ICICI direct Neo is an investment and retail trading service from ICICI Securities that is considered among top 10 stock brokers in India by many. The trading service offers a wide variety of investment options to both institutional and retail customers. The parent company, ICICI Securities, itself stands amongst the country’s best financial service providers offering banking as well as other necessary financial services to over 50 lakhs customers across the length and breadth of the country. We bring to you a detailed ICICI Direct Review.
ICICI Direct Neo
ICICI Direct Neo is the latest trade offering from the reputed house of ICICI Securities that’s basically a zero-brokerage plan designed specifically for small capital traders. The plan is aimed at making trading accessible and affordable. The plan levies zero brokerage on all Futures trade deals whereas charges Rs. 20 per order for options and margin trades.
ICICI Direct Neo also offers some best-in-class features including-
The plan offers traders instant liquidity where clients get cash returns within half an hour of stock selling as per their trade plan.
· The plan also provides traders with research support through ICICI Direct which extends its basic coverage to more than 300 companies.
· Besides this plan, the extends access to One-Click Portfolios that are a set of theme-based stocks clubbed together after extensive research and analysis.
· Traders can also access third-party and proprietary trading tools that help them properly access market conditions.
ICICI Direct Neo’s Lifetime Prepaid Brokerage Plan
The prepaid brokerage plan gives traders better and more discounted brokerage rates, that increase the trader’s profit. These plans come with a validity of 15 years which clearly means that the brokerage amount can be utilized for 15 years, once availed. Various prepaid plan details are-
Prepaid Plan Amount with GST %Cash Margin/Futures% Options/lot
10,000 11,800 0.25 0.025 35
25,000 29,500 0.22 0.022 30
50,000 59,000 0.18 0.018 25
1,00,000 1,18,000 0.15 0.015 20
3,00,000 3,54,000 0.09 0.009 10
Some other features of the app are-
· In both the buy and sell positions of the Intra-day Options & Futures segment uniform brokerage rates will be levied.
· This plan levies Rs.20 over GST for every debit transaction made through your Demat account.
· The plan also lets you trade in NCDs, Penny Stocks, and Bonds, this also deducts cash brokerage itself from your Prepaid Card.
ICICI Direct Prime Brokerage Plan
Various plans under ICICI Direct Prime brokerage plans are as follows-
Prime Plan Total Amount Scheme/Validity Cash% Margin% Options LPC(%/day)
900 1,062 365 0.25 0.025 35 0.035
4,500 5,310 365 0.18 0.018 25 0.031
9,500 11,210 365 0.15 0.015 20 0.024
Besides the access to the exclusive website and research content for all Prime traders, the plan also offers-
· Complimentary ‘Bullet’ plan availability that guarantees zero brokerage on intraday stop-loss orders for trades that’ve been squared off within 5 minutes.
· Specially reduced ‘interest’ on delayed payments, ’MTF’ carried forwards while trading Equity Margin Product.
· Bond transactions, NCDs, and penny stocks are levied lower brokerage than cash.
Besides these awesome features, there’s no account opening charge, with the AMC and planned charge being Rs.700 and Rs.299 respectively. The platform has absolutely free Call and Trade services.
FAQs
1. What is ICICI Direct?
ICICI Direct is a retail investment and trading service offered by ICICI Securities, offering both offline and online services to its clients.
2. What are the various charges levied by ICICI direct?
ICICI Direct levies account opening charges worth Rs.975, Rs. 700 as AMC chargeable per year, DP Charges of 0.04% on sell orders, and brokerage charges of 0.55% on delivery, besides the government-mandated charges.
3. Why should customers go for ICICI Direct?
Customers must blindly choose ICICI Direct because-
· Availability of 3-in-1 trading account for a fast and smooth trading experience.
· Offers phenomenal local support and exclusive personal relationship manager for grievance redressal.
· Offers a wide range of investment options under a single account.