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ICICIdirect Vs Prostocks NRI Account Comparison

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

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

Our ICICI Securities Pvt Ltd. comparison with Prostocks highlights the major differences between two brokers. Find the best between ICICIdirect and Prostocks NRI Account.

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ICICIdirect Vs Prostocks

  ICICIdirect Prostocks
 
ICICI Securities Pvt Ltd. Logo Prostocks 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. Prostocks is a flat-fee discount stock broker offering online investing and trading services to Resident and NRI Investors. It offers a 2-in-1 account, combining trading and demat account, to NRIs to trade across equity, derivatives, mutual funds, an... Know more about Prostocks
Account Type NRI Account NRI Account
Broker Enquiry Open an Online Trading Account with ICICIdirect. Leave your contact info and we will get in touch with you. Open an Online Trading Account with Prostocks. Leave your contact info and we will get in touch with you.
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ICICIdirect Vs Prostocks Charges

  ICICIdirect Prostocks
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 0 (Lifetime Zero AMC)
PIS Account AMC NA
RBI approval for PIS (One time) ₹500 + GST ₹500 + GST
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ICICIdirect Vs Prostocks NRI Account Brokerage Comparison

Brokerage Plan

  ICICIdirect Prostocks
Account Type NRI Account NRI Account
Equity Delivery 0.50% - 1.25% ₹100 per executed order
Equity Futures 0.03% - 0.05% ₹100 per executed order
Equity Options ₹70 to ₹95 ₹100 per executed order

Other Charges

Contract Note Reporting Charges NA
Other Brokerage Charges
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 Prostocks NRI Account Taxes/Fees

  ICICIdirect Prostocks
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 Prostocks NRI Account Exposure Margin

  ICICIdirect Prostocks
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 Prostocks NRI Account Feature Comparison

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

  ICICIdirect Prostocks
  453 Customer Reviews    Rate ICICIdirect 36 Customer Reviews    Rate Prostocks
Fees 2.2 4.5
Brokerage 1.7 4.2
Trading Platform 3.3 2.8
Customer Service 2.7 3.1
Overall Rating Rated 2.4 stars Rated 3.2 stars
Broker Rating ICICIdirect is Rated 2.4 / 5 based on 453 customer reviews Prostocks is Rated 3.2 / 5 based on 36 customer reviews
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Contact Broker / Request A Call Back

  ICICIdirect Prostocks
Contact Broker
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ICICIdirect Vs Prostocks NRI Investment Options

  ICICIdirect Prostocks
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 Prostocks NRI Customer Service

  ICICIdirect Prostocks
Customer Care Number +91-22-28307780 +91 22 6243 4343, +91 22 3811 0110
Customer Care Email nri@icicidirect.com sales@prostocks.com
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ICICIdirect Vs Prostocks Order Type Offered for NRI Account

  ICICIdirect Prostocks
Bracket Order Yes No
Cover Order Yes No
After Market Order(AMO) Yes No
Good Till Cancelled (GTC) Yes No
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ICICIdirect Vs Prostocks - NRI Account Advantages and Disadvantages

  ICICIdirect Prostocks
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.
  • Prostocks charges a flat fee of ₹100 per executed order which is the cheapest fee charged by any broker in India.
  • Traders can choose from in-house trading platforms or NSE NOW software to trade as per their convenience.
  • Demat and Trading accounts at Prostocks are lifetime AMC free.
  • NRI customer doesn't require separate Custodial Account to trade in Equity F&O. Prostocks is a registered clearing member who can get the CP code for NRI and clear the trades. This offers a huge saving for NRI customers.
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.
  • Doesn't offer a 3-in-1 account. An NRI has to open an NRI Bank Account before opening a trading and demat account.
  • GTC (Good Till Cancel) and AMO (After Market Order) not available.
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.

Prostocks offer online trading service at the cheapest brokerage rate to the NRIs. It has partnerships with 5 popular banks in India to offer NRI trading. The free account opening and AMC free demat & trading account is an added advantage for the NRI customers. Prostocks doesn't provide research and advisory service. It suits well for frequent traders who execute 100's of trades daily.

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ICICIdirect Vs Prostocks - More Reviews

  ICICIdirect Prostocks
NRI Trading Review ICICIdirect NRI Account Review Prostocks NRI Account Review
Enquire ICICIdirect Enquire Prostocks
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