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ICICI Direct Brokerage Review for Options Trading

Published on Wednesday, April 4, 2018 | Modified on Wednesday, May 30, 2018

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ICICI Direct Brokerage Review for Options Trading

ICICI Direct Review - Pros & Cons

Pros Cons
3-in-1 account makes funds transfer from bank to your account and viceversa easy. High Brokerage
Light website for people trading from low bandwidth internet connectivity areas. Doesn't offer commodity trading
Call N Trade service Only 20 Call-N-Trade service calls are free
One of the biggest brands of the country Charges for Trading Terminal (Trade Racer) if your monthly brokerage is less than ₹750.
Presence across the country
Good platform for customer education

ICICI Direct Review - About the company

ICICI Direct is one of the popular full-service stockbroking companies in India. It is a retail trading and investment service arm of ICICI Securities which is a part of ICICI Group.

ICICI Direct offers trading and other services to over 26 lakh customers. It has over 200 ICICIdirect Stores in over 87 locations.

ICICI Direct offers a range of services to its customers. In addition to trading services in Equity, Derivatives, and Currency, the website offers services in Mutual Funds, ETF, Insurance, FD/Bonds, Loans, Tax and ELocker etc.

ICICI Direct Trading Platforms

1. ICICI Direct Trade Racer

Trade Racer is ICICI's own trading platform. The platform needs to be installed on your desktop or laptop for trading. It provides you with Live streaming quotes & Research Calls, integrated fund transfer system along with multiple watch list facility. Some of the major features of Trade Racer are:

  • Market Scanners like Trend Scanner and Live Scanner to identify real-time trading opportunities based on your preferred technical parameters
  • Market Tracker to give you a complete view of a particular scrip
  • Heat Map
  • Information on major American, European and Asian Market Indices
  • Personalization features like customisable layouts and color combinations

Trade Racer, is free for customers with monthly brokerage of more than ₹750. Other have to pay charges at ₹75 per month as subscription for Trade Racer.

2. ICICI Direct Web

You can also trade on the website icicidirect.com. You can log-in to the account and buy/sell desired options on the website. ICICI Direct offers a lighter version of the website for people trading from low bandwidth internet areas to trade faster. The website offers live streaming quotes, facility to place orders, portfolio monitoring, funds status etc.

3. ICICI Direct Mobile App

The mobile app is for Apple iPhone, Android, and Windows 8 devices. ICICI Direct Mobile allows you to trade, view live quotes, monitor your portfolio and market movements, gives access to research calls etc. Some of the key features of the app are:

  • Facility to place buy/sell orders
  • Track portfolio
  • Get live quotes
  • Get live research calls
  • Track Market movements

ICICI Options Brokerage Charges

ICICI Securities offers 4 types of brokerage plans to its customers:

  • I-Secure Plan is a flat fee brokerage Plan wherein brokerage is charged as percentage (%) of trade value.
  • I-Saver Plan is a Variable brokerage plan wherein brokerage is charged based on the trading volume i.e. high brokerage for low volume and vice versa.
  • Lifetime Prepaid Brokerage Plan is a discounted brokerage plan wherein you get discount rates and saves on your transaction cost. The prepaid brokerage would be valid for lifetime (15 years) or till your card exhausts. At the end, any un-utilised brokerage would be refunded to you.
  • Options 195 plan is for active intra-day traders.

ICICI Direct Brokerage For Equity Options

I - Saver Plan / I - Secure Plan

Total Eligible Lots per month Flat brokerage per contract lot (₹.) Flat Brokerage on Second leg of Intraday square off (₹ per lot)
Above 4800 Lots ₹35 ₹50
2401 - 4800 Lots ₹45 ₹50
1201 - 2400 Lots ₹55 ₹50
601 - 1200 Lots ₹65 ₹50
301 600 Lots ₹75 ₹50
51 - 300 Lots ₹85 ₹50
1 - 50 Lots ₹95 ₹50

In addition to above charges, customers also need to pay the below charges and taxes.

STT/CTT 0.05% on premium sell side
Exchange Transaction Charges 0.04410% on premium
GST 18% on (brokerage + transaction charges)
SEBI Charges ₹15 per crore
Stamp Duty As per the cutomer state

Life time Prepaid Brokerage Plan

Prepaid Plan (Rs) Total amount with GST (Rs) Options-(per lot)
10,000.0011,800.0070
25,000.0029,500.0055
50,000.0059,000.0045
75,000.0088,500.0035
100,000.00118,000.0025
200,000.00236,000.0020
300,000.00354,000.0015

Options 195 brokerage

No of Lots in a single order Brokerage Under 195 Plan for Intra-day trades Effective Brokerages per lot in Brokerage applicable as per I-Saver / I-Secure plan per Lot** in ₹
1959595
51953995
1019519.595
5079515.995
100154515.4595

** Under normal brokerage, brokerage on 2nd leg in case of Intra-day square off is 50.

ICICI Direct Brokerage For Currency Options

I - Saver Plan / I - Secure Plan

Total Eligible Lots per month Flat brokerage per contract lot Brokerage on Second leg of Intraday square off
Above 1500₹10₹10
601-1500₹15₹10
301-600₹20₹10
0-300₹25₹10

Life time Prepaid Brokerage Plan

Prepaid Plan (₹) Total amount with GST (₹) Currency Options-(Per lot)
10,000.0011,800.0020
25,000.0029,500.0016
50,000.0059,000.000
75,000.0088,500.000
100,000.00118,000.000
200,000.00236,000.000
300,000.00354,000.000

Note:

1. Second leg of intraday transactions in Equity Futures & Options would be levied only Rs 25 per lot or applicable options brokerage mentioned above (whichever is lower)

2. Second leg of intraday transactions in Currency Futures & Options would be levied only Rs 4 per lot (Applicable for 10,000 and 25,000 Prepaid plan only) For remaining plans, no brokerage will be charged.

Options 195 brokerage

No of Lots in a single order Brokerage Under 195 Plan for Intra-day trades Effective Brokerages per lot in Brokerage applicable as per I-Saver / I-Secure plan per Lot** in ₹
1959595
51953995
1019519.595
5079515.995
100154515.4595

** Under normal brokerage, brokerage on 2nd leg in case of Intra-day square off is 50.

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