ICICI Securities is a segment of the ICICI bank that deals with the investing activities of its customers. The official name of the segment is called ICICI Direct, a website and an application that compiles all investment-related information, updates, and overview. ICICI Direct is one of the largest retail stockbrokers in India and is a part of the ICICI Group. Over 50 lakh customers access and use online trading=g and investment facilities provided by them. Namely, the services include currency trading at BSE, NSE, MCX, equity, commodity, and so on. Added services of Fixed deposits, Bonds, NCD, wealth products, home loans, loans against securities, and Mutual Funds are also available.
What services does ICICI Securities offer?
- Creating multiple watchlists to list all potential investments of interest
- Investing in IPOs and Mutual Funds
- The option to make trading calls.
- One can track market movements easily and on a real-time basis.
- One can monitor their portfolio that is compiled of various securities
Advantages of ICICI Securities
- Using the VTC ( Valid Till Canceled) feature, consumers can place an order of either buy or sell or set limit orders which will remain valid for 45 days.
- It gives access to trading on both NSE and BSE platforms.
- The 3-in1 account compiles the customer’s Demat, banking and brokerage accounts. This forms a very well-integrated wholesome account and the features provided by them make them stand out. It sets them apart from other players in the market in the online trading facility category.
- The customer can manage their Demat account and bank accounts through the portal. The money gained on the sale of stocks is available in the bank account as soon as the ICICDrirect segment receives it.
- Low bandwidth sites are free from a sluggish internet connection or Trading from electronic devices.
Disadvantages of ICICI Securities
- ICICI Securities offers 20 free calls in a month, after which it charges Rs. 25 per call and trade.
- For traders who are involved in small trades, the minimum brokerage charge as per the standard I- Secure plan is Rs. 35 per trade which is very high.
- ICICI also charges a flat Rs. 0.05 per share brokerage on stocks quoting up to Rs. 10. This disables it from being a viable option to trade in penny stocks.
- The brokerage charged here is very high and non-negotiable. The only way to bring the brokerage down is by subscribing to ICICidirect Prime or prepaid brokerage plans.
To conclude, it can be said that ICICI Securitiesthrough ICICI Direct has made a strong presence in the market and caters to a diverse and wide clientele. The brokerage fees are very high compared to other platforms that offer similar services. It is advised that the services of ICICI Direct are profitable for regular high-volume traders to absorb the various brokerage charges and end up with a decent net profit at the end of the day. Should they manage to introduce new plans to cater to small volume investors, they will excel in becoming the biggest name in retail stock brokerage.
