ICICI Direct Vs Choice Broking (Compare ICICI Direct and Choice Broking)


ICICI Direct
ICICI Direct is one of the largest retail stock brokers in India. It is part of the ICICI Group. It offers online trading and investment services to over 50 lakhs customers. The services offered include equity, commodity, and currency trading at BSE, NSE, and MCX. The company also offers Mutual Fund & IPO, Fixed deposits, Bond, NCD, wealth products, Home Loans, Loans against Securities, etc. ICICI Direct's most popular service is its 3-in-1 account, which includes ICICI Bank Account, ICICI ... Know more about ICICI Securities Pvt Ltd.


Choice Broking
Incorporated in 2010, Choice Equity Broking Pvt. Ltd (commonly known as Choice Broking) is a Mumbai-based full-service stockbroking firm. Choice broking is a subsidiary of a publicly listed financial services firm named 'Choice International Limited' that was formed in 1993. Choice Broking offers online trading and premium financial services for an entire range of financial products like Equity, Derivatives, Currency, Commodities, Mutual Funds, wealth management, Portfolio management, Insuran... Know more about Choice Equity Broking Private Limited

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ICICI Direct Vs Choice Broking

Incorporated in 2000, ICICI Direct is a Full Service Broker. It offers trading at BSE, NSE. It has 154 branches across India. Incorporated in 2010, Choice Broking is a Full Service Broker. It offers trading at BSE, NSE, MCX, NCDEX, ICDEX. It has 50 branches across India.

  ICICI Direct Choice Broking
Type of Broker Full Service Broker Full Service Broker
Exchnage Membership BSE, NSE BSE, NSE, MCX, NCDEX, ICDEX
Account Type ICICI Neo Plan Standard Plan
Year of Incorporation 2000 2010
Number of Branches 154 50
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ICICI Direct Vs Choice Broking Charges & AMC

ICICI Direct trading account opening charges is Rs 0 while Choice Broking account opening changes is Rs 0 (Free). ICICI Direct Demat Account AMC Charges is Rs 300 (from 2nd year) and Choice Broking Demat Account AMC Charges is Rs 200 or as per plan. (1st year AMC free).

  ICICI Direct Choice Broking
Trading Account Opening Charges Rs 0 Rs 0 (Free)
Trading Account AMC Charges Rs 0 Rs 0 (Free)
Demat Account Opening Charges Rs 0 Rs 0 (Free)
Demat Account AMC Charges Rs 300 (from 2nd year) Rs 200 or as per plan. (1st year AMC free)
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ICICI Direct Vs Choice Broking Brokerage Charges & Plans

ICICI Direct Vs Choice Broking Brokerage

ICICI Direct brokerage charges for equity is 0.55% and intraday is Rs 20 per order whereas Choice Broking brokerage charges for equity is 0.20% and intraday is 0.02%.

  ICICI Direct Choice Broking
Account Type ICICI Neo Plan Standard Plan
Fixed Charges NA
Equity Delivery 0.55% 0.20%
Equity Intraday Rs 20 per order 0.02%
Equity Futures Rs 0 (Free) 0.02%
Equity Options Rs 20 per order Rs 25 per lot
Currency Futures Rs 20 per order 0.02%
Currency Options Rs 20 per order Rs 20 per lot
Commodity Futures Rs 20 per order 0.02%
Commodity Options Rs 20 per order Rs 50 per lot
Special Offer
Special Offer: 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

ICICI Direct Vs Choice Broking Brokerage Plan 2

  ICICI Direct Choice Broking
Account Type 3-in-1 Account (I-Secure Plan) Standard Plan
Fixed Charges
Equity Delivery 0.55% 0.20%
Equity Intraday 0.275% 0.02%
Equity Futures 0.05% to 0.03% 0.02%
Equity Options Rs 95 to Rs 35 per lot Rs 25 per lot
Currency Futures 0.050% to 0.030% 0.02%
Currency Options Rs 25 to Rs 10 per lot Rs 20 per lot
Commodity Futures NA 0.02%
Commodity Options NA Rs 50 per lot
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ICICI Direct Vs Choice Broking Brokerage Plan 3

  ICICI Direct Choice Broking
Account Type I-Saver Plan Standard Plan
Fixed Charges
Equity Delivery 0.75% to 0.25% 0.20%
Equity Intraday 0.75% to 0.25% 0.02%
Equity Futures 0.05% to 0.03% 0.02%
Equity Options Rs 95 to Rs 65 per lot Rs 25 per lot
Currency Futures 0.05% to 0.03% 0.02%
Currency Options 0.25 to Rs 65 per lot Rs 20 per lot
Commodity Futures NA 0.02%
Commodity Options NA Rs 50 per lot
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ICICI Direct Charges Vs Choice Broking

Minimum Brokerage Rs 35 per trade
Other Charges Margin Trading Interest: 0.025% Per day
Call & Trade Charges Rs 25 per call after first 20 free calls per month Rs 0 (Free)
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ICICI Direct Vs Choice Broking Transaction Charges

ICICI Direct transaction charges for options is Rs 5000 per Cr (0.05%) (on premium) while Choice Broking exchange transaction charges for options is NSE Rs 5000 per crore (0.05%).

  ICICI Direct Choice Broking
Equity Delivery NSE Rs 310 per Cr (0.0031%) | BSE Rs 280 per Cr (0.0028%) (each side) NSE Rs 325 per crore (0.00325%) | BSE Flat Rate of Rs 1.51 per Trade
Equity Intraday NSE Rs 310 per Cr (0.0031%) | BSE Rs 280 per Cr (0.0028%) (each side) NSE Rs 325 per crore (0.00325%) | BSE Flat Rate of Rs 1.51 per Trade
Equity Futures Rs 180 per Cr (0.0018%) NSE Rs 240 per crore (0.0024%)
Equity Options Rs 5000 per Cr (0.05%) (on premium) NSE Rs 5000 per crore (0.05%)
Currency Futures Rs 120 per Cr (0.0012%) NSE Rs 90 per crore (0.0009%)
Currency Options Rs 5000 per Cr (0.05%) (on premium) NSE Rs 4000 per crore (0.04%)
Commodity NA Non-Agri Rs 290 per Crore (0.0029%) | Agri Rs 178 per Crore (0.00178%)
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ICICI Direct Vs Choice Broking Leverage (Margin)

ICICI Direct provides the margin of Upto 25x for intraday trades whereas the Choice Broking margin for intraday cash is Up to 20x.

  ICICI Direct Choice Broking
Equity Delivery 5x with Interest 1x (no margin)
Equity Intraday Upto 25x Up to 20x
Equity Futures 4x Up to 5x
Equity Options 2x for shorting 1x (no margin) for Options buying and up to 10x for options selling
Currency Futures NA Up to 3x
Currency Options NA 1x (no margin)
Commodity Futures NA Up to 5x
Commodity Options 1x (no margin)
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Compare ICICI Direct and Choice Broking Features

The trading platforms offered ICICI Direct include ICICIdirect.com (website), Trade Racer, ICICIDirect Mobile App. Choice Broking offers Jiffy trading software.

  ICICI Direct Choice Broking
3 in 1 Account Yes No
Charting Yes Yes
Automated Trading No No
SMS Alerts No Yes
Online Demo Yes Yes
Online Portfolio Yes Yes
Margin Trading Funding Yes Yes
Margin Against Shares (Equity Cash) Yes Yes
Margin Against Shares (Equity F&O) Yes Yes
Trading Platform ICICIdirect.com (website), Trade Racer, ICICIDirect Mobile App Jiffy
Intraday Square-off Time 3:30 PM 3:15 PM
Other Features Bullet Trading, Can trade in 32 exchanges through Saxo Trader
Referral Program Yes
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ICICI Direct Vs Choice Broking Review

ICICI Direct is rated 2.4 of 5 based on 441 customer reviews whereas Choice Broking is rated 4.0 of 5 based on 6 customer reviews.

  ICICI Direct Choice Broking
  441 Customer Reviews    Rate ICICI Direct 6 Customer Reviews    Rate Choice Broking
Fees 2.2 4.3
Brokerage 1.7 4.2
Trading Platform 3.4 4.3
Customer Service 2.7 3.8
Research Capabilities 2.9 4.0
Overall Ratings Rated 2.4 stars Rated 4.0 stars
Broker Rating ICICI Direct is rated 2.4 of 5 based on 441 customer reviews Choice Broking is rated 4.0 of 5 based on 6 customer reviews
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Contact Broker / Request A Call Back

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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

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ICICI Direct Vs Choice Broking Investment Options

  ICICI Direct Choice Broking
Stock / Equity Yes Yes
Commodity Yes Yes
Currency Yes Yes
IPO Yes Yes
Mutual Funds Yes Yes
Bond / NCD Yes Yes
Debt Yes No
Other Investment Options Equity, Derivatives, Currency, Mutual Funds, ETF, Insurance, FD/Bonds, Loans, Tax, ELocker, NPS Portfolio Management Services, Insurance
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ICICI Direct Vs Choice Broking Order Type Offered

  ICICI Direct Choice Broking
Bracket Order No No
Cover Order Yes No
Buy Today Sell Tomorrow (BTST) Yes Yes
Sell Today Buy Tomorrow (STBT) No Yes
After Market Order(AMO) No Yes
Good Till Cancelled (GTC) Yes Yes
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ICICI Direct Vs Choice Broking Research Report

  ICICI Direct Choice Broking
Daily Market Report Yes Yes
Free Tips Yes Yes
Quarterly Result Analysis Yes Yes
News Alerts Yes Yes
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ICICI Direct Vs Choice Broking Suitable For Investor Type

  ICICI Direct Choice Broking
Casual Investor Yes Yes
Active Investor Yes
Trader
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ICICI Direct Vs Choice Broking - Pros and Cons

  ICICI Direct Choice Broking
Pros
  • Offers 3-in-1 account which makes stock market investment very easy for casual investors.
  • Wide range of investment options available under one portal.
  • Provides a low bandwidth website which works well where internet connection is slow.
  • GTC (good till cancellation) and off-market hours order placement facility is very useful.
  • Zero Account opening fee.
  • Hassle free online Demat Account Opening.
  • Offers a wide range of investment products
  • Offers simple Trading Platforms to its customers.
  • Offers multiple AMC plan options with lifetime free AMC and refundable AMC options.
  • Free call and trade facility.
  • Provides Margin Trading Facility MTF Services.
  • Claim to have the most accurate and free research reports in the market with a 78% success ratio.
  • Offers online IPO application services.
Cons
  • ICICI Security charges highest brokerage in comparison to most of the retail brokers in India.
  • Very high 'minimum brokerage' of Rs 35 per trade or 2.5% of the trade value whichever is lower.
  • Poor performance of website is reported in peak hours of trading.
  • Trading Terminal (Trade Racer) cost Rs 75 per month if brokerage paid in a month is less then Rs 750.
  • Demat Account is mandatory.
  • Commodity trading is not available for retail investors.
  • Call & trade cost extra Rs 25 per call after first 20 free calls in a month.
  • Do not have Flexi brokerage plans.
  • Does not offer 3-in-1 account services.
  • Advanced order types like BO, CO, GTC not available.
  • Margin calculator not available.
Reviews

Choice Equity Broking Private Limited, commonly known as Choice Broking , is a Mumbai based full-service broker incorporated in 2010 offering online trading and premium financial services for an entire range of financial products like Equity, Derivatives, Currency, Commodities, Mutual Funds, Margin Trading Facility, wealth management, Portfolio management, Insurance, and Loan against share. The company offers 2-in-1 account opening services and has a depository membership with CDSL and NSDL and is a member of NSE, BSE, MCX, NCDEX, and ICEX. The company has a proprietary trading platform (Jiffy) available on the website, Android, and iOS.

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 (Intraday and F&O) 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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