Icicidirect option trading brokerage
The credit of making online trading popular in India should definitely go to ICICIDirect. As a result, the process of generating contract notes has been automated and the same would be instantly available to its customers in a safe and secure manner through the website.
ICICIDirect offer two types of brokerage plans to it customers.
In I-Secure Plan you get a flat brokerage of fixed percentage on turnover. So of you are Investor or someone who rarely trade, this plan will be best suited for you.
Go for this plan if your quarterly turnover is less than 50Lacs. If you trade regularly and your quarterly turnover is more than 50Lacs, you can save lot on brokerage and this plan is for you.
ICICI charges minimum brokerage of Rs 35 per trade or 2. It is very crucial for you if you are a small investor or trader. Lets understand with the help of an example. Suppose you buy 3 shares of State Bank of India trading at Rs Your total traded value is Rs 3 X Rs You will end up paying Rs In your case you will be paying 9Paise!
Now imagine you do day trade with the above conditions. Since you sell your positions at the end of the day, you will be paying 2. We have not considered the other taxes yet!. If you are regular in market, you will understand why we are stressing much on this. This is the biggest disadvantage doing day trading with full service brokers. Our team has designed a calculator to accurately calculate the ICICI Direct brokerage charges.
Click here to access the Calculator.
ICICDirect offers two types of trading platforms. You can use the features such as Margin trading, BTST, IPO Investment, Mutual fund investing, Customer support. This account does not suit for some one who would like to do technical analysis for trading.
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Trade Racer is free of cost if your monthly brokerage is more than Rs, else you will be charged Rs75 for using Trade Racer. The biggest advantage will be 3-in-1 account. The Demat, trading and savings accounts are integrated and provide seamless transfer of funds across all the accounts.
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Few brokers expect you to send the screenshot of the fund transfer or the scanned copy of cheque through email to get it reflected in your name. All the funds will be in your name and if you sell any investments, the money will be credited to your account. If you are someone who feel secure when everything is under your control, and hence prefer peace of mind over saving on brokerage, we advice you to go with ICICIdirect. You can not expect this from a discount brokers.
ICICIdirect conducts online and class room kind of training classes. It will be helpful to you if you are new to market. But we advice you to stay away from ICICIdirect if you are concerned about the brokerage cost.
If you are a day trader as we already mentioned, you will be giving out huge chunk of your profit to ICICIdirect. Your account can turn red just because of the brokerage cost. So you are expected to open an SB account first.
This is the cost of having 3-in-1 account. If you are commodity trader, then ICICIdirect is not for you. Top 10 Stock Brokerage Houses of India. Indian Share Brokers Reviews.
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