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ICICIdirect Vs Choice Broking (Compare ICICIdirect and Choice Broking)

ICICI Securities Pvt Ltd. Logo

About ICICIdirect
ICICIdirect 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. ICICIdirect's most popular service is its 3-in-1 account, which includes ICICI Bank Account, ICICI Tr... Know more about ICICI Securities Pvt Ltd.

Choice Equity Broking Private Limited Logo

About 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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ICICIdirect Vs Choice Broking

Incorporated in 2000, ICICIdirect 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.

  ICICIdirect Choice Broking
Type of Broker Full Service Broker Full Service Broker
Exchnage Membership BSE, NSE BSE, NSE, MCX, NCDEX, ICDEX
Year of Incorporation 2000 2010
Number of Branches 154 50
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ICICIdirect Vs Choice Broking Charges & AMC

ICICIdirect trading account opening charges is Rs 0 (Free) while Choice Broking account opening changes is Rs 0 (Free). ICICIdirect 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).

  ICICIdirect Choice Broking
Trading Account Opening Charges Rs 0 (Free) Rs 0 (Free)
Trading Account AMC Charges Rs 0 (Free) Rs 0 (Free)
Demat Account Opening Charges Rs 0 (Free) 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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ICICIdirect Vs Choice Broking Brokerage

ICICIdirect 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%.

Account Type ICICIdirect ICICI Neo Plan Choice Broking 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

ICICIdirect Vs Choice Broking Brokerage Plan 2

  ICICIdirect Choice Broking
Account Type I-Secure Plan Standard Plan
Fixed Charges NA
Equity Delivery 0.55% 0.20%
Equity Intraday 0.275% 0.02%
Equity Futures 0.05% 0.02%
Equity Options Rs 95 per lot 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
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ICICIdirect Charges Vs Choice Broking

Minimum Brokerage Rs 35 per trade (I-Secure Plan)
Other Charges Margin Trading Interest: 0.025% Per day
Call & Trade Charges Rs 50 per trade Rs 0 (Free)

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ICICIdirect Vs Choice Broking Transaction Charges

ICICIdirect 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%).

  ICICIdirect 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 Group A - Rs 260 per Cr (0.0026%) Non-Agri Rs 290 per Crore (0.0029%) | Agri Rs 178 per Crore (0.00178%)
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ICICIdirect Vs Choice Broking Leverage (Margin)

ICICIdirect margin for intraday trading is up to 20% of the trade value (5x leverage) based on the stock whereas the Choice Broking margin for intraday cash is also up to 20% of the trade value (5x leverage) based on the stock.

  ICICIdirect Choice Broking
Equity Delivery 100% of trade value (1x leverage) 100% of trade value (1x leverage)
Equity Intraday Up to 20% of trade value (5x leverage) Up to 20% of trade value (5x leverage)
F&O (Eq, Curr, Comm) 100% of NRML margin (Span + Exposure) (1x leverage) 100% of NRML margin (Span + Exposure) (1x leverage)
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Compare ICICIdirect and Choice Broking Features

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

  ICICIdirect 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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ICICIdirect Vs Choice Broking Review

ICICIdirect is rated 2.4 of 5 based on 460 customer reviews whereas Choice Broking is rated 3.6 of 5 based on 10 customer reviews.

  ICICIdirect Choice Broking
  460 Customer Reviews    Rate ICICIdirect 10 Customer Reviews    Rate Choice Broking
Fees 2.2 4.3
Brokerage 1.7 3.6
Trading Platform 3.3 3.7
Customer Service 2.7 3.5
Research Capabilities 2.9 3.6
Overall Ratings Rated 2.4 stars Rated 3.6 stars
Broker Rating ICICIdirect is rated 2.4 of 5 based on 460 customer reviews Choice Broking is rated 3.6 of 5 based on 10 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 Investment Options

  ICICIdirect 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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ICICIdirect Vs Choice Broking Order Type Offered

  ICICIdirect 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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ICICIdirect Vs Choice Broking Research Report

  ICICIdirect Choice Broking
Daily Market Report Yes Yes
Free Tips Yes Yes
Quarterly Result Analysis Yes Yes
News Alerts Yes Yes

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ICICIdirect Vs Choice Broking Suitable For Investor Type

  ICICIdirect Choice Broking
Casual Investor Yes Yes
Active Investor Yes
Trader

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ICICIdirect Vs Choice Broking - Pros and Cons

  ICICIdirect 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.
  • Call & trade cost extra Rs 50 per trade in Neo/Prime Plans.
  • 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 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

Interested in opening a trading account? Open Instant Account Now

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