ICICI Direct Review 2020

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.

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.

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

ICICI Direct review written by Andrew Blumer and Mark Hansen