classrooms that will help to become a successful currency trader.