ICICIdirect Vs IIFL Securities NRI Account Comparison

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.

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.

• Full-service broker with a dedicated relationship manager, research reports and a wide range of products & services.
• Online account opening process for NRIs.
• Convenient Mutual Fund investment through a mobile app or website.
• Part of IIFL Group, a financial services conglomerate.

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.

• Charges high brokerage as compared to discount brokers such as Zerodha and ProStocks.
• Doesn't offer an NRI 3-in-1 account. NRIs have to open an NRI bank account and custodian account on their own.

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.

IIFL is a reputed full-service broker. It offers NRI Trading & Demat account facility for NRIs. IIFL also offers an online mutual fund platform to NRIs. IIFL Securities has a dedicated research team that provides insights on the economy and markets to its customers. The company has its offices in multiple locations across the globe that allows NRIs to avail branch services. The brokerage charges are on the higher side which makes it an expensive broker for NRIs.