A few days back, I had written topics on the Demat a/c with SBI and Angel Broking. Today I have come with another renowned broker, ICICI. Here, I will explain every facility and the advantages of opening a Demat account with ICICI. From the required documentation to charges, every detail you will get here in this post. So let’s begin with the common FAQ on it. Then I will go into how to open Demat Account with ICICI.
FAQ on Demat Account with ICICI
Yes, you can open a Demat account online in ICICI. They offer you some of the simplest ways by which you can open Demat accounts with them. Like, you may visit your nearest ICICI branch to open Demat or you can do this by the net banking system. All you need is some relevant documents and the chequebook of yours.
Demat account service is one of the most renowned services of ICICI. They offer 3 in 1 trading facility. There you open one account and can avail of the Demat, trading, and savings account services together. As they are regular brokers, the brokerage charges are a little higher than discount brokers. But their excellent trading platforms and multiple facilities make them unique and better than others.
As we know the ICICI Direct is one of the most visited and popular investment portals in India. They provide a 3 in 1 account opening facility which includes a savings bank, Demat, and, trading accounts. The account opening facility is available for retail Indian stock market investors. Undoubtedly, it is a very innovative and efficient way to invest in various financial instruments.
Features of the Demat Account with ICICI
Here, are some of the best features of the ICICI Demat.
- Easy Accessibility of Information: You can get easy and quick access to information such as holdings, billing, and transactions, through mobile messages or SMS.
- Multiple Corporate Benefits: The benefits one gets through his or her account, are the bonus, dividends, right issues, etc. One can also track the account statement.
- Helpful Customer Service: With more than 1000 branches, ICICI provides whole-time customer service.
- Electronic Instruction Benefits: You can use the internet and IVR (Interactive voice response). This can help you in transferring securities at any time during the day.
- In ICICIDirect you can easily manage your own Demat, trading, and bank accounts through the same portal ICICIdirect.com.
- You can handle your online investments like IPOs, Govt Bonds, Mutual Funds, and Postal Savings Schemes all from just one website.
- General Insurance facilities are also available from ICICI Lombard.
- Trading exchange is connected with both BSE and NSE.
- With ICICI, a low bandwidth website is available for slow internet connection or for trading from mobile devices.
- One can quickly buy or sell limit orders in equity shares through my GTC options.
Charges of the Demat Account with ICICI
I have attached a list below of the brokerage charges of ICICI. The chart will give you properly updated information on every sort of charge that is imposed by ICICI Direct.
As you can conclude from observing the table, they typically impose a brokerage fee worth 0.03 % – 0.05 %. And also with respect to Currency Futures Trading, 0.03 % – 0.05 %, Equity Futures Trading, 0.55 % with respect to Equity Delivery Trading, 0.03 % – 0.05 % with respect to Equity Intraday Trading.
For derivative, brokerage of Rs. 35 – Rs. 95/lot with respect to Equity Options Trading, Rs. 10 – Rs. 35/lot with respect to Currency Options Trading, Rs. 35 per trade in terms of Minimum Brokerage is also charged by the broker.
Among several stockbrokers available in India, you can open your Demat and trading account with ICICIdirect. We are a full-time stockbroker and our charges are very nominal as compared to the market. Mentioned below are the charges and fees for opening a Demat account with ICICIdirect:
| Types of Charges | Charges |
|---|---|
| Demat account opening charges | Nil |
| Demat account annual maintenance charges | Rs. 700 (waived for ICICIdirect customers for the first year) Rs. 300 for ICICIdirect Neo customers from the first year onwards |
| Demat account transaction charges | Buy – Nil for transactions done at ICICIdirect platform Sell – 0.04% of the value of securities (Minimum Rs. 30 and maximum Rs. 25,000) |
| Rejection of failure of transfer instruction for delivery (TFID) | Rs. 30 |
| Reconversion of mutual fund units | Rs. 25 per instruction |
| Dematerialization of share certificate | Rs. 50 for each request |
| Rematerialization of share certificate | Rs. 25 for every hundred securities subject to a maximum fee of Rs. 3 lakhs or a flat fee of Rs. 25 per certificate (whichever is higher) |
| Closure of Demat account | Nil |
Opening a Demat account with ICICIdirect not only gives you access to a wide range of trading and investment opportunities but also ensures that you are getting value for your money with our competitive fee structure.
How to Open ICICI Demat Account?
To open a Demat account, you need to have some important documents with you. Here is the list:
- Aadhar Card
- PAN Card
- Photograph
- Bank Cheque
You can download the account opening form from their official website or you can visit your nearest branch. As you can see from the above screenshot that there are two options, one is for Indian citizens and the other is for NRI customers. You just need to click on the link and a new page will appear. The account opening link is given here. The next page looks like this.
If you start fresh then click on the get started option. And if you are already in the process, click on the next option resume application. Once you click on get started, they will ask for some of your information.
There you need to put your PAN number, date of birth, and name, and click on next. If you face any problem during the procedure, you can contact their customer service.
Demat and Trading Software
ICICI Direct offers 2 trading platforms to its customers:
1. Website-Based Trading
The ICICI website-based online Shares Trading Account is mainly for buying and selling of stocks at BSE and NSE. The particular website allows Cash Trading, Margin Trading, MarginPLUS Trading, Spot Trading, Buy Today Sell Tomorrow, IPO Investment, Mutual Fund Investment, etc.
2. Trading Terminal (Trade Racer)
Trade Racer is a totally advanced power-packed Trading platform. It gives investors real live data & Research Calls, an integrated fund transfer system along with a different watch list facility. Investors can also do technical analysis with advanced charting tools. Apart from this, there is a Single Order entry page for Equities and Derivatives, Technical Analysis, Integrated Fund Transfer System, Customized Interface, Intra-day, and EOD Charts and Shortcut keys for faster access to markets. These are some of the key features of the Trade Racer Terminal.
Conclusion
So, I hope you will get your required information about trading and a Demat account with ICICI Direct from the post. Still, if you have any queries or questions on this topic, you may ask me in the comment section below.