ICICIDirect Stock Trading

ICICIDirect (or ICICIDirect.com) is stock trading company of ICICI Bank. Along with stock trading and trading in derivatives in BSE and NSE, it also provides facility to invest in IPOs, Mutual Funds and Bonds. Trading is available in BSE and NSE.

Type of Account

1. Share Trading Account

   Share Trading Account by ICICIDirect is primarily for buying and selling of stocks in BSE and NSE.
   This account allows Cash Trading, Margin Trading, MarginPLUS Trading, Spot Trading, Buy Today Sell Tomorrow and Call and Trade on phone.
   ICICIDirect.com website is the primary trading platform for this trading account. They also provide installable application terminal based application for high volume trader.
   
   

2. Wise Investment Account

   Along with stock trading and IPO investing in BSE and NSE, Wise Investment account also provide options to invest in Mutual Funds and Bonds online.
   Online Mutual funds investment allows investor to invest on-line in around 19 Mutual Fund companies. ICICI Direct offers various options while investing in Mutual Funds like Purchase Mutual Fund, Redemption and switch between different schemes, Systematic Investment plans, Systematic withdrawal plan and transferring existing Mutual Funds in to electronic mode. This account also provides facility to invest in Government of India Bonds and ICICI Bank Tax Saving Bonds.
   ICICIDirect.com website is the primary tool to invest in Mutual Funds, IPOs, Bonds and stock trading.
   
   

3. Active Trader Account

   Active Trader account gives more personalized investment options to the investors. It allows investor to use online and offline stock trading. It also provides with independent market expertise and support through a dedicated Relationship Manager from ICICI.
   Active Trader also provides commodity trading.

Brokerage and fees :

1. Account opening fees : Rs 750/- (One time non-refundable)
2. Brokerage : ICICIDirect.com brokerage varies on volume of trade and inclusive of demat transaction charges, service taxes and courier charges for contract notes. It ranges from 0.1% to 0.15% for margin trades, 0.2% to 0.425% for squared off trades and 0.4% to 0.85% on delivery based trades.
   Check latest rates at: http://content.icicidirect.com/mailimages/feeschedule.htm

How to open account with ICICIDirect?

For Online Stock Trading with ICICI, investor needs to open 3 accounts...ICICI Bank Account, ICICI Direct Trading Account and ICICI Demat Account (DP Account).

Note: If you already have a bank account or demat account with ICICI, you could link it with new ICICIDirect trading account.

Opening trading account with ICICI is easy. You could use one of the following options to open account with ICICIDirect.

• Visit ICICIDirect.com and fill the "Open an Account" form.
• Call ICICI and tell them that you are interested in opening an account with them.

In both the cases ICICI representative contact you in a day or two and tell you about the procedure to open the account. They usually send somebody to your home to collect documents, signature and for demo if required.

Advantages of ICICIDirect

1. 3-in-1 account integrates your banking, broking and demat accounts. All accounts are from ICICI and very well integrated.
2. Investment online in IPOs, Mutual Funds, GOI Bonds, and Postal Savings Schemes all from one website. General Insurance is also available from ICICI Lombard.
3. Trading is available in both BSE and NSE.

Disadvantages of ICICIDirect

1. Getting access to ICICIDirect.com website during market session can be frustrating.
2. ICICIDirect brokerage is high and not negotiable.
3. Not all stocks are available under Margin Plus.

Useful links about ICICIDirect

1. Website: http://www.ICICIDirect.com
2. Product Demo: http://content.icicidirect.com/mailimages/indexpage.html
3. FAQs: http://content.icicidirect.com/indexfaq.asp