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 ICICIDirect Customer Reviews, Complaints, Experiences & True Feedback

ICICI Securities Pvt Ltd.

ICICIdirect is a retail trading and investment service from ICICI Securities, the largest retail stock broker firm in India offering a wide range of investment options to the retail and institutional customers. ICICI Securities is part of ICICI Group... Know more about ICICI Securities Pvt Ltd.

Stock Broker Review Ratings

Overall Rating Fees Brokerage Usability Customer Service 248 votes
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137. Against icicidirect  Oct 21, 2008 11:22:34 PM IST |  Reply 

Hi, This is Yogesh.

Few days back I have requested to ICICI Direct to open my trading account with them. I have processed the request through website.

Third day I got a call from ICICI Direct Telemarketing asking for the convenient timing for appointment.

I gave her three convenient timings.

1. Friday 14Oct05 up to 6.30 PM official address

2. Saturday 15Oct05 up to 12.30 PM residential address.

3. Monday 17Oct05 up to 6.30 PM official address

She has confirmed that for sure executive will arrive on Saturday 15Oct05 up to 12.30 PM residential address.

I was waiting for the executive through out the day no body from ICICIDirect has arrived.

Then in the evening 7.30 PM I got a call from Mr.Vidhate. Just have look at Conversation help between me and Mr.Vidhate.

Me: This is Yogesh Varma

Vidhate: "Aapane ICICI Direct me apply kiya tha?"

Me: Ha, but I have given appointment for 11.30 AM today

Vidhate: I got your request just five minutes back.

Me: Oho. Then please come down to my office by Monday up to 6.30 PM. This is very bad that you got the

Vidhate:Ye yaha pe aisa hi hai. Apaki account open karana hai to mai kal aapake ghar mere kuch client khatam karane ke bad kabhibhi aa sakata hu.

Me: I don't want you to come at anytime. Give me a specific time so that I can be at my residence and give you the necessary documents.

Vidhate:Where are you going tomorrow. Wherever you are going just carry your documents with you I will collect it on road.

Me: This is not at all possible.

Vidhate:Then leave it. You account can not be opened.

Me: How come you can say this???

Vidhate: Sahab hamara kam aisa hi hai. aap kuch nahi kar sakate

Me: I will complaint for your way of behavior to ICICI.

Vidhate: Bola na aap kuch bhi nahi kar sakate.

Me: I will come down to your office then only will talk. It seems that you are not well.

Vidhate: Aap kya ukhad lenge office me aa kar ke?? Ukhadlo

Me: It seems that you are drunk.

Call was disconnected.

After 5 minutes again he called me up from diff. number.

Vidhate:Kyan aap muze salary dete ho kyan? Ham aapake naukar hai kyan?? Ham ICICI ke liye kam karate hai. Daru pile chahe jo bhi kar le. aap ko kyan matlab?

Me: Aap daru pio ya na pio but pls. muze parshan mat karo. I dont want to keep any relation with ICICI.

Vidhate:Aapane relation band kiya to kyan ICICI band honga kyan. Tumhare jaise bahut logoko ham ander bhi nahi lete.

Me: Mind your language. and if you are calling me once again then I will have to file a police complaint against you.

Vidhate:Mai aapake ghar aake aapako delhata hu. Ruko aap ghar par hi.

I have discconeected the call.

Now this kind of service ICICI is offering.

Even not only me but I have got lots of customers who are all the victim of ICICI's fine treatment in case of credit card as well as Homelaon.

Can we stop this ????

the worst service on offerings

136. Paul  Oct 20, 2008 4:29:50 AM IST |  Reply 

I tried to open an online A/c but it is asking for zip code, in Canada we have postal code which it does not accept. Further, it will not accept my tel no, do you have any phone no. for help

135. Rajesh sharma  Oct 17, 2008 12:53:28 PM IST |  Reply 

i have recently taken bsnl broadband for icicidirect tradind purpose but excet icicidircr login, tradind link all links are open even all other websites are easily opencan u suggest me how am able to open my login and startig tradind eith icicidirecr

134. Adarsh  Oct 15, 2008 11:33:55 AM IST |  Reply 

ICICI Direct website is the worst trading website. It was never designed to handle heavy traffic. Since the last 2 days when there was extreme volatility, the site was not even opening !!

All my profits are gone. And instead i am now in a loss position. Who will be responsible for this?

I would defenitely not recommend ICICI Direct if you trade Futures actively. Think twice before you place ur order,coz you may find yourself in deep red by the time the site comes up.

133. narender  Oct 2, 2008 4:20:56 PM IST |  Reply 

ofcourse icicidirect.com is ggod site for on line trading, but their brokerage charges are very high, most of the profit goes in to the brokerage. if they can reduce the charges then it is very good site for online trading.

132. ICICI Bank Service Team  Sep 30, 2008 4:15:24 PM IST |  Reply 

September 30, 2008

Dear Sir/ Madam,

We greatly value your relationship with us. In the context of the developments in the international financial markets, we thought it pertinent to bring to you our perspective of the prevailing situation.

We would like to bring to your attention that the Indian banking system is well regulated and significantly insulated from global developments. This is because it is mandatory for all Indian Scheduled Commercial Banks to retain 34% of the deposit base in the form of Government Securities (SLR) and cash with RBI (CRR). Besides, sound policies of RBI have ensured prudent credit practices in the Indian Banking system.

ICICI Bank is already compliant with the BASLE II requirement in respect of risk management practices and capital adequacy. At 13.4%, ICICI Bank has one of the highest capital adequacy ratios in the Indian banking industry. Last year, ICICI Bank raised Rs. 20,000 crores (US $ 5 billion) of equity capital, which almost doubled our equity capital base. We have a net worth of over Rs. 47,000 crores (US$ 10 billion), again one of the highest in the banking industry in India We have consolidated total assets of over Rs. 4,84,000 crores (over US $ 105 billion), which is diversified across a wide range of asset classes across retail, wholesale and rural banking.

ICICI Bank is amongst the most profitable banks in India. In FY 08, ICICI Bank made a profit of Rs. 4,158 crores (US$ 900 million).

ICICI Bank has the highest credit ratings in the Indian financial sector. We have AAA ratings for our instruments, such as senior bonds, subordinated bonds, and deposits. We have the highest foreign currency bond ratings assigned to any Indian bank from Moodys and S&P.

We continue to invest in growth, indicating our confidence in the opportunities in the Indian market. In 07-08, ICICI Bank added 650 new branches, taking the total strength to over 1400 branches.

We thank you for reposing trust in us over the years. We look forward to setting new benchmarks in service levels in India and to create a bank that you will continue to be proud of.

As a testimony to the above, please find below the clarification given by Reserve Bank of India.

Date : 30 Sep 2008
RBI Statement on ICICI Bank's Financial Position
There are reports in some sections of the media that based on rumours regarding the financial strength of ICICI Bank, depositors are withdrawing cash at its ATMs and branches in some locations.

It is clarified that the ICICI Bank has sufficient liquidity, including in its current account with the Reserve Bank of India, to meet the requirements of its depositors. The Reserve Bank of India is monitoring the developments and has arranged to provide adequate cash to ICICI Bank to meet the demands of its customers at its branches/ ATMs.

The ICICI Bank and its subsidiary banks abroad are well capitalised.

Alpana Killawala
Chief General Manager

Press Release : 2008-2009/412


Uma Lakhani
Office of Head Service Quality
ICICI Bank Ltd.

131. kamal hyder  Sep 24, 2008 12:52:38 PM IST |  Reply 

I would like to open an account in ICICIDIRECT for buying or selling shares.Please guide me.i am from Guwahati,Assam.How to get in touch with ICICI

130. Namit Rathore  Sep 18, 2008 6:00:57 PM IST |  Reply 

I have been trading on IciciDirect for more than 5 years now. I started off as an investor and used to buy and sell once in a while. But since last 2 years I am trading heavily in F&O. For anyone who wishes to open trading account with ICICIDirect I would say - NO. Reasons :
1. Their trading platform is very poor. Quite often you will find that -
a) Their trading platform is archaic. The quotes doesn't get updated automatically. You have to press refresh button everytime you want to check the latest rates.
a) The site in not accessible during trading hours, especially on days when there is high volatility. Don't know whether it's because of their bad system or deliberate act so that they can clear off their proprietary positions before their customers can !!!
b)If you place an order as soon as the market opens, your order appears under status "queued" and remains like that for 10-15 minutes. At that time you can neither modify or cancel the order. In such cases I have experienced that many a times the trade does get executed if your price is breached while at other times, even if you see that the market price became better than your order price and stays like that for 5 minutes and then goes above your price, still your trade doesn't get executed. For eg. yesterday I had a short position on SBI at 1579 c/f from previous day. In the morning I was thinking that I should cover SBI at the opening bell as DOW had closed 150ponits + the night before. SO I placed oprder at 1555 immediately at the open. When I ordered, the price was well above 1570. After 5 minutes I saw that the trend is actuall down and wanted to change the order to 1530 but when I went there it was under queued status. After 15 minutes, when the price was below 1540, in my orders book I saw that the trade was excuted at 1555!!!! Eventually the stock did touch 1522 in the first half of the day.
c) Very often the F&O rates stop getting updated. So you don't know what is the current rate at the exchange. For an F&O trader, even a 5 paisa difference matters. So one misses out on a lot of opportunities

2) Their customer service is very very poor. If you call them when facing any problem with their website for the above problem, first thing that would frustrate you would be the amount of time that you will have to wait before someone answers About 4 months ago, if you select an option to speak to CCE, you will be told that the call will be answered in 6 minutes but no one would respond even after 10 minutes. Even otherwise,it takes up valuable time in going through answering all the options on the phone menu. And then even if you select the right options it goes to the wrong person. A lot of time when I called for placing an order when the website is down, it invariably goes to the agent who deals in Cash market and not F&O. From there the guy transfers to the relevant dept. Then again a lot of time goes in verifying yourself even if you have reached there using your TPIN.
3)When you call them for problem that you face on their site, their customer service has a standard answer - "There is a technical problem and it will take 1/2 hour". Lately the disruptions on their website is very frequent, possibly because they may have got more number of users than what it was designed to support.
4) As if their brokerage wasn't high enough compared to it's competitors, from 15th Sep 2008 it increased it further by levying SEBI Turnover Tax, Stamp Duty and Transaction charges levied by the exchange in addition to STT and Serice tax that one was already paying, saying that these new charges were statutory charges which were so far borne by them. These charges exist for more than 3 years now and I always thought that in deciding the brokerage charges, they must've taken this into account. All other players in the market do not charge it separately so far.

So if you area a trader in F&O, I wold not recommend ICICIDirect despite some very good feature like seamless transfer of money and margin against share.
Anyone can suggest who offers the best trading in F&O. I am looking for speed, reliability and good customer care.

129. Rajesh   Sep 11, 2008 10:14:00 PM IST |  Reply 

there is no doubt, ICICIdirect.com is best trading plateform and reliance money is the worst.
The only problem with icici is extremly poor service at bank brs after opening the acct. the living example is KYC norms which bank claim to be destroyed, but takes no interest to complete, their by customer suffer. any body either regulating body or icici bank listen and help poor invested

128. aswini  Sep 3, 2008 11:51:58 PM IST |  Reply 

Is it transfer shares from one account(say icici bank/ICICI direct.com) to another in (say sharekhan). Is it possible hroug icici bank/icici direct.com web site. If possible what is the transation chage?
If share hel are to be transfered for closing the account, what is the charge?

pl. advise

127. RAYHAN ZAHIR  Sep 2, 2008 12:17:08 PM IST |  Reply 

I am able to log in but trading is being stoped at your end for unknown reasons to me .Please verify.

126. surendra ingale  Sep 1, 2008 2:19:46 PM IST |  Reply 


125. Jodh Singh  Aug 27, 2008 8:47:40 PM IST |  Reply 

icicidirect.com site is very fast as compered to reliance money ,sharekan, religare etc.It takes your hard earning by brokerage very fast.

124. AMIT KAPOOR  Aug 12, 2008 5:02:24 PM IST |  Reply 


123. Neelesh  Jul 20, 2008 11:00:03 PM IST |  Reply 

I would like to open an online trading a/c.Also I have heard that while selling shares , one has to give some interdepository charges (around 25/- per transaction) apart from the brokerage.Is it true?
So please suggest me a reasonable a/c.

122. manoj  Jul 11, 2008 2:13:45 AM IST |  Reply 

some time i am facing problem in "square off" message comes on screen aftet clicking on square off due to technical reason page can not be displayed. please try after some time. i have lost so many profit money due to this problem.

121. helper  Jul 8, 2008 6:58:27 PM IST |  Reply 

reliance money is worst trading site . never open an account with reliance money .
do u know ???
1. reliance money account does not allow offline orders.
2. at the time of opening the account you ask them to give one year limit card validity and they give u only 2 month validity limit card.
3. after the completion of 2 monthes , they recharge your limit card themselves for rs 500 with 2 monthes validity again and deduct 500 rs without ur permission from ur account .
4. many times while doing intra day trading , some shares come to your account automatically (in delivery ) and you have to face a lot of problem with that .
5. at the time of intraday trading sometimes you may suffer huge money loss due to their server problem .
6. their customer care is zero (like reliance mobile) .
there are many more other problems . I know all this because I have an account with RELIANCE MONEY .
so be cautious !!!

120. nimayi thkaur  Jul 8, 2008 3:55:31 PM IST |  Reply 

1) what are the annual charges for offline trading a/c
2) companies are going to help in making trade to customers
3) with an example of trade at any bse or nse stock list all ur maximum possible charges tax and postage that u are charging for each trade

119. himanshu  Jun 29, 2008 9:53:10 AM IST |  Reply 

plz let me know how can i make money more n how much should i invest from begning.....n whts u charges make it clear frst.....let me no as soon as posible...

118. Ashish  Jun 22, 2008 1:35:25 AM IST |  Reply 

I have been using ICICI for a small time. I can't understand exact brokerage & procedure for Intraday. NSE opens at 9:55am but ICICI at 10:00am why? I can't understand.
SEBI has made a rule for brokers that first priority of bidding should be of there customers & they should be impartial in dealing with scrips.
When market is bullish we get a bad network or login problems. Reason behind maybe that the working staff is open to bid as well hence there is so congestion in network. They place there order before ours hence our orders are all queued up.
SEBI will surely take an action if they come to know.

The exact brokerage as i have calculated is 2.93% for buying & 0.17% for selling at the traded value.
I believe if a company is hiding something in terms of charges there is definitely something wrong going inside company.
I am into it just because it is good for the novices.
I am scared of keeping huge amounts in my account because of increased no. of fraud cases coming each alternative day in the news.

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