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Commodities Trading with ICICIDirect - Explained

Posted on Tuesday, April 19, 2016

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Commodities Trading with ICICIDirect - Explained

About ICICIDirect

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

  • Integrated banking, trading and demat account
  • Seamless trading in equity and currency derivatives at BSE and NSE
  • Single window for all your investment needs i.e Equity, Debt, Mutual Funds, Insurance and Loan
  • Call N Trade service to place order over the phone
  • Live streaming quotes with eMarketwatch and Trade Racer

Does ICICIDirect offers commodity trading?

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.

 

How do I invest in commodities at ICICI?

While you cannot trade in commodity derivatives with ICICI Direct, you have few ways to invest in some commodity products (mainly Gold) with ICICIDirect.

Commodity Exchange Traded Funds (ETFs)

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 ETF

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

Gold ETF in India Stock Market

Symbol

Underlying Asset

Traded Volume('000s)

GOLDBEES

Gold

12.86

SETFGOLD

Gold

5.21

HDFCMFGETF

Gold

2.32

RELGOLD

Gold

1.75

GOLDSHARE

Gold

1.37

KOTAKGOLD

Gold

9.54

AXISGOLD

Gold

0.82

QGOLDHALF

Gold

1.1

IGOLD

Gold

0.34

IDBIGOLD

Gold

0.09

RELIGAREGO

Gold

0.04

BSLGOLDETF

Gold

0.02

CRMFGETF

Gold

0.01

 

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.

Popular brokers offering commodity trading

There are hundreds of brokers who offer commodity trading. The list includes both full-service brokers as well as discount brokers.

  1. Full Service Commodity Brokers

    Following is the list of 5 top full service brokers offering commodity trading:

  2. Discount Commodity Brokers

    Following is the list of 5 top discount brokers offering commodity trading:

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