ICICI Direct Demat Account : ICICI Direct is ranked fifth among the 266 SEBI registered stockbrokers as of March 31, 2023, according to our study report on the top 20 stockbrokers in India.

By March 2023, ICICI Direct had 23,33,088 active clients and was a full-service stock broker.

You may invest in and trade in stocks, derivatives, mutual funds, initial public offerings, ETFs, and bonds with ICICI Direct. At ICICI Direct, you might also acquire research, Robo advice services, or stock investing suggestions.

ICICI Demat Account Opening:

It is easy to open an ICICI Demat Account. There are certain fundamental phases in it. There are three main ways to open it, which are covered below.

• You can complete out the account opening form online and deliver it to an ICICI branch that provides demat services together with the necessary copies of the needed papers.
• By going to any ICICI demat account service provider, you may open a demat account.
• One of the easiest and most hassle-free methods to register an ICICI Demat account is online.Some papers, such an address proof, a PAN card, and a passport-size photo, must be scanned.

Additionally, a minimum amount in the ICICI Savings Account must be kept in order to retain this 3-to-1 account.

You may read this in-depth examination of the documentation needed for a demat account.

• A 3-in-1 account is offered by ICICI which is discussed below. The 3-in-account is offered jointly by ICICI Securities Limited and includes:
• ICICI Bank Account
• ICICI Trading Account
• ICICI Demat Account

ICICI Direct Account Opening Charges

• ICICI Direct Account Opening Charges (Trading Acct): ₹975
• ICICI Direct AMC Charges (Trading Acct): ₹0
• ICICI Direct Account Opening Charges (Demat Acct): ₹0
• ICICI Direct AMC Charges (Demat Acct): ₹450

ICICI Demat Account Brokerage Charges

ICICI is providing this flat brokerage plan. Flat brokerage refers to the idea that the brokerage fees will remain the same whether the turnover is high or low. This plan is an option for investors who prefer a flat or set brokerage fee for all trades.

1.ICICI direct Neo:

A new, zero-brokerage plan called “ICICIdirect Neo” was recently introduced by ICICI. The unique trading plan ICICI Direct Neo allows infinite trading with no commission on all futures trades and flat order fees of Rs. 20 for margin and option trades.

consumers of ICICIdirect Neo will also benefit from a number of other unique features, such as Instant Liquidity, which allows consumers to get cash within 30 minutes of selling stocks in accordance with their chosen plan.

2.Saver Plan:

This strategy is built on the idea of the overall turnover you generate over the course of three months. There are several slabs, with prices ranging from 25 lakhs to 5 crore. Lower brokerage fees are paid to the broker (across segments) the higher the turnover.

3.Secure Plan:

Under this plan, there is no guarantee of turnover, and all of your trades are subject to a set brokerage fee. Before you start your account, it is advised to have a thorough conversation and negotiate the brokerage as it will be relevant to all of your future trades.

4.Prepaid Brokerage Plan:

An investor is required to pay the broker up front under this brokerage arrangement. Higher payments result in cheaper brokerage charges for your trades. Your transaction commissions will be automatically subtracted from this upfront sum. Upon depletion of the original deposit, you must reload again.

Every one of these plans has various prerequisites, and you may choose one based on your preferences.

ICICI Direct Trading Platforms

ICICI Direct, one of the best full-service brokers in India, enables its investors to utilise technology to the fullest extent possible for a level of comfort in stock trading that is unmatched. Let’s look at the main trading platforms that ICICI Direct provides.

1.ICICI Direct Trade Racer:

Trade Racer is a terminal-based trading software that is available as an executable file. It requires downloading and installation on a computer. It offers full-fledged stock trading experience to users.

The main features of the trading application are:

• -Watch all prevailing scrips under one screen or interface
• -With Live scanner feature, clients can quickly identify stocks that are trending high or low
• -With Heatmap feature, stocks high and low can be found straight with color coding without watching the data.
• -Option to modify color layouts and market charts

2.ICICI Direct Trade Racer Web

It essentially functions like Trade Racer on a web browser. Since practically any browser can access this trading platform, there is no need to download and install any software.
Its key attributes are as follows:

• Live and on-demand quotations
• enabling drag and drop widgets
• 5 maximum watchlists
• user notifications and alerts
• a number of watch lists with live quotations
• Check the current limit, do a CMP with the top five bids or offers, change allocation in a single window, and more.

3.ICICI Direct Mobile App

The trading applicable, as its name suggests, is designed to assist users in stock trading while on the go. Numerous features of the app include:

• Analysis of recent quotations, scrips, and market updates is possible.
• Monitoring portfolios and market activity
• Real-time market advice and research calls

There are a few issues with the app, though, including its infrequent updates and mediocre user experience. It indicates that the broker does not place a too strong emphasis on the mobile trading market.

How to Open Demat Account with ICICI Direct?

You must register 3 accounts in order to conduct online stock trading with ICICI Direct: an ICICI bank account, an ICICI Direct trading account, and an ICICI demat account (DP account).

Unquestionably, ICICI Direct is one of the best and most well-known full-service brokerage companies in the entire country that has thrived for well over two decades in a row.

Taking into account this information also enables us to conclude that you may join them as an investor or trader. If so, the following is all you will ever need to do:

• Under this area, there is a green button that says, “Open Demat Account.” Click on that button.
• On your computer’s screen, a new form will appear as a result.
• When the form appears, carefully read each line and paragraph before submitting it.
• After reading the full form, correctly fill it out with all the necessary information.
• You will need to upload a few documents after you have finished filling out the form in order to complete the KYC verification process.

• You will need an Aadhar Card, PAN Card, and a picture for this particular stage in order to validate your age, identity, and residence.
• After you complete the aforementioned stages, ICICI Direct’s authorised representatives will get in touch with you to handle the remaining verification requirements.
• As soon as you successfully complete all the processes outlined above and leave the login information in your email address, you may anticipate gaining full and hassle-free access to your new account with the organisation in a couple of hours.

Documents Required ICICI Direct Demat Account:

Here is a list of documents that are required to open an account with ICICI Direct:

• Proof of Identity (POI) (Driving license)
• Proof of Address (POA) (Passport)
• Proof of Income (For trading in derivatives such as F&O) (Copy of ITR Acknowledgement)
• Proof of Bank Account (Cancelled cheque)
• PAN Card
• 1 to 3 passport size photographs

Features ICICI Direct Demat Account

• enables trading of stocks, mutual funds, money, commodities, initial public offers (IPOs), and more
• Obtain market intelligence and research
• Get educational materials
• Invest in fractional shares on the worldwide market.
• Get a three-in-one account with a trading, a Demat, and a banking component.

Benefits of ICICI direct Demat Account

• A 3-in-1 account option is provided by ICICI Direct.
• Our financial advisor works with the full-service stockbroker to handle our account.
• E-ATM instant withdrawal.
• Free account opening and the first year of Demat’s AMC are also included.
• 45+ investment and insurance products, including: stocks, IPOs, mutual funds, insurance, etc.
• contemporary trading platforms
• Freely provide the ICICI Direct Breeze API service.
• Numerous trading and investing options are accessible.

How to Close Demat Account with ICICI Direct?

You must get the ICICI direct demat account closure form from the official website in order to shut an ICICI direct demat account. proceed as follows to deactivate the demat account:

• Click here to go there:Closure of ICICI Direct Account Form
• Take a printout of this form by downloading it.
• DP ID, ID, account holder’s name, and other details must now be filled in.
• Include the necessary papers with the form.
• Bring this document to your branch.

Additionally, you can go to the ICICI branch and request the account cancellation form by calling RM. Send the completed form to RM. After DP gets your account closure paperwork, the demat account must be terminated within 5-7 trading days.

Before terminating a demat account with ICICI Direct, keep the following in mind:

• If shares or other securities are present in the demat account, you must move them to another demat account. At DIS. DP, you may obtain a receipt for this service.
• The balance of the account shouldn’t be negative.
• All payments and settlements that are still owed must be completed.
• If you have a shared demat account, all members must agree to it.

FAQ – ICICI Direct Demat Account