Feedback Message Board

The reason for coming up with new Brokerage plan is due to stiff competion amoung brokerage houses and ICICI securities loosing its market share due to high brokerage. If one looks at flat brokerage rate offered by other brokerage houses even 0.55% flat brokerage offered by ICICI direct is still on the higher side. Well on tiered rate plan ...I-Saver (Slabwise brokerage based on transaction volume/Turnover) one needs to clearly understand the underlying facts very clearly which are overlooked by most of the people. In this plan ICICI direct has smartly created a slab wise brokerage plan which depends on your turnover of the transaction volument within one quarter. But on the transaction which are being done in that quarter it always charges you brokerage as per highest brokerage slab(0.75%) even for a single day transactions even if it fits in the lower brokerage slab(say 0.55%). By doing this ICICI direct is not only enjoying on the excess brokerage that they are charging their customer(for no reason) but also not paying any interest on the excess amount charged for the said period. Well, therefore be careful in case you are dealing with ICICI direct as they are still charging you higher brokerage upfront in I-Saver Brokerage plan.