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ICICI Direct: A Detailed Review

ICICI Bank Ltd was established in 1994 by the Industrial Credit and Investment Corporation of India (ICICI) which is a financial institution. It is a multinational banking and financial services company headquartered in Mumbai. ICICI Bank provides a whole host of services to its large array of clients with institutional and retail broking, merchant banking, and advisory services to corporates, financial institutions, high net-worth individuals, and retail investors in India. It operates in 3 major segments namely Investment & Trading, Broking & Commission and Advisory services.

One of its flagship offerings on the retail trading side is ICICI Direct due to which it became one of the largest retail broking firms in India by providing a wide range of products and services to its retail and institutional customers. ICICI Direct.com is the flagship website of the company where you can find a whole host of products and services like Equity Trading, Derivatives trading , Mutual funds, Home Loans, Loans against Securities, Insurance, Bonds, NCDs etc.

Why ICICI Direct?

3-in-1 Account- ICICI provides a unique 3-in-1 account which is combination of its Bank account, trading account and Demat account all in one place. This helps customers to trade securities with the ease of transferring money conveniently at the click of a button. This is one of the unique features of a stock broking company that can leverage its banking parent company.

In addition to share trading in NSE and BSE they also provide their customers with innovative product offerings like Margin, Margin Plus , BTST, SPOT, Overseas trading, Online Life Insurance.

This site also allows you trade in areas with low bandwidth and if you are struggling with your network connection you can also use the Call n Trade facility. For investors new to the market ICICI also provides advisory service where you are guided from trade placement to execution.

The broking firm also provides research reports to its clients to assist on them choosing trades. You can also track your portfolio and create watchlists which also provides SMS alerts.

ICICI Direct also provides its customers with knowledge programs on various financial products like derivatives, stocks, mutual funds etc. so that they can make informed investment decisions.

They also provide specialized research reports and dedicated relationship managers for traders who like to trade full time in the market. Lastly their high performance terminal application Trade Racer is specifically meant for active day traders.

ICICI Trading Platforms

ICICI offers technologically advanced trading platforms for their large customer base across all platforms. Here is a detailed view of these applications:

ICICI Trade Racer

Trade Racer is a easily installable software for your desktop using which you can use to trade at will from the comfort of your home. This trading platform provides you with Live streaming quotes, research calls and integrated fund transfer system. Using trade racer one can check the market depth, Bulk Block deals, corporate announcements, stock charts, moving averages used to perform technical analysis, access to Global Indices. Here are some of the features of this application:

  • View the latest market trends i.e bullish or bearish using the Trend Scanner tool.
  • Track the New highs and Lows of the stock market by tracking the price movement of stocks using the Live Scanner tool.
  • Get a fully Customised Grid layout with personalised color combinations and a trendy look and feel

Note: Clients who generate a higher brokerage to the firm have free access to this software, however those who don’t generate necessary levels of brokerage have to pay subscription cost of Rs 75 per month to use this application.

ICICI Trade Racer Web

Trade Racer Web is the browser based version of trade racer application which can be accessed from anywhere for the purpose of buying and selling stock on BSE and NSE. This application allows Cash Trading, Margin & Margin Plus trading, Buy Today Sell Tomorrow, Derivatives trading etc. Some of the key features are as follows:

Note: Clients who generate a higher brokerage to the firm have free access to this software, however those who don’t generate necessary levels of brokerage have to pay subscription cost of Rs 75 per month to use this application.

ICICI Trade Racer Web

Trade Racer Web is the browser based version of trade racer application which can be accessed from anywhere for the purpose of buying and selling stock on BSE and NSE. This application allows Cash Trading, Margin & Margin Plus trading, Buy Today Sell Tomorrow, Derivatives trading etc. Some of the key features are as follows:

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Wednesday, 18 September 2019

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