ICICI Direct is a full-service broker that offers a wide range of services to help investors make informed investment decisions but they charge heavily for their services.
In this article, I’ll cover everything from demat account charges to other fees you might encounter along the way. Let’s discuss the charges of the ICICI Direct demat account in detail.
Charges of ICICI Direct Demat Account
Account Opening Charges
To open an ICICI Direct account, you have to pay an account opening fee is Zero. ICICI Direct account includes a trading account, a demat account, and an integrated bank account.
Some plans like the ICICI Direct Prime plan or the I-Secure plan require a subscription fee.
Brokerage Charges
ICICI Direct’s regular plan brokerage charges are discussed below –
- For equity delivery, the brokerage charge is 0.55%.
- For equity intraday, the brokerage charge is 0.275%.
- For futures, the brokerage charge is 0.05%.
- For options, the brokerage charge is Rs. 95 per lot.
ICICI Direct also offers other benefits like a dedicated relationship manager and priority customer service.
However, ICICI Direct has recently launched a flat brokerage plan to compete with the market.
ICICI Direct Neo Plan
| Segment | Brokerage |
| Equity Intraday | Rs. 20 per order |
| Equity Futures | Rs. 0 per order |
| Equity Options | Rs. 20 per order |
| Currency F&O | Rs. 20 per order |
| Commodity F&O | Rs. 20 per order |
AMC Charges
ICICI Direct charges an annual maintenance fee of Rs. 700 for the demat account.
Delivery Charges
ICICI Direct charges delivery charges vary from plan to plan.
For example, in a regular plan, the equity delivery charges are 0.55% per order while in the neo plan the delivery charges are Rs 20 per order.
Intraday Charges
ICICI Direct intraday charges for equity intraday trades are 0.275% of the transaction value.
F&O Charges
For Futures, the charge is 0.05%, and for Options, it is Rs. 95 per lot.
Call and Trade Charges
ICICI Direct charges Rs. 25 per call for placing trades over the phone.
Mutual Funds Charges
If you are investing less than Rs.8 lakhs in mutual funds via ICICI Direct means paying a fee of Rs.100 per transaction for lump-sum purchases.
For SIP transactions, the charge is Rs.30 or 1.5% of the investment value (whichever is lower). Don’t forget the 10.30% service tax per transaction.
Charges for Canceled Orders
ICICI Direct charges Rs. 25 per canceled order.
Fund Transfer Charges
ICICI Direct charges Rs. 9 per transfer if you transfer funds to your trading account through NEFT or RTGS. However, if you transfer funds through IMPS, there is no charge.
Fund Withdrawal Charges
ICICI Direct charges Rs. 25 per fund withdrawal.
Charges for GTT orders
GTT (Good Till Triggered) orders are orders that remain open until a specific trigger point is reached. ICICI Direct equity delivery charges for GTT orders as per the brokerage plan.
Charges For BTST orders
BTST (Buy Today Sell Tomorrow) is a trading strategy where you buy a stock today and sell it tomorrow. ICICI Direct charges Rs. 25 per BTST order.
Auto-square Off Charges
If you don’t have enough funds in your account to hold the positions, ICICI Direct will automatically square off your positions. They charge Rs. 25 per Auto-square off order.
Pledge Charges
If you pledge your securities to get a loan, ICICI Direct charges 0.02% of the loan amount as pledge charges.
Unpledge Charges
ICICI Direct charges Rs. 25 per unpledge request if you want to unpledge your securities.
CMR Physical copy
ICICI Direct charges Rs. 50 for sending a physical copy of your Contract Note, Trade Confirmation, and Account Statement.
Off-market Charges
ICICI Direct charges Rs. 25 per off-market transaction.
API Subscription Charges
If you want to use the ICICI Direct API to build your trading software, they charge Rs. 1000 per month.
Penalty for Shortfall
If you don’t maintain the minimum balance in your account, ICICI Direct charges a penalty of Rs. 100 per day.
MTF Charges
Margin Trading Facility (MTF) is a service that allows you to buy shares by borrowing money from ICICI Direct. They charge 0.04% per day as MTF interest.
Government Taxes and Regulatory Charges
STT Charges
Securities Transaction Tax (STT) is a tax that is levied on securities transactions. ICICI Direct charges STT on all equity transactions. The charge is 0.1% of the transaction value on the sell side.
Transaction Charges
ICICI Direct charges transaction charges on all trades.
| Equity delivery trades | 0.03% of the transaction value, with a maximum of Rs. 30. |
| Equity intraday trades | 0.03% of the transaction value, with a maximum of Rs. 30. |
| For futures | 0.0021% of the transaction value, with a maximum of Rs. 500. |
| For options | Rs. 500 per crore of the transaction value. |
DP Charges
ICICI Direct charges a DP charge of Rs. 25 per transaction for dematerializing shares.
DP charges refer to the charges that are levied by the Depository Participant (DP) for the dematerialization of physical shares. ICICI Direct charges Rs. 25 for every debit transaction of shares from your demat account.
GST (Goods and Services Tax)
GST is levied by the government on the services provided by the broker. 18% GST needs to be paid on all the charges like brokerage fees, SEBI charges, and transaction fees.
ICICI Direct Prime Plan
ICICI Direct Prime Plan is a subscription-based plan available for professional traders with high trading volumes. The Prime plan comes with a yearly fee and offers lower brokerage rates compared to the standard plan.
Here are the details of the charges under the ICICI Direct Prime Plan:
- Account Opening Charges – Rs. 0
- Annual Maintenance Charges (AMC) – Rs. 900 (Waived off for the first year)
- Call and Trade Charges – Rs. 20 per executed order
- Mutual Funds Charges – Zero Subscription fees, but Rs. 100 as transaction charges
- DP Charges – Rs. 13.5 per debit transaction for ICICI Bank customers and Rs. 21.5 for non-ICICI Bank customers
Brokerage charges under the ICICI Direct Prime plan
| Prime Plan | Scheme validity | Delivery brokerage | Intraday/ Futures | Equity Options | Currency F&O | Commodity F&O |
| Rs. 299 | 1-year | 0.27% | 0.027% | Rs. 40 per lot | Rs. 20 per lot | Rs. 20 per lot |
| Rs. 999 | Lifetime | 0.22% | 0.022% | Rs. 35 per lot | Rs. 20 per lot | Rs. 20 per lot |
| Rs. 1,999 | Lifetime | 0.18% | 0.018% | Rs. 25 per lot | Rs. 20 per lot | Rs. 20 per lot |
| Rs. 2,999 | Lifetime | 0.15% | 0.015% | Rs. 20 per lot | Rs. 20 per lot | Rs. 20 per lot |
| Rs. 3,999 | Lifetime | 0.12% | 0.012% | Rs. 15 per lot | Rs. 20 per lot | Rs. 20 per lot |
| Rs. 4,999 | Lifetime | 0.10% | 0.010% | Rs. 10 per lot | Rs. 20 per lot | Rs. 20 per lot |
The Prime Plan also offers other benefits like free research reports, a dedicated relationship manager, and priority customer service.
I have also written other brokers’ charges in detail, which you can check below to get a better understanding.
- Zerodha Annual Charges
- Groww Annual Charges
- Paytm Demat Account Charges
- Upstox Annual Charges
- 5paisa AMC Charges
FAQs
Q1. How do I know how much I will be charged by ICICI Direct?
ICICI Direct provides a detailed breakdown of charges on its official website. You can also contact their customer support for any queries regarding charges.
Q2. Are there any hidden charges?
There could be some hidden charges as well so do check out your contract note on daily basis.
Q3. Does ICICI Direct charge for account opening?
Ans: Yes, ICICI Direct charges an account opening fee. The amount varies depending on the type of account you open.
Q4. Can I negotiate the charges with ICICI Direct?
No, the charges are fixed and non-negotiable.
Q5. What is the penalty for not maintaining the minimum balance in my ICICI Direct account?
You do not have to sustain a minimum balance.
Q6. What is the minimum brokerage charged by ICICI Direct?
The minimum brokerage charged by ICICI Direct is Rs 20 per order in the Neo plan.
Q7. What are the DP charges levied by ICICI Direct?
ICICI Direct charges a flat fee of Rs 25 per ISIN for debit transactions and Rs 5.5 per ISIN for credit transactions.
Q8. What are the fund transfer charges levied by ICICI Direct?
ICICI Direct does not levy any charges for fund transfers through NEFT, IMPS, or RTGS.
Q9. What are the STT charges levied by ICICI Direct?
The STT charges levied by ICICI Direct are as follows:
- Equity delivery: 0.1% on the buy-side
- Equity intraday: 0.025% on the sell-side
- Equity futures: 0.01% on the sell-side
- Equity options: 0.05% on the sell-side
- Currency futures: 0.01% on the sell-side
- Currency options: 0.05% on the sell-side
- Commodity futures: 0.01% on the sell-side
Q10. What are the ICICI Direct AMC charges for a demat account?
The AMC charges for an ICICI Direct demat account are Rs 700 per year.
Q11. What are the transaction charges levied by ICICI Direct for equity delivery trades?
The transaction charges levied by ICICI Direct for equity delivery trades are 0.00325% of the trade value or Rs 25, whichever is higher.
Q12. What are the charges for Auto-square off in ICICI Direct?
ICICI Direct charges a flat fee of Rs 50 per segment for auto-square-off trades.
Conclusion
If you are planning to use ICICI Direct’s services, it is important to understand the fees and charges associated with them. This will help you avoid any surprises and make informed decisions about your investments.
