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ICICIdirect Vs Choice Broking NRI Account Comparison

The side-by-side comparison of ICICIdirect and Choice Broking NRI Account. Compare ICICIdirect Vs Choice Broking NRI Account brokerage charges, exposure margin, demat account and AMC. Read Choice Broking and ICICIdirect NRI Account reviews.

Find out ICICIdirect Vs Choice Broking which is better NRI Trading Account. See ICICIdirect Vs Choice Broking which is best NRI Demat Account.

Our ICICI Securities Pvt Ltd. comparison with Choice Equity Broking Private Limited highlights the major differences between two brokers. Find the best between ICICIdirect and Choice Broking NRI Account.

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ICICIdirect Vs Choice Broking

  ICICIdirect Choice Broking
 
  ICICI Securities Pvt Ltd. Logo Choice Equity Broking Private Limited Logo
About the Broker ICICI Bank offers trading and investment opportunities in India stock market to NRIs through ICICI NRI 3-in-1 account. It is a combination of an NRI saving bank account, an NRI Demat, and an NRI trading account. The ICICI 3 in 1 Account for NRI enab... Know more about ICICI Securities Pvt Ltd. Choice Broking is a full-service broker offering online trading and advisory services to NRIs (except for those residing in the USA and Canada). It offers 2-in-1 accounts, combining Demat and trading accounts, to NRIs. The 2-in-1 account enables NR... Know more about Choice Equity Broking Private Limited
Account Type NRI Account NRI Trading
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ICICIdirect Vs Choice Broking Charges

  ICICIdirect Choice Broking
NRI Account Opening Fees ₹4000 ₹0
NRI Account AMC ₹0 ₹0
NRI Demat Account Opening Fees Rs 0 (Free) Rs 0 (Free)
NRI Demat Account AMC Rs 300 (from 2nd year) Rs 200 or as per plan. (1st year AMC free)
PIS Account AMC NA
RBI approval for PIS (One time) ₹500 + GST ₹500 + GST
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ICICIdirect Vs Choice Broking NRI Account Brokerage Comparison

Account Type ICICIdirect NRI Account Choice Broking NRI Trading
Equity Delivery 0.50% - 1.25% 0.50%
Equity Futures 0.03% - 0.05% 0.03%
Equity Options ₹70 to ₹95 ₹100 per lot
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Other Charges

Contract Note Reporting Charges NA
Other Brokerage Charges Demat Account AMC - ₹200 per year
TDS Charges on Long Term Gain (Holding > 365 Days) 11.96% 11.96%
TDS Charges on Short Term Gain (Holding <= 365 Days) 17.94% 17.94%
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ICICIdirect Vs Choice Broking NRI Account Taxes/Fees

  ICICIdirect Choice Broking
Securities Transaction Tax (STT)
  • Equity Intraday: 0.025% (on Sell trade)
  • Equity Delivery: 0.1% (on Buy and Sell)
  • Equity Futures: 0.01% (on Sell trade)
  • Equity Options: 0.05% (on Sell trade premium) or 0.125% (on excersied options)
  • Equity Intraday: 0.025% (on Sell trade)
  • Equity Delivery: 0.1% (on Buy and Sell)
  • Equity Futures: 0.01% (on Sell trade)
  • Equity Options: 0.05% (on Sell trade premium) or 0.125% (on excersied options)
Exchange Transaction Charges Check Exchange Transaction Fee
SEBI Charges 0.00005% (₹5/Crore) 0.00005% (₹5/Crore)
Goods and Services Tax (GST) 18% on (brokerage + transaction charges) 18% on (brokerage + transaction charges)
Stamp Duty 0.01% on delivery based turnover and 0.002% on non-delivery based turnover. 0.01% on delivery based turnover and 0.002% on non-delivery based turnover.

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ICICIdirect Vs Choice Broking NRI Account Margin

  ICICIdirect Margin Choice Broking Margin
Equity Delivery 1x 1x
Equity Futures 1x 1x
Equity Options 1x 1x

1x margin means Full SPAN + Exposure margins defined by the exchange across Equity and Derivatives (Equity F&O, currency and commodity) segments. This means the broker does not offer any additional leverage.


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ICICIdirect and Choice Broking NRI Account Features

  ICICIdirect Choice Broking
3-in-1 Account Yes No
Automated Trading No
Free Research And Tips Yes Yes
Other Features
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ICICIdirect Vs Choice Broking NRI Account Review

  ICICIdirect Review Choice Broking Review
  457 Customer Reviews    Rate ICICIdirect 7 Customer Reviews    Rate Choice Broking
Fees 2.2 4.4
Brokerage 1.7 4.1
Trading Platform 3.3 4.4
Customer Service 2.7 4.0
Overall Rating Rated 2.4 stars Rated 4.1 stars
Broker Rating ICICIdirect is Rated 2.4 / 5 based on 457 customer reviews Choice Broking is Rated 4.1 / 5 based on 7 customer reviews
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Contact Broker / Request A Call Back

  ICICIdirect Enquire Choice Broking Enquire
Contact Broker ICICIdirect Neo Plan - Flat Rs 20 per trade brokerage (Intraday and F&O) + Free Account Opening + Get funds in 30 minutes from sell orders + Free trading tips. Open Instant Account Now Leave your contact information and we will get in touch with you....
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ICICIdirect Vs Choice Broking NRI Investment Options

  ICICIdirect Choice Broking
Stocks Yes Yes
Initial Public Offers (IPO) Yes No
Mutual Funds Yes Yes
Other Investment Options ETF, Corporate Bonds, NCD, FD, Insurance

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ICICIdirect Vs Choice Broking NRI Customer Service

  ICICIdirect Choice Broking
Customer Care Number +91-22-28307780 022-67079903, 9819545987
Customer Care Email nri@icicidirect.com nri@choiceindia.com
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ICICIdirect Vs Choice Broking Order Type Offered for NRI Account

  ICICIdirect Choice Broking
Bracket Order Yes Yes
Cover Order Yes Yes
After Market Order(AMO) Yes Yes
Good Till Cancelled (GTC) Yes Yes

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ICICIdirect Vs Choice Broking - NRI Account Advantages and Disadvantages

  ICICIdirect Choice Broking
Pros
  1. India's leading stockbroker. Part of the prestigious ICICI group, a financial services conglomerate.
  2. ICICI 3-in-1 NRI Account offers the easiest online trading experience.
  3. It offers an online trading facility with automatic fund transfer and PIS reporting.
  4. Invest online in Mutual Fund, NCD, FD, IPO, etc.
  5. GTC (or GTD, VTD) and AMO order types are available for placing orders in non-trading hours.
  6. It has a very stable trading platform.
  • Free account opening.
  • Advisory services with access to a wide range of research reports.
  • Convenient Mutual Fund investment through a mobile app or website.
  • Dedicated relationship manager.
Cons
  1. While ICICI trading platform gets the job done, it is very old trading software with poor user experience in comparison to the next generation online brokers like Zerodha, upstox, and 5paisa.
  2. The equity delivery brokerage is higher in comparison to discount brokers like Zerodha. With ICICI, a buy order or Rs 1 lakhs will cost Rs 1250 (1.25%) in brokerage. The same order at Zerodha cost Rs 200 in brokerage.
  3. NRIs from the UK (United Kingdom) cannot invest in IPO and Mutual Fund through ICICIDirect.com
  4. ICICI Bank doesn't offer online account opening to NRIs apart from customers from the US. Online account opening is also not available to Minor NRIs from the US.
  • Higher brokerage charges when compared to other discount brokers.
  • Do not offer 3-in-1 account services.
  • Do not provide an online account opening facility.
Conclusion

ICICI is a highly recommended trading account for NRIs who are looking for investing in the stock market and mutual funds in India. It offers a convenient way to invest with competitive brokerage charges. It offers a range of investment options along with a dedicated RM, NRI support desk, free research, and tips. GTC and AMO order helps NRI customers to place an order in their own convenient timings.

Choice Broking is a SEBI registered full-service broker offering trading and advisory services with a 2-in-1 account facility to the NRIs. The company offers online trading platforms to NRI for stock markets and mutual fund investments. Being a full-service broker, the brokerage charges are slightly on the higher side making it a costly broker for the NRIs. The company has a dedicated research team that provides insights on the economy and the markets along with a wide range of research reports to its clients based on its fundamental and technical analyses.

Promo / Offers

ICICIdirect Neo Plan (Discount Brokerage)

Open a 3-in-1 account with Neo Plan for:

  • Free Account Opening
  • Brokerage-Free Equity Futures trading
  • Flat Rs. 20 per trade brokerage in Options, Currency F&O and Commodity futures in BSE, NSE and MCX
  • Free trading tips
  • Get funds in your bank account in just 30 minutes of selling stocks

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