Posted on Tuesday, April 19, 2016
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ICICIDirect is an online trading platform by ICICI Securities Ltd, a subsidiary of ICICI Bank offering access to capital market in India to retail and institutional investors.
ICICI Securities offers wide range of products to its over 35 lakh customers though ICICIDirect.com. The online platform offers popular investment options like Equity, Derivatives, Currency Futures, Mutual Funds, Fixed Deposits, Loans, Tax Services, New Pension Systems and Insurance.
3-in-1 account is the key offering of ICICI Direct, which integrates customers saving, trading and demat accounts. This account offers multiple financial products to retail customers under one website ICICIDirect.com in extremely simple way.
Features of ICICI 3-in-1 account
ICICIDirect doesn’t offer commodities trading.
You cannot use your ICICIDirect 3-in-1 account to trade in commodities derivative like crude oil, gold, silver or copper at MCX.
ICICIDirect.com only offers Equity Trading at NSE and BSE.
While you cannot trade in commodity derivatives with ICICI Direct, you have few ways to invest in some commodity products (mainly Gold) with ICICIDirect.
You can invest in commodity products where ‘Exchange Traded Funds’ (ETFs) are available. Note that in India, Commodity ETFs are available for only couple of commodity products including gold.
Commodity ETFs are funds that invest in physical commodities or their future contracts. This includes agricultural goods, natural resources and precious metals. The ETFs could have one or multiple underline commodities.
The Commodity ETF’s can be traded like any other stock. They can be kept in the demat account for long term.
Gold ETFs provide you the route of buy gold without the necessity of taking physical delivery of it. The units of these ETFs can be bought or sold at the stock exchange where it is listed on a real-time basis.
Prices of gold ETFs move inline with that of physical gold. When the price of gold moves up, the value of ETFs appreciates and vice versa.
God ETFs offers great liquidity and convenient way to invest in gold.
Example of gold ETFs from April 18, 2016
Note: In US Stock Exchanges, there are commodity derivative based ETF’s available for most popular commodities including Crude Oil, Gold etc. These fund are very closely aligned to the commodity derivative prices.
Hope that India will also have such ETF’s in near future.
There are hundreds of brokers who offer commodity trading. The list includes both full-service brokers as well as discount brokers.
Following is the list of 5 top full service brokers offering commodity trading:
Following is the list of 5 top discount brokers offering commodity trading:
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Rs 899 Unlimited Equity
Rs 499 Unlimited Curr
or Rs 15 per Trade
Lowest Transaction Charge
Lowest Call & Trade Fee
Lowest Stamp Duty
Flat Rs 20 Per Trade
Free Equity Delivery Trades
Rs 100 off on account opening* + 100% brokerage refund if in 60 days you have made net profits
(* on online account opening)