Top Stock Advisory
Zerodha vs. ICICI Direct
All stockbrokers charge you a fee for carrying out trading transactions. They charge you different fees for different asset classes. So, to maximize your returns and best trading experience, you need to choose the best stock broker.
Among the best stockbrokers in India, two top names are Zerodha and ICICI Direct. Please find a thorough comparison study for both the stock brokers, and find the table below for the comparison of Zerodha and ICICI Direct.
Overview
Zerodha is private company and ICICI Direct is public company. Zerodha operates as a discount broker, while ICICI Direct functions as a full service broker. Nithin Kamath co-founded Zerodha in 2010. And ICICI Direct was founded in the year 1994 by M K Sharma. Zerodha's headquarters are in Bangalore, India and ICICI Direct's headquarters are in Mumbai, India.
Zerodha operates as a discount broker, while ICICI Direct functions as a full service broker. Zerodha is registered in NSE, BSE, MCX and NCDEX, while ICICI Direct is registered in BSE, NSE. The total branches of Zerodha are 22 and the ICICI Direct branches are 154.
| Overview | Zerodha | ICICI Direct |
|---|---|---|
| Broker Type | Discount Broker | Full Service Broker |
| Type of company | Private | Public |
| Headquarter | Bangalore, India | Mumbai, India |
| Founders | Nithin Kamath | M K Sharma |
| Foundation Year | 2010 | 1994 |
| Supported Exchanges | NSE, BSE, MCX and NCDEX | BSE, NSE |
| Total branches | 22 | 154 |
Zerodha and ICICI Direct Trading Account Opening and Demat Charges
A dematerialization account, also known as a Demat account keeps the securities in an electronic form that are deposited with National Securities Depository Limited (NSDL) or Central Depository Services Limited (CDSL).
Account opening fees for various brokers range from 0 to Rs.200, with Zerodha charging Rs.300 and ICICI Direct charging Zero.
When you open a Demat account, you must pay specific fees such as account maintenance fees, broker commissions, GST, and STT. When you open a Demat account, you must pay specific fees such as account maintenance charges, broker commissions, GST, and STT. So, account maintenance charges (AMC) for the Zerodha Demat account is Rs.300 per Annum and for the ICICI Direct Demat account is Rs.500 per Annum. The Trading AMC for Zerodha and ICICI Direct is free. And the margin money for both brokers is also zero.
As we know that NSDL and CDSL are the two depositories in India registered by Indian Government which holds various securities in electronic form like stocks, bonds, etc. So, the depository for both Zerodha and ICICI Direct is CDSL.
| Account Opening and Demat Charges | Zerodha | ICICI Direct |
|---|---|---|
| Trading Account Opening Charges | Rs.300 | Zero |
| Demat AMC (Annual Maintenance Charges) | Rs.300 per Annum | Rs.500 per Annum |
| Trading AMC (Annual Maintenance Charges) | Free | Rs.975 per Annum |
| Margin Money | Zero | Minimum Rs.20,000 |
| Offline to Online Charges | Not applicable | Not applicable |
| Depository | Free | NSDL & CDSL |
Zerodha and ICICI Direct Equity Brokerage Charges
There are more charges that a broker charges for equity transactions.
Equity delivery charges: This means holding the stocks for a certain period of time and selling it when you make a profit. Different brokers charge different rates on Equity Delivery. The Equity Delivery charges for Zerodha is Rs.20 Per Order, while ICICI Direct charges you 0.55%.
Equity Intraday: This means when you buy and sell stocks on the same day. So, the equity intraday brokerage charges for Zerodha is Rs.20 Per Order and for ICICI Direct also, it is 0.03% – 0.05%.
Equity Futures: Equity futures refers to the purchase and sale of shares at a fixed price on a future date. Zerodha charge Rs.20 Per Order and ICICI Direct charge 0.03% – 0.05% for equity futures.
Equity Options: These are contracts that allow an investor to buy or sell equities at a predetermined or strike price, (1 contract=100 shares). For equity options, Zerodha charges Rs.20 Per Order, and ICICI Direct charges Rs.35 – Rs.95 per Lot.
| Equity Brokerage Charges | Zerodha | ICICI Direct |
|---|---|---|
| Equity Delivery Brokerage | Rs.20 Per Order | 0.55% |
| Equity Intraday Brokerage | Rs.20 Per Order | 0.03% – 0.05% |
| Equity Futures Brokerage | Rs.20 Per Order | 0.03% – 0.05% |
| Equity Options Brokerage | Rs.20 Per Order | Rs.35 – Rs.95 per Lot |
Zerodha and ICICI Direct Currency Brokerage Charges
Currency trading is also known as forex trading, which is used to buy and sell currency pairs. Most brokers offer this trading service.
Currency Future: It is also known as Foreign exchange futures. It is a type of contract where buying and selling of currencies is done on a future date at a fixed price. The Currency Futures Brokerage for Zerodha is Rs.20 Per Order and for ICICI Direct is 0.03% – 0.05%.
Currency Options: A currency option, like an equity option, is a contract that allows a buyer the right (but not the responsibility) to purchase or sell a specified currency at a fixed exchange rate on or before a particular date. Zerodha charges Rs.20 Per Order for currency options, whereas Zerodha charges Rs.10 – Rs.35 per Lot.
| Currency Brokerage Charges | Zerodha | ICICI Direct |
|---|---|---|
| Currency Futures Brokerage | Rs.20 Per Order | 0.03% – 0.05% |
| Currency Options Brokerage | Rs.20 Per Order | Rs.10 – Rs.35 per Lot |
Zerodha and ICICI Direct Commodity Brokerage Charges
Commodity Trading: Commodity trading involves the purchase and sale of various commodities such as gold, silver, agriculture, and energy, as well as their derivative products. Zerodha charges CDSL for commodity trading, while ICICI Direct charges NA.
| Commodity Brokerage Charges | Zerodha | ICICI Direct |
|---|---|---|
| Commodity Options Brokerage | CDSL | NA |
Zerodha and ICICI Direct Other Charges
Here are some other broker charges that should know about -
Minimum Broker Charges: Zerodha levies a minimum brokerage fee of Zero, while ICICI Direct charges Rs.35 per Trade brokerage fee.
Transaction Brokerage Charges: Zerodha levies a transaction brokerage charge of 0.00325% of Total Turnover, while ICICI Direct charges 0.00280% of Total Turnover.
SEBI Turnover Charges: Securities and Exchange Board of India (SEBI) is the market regularly and monitors fair trade practices. They also charge a small fee known as the SEBI Turnover fee. So, the SEBI Turnover charges for Zerodha is 0.002% of Total Turnover and for Zerodha is 0.0002% of Total Turnover.
Stamp Duty Charges: This fee is charged as per the state and asset class.
GST Charges (Goods and Services Tax): GST of 18% is charged (brokerage and transaction charges)
STT (Securities Transaction Tax): The STT charges for Zerodha are 0.0126% of Total Turnover, while for ICICI Direct, they are 0.0126% of Total Turnover.
Call and Trade Charges: This charge varies for different brokers. Zerodha charges Rs 50 per executed order and ICICI Direct charges Rs 25 per call after first 20 free calls per month.
| Other Brokerage Charges | Zerodha | ICICI Direct |
|---|---|---|
| Minimum Brokerage Charges | Zero | Rs.35 per Trade | Transaction Brokerage Charges | 0.00325% of Total Turnover | 0.00280% of Total Turnover | SEBI Turnover Charges | 0.002% of Total Turnover | 0.0002% of Total Turnover | Stamp Duty Charges | As per the state | As per the state | GST Charges | 18% of (Brokerage + Transaction Charges) | 18% of (Brokerage + Transaction Charges) | STT Charges | 0.0126% of Total Turnover | 0.0126% of Total Turnover | Call and Trade Charges | Rs 50 per executed order | Rs 25 per call after first 20 free calls per month |
Zerodha and ICICI Direct Equity Exposure/Leverage
With the leverage, you can trade for a much higher amount than you actually pay for it. It means to borrow money for buying securities. For example, if you want to buy stocks for Rs. 5,00,000, but have only funds of Rs. 2,00,000. Then, you can get the remaining 3,00,000 Rs. from the broker by paying them some margin amount.
Equity Delivery: Leverage provided for Equity Delivery by Zerodha is up to Upto 20x and by ICICI Direct it is up to Upto 8x.
Equity Intraday: Leverage for equity intraday by Zerodha is up to Upto 28x and by ICICI Direct it is up to Upto 16x.
Equity Futures: Leverage for Equity Futures by Zerodha is up to Upto 15x and by ICICI Direct it is up to Upto 8x.
Equity Options: Leverage for Equity Options by Zerodha is up to Upto 8x and by ICICI Direct also, it is up to Upto 5x.
| Equity Leverage | Zerodha | ICICI Direct |
|---|---|---|
| Equity Delivery | Upto 20x | Upto 8x | Equity Intraday | Upto 28x | Upto 16x | Equity Futures | Upto 15x | Upto 8x | Equity Options | Upto 8x | Upto 5x |
Zerodha and ICICI Direct Currency Leverage
The currency futures leverage provided by Zerodha is up to Upto 12x, while for ICICI Direct it is up to Upto 8x.
The currency options leverage provided by Zerodha is up to Upto 8x, while for ICICI Direct it is up to Upto 8x.
| Currency Leverage | Zerodha | ICICI Direct |
|---|---|---|
| Currency Futures | Upto 12x | Upto 8x | Currency Options | Upto 8x | Upto 8x |
Zerodha and ICICI Direct Commodity Leverage
The commodity leverage provided by Zerodha is up to Upto 17, while for ICICI Direct it is up to Upto 12x.
| Commodity Leverage | Zerodha | ICICI Direct |
|---|---|---|
| Commodity | Upto 17 | Upto 12x |
Zerodha and ICICI Direct Offers
Brokers offer various exciting offers to entice new customers. Here are some of them:
Free Stock Trading and Demat Accounts: many brokers offer new investors to open an account free to cost and start trading straight away with them.
Flexible Plans: attractive plans at an economical price such as ProStocks monthly plan targeting equity cash and currency F&O at Rs.899 and Rs.499, respectively.
Brokerage Discounts: Coupons providing up to 50% discount at their rates.
Happy Hours: A specific time slot where the trades/customers get broker's services at a discount.
1-month Free Plan: where brokers provide free delivery trading such as OneTradePlus.
Holiday Offers: brokers are providing their services at a discounted rate on special events such as Diwali.
Referral Program: brokers provide a discount when your family or friends sign up with the broker using your referral code.
Zero Brokerage on Loss Trade: complete refund of money on unsuccessful trades.
| Offers | Zerodha | ICICI Direct |
|---|---|---|
| Free Stock Trading Account | No | No | Free Demat Account | No | No | Flexible Plans | No | Yes | Brokerage Discounts | Yes | No | Happy Hours | No | Yes | 1 Month Free Plan | No | No | Holiday Offers | No | No | Referral Program | No | Yes | Zero Brokerage on Loss Trades | No | Yes |
Zerodha and ICICI Direct Features
Equity Trading: Zerodha and ICICI Direct brokers are among the top brokers in India. They provide you with various trading options like Equity Delivery, Equity Intraday and Equity Futures and Options trading.
Currency and Commodity Trading: Zerodha and ICICI Direct also offer you to trade in currency and commodities.
Initial Public Offering (IPOs): One of the greatest advantages of Zerodha and ICICI Direct broker is that you can also invest in IPOs. Zerodha also has an added advantage that they provide you with robo-advisory services as well.
Trading Exposure: Different brokers provide different trading exposures. Zerodha offers trading exposure of up to Upto 28x, while ICICI Direct gives up to Upto 16x.
Mutual Funds: Investing in mutual funds is a great option to grow your wealth and many brokers offer the option to invest on that. With Zerodha and ICICI Direct, you can invest in mutual funds through SIP and Lumpsum.
Forex Trading: With Forex Trading, you can trade in various international currencies. Zerodha and ICICI Direct also allow you to trade in forex trading.
| Features | Zerodha | ICICI Direct |
|---|---|---|
| Equity Delivery Trading | Yes | Yes | Equity Intraday Trading | Yes | Yes | Equity Futures Trading | Yes | Yes | Equity Options Trading | Yes | Yes | Currency Trading | Yes | Yes |
| Commodity Trading | Yes | No | IPO (Initial public offering) | Yes | Yes | Stocks Suggestions | No | No | Robo Advisory | No | Yes | PMS (Portfolio Management Services) | No | Yes |
| Trading Institution | No | Yes | Trading Exposure | Upto 28x | Upto 16x | Mutual Funds | No | Yes | SIP (Systematic Investment Plan) | No | Yes | Forex Trading | No | No | Banking | No | Yes | Insurance | No | Yes |
Zerodha and ICICI Direct Advisory Services
Discount brokers and full-service brokers offer different services. Here are some of the top advisory services offered by brokers-
Fundamental Reports: These are the reports that analyse a company's financial statements and help investors and financial analysts make decisions about a company's present financial status.
Research Reports: Many broker companies have in-house research teams which are experienced and help people to give research reports on various securities like stocks, currency, mutual funds, etc. Zerodha and ICICI Direct offer you in-depth research reports.
Company Reports: These are detailed and easy-to-understand reports on the company's measures throughout the year, month, or week.
Relationship Manager: Full-service broker gives a dedicated relationship manager, who will clear all your trading queries and help you throughout your trading journey.
Other Services: Many brokers provide more services depending upon the brokerage price like Company Stock Reviews, Free Stock Tips, IPO Reports, Top Picks, Daily Market Reviews, Monthly Reports, Weekly Reports and Offline Advisory.
| Advisory Services | Zerodha | ICICI Direct |
|---|---|---|
| Fundamental Reports | No | Yes |
| Research Reports | Yes | Yes |
| Company Reports | No | Yes |
| Annual Reports | No | Yes |
| Company Stock Review | No | Yes |
| Free Stock Tips | No | No |
| IPO Reports | No | Yes |
| Top Picks | No | No |
| Daily Market Review | No | Yes |
| Monthly Reports | No | Yes |
| Weekly reports | No | Yes |
| Offline Advisory | No | Yes |
| Relationship Manager | No | Yes |
Zerodha and ICICI Direct Desktop Trading Platforms
A trader can utilise multiple trading platforms to trade in stocks, commodities, etc. A good and advanced trading platform can make your trading easier and result in profit maximization. Zerodha and ICICI Direct offer a Desktop Trading Platform with advanced tools, interactive charts, and quick buying and selling of securities. Their trading platforms can be used in Windows, Mac and Desktop browsers as well.
| Desktop Trading Platforms | Zerodha | ICICI Direct |
|---|---|---|
| Windows | Yes | Yes |
| Mac | Yes | Yes |
| Desktop Browser | Yes | Yes |
Zerodha and ICICI Direct Mobile Trading Platforms
Zerodha and ICICI Direct offer you mobile trading platforms which can be used in iOS and Android applications.
| Mobile Trading Platforms | Zerodha | ICICI Direct |
|---|---|---|
| Mobile Browser | Yes | Yes |
| Android App | Yes | Yes |
| iOS App | Yes | Yes |
| Windows App | No | No |
| Other mobile os | No | No |
Zerodha and ICICI Direct Customer Support
Customer service is a critical aspect in converting a new customer into a loyal and long-term customer. Because the trading market moves quickly, an investor requires appropriate customer assistance from their brokers. Zerodha and ICICI Direct give good customer support and service to their clients. They help you in online trading through chat support, e-mail support and call support.
| Customer Support Features | Zerodha | ICICI Direct |
|---|---|---|
| Relationship Manager | No | Yes |
| Offline Trading | No | No |
| Online Trading | Yes | Yes |
| 24 * 7 Support | Yes | No |
| Email Support | Yes | Yes |
| Chat Support | Yes | No |
| Toll free number | No | No |
| Support Branches | Zero | 226 |
Zerodha and ICICI Direct Customer Complaints
The BSE and NSE actively accept and handle complaints to maintain a stringent check and balance on fair-trade opportunities. Investors can file complaints about brokers or companies in case of any unfair trade practices. BSE and NSE make sure to resolve your complaints within a certain time. Check out the table below for Zerodha and ICICI Direct registered and resolved complaints.
For Zerodha, the Percentage of resolved BSE complaints is 97.50 % and the Percentage of resolved NSE complaints is 95.51 %.
For ICICI Direct, the Percentage of resolved BSE complaints is 95.56 % and the Percentage of resolved NSE complaints is 92.86 %.
We can say that Zerodha is better than ICICI Direct in case of resolving customer complaints.
| BSE Complaints | Zerodha | ICICI Direct |
|---|---|---|
| BSE Complaints | 120 | 225 |
| BSE Resolved Complaints | 117 | 215 |
| Percentage of resolved BSE complaints | 97.50 % | 95.56 % |
| NSE Complaints | 89 | 196 |
| NSE Resolved Complaints | 85 | 182 |
| Percentage of resolved NSE complaints | 95.51 % | 92.86 % |
| BSE/NSE Complaint vs. Resolved Percentage | 96.50 % | 94.21 % |
Frequently Asked Questions
Is Zerodha better than ICICI Direct?
Zerodha is a discount broker and ICICI Direct is a full service broker. You need to look for brokerage charges, account opening fees, trading platforms, etc. to determine which one is better.
Is ICICI Direct better than Zerodha?
ICICI Direct is a full service broker and Zerodha is a discount broker. As a result, we must examine features such as brokerage costs, account opening fees, trading platforms, and more to determine which of them is a better stockbroker.
Which is cheaper between Zerodha and ICICI Direct?
The brokerage charges for Zerodha are on the cheaper side since it is a discount broker, while ICICI Direct is a full-service broker. In general, the brokerage fees for both of them will be relatively similar. Examine the brokerage fees in-depth to determine the less expensive broker for your requirements.
Which is better, Zerodha and ICICI Direct?
To figure out which of the two stockbrokers, Zerodha and ICICI Direct, is better, compare their brokerage charges, trading platforms, other expenses, research, account opening charges, and so on.
Compare Zerodha with other stock brokers
Visit the following pages to see a detailed comparision report of Zerodha with other brokerage firms.
Compare ICICI Direct with other stock brokers
Visit the following pages to see a detailed comparision report of ICICI Direct with other brokerage firms.