In this guide, we will compare ICICIdirect vs Zerodha share brokers in India. This article will help you to make an informed decision about which stock broker is good for you.
Key Highlights of ICICIdirect Vs Zerodha
Type of Broker:
- ICICIdirect: Full-service broker
- Zerodha: Discount broker
Account:
- ICICIdirect: Offers 3-in-1 account (demat, trading, bank)
- Zerodha: Offers 2-in-1 account (demat, trading)
Brokerage Charges:
- ICICIdirect: Variable depending on plan, starts at 0.55% for equity delivery
- Zerodha: Flat Rs 20 per trade across segments
Investment Options:
- ICICIdirect: Wider range, including equity, derivatives, currency, IPOs, mutual funds, bonds/NCDs, debt, insurance
- Zerodha: Primarily equity, derivatives, currency, IPOs, mutual funds, commodities
Research & Support:
- ICICIdirect: Provides research reports, tips, and recommendations
- Zerodha: No free research, but offers basic market reports and news alerts
Pros:
- ICICIdirect: One-stop solution with 3-in-1 account, research support, wider range of options
- Zerodha: Lower brokerage costs, user-friendly platform, direct mutual fund investments
Cons:
- ICICIdirect: Higher brokerage costs for some plans, website performance issues
- Zerodha: Limited research support, no margin funding, higher call & trade charges
Overall:
- ICICIdirect: Suitable for investors seeking a full-service experience with research support and a wider range of options, willing to pay higher brokerage.
- Zerodha: Ideal for cost-conscious investors who prioritize low brokerage, user-friendly platform, and direct mutual fund investments.
In case you are in hurry and want a quick comparison of ICICIDirect vs Zerodha, here it is:
While comparing ICICIdirect vs Zerodha, ICICI Direct is a full-service broker that follows a percentage-based brokerage model, which can result in higher charges. It offers research reports and trade calls.
On the Other hand, Zerodha is a discount broker and known for its low-cost brokerage charges, offering a fixed flat fee of Rs. 20 per trade across segments, irrespective of the trade value. It doesn’t offer any research reports or tips.
ICICIDirect vs Zerodha Overview
About ICICI Direct
Incorporated in 2000, ICICIdirect is a Full Service Broker. It is a subsidiary of ICICI Bank. It offers trading at BSE and NSE. It has 154 branches across India. As a full-service stockbroker, ICICIdirect provides a comprehensive platform for investors to trade in various financial instruments, including stocks, derivatives, mutual funds, and more.
ICICI Direct trading account opening charges are Rs 0 (Free) and ICICI Direct Account AMC Charges are Rs 700 per annum (from 2nd year onwards) and Rs. 300 for ICICIdirect Neo customers.
About Zerodha
Incorporated in 2010, Zerodha is a Discount Broker. It offers trading at NSE, BSE, MCX and NCDEX. It has 22 branches across India. Zerodha offers a wide range of investment services. It provides trading and investment options in stocks, mutual funds, commodities, currency derivatives, bonds, and more.
The account opening charges for Zerodha are Rs 200, and Zerodha imposes an annual AMC (Annual Maintenance Charge) of Rs 300 for its Demat Account.
| Particulars | ICICI Direct | Zerodha |
| Founders | Ravi Kumar | Nithin Kamath |
| Year of Incorporation | 2000 | 2010 |
| Type of Broker | Full Service Broker | Discount Broker |
| Exchange Membership | NSE and BSE | NSE, BSE, MCX and NCDEX |
| Number of Branches | 154 | 22 |
| Headquarter | Mumbai, India | Bangalore, India |
What is Demat Account?
A Demat account is used for holding securities/shares in electronic form, and the securities are deposited through National Securities Depository Limited (NSDL) or Central Depository Services Limited (CDSL).
Comparing ICICIdirect vs Zerodha
ICICIdirect trading account opening charges is Rs 0 (Free), whereas Zerodha charges Online Rs 200 (Equity +Currency) and Rs 300 (Equity +Currency +Commodities) for account opening, whereas upstox Upstox account opening changes is Rs 0 (Free).
What is Demat AMC Charges?
When you open a Demat account with a Depository Participant (DP) or a stockbroker, you need to pay an annual fee for the maintenance of your Demat account. This fee is called as the Demat AMC charge.
Comparing ICICIdirect vs Zerodha
ICICIdirect Demat Account AMC Charges is AMC Charges is Rs 700 and Rs. 300 for ICICIdirect Neo customers (free for 1st year), whereas Zerodha Demat Account AMC charges is Rs. 300.
| Particulars | ICICIdirect | Zerodha |
| Trading Account Opening Charges | Rs 0 (Free) | Rs 200 |
| Trading Account AMC Charges | Rs 0 (Free) | Rs 0 (Free) |
| Demat Account Opening Charges | Rs 0 (Free) | Rs 0 |
| Demat Account AMC Charges | Rs 700 (free for 1st year) Rs. 300 for ICICIdirect Neo customers from first year onwards | Rs 300 |
ICICIdirect Vs Zerodha Brokerage Charges
Well, ICICI Direct offers four different brokerage rate plans:
- ICICI Direct Neo Plan
- ICICI i-Secure Plan
- ICICI Prepaid Brokerage Plan
- ICICI Direct Prime Plan
Brokerage Charges for ICICI Neo Plan
| Account Type | ICICIdirect ICICI Neo Plan | Zerodha |
| Equity Delivery | 0.55% | Rs 0 (Free) |
| Equity Intraday | 0.03% – 0.05% | Rs 20 per executed order or .03% whichever is lower |
| Equity Futures | 0.03% – 0.05% | Rs 20 per executed order or .03% whichever is lower |
| Equity Options | Rs.35 – Rs.95 per Lot | Rs 20 per executed order |
| Currency Futures | 0.03% – 0.05% | Rs 20 per executed order or .03% whichever is lower |
| Currency Options | Rs.10 – Rs.35 per Lot | Rs 20 per executed order |
| Commodity Futures | Rs 20 per order | Rs 20 per executed order or .03% whichever is lower |
| Commodity Options | Rs 20 per order | Rs 20 per executed order |
Brokerage Charges for ICICI i-Secure Plan
| Account Type | ICICIdirect – I-Secure Plan | Zerodha |
| Equity Delivery | 0.55% | Rs 0 (Free) |
| Equity Intraday | 0.275% | Rs 20 per executed order or .03% whichever is lower |
| Equity Futures | 0.05% | Rs 20 per executed order or .03% whichever is lower |
| Equity Options | Rs 95 per lot | Rs 20 per executed order |
| Currency Futures | Rs 20 per order | Rs 20 per executed order or .03% whichever is lower |
| Currency Options | Rs 20 per order | Rs 20 per executed order |
| Commodity Futures | Rs 20 per order | Rs 20 per executed order or .03% whichever is lower |
| Commodity Options | Rs 20 per order | Rs 20 per executed order |
ICICI Prepaid Plan Brokerage Charges
| Prepaid value | Delivery brokerage | Intraday/ Futures | Equity Options | Currency & Commodity F&O |
| Rs. 2,500 | 0.25% | 0.025% | Rs. 35 per lot | Rs. 20 per order |
| Rs. 5,000 | 0.22% | 0.022% | Rs. 30 per lot | Rs. 20 per order |
| Rs. 12,500 | 0.18% | 0.018% | Rs. 25 per lot | Rs. 20 per order |
| Rs. 25,000 | 0.15% | 0.015% | Rs. 20 per lot | Rs. 20 per order |
| Rs. 50,000 | 0.12% | 0.012% | Rs. 15 per lot | Rs. 20 per order |
| Rs. 1,00,000 | 0.07% | 0.007% | Rs. 7 per lot | Rs. 20 per order |
ICICI Direct Prime plan Brokerage Charges
| Prime Plan | Scheme validity | Delivery brokerage | Intraday/ Futures | Equity Options | Currency & Commodity F&O |
| Rs. 299 | 365 days | 0.27% | 0.027% | Rs. 40 per lot | Rs. 20 per lot |
| Rs. 999 | Lifetime | 0.22% | 0.022% | Rs. 35 per lot | Rs. 20 per lot |
| Rs. 1,999 | Lifetime | 0.18% | 0.018% | Rs. 25 per lot | Rs. 20 per lot |
| Rs. 2,999 | Lifetime | 0.15% | 0.015% | 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. 4,999 | Lifetime | 0.10% | 0.010% | Rs. 10 per lot | Rs. 20 per lot |
ICICIdirect Charges Vs Zerodha Other Charges
| Other Charges | ICICI Direct | Zerodha |
| Minimum Brokerage | Rs 35 per trade (I-Secure Plan) | 0.03% in Intraday and Future & Options (F&O) |
| Other Charges | Margin Trading Interest: 0.025% Per day | Physical contact notes: Rs 20, Trade SMS Alerts: Rs 1 per SMS |
| Call & Trade Charges | Rs 50 per trade | Rs 50 per executed order |
ICICIdirect Vs Zerodha Transaction Charges
| Account Type | ICICIdirect | Zerodha |
| Equity Delivery | NSE Rs 345 per Cr (0.00345%) | BSE Rs 300 per Cr (0.003%) (each side) | NSE Rs 325 per Cr (0.00325%) | BSE Rs 375 per Cr (0.00375%) (each side) |
| Equity Intraday | NSE Rs 345 per Cr (0.00345%) | BSE Rs 300 per Cr (0.003%) (each side) | NSE Rs 325 per Cr (0.00325%) | BSE Rs 375 per Cr (0.00375%) (sell side) |
| Equity Futures | NSE Rs 200 per Cr (0.002%) | NSE Rs 190 per Cr (0.0019%) |
| Equity Options | NSE Rs 5300 per Cr (0.053%) (on premium) | NSE Rs 6250 per Cr (0.0625%) (on premium) |
| Currency Futures | NSE Rs 90 per Cr (0.0009%) | BSE Rs 22 per Cr (0.00022%) | NSE Rs 90 per Cr (0.0009%) | BSE Rs 25 per Cr (0.00025%) |
| Currency Options | NSE Rs 3500 per Cr (0.035%) | BSE Rs 100 per Cr (0.001%) (on premium) | NSE Rs 3500 per Cr (0.035%) | BSE Rs 100 per Cr (0.001%) (on premium) |
| Commodity | Group A – Rs 260 per Cr (0.0026%) | Group A – Rs 260 per Cr (0.0026%) |
ICICIdirect Vs Zerodha Leverage (Margin)/ /Equity Exposure
| Account Type | ICICIdirect | Zerodha |
| Equity Delivery | 100% of trade value (1x leverage) | 100% of trade value (1x leverage) |
| Equity Intraday | Up to 20% of trade value (5x leverage) | Up to 20% of trade value (5x leverage) |
| F&O (Eq, Curr, Comm) | 100% of NRML margin (Span + Exposure) (1x leverage) | 100% of NRML margin (Span + Exposure) (1x leverage) |
Compare ICICIdirect vs Zerodha Features
| Features | ICICIdirect | Zerodha |
| 3 in 1 Account | Yes | No |
| Charting | Yes | Yes |
| Automated Trading | No | Yes |
| SMS Alerts | No | No |
| Online Demo | Yes | Yes |
| Online Portfolio | Yes | No |
| Margin Trading Funding | Yes | No |
| Margin Against Shares (Equity Cash) | Yes | Yes |
| Margin Against Shares (Equity F&O) | Yes | Yes |
| Trading Platform | ICICIdirect.com (website), Trade Racer, ICICIDirect Mobile App | Kite Web, Kite Mobile for Android/iOS and Coin |
| Intraday Square-off Time | 3:30 PM | Equity Cash: 3:15 PM | Equity F&O : 3:25 PM | Currency: 4:45 PM | |
Customer Support – Compare ICICIDirect with Zerodha
| Customer Service Compare | ICICIDirect | Zerodha |
| 24/7 Customer Service | No | No |
| Email Support | Yes | Yes |
| Online Live Chat | No | No |
| Phone Support | Yes | Yes |
| Toll Free Number | No | No |
| Through Branches | Yes | Yes |
| Customer Care Number | 1860 123 1122 | “+ 91 80 4040 2020” |
| Account Opening Process | Online | Online/Paperless |
| Customer Support Email | helpdesk@icicidirect.com | support@zerodha.com |
| Knowledge Center/Education | https://www.icicidirect.com/knowledge-center | https://zerodha.com/varsity/ |
| Head Office Address | ICICI Centre, H.T. Parekh Marg, Churchgate, Mumbai – 400020 | Zerodha Headquater #153/154 4th Cross Dollars Colony, Opp. Clarence Public School, J.P Nagar 4th Phase, Bangalore – 560078 |
| Website | https://www.icicidirect.com | https://zerodha.com/ |
| Broker Enquiry | Request a Call Back | Request a Call Back |
ICICIdirect Vs Zerodha Investment Options
| ICICIdirect vs Zerodha | ICICIdirect | Zerodha |
| Stock / Equity | yes | Yes |
| Commodity | yes | Yes |
| Currency | yes | Yes |
| IPO | yes | Yes |
| Mutual Funds | yes | Yes |
| Bond / NCD | yes | No |
| Debt | yes | No |
| Other Investment Options | Equity, Derivatives, Currency, Mutual Funds, ETF, Insurance, FD/Bonds, Loans, Tax, ELocker, NPS | – |
ICICIdirect Vs Zerodha Research Report
| Research Reports of Icicidirect vs Zerodha | ICICIdirect | Zerodha |
| Daily Market Report | Yes | No |
| Free Tips | Yes | No |
| Quarterly Result Analysis | Yes | No |
| News Alerts | Yes | No |
ICICIdirect Vs Zerodha – Pros and Cons
| ICICIdirect Vs Zerodha | ICICIdirect | Zerodha |
| Pros | · Offers 3-in-1 account i.e., Demat + Trading + Bank · Option to choose among multiple brokerage plans for residents and NRI trading. · A reduced bandwidth website for trading from smartphones or even when there are slow internet connections. · Expert research calls and recommendations. · Wide range of investment options GTC (good till cancellation) and off-market hours order placement facilities are advantages · Loans on securities. | · Offers 3-in-1 account, i.e., Demat + Trading + Bank A/c. · 0 brokerage on delivery trades · Flat brokerage fee of Rs. 20 per trade across segments and exchanges. · Free equity delivery trades. No brokerage charges for Cash-N-Carry (CNC) orders. · Direct investment and Zero Brokerage in direct mutual funds on Coin. · Superfast and feature-rich web and app trading platform Kite. · Free UPI-based fund transfer process. · Advanced order types, such as bracket order (BO), cover order (CO), after-market order (AMO), and GTT are available. · NRI Trading account is available. Zero minimum deposit |
| Cons | · Highest brokerage even very ‘minimum brokerage’ is very high i.e., of Rs 35 per trade or 2.5% of the trade value whichever is lower. · Some claims poor website performance during peak hours of trading. · Call & trade cost extra Rs 50 per trade in Neo/Prime Plans. · The charge is high for call & trade (after the first 20 free calls in a month). · No access to free mutual fund investments. | · No stock tips, research, and recommendations. · High Call & Trade is charged an extra Rs 50 per order. · High Auto Square off is charged at an extra Rs 50 per order. · No margin funding. |
| Looking for an Enquiry? | Make an Enquiry | Make an Enquiry |
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Frequently Asked Questions
Which is best Zerodha or ICICI? ICICIdirect vs Zerodha
While comparing icicidirect vs zerodha, Zerodha is a discount broker and known for its low-cost brokerage charges, offering a fixed flat fee of Rs. 20 per trade. On the Other hand, ICICI Direct is a full-service broker that follows a percentage-based brokerage model, which can result in higher charges. If cost is a significant factor for you, Zerodha may be a better option.
What are the disadvantages of ICICI Direct?
1. High account maintenance charges
2. Higher Brokerage Charges due to percentage-based brokerage model
3. Occasional technical glitches, slower response times, or limited customization options.
What is the difference between Zerodha and ICICI Direct?
1. ICICI Direct is a Full Service Broker, whereas Zerodha is a discount broker.
2. ICICI Direct provides research reports, investment recommendations, and market analysis, whereas Zerodha does not provide any such reports.
3. ICICI Direct offers a wider range of investment products, including stocks, derivatives, mutual funds, IPOs, and bonds. Zerodha primarily focuses on equities and derivatives trading, although they do offer mutual funds and bonds as well.
Is ICICI Direct safe for investment?
Yes, ICICIdirect is a safe and trusted stockbroker, primarily due to being a part of ICICI Bank, a reputed private sector bank in India. The online broker has huge customer base and no major violation reported to date.
Is ICICI Direct good for investment?
ICICI Direct is a good choice due to its Diverse Investment Options, Research and analysis reports, and established reputation due to ICICI Bank in the market.
Can I switch from ICICI to Zerodha?
Some brokers allow online transfer of shares. You can directly contact ICICI and ask how to switch to Zerodha. Otherwise, you can obtain the Delivery Instruction Slip (DIS), fill out the details of the Zerodha demat account, and submit it to them.
Why is ICICI Direct costly?
1. ICICI Direct is costly as the stock broker follows percentage-based brokerage model. For example: ICICIDirect charges 0.55% brokerage for equity delivery trades and 0.275% for intraday.
2. They offer personalized assistance, dedicated relationship managers, and research reports, which makes their services costly.
3. The brand value and reputation of ICICI Bank also make ICICIDirect a premium stock broker.
Can I earn money in ICICI Direct?
Yes, ICICIDirect offers referral programs to earn money. You can become their partner and get regular commissions.
