ICICI Direct Review 2020

ICICI Direct Rated 3/5
learn more Learn more about IC Markets. Losses can exceed deposits
ICICI Direct Screenshot

ICICI Direct Guide

ICICI Direct are an online broker founded in 1994 offering Equity Trading trading, Derivatives Trading trading, Mutual Fund & IPO trading, Fixed Deposit trading, Bond trading, NCD trading, and wealth products trading.

ICICI Direct are a global broker and have a head office in India.

When trading in the financial markets it can be very time consuming to find a broker that meets your needs.

Often you have to visit and read many broker websites all of which have different uses of language. The wording can be very confusing. In our review of ICICI Direct we break down the pros and cons. What ICICI Direct are able to offer, what countries ICICI Direct are available in. Who ICICI Direct are regulated by and more.

Having a reliable and capable broker is crucial to your success in online trading. Make sure that your broker is not fake or unreliable to avoid losing your investment. Ensure that your needs fit the profile of your broker as well, in order for you to have a good working profitable relationship.

Benefits of trading with ICICI Direct

Open ICICI Direct's Website

Your capital is at risk

At the bottom of this review you can also learn about some pretty good alternatives to ICICI Direct

With this review we hope to help you see if ICICI Direct is a good fit for you.

It is a common myth that online trading is confusing. It is only difficult for people who have not done the research. In this article, you will learn important information regarding ICICI Direct that will help you get off to a good start in the world of online trading.

ICICI Direct Review Table of Contents

ICICI Direct what you should know

ICICI Direct offer ways to trade: Equity Trading, Derivatives Trading, Mutual Fund & IPO, Fixed Deposit, Bond, NCD, wealth products.

With ICICI Direct you will need a minimum deposit of $0. You can sign up for a demo account to acquaint yourself with ICICI Direct platform.

ICICI Direct are able to accommodate various levels of traders whether you are experienced or a beginner.


Are ICICI Direct safe?

When choosing a broker like ICICI Direct the administrative body and regulatory status of the broker is very important. Brokers who conduct trades without supervision of a regulatory body do so at their own discretion. Any capital you invest is at risk.

Established in 1994, and in operation for 26 years ICICI Direct have a head office in India.

ICICI Direct is regulated. This means ICICI Direct are supervised by and is checked for conduct by the Securities and Exchange Board of India (SEBI), Member of the Bombay Stock Exchange regulatory bodies.

Regulated brokers will not manipulate market prices. When you send in a withdrawal request to ICICI Direct, this will be honored. If ICICI Direct violate any regulatory rules their regulated status could be stripped.

Any payments funded to ICICI Direct accounts by traders are held in a segregated bank account.

For added security ICICI Direct use tier-1 banks for this. Tier 1 is the official measure of a banks financial health and strength.

Try creating two accounts when you are working with ICICI Direct. One is the real account, with your real money and the other is your demo account. The demo account is your experimental account.

Open a demo account Visit ICICI Direct

Your capital is at risk

Full disclosure: We may receive a commission if you sign up with a broker using one of our links.

Broker icicidirect IC Markets eToro XTB
Year Established 1994 2007 2006 2002
Head Office India Australia Cyprus, UK Poland
Regulation Securities and Exchange Board of India (SEBI), Member of the Bombay Stock Exchange Australian Securities and Investment Commission (ASIC), Financial Services Authority (FSA), Cyprus Securities and Exchange Commission (CySEC) Financial Conduct Authority (FCA), Cyprus Securities and Exchange Commission (CySEC) Financial Conduct Authority (FCA), FCA number FRN 522157, Cyprus Securities and Exchange Commission (CySEC), CySEC Licence Number: 169/12, Comisión Nacional del Mercado de Valores, Komisja Nadzoru Finansowego
Used By 2,000,000+ 60,000+ 12,000,000+ 250,000+
Negative balance protection Yes Yes No Yes
Guaranteed Stop Loss No No No No
Learn More Visit ICICI Direct Visit IC Markets Visit eToro Visit XTB
Risk Warning Your capital is at risk Losses can exceed deposits 75% of retail investor accounts lose money when trading CFDs with this provider. 79% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

ICICI Direct Pros and Cons

What we like about ICICI Direct

  • Used by over 2,000,000 traders
  • Established in 1994
  • Regulated by Securities and Exchange Board of India (SEBI), Member of the Bombay Stock Exchange
  • Min. deposit from $0

What we don't like about ICICI Direct

ICICI Direct Financial Regulation and Supervision in more detail

We have checked and ICICI Direct is regulated and supervised by reputable organisations. You are able to check every ICICI Direct supervisory and regulatory body given below. Regulation gives you some recourse for those who have issues with ICICI Direct. Regulatory authorities protect the traders with things like reimbursement schemes that regain the client's investment in the event the broker becomes insolvent.

The brokerage firms have to comply with a variety of rules and criteria determined by the recognized international authority with the intention to provide secure trading and stay licensed. The whole notion of regulation is to protect ICICI Direct traders and provide a safe trading environment.

  • Securities and Exchange Board of India (SEBI)
  • Member of the Bombay Stock Exchange

ICICI Direct is governed and supervised by reputable financial regulatory bodies. Regulatory bodies monitor the behavior of the brokers and if things go wrong they will take necessary action. Before trading online with a broker such as ICICI Direct you should be sure they're legitimate online agent.

ICICI Direct Awards

ICICI Direct have won numerious industry awards over the 26 years they have been operating as a financial broker. We list the most notible awards and mentions for ICICI Direct below.

  • Best Domestic Equity House 2012
  • Best Investment Bank 2008 by Global Finance Magazine

ICICI Direct General Fees

  • ICICI Direct doesn't charge withdrawal fees
  • ICICI Direct doesn't charge inactivity fees
  • ICICI Direct doesn't charge deposit fees
Broker icicidirect IC Markets eToro XTB
Min Deposit 0 200 200 0
Withdrawal Fees No No Yes varies
Inactivity Fees No No Yes No
Deposit Fees No Varies No No
CFD Commission Fees No Yes No Yes

ICICI Direct Commissions

  • ICICI Direct doesn't charge commission on CFD instruments.

What can you trade with ICICI Direct?

Be aware that Different entities under ICICI Direct Brand offer different trading instruments due to regulatory restrictions. Trading instruments offered may differ based on the country of residence of the Client.

You can trade a wide variety of instruments with ICICI Direct over 5000 instruments infact.

If you are looking at trading currency pairs ICICI Direct offer over 0 currency pairs.

Compare ICICI Direct with IC Markets and eToro below.

Your capital is at risk

Broker icicidirect IC Markets eToro XTB
Instruments Available 5000 232 100 1,500
Platforms Web Trader, Tablet & Mobile apps MT4, MT5, Mirror Trader, ZuluTrade, Web Trader, cTrader, Mac Web Trader, Tablet & Mobile apps MT4, Mirror Trader, Web Trader, Tablet & Mobile apps
FX / Currencies Visit ICICI Direct Visit IC Markets Visit eToro Visit XTB
Forex pairs offered 0 65 50 50
Major forex pairs No Yes Yes Yes
Minor forex pairs No Yes Yes Yes
Exotic forex pairs No Yes Yes Yes
Cryptocurrencies Yes Yes Yes Yes
Commodity CFDs Visit ICICI Direct Visit IC Markets Visit eToro Visit XTB
Commodities Offered 14 19 0 21
Metals No Yes Yes Yes
Energies No Yes Yes Yes
Agricultural No Yes Yes Yes
Indiced & Stock CFDs Visit ICICI Direct Visit IC Markets Visit eToro Visit XTB
Stocks Offered 5000 100 957 1696
UK Shares No No Yes Yes
US Shares Yes Yes Yes Yes
German Shares No Yes Yes Yes
Japanese Shares No Yes Yes Yes

Trading on ICICI Direct web platforms and other applications

ICICI Direct offer a user-friendly custom trading platform, available as a browser based web application. If you would rather see a comparison of MT4 brokers, you can so here.

ICICI Direct also offer mobile apps, for Android and iOS making it easier to keep an eye on and execute your trades while you’re on the move.

See ICICI Direct's platforms

ICICI Direct Trading benefits :

  • Allows hedging
  • Offers STP
  • Low min deposit
  • Offers Negative Balance Protection

ICICI Direct Trading Accounts Offered :

  • STP account

Can I try ICICI Direct before I buy?

ICICI Direct offer a demo account so you can try before putting down funding payments. Open a practice account & learn to trade

ICICI Direct withdrawal and funding methods.

Please note that the list of payment methods below depend on the ICICI Direct Entity and the Clients Country of Residence.

ICICI Direct offer the below funding payment methods. learn more about ICICI Direct

  • Bank Transfer
Broker icicidirect IC Markets eToro XTB
Bank transfer Yes Yes Yes Yes
Credit Cards No Yes Yes Yes
Paypal No Yes Yes Yes
Skrill No Yes Yes Yes
Payoneer No Yes Yes
Neteller No Yes Yes Yes

How can I start trading with ICICI Direct?

When opening a trading account with ICICI Direct, you will need to sign up here. Once you have received your login details by email, submitted your identification documents for account validation, and made a deposit; the next step is to download the trading platform of your choice. You can find detailed guidance on ICICI Direct trading platforms here.

Performing trades with ICICI Direct

ICICI Direct allow you to execute a minimum of trade of varies. This may vary depending on the account you open. The maximum trade requirements vary depending on the trader and the instrument. As ICICI Direct offer STP execution, you can expect tighter spreads with more transparency over the price you‘re paying to execute your trades.

As with most brokers, margin requirements do vary depending on the instruments.

Limiting Your Risk When Trading with ICICI Direct Negative Balance Protection

We should say something about negative balance protection with ICICI Direct. When trading using leverage an adverse move could result in losing more than your trading account balance at ICICI Direct. Your ICICI Direct account could potentially become negative. We recommend you making use of negative balance protection. Using negative balance protection ensures your losses will always be limited to the current balance of the money in your account.

Education resources at ICICI Direct

To trade effectively with ICICI Direct, it's important to get a have a good understanding of the ICICI Direct trading tools and the markets.

ICICI Direct offer a good selection of educational resources. Spend some time reading up on how the markets and trading works, making active trades, active trading times, and managing risk.

Having an analytical approach may be a good way to approach trading with ICICI Direct.

Take time to look around the ICICI Direct platforms and train yourself to think more systematically and logically about the markets. It's a new skill-set for many, but it is what the market requires of you.

Customer Support at ICICI Direct

ICICI Direct support a wide range of languages including English, Deutsch, Nederlands, Espanol, Francais, Italiano, Polski, Srpski, Norsk, Svenska, Cesky, РУССКИЙ, Romana, Turkce, العربية, 中文

ICICI Direct have a D grade support rating because because sometimes the response was slow or our query wasnt answered. ICICI Direct less customer support features compared to other brokers like live chat, phone and email support. email support and supports a limited amount of Languages. Phone support supports a limited amount of Languages.

Livechat Support at ICICI Direct

ICICI Direct does not offer LiveChat Support.

Email Support at ICICI Direct

We sent several emails to ICICI Direct and answer times overall were excellent. The fastest response from ICICI Direct was 4 hours and the slowest response was 5 days. Sometimes there was no response. Support response times may vary for you with ICICI Direct, but this was our experience sending 10 emails at varying times.

The team resolved and answered our queries. Overall average email support from ICICI Direct.

Phone Support at ICICI Direct

We called ICICI Direct and the call was answered very quickly. The call was answered in less than 5-10 minutes.

The ICICI Direct phone support team were able to successfuly answer our questions and issues over the phone. We tested the multilingual ICICI Direct team by calling in varying languages. ICICI Direct made an effort to make sure our queries were answered.

Overall the phone support from ICICI Direct was okay.

See how ICICI Direct Support Compares Against Other Brokers

Broker icicidirect IC Markets eToro XTB
Support
  • Live chat
  • Phone support
  • Email support
  • Live chat
  • Phone support
  • Email support
  • Live chat
  • Phone support
  • Email support
  • Live chat
  • Phone support
  • Email support
Languages English, Deutsch, Nederlands, Espanol, Francais, Italiano, Polski, Srpski, Norsk, Svenska, Cesky, РУССКИЙ, Romana, Turkce, العربية, 中文 English, Japanese, Chinese, Polish, Afrikans, Danish, Dutch, German and more English, German, Spanish, French, and Italian English, Spanish, Czech, Chinese, German, French, Italian, Polish, Portuguese, Romanian, Slovenian, and Turkish
Learn More Visit ICICI Direct Visit IC Markets Visit eToro Visit XTB
Risk Warning Your capital is at risk Losses can exceed deposits 75% of retail investor accounts lose money when trading CFDs with this provider. 79% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

What you will need to open an account with ICICI Direct

As ICICI Direct is regulated by Securities and Exchange Board of India (SEBI), Member of the Bombay Stock Exchange, every new client must pass a few basic compliance checks to ensure that you understand the risks of trading and are allowed to trade. When you open an account, you'll likely be asked for the following, so it's good to have these handy:

Be aware Please kindly note that the expiration date of Proof of address document for different entities under ICICI Direct Brand may be different.

  • A scanned colour copy of your passport, driving license or national ID
  • A utility bill or bank statement from the past three months showing your address

You'll also need to answer a few basic compliance questions to confirm how much trading experience you have, so it's best to put aside at least 3 minutes or so to complete the account opening process.

While you might be able to explore ICICI Direct's platform straight away, it's important to note that you won't be able to make any trades until you pass compliance, which can take up to several days, depending on your situation.

To start the process of opening an account with ICICI Direct you can visit their website here.

CFDs are leveraged products and can result in the loss of your capital. All trading involves risk. Only risk capital you're prepared to lose. Past performance does not guarantee future results.
This post is for educational purposes and should not be considered as investment advice. All information collected from https://www.icicidirect.com/ on 12th August 2018.

Watch this ICICI Direct Informational Video

Is ICICI Direct A Good Broker?

We spent over 3 months examining ICICI Direct in depth. Although we found some very useful aspects of the ICICI Direct platform that would be useful to some traders. Overall our feeling is that you would be better served with an alternative ICICI Direct broker.

  • ICICI Direct have a good track record of offering Equity Trading, Derivatives Trading, Mutual Fund & IPO, Fixed Deposit, Bond, NCD, wealth products.
  • ICICI Direct has a history of over 26 years.
  • ICICI Direct has a reasonable sized customer support of at least 10.
  • ICICI Direct are regulated by Securities and Exchange Board of India (SEBI), Member of the Bombay Stock Exchange. This means ICICI Direct fall under regulation from a jurisdiction that can hold a broker responsible for its misgivings; or at best play an arbitration role in case of bigger disputes.
  • ICICI Direct have regulation from a Tier 1 reputable country.
  • ICICI Direct has the ability to get deposits and withdrawals processed within 2 to 3 days. This is important when withdrawing funds.
  • ICICI Direct have an international presence in multiple countries. This includes local ICICI Direct seminars and training.
  • ICICI Direct are able to hire people from various locations in the world who can better communicate in your local language.

ICICI Direct Risk Disclaimer

Your capital is at risk

ICICI Direct not quite right?

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Related ICICI Direct Comparisons

If you would like to see how ICICI Direct stands up against other brokers you can read some of our ICICI Direct comparisons below. We compare side by side some of our top rated ICICI Direct versus comparisons. Read some indepth ICICI Direct VS pages below.

ICICI DIRECT Frequently Asked Questions

Can I try ICICI Direct before I buy?

ICICI Direct do not offer a demo account so it looks like you will have to sign up for at least a trial period. Learn more here

What funding methods do ICICI Direct accept?

Please note that the list of payment methods below depend on the ICICI Direct Entity and the Clients Country of Residence.

ICICI Direct offer the following funding payment methods Bank Transfers, Wire Transfer, among other payment methods.
Learn more here

Your capital is at risk

Is ICICI Direct safe?

ICICI Direct are considered safe as they are regulated by and checked for conduct by the Securities and Exchange Board of India (SEBI), Member of the Bombay Stock Exchange. Any payments funded to ICICI Direct accounts by traders are held in a segregated bank account. For added security ICICI Direct use tier-1 banks for this. Tier 1 is the official measure of a banks financial health and strength.

Is ICICI Direct trading good?

ICICI Direct is considered good and reputable to trade with. ICICI DirectICICI Direct is used by over ICICI Direct active traders. ICICI Direct offers Equity Trading trading, Derivatives Trading trading, Mutual Fund & IPO trading, Fixed Deposit trading, Bond trading, NCD trading, and wealth products trading. Minimum deposit with ICICI Direct is 0.

Is ICICI Direct trading Legit?

ICICI Direct was founded in India in 1994. ICICI Direct has been facilitating trade on the financial markets for over 26 years. ICICI Direct offers clients Equity Trading trading, Derivatives Trading trading, Mutual Fund & IPO trading, Fixed Deposit trading, Bond trading, NCD trading, and wealth products trading. All funds deposited to ICICI Direct are held in segregated tier 1 bank accounts for security. ICICI Direct is regulated by Securities and Exchange Board of India (SEBI), Member of the Bombay Stock Exchange so can be considered legit.

Is ICICI Direct a good broker?

ICICI Direct is overseen by the top tier financial regulators Securities and Exchange Board of India (SEBI), Member of the Bombay Stock Exchange so can be considered a good broker. ICICI Direct allows Equity Trading trading, Derivatives Trading trading, Mutual Fund & IPO trading, Fixed Deposit trading, Bond trading, NCD trading, and wealth products trading.

Is ICICI Direct trustworthy broker?

ICICI Direct can be considered trustworthy. All money funded to ICICI Direct is placed into a segregated tier 1 bank account. this means your money in not held by ICICI Direct directly but a tier 1 bank. The broker has no direct access to your funds so cannot misappropriate your money. Also ICICI Direct is regulated by Securities and Exchange Board of India (SEBI), Member of the Bombay Stock Exchange.

What is the minimum deposit for ICICI Direct?

The minimum deposit to trade with ICICI Direct is 0.

How long do ICICI Direct withdrawals take?

Withdrawing money from ICICI Direct processing time varies but averages 2-5 days.

Is ICICI Direct regulated?

ICICI Direct is regulated by Securities and Exchange Board of India (SEBI), Member of the Bombay Stock Exchange.

Is ICICI Direct a market maker?

ICICI Direct is a not a market maker. A market maker speeds up trading as a market maker will purchase your stocks and commodities even is a buyer is not lined up.

How can I start trading with ICICI Direct?

When opening a trading account with ICICI Direct, you will need to sign up here. Once you have received your login details by email, submitted your identification documents for account validation, and made a deposit; the next step is to download the trading platform of your choice. You can find detailed guidance on ICICI Direct trading platforms here.

Is my money safe with ICICI Direct?

ICICI Direct is regulated by Securities and Exchange Board of India (SEBI), Member of the Bombay Stock Exchange. One of the most important criteria for traders when choosing a broker like ICICI Direct is the regulatory body and regulatory status of the broker. Brokers who conduct business without regulation do so at their own discretion and pose a direct risk to the security of their clients money.

Regulated brokers will not manipulate market prices. When you send in a withdrawal request to ICICI Direct, this will be honored. If they violate any regulatory rules their regulated status can be stripped.

Is ICICI Direct a con?

ICICI Direct is regulated and well established having been in business for over 26 years. ICICI Direct is definitely not a con.

Can you make money with ICICI Direct?

Although traders have had great success with ICICI Direct. Trading on the financial markets with ICICI Direct is not a get rich scheme. If you educate yourself, practise with a demo account and carefully plan your trading your chance of success will greatly increase. Never trade with money you cannot afford to lose. Your capital is at risk.

Does ICICI Direct have fees?

ICICI Direct doesn't charge withdrawal fees. ICICI Direct doesn't charge inactivity fees. ICICI Direct doesn't charge deposit fees.

When was ICICI Direct founded?

ICICI Direct was founded in 1994.

How many people use ICICI Direct?

ICICI Direct is used by over 2000000 registered traders.

What is ICICI Direct Headquarters country?

ICICI Direct has its head quarters office in India.

Does ICICI Direct offer negative balance protection?

ICICI Direct offers negative balance protection. With Negative balance protection means traders cannot lose more money than they have deposited.

Does ICICI Direct offer guaranteed stop loss?

ICICI Direct does not offer guaranteed stop loss. With guaranteed stop loss protection risk is managed. Traders are guarenteed to close your trade at your specified price. Stop Loss orders are guaranteed only during market hours and under normal trading conditions.

Does ICICI Direct allow scalping?

ICICI Direct does not offer scalping.

Does ICICI Direct allow hedging?

ICICI Direct offers hedging.

Does ICICI Direct offer CFD trading?

ICICI Direct does not offer CFD trading.

Does ICICI Direct offer STP?

ICICI Direct offers STP trading.

How many people use ICICI Direct?

ICICI Direct is used by over 2000000 traders.

Is ICICI Direct an ECN broker?

ICICI Direct does not offer ECN trading.

Does ICICI Direct offer a demo account?

ICICI Direct does not offer demo account.

Does ICICI Direct offer an Islamic account?

ICICI Direct does not offer Islamic accounts.

What are the funding methods for ICICI Direct?

ICICI Direct accept the following funding methods : Bank Transfer.

ICICI Direct review written by Andrew Blumer and Mark Hansen

We hope you found our review of the ICICI Direct brokerage firm useful.

This article was written by our financial editor Mark Hansen and Andrew Blumer.

Mark was previously of the Kiel Insitute and has worked with financial organisations across Europe, Australia, South East Asia, South Africa and the Middle East. Mark has over 15 years experience in financial analysis, forecasting, financial modeling idenifying new market opportunities in Stocks, CFD's, Forex and Commodities.

Andrew has a well-established career in fintech and came up with comparebrokers.co to make trading on financial markets more transparent and accessible.

Whether you want to trade Forex, Stocks, Commodities or Indices we will help you find the best online broker for you from 400+ brokers for clients based in the UK, Europe, Asia, South Africa and Australia.

ICICI Direct review written by Mark Hansen of Comparebrokers.co