1. Flash Trade was built for Scalping but the trade execution is very very slow. You click to Buy@100 and the system will buy@ around 105-106 which is almost near to my target, so when will i exit the trade? After any trade is executed in the Flash Trade screen, it most of the times populates the "Entry" and "Stop Loss" lines on the chart too late because of which it becomes difficult for to know at which price the trade has been executed and where the Stop Loss is. By the time it populates, most of the time the price reverses from the "Target" and you end up with very minimum profit or with a Loss.
2. Frequent logout with "Invalid User: The Login ID entered is not valid" error. Imagine you entered a trade and you're logged out by the system in between your scalp trade..
3. Chart Template saving feature is temporary. If you close your browser or shutdown your PC/Laptop then, you need to sit and configure the chart templates again for Flash Trades, Watchlist Charts, wherever you open the charts, you need to setup and configure Templates again and again which is a real pain..
4. Algos doesn't run as they are designed for. It doesn't square off your trades at the time you have specified it to end the Algos. Just imagine that you think that the trade was squared off and later you get to know that the trade was still in open position and that too without a Stoploss??
5. Too many side effects in the platform, You can't chart in Flash Trade Window as it doesn't list them to select. Your potential trade will be on hold and you will miss out taking the trades.
6. Many of the times the chart doesn't update the price which ever timeframe you select. Most of the times, Stock Option Charts doesn't show charts and throws error "Study Error: Failed to fetch"
7. Adding any script to watchlist gives the error "LIBFML_CAT:13: Error: Invalid argument to function"
8. The POSITIONS tab (Located at the right side of the window at the bottom) under the Watchlist page doesn't populate the positions of my trades and its real time P&L values. No matter how many times you logoff and login
9. Freezing of Charts in both Flash Trade Window and Watchlist Chart Window is very very common.
10. ICICIDirect's mobile app again is a total Mess. The charts there doesn't work at all. You turn on app in your mobile @ 1pm and the charts of 1Min Time Frame will start loading from that very moment of the day adding from 9:15am candle till 1pm in a single candle. Because of this, the indicators plotted in the charts also show false results.
11. The concepts about which they talk is no doubt very good but, the execution and it's speed is horrible. You can't achieve what this platform was built for at any cost. Not sure about it in future if they work and fix on them.
12. They don't have "Dark Mode" in their ICICIDirect Web platform. In Mobile Platform they do have it and the interface in very promising but its just a piece of crap until it works as it was built for.
There are many more such small small issues that affects normal trading using this Platform. Sorry to say but, their Customer Care is not bothered to fix or work on these serious issues. I am following them with these complaint since September 2023 and till date none of the issues has been resolved from their end. I now accept my defeat and am moving on to some other broker now.
Link to view proof:
https://www.=j02ue98uwe11hxqql4oivf3wl&dl=0
Ratings:
Brokerage - Very Poor
Account Maintenance Fees - Average
Website Usability - Very Poor
Research Capabilities - Very Poor
Customer Service - Very Poor
Overall Experience - Very Poor
FAQs
Brokerage in Margin & Margin Plus
GST will be charged at 18% on total value of brokerage. Securities Transaction Tax (STT) at 0.025% on turnover(Sell transactions only) SEBI turnover charges at 0.0001% on turnover.
How to reduce brokerage charges in ICICIdirect? ›
Experience the revolutionary ICICIdirect Prime Membership Plan that gives you.
- More than 50% Brokerage reduction across all products.
- Instant payout for your stocks sold (eATM)
- Buy stocks and pay later at just 9.69% p.a.
ICICIdirect Account Opening Charges and AMC
| Transaction | Charges |
|---|
| Account Opening Charges | Rs 0 (Free) |
| Demat Account Annual Maintenance Charges AMC | Rs 300 per year |
| Demat Debit Transaction Charges (Sell Orders) | Rs 20 per transaction |
| Call & Trade Charges | Rs 50 per order |
Transaction Charges
| Charges | Equity Delivery | Margin |
|---|
| Brokerage | 0.55% irrespective of turnover | Transactions up to Rs 50,000- Rs 25 or 2.5% whichever is lower Exceeding Rs 50,000- 0.05% |
| Other leg of Intraday square off | Nil | NA |
| Call and Trade | First 20 calls per month - Free |
| GST | 18% on total value of brokerage |
3 more rowsInvestors can borrow up to 50% of the value of equities in a margin account held at a stock brokerage and will pay interest charges for the privilege of doing so. Interest charges vary by broker but are typically a function of prevailing interest rates and the loan term.
Is margin charged daily? ›
Accounts on margin are assessed interest daily (including on weekends and holidays) and charged monthly (mid-month). In the example below, the account has a negative settled cash balance of $3,477.68 to hold its stock position on margin, but the same can occur after a cash sweep.
How to claim free brokerage in ICICIdirect? ›
Bonus brokerage will be added within T+2 days after account opening. Validity of the free brokerage only up to 6 months. Account opening cheque amount can be completely withdrawn by customer at anytime. Bonus Brokerage Card is subject to successful clearance of Account Opening cheque within 15 days of Account opening.
How do I avoid brokerage fees? ›
Investors can reduce account maintenance fees by comparing brokers, their provided services, and their fees. Buying no-load mutual funds or fee-free investments can help avoid per-trade fees. It is important to read the fine print or fee schedule and ask questions about any fees charged.
Which is the lowest brokerage charge for a Demat account? ›
The lowest brokerage charge is 0.01%. On the other hand, in the case of flat fee brokerage, the brokers charge a flat fee on each trade, ranging between Rs 10- Rs 100 for each trade.
What are the demat charges for Icici 2024? ›
ICICI direct offers a free Demat account for holding securities. And along with it the 1st year AMC of Demat charges are also free. After that Rs 300 per annum will be charged as the Demat AMC.
No forgery risk: Other than the easy and convenient holding of shares, ICICI Demat account eliminates the risk of theft, forgery, loss and damage of physical certificates.
Is ICICI Direct good for trading? ›
Based on common features such as account charges, AMC, brokerage charges, margin, trading platforms, and customer service, Zerodha is a better choice for retail investors than ICICIdirect. ICICI Direct is a good option if you need handholding in your stock investments and don't mind paying high brokerage.
What are the hidden charges in ICICI Direct? ›
what you mean by hidden charges their is no hidden charges on Icici Direct account. if you buy or sell stock you will get a contract note. in that saying which stock you buy, rate, exchange, and brokerage, GST and all information there.
How can I reduce brokerage charges in ICICI Direct? ›
The brokerage reduces as you move to a higher prepaid plan. ICICI Direct Prime Plan offers an eATM facility with reduced brokerage charges for a fixed yearly fee of Rs 900, Rs 4500 or Rs 9500. The brokerage in Rs 900 Prime Plan is 0.25% in cash, 0.025% in intra-day and future and Rs 35 per lot for options.
Which broker has the lowest brokerage? ›
Examples of brokers with Lowest brokerage charges in India include Zerodha, Angel One & Kotak Securities . These platforms often appeal to traders and investors seeking cost-effective options with transparent fee structures, providing a variety of financial instruments at competitive rates.
What is a margin charge? ›
The money that the investor borrows is referred to as the margin. The margin rate is how much the broker charges to borrow that money.
What do margin fees mean? ›
Margin fees are charged based on the total value of the amount that is extended as margin to effect the margin trade. Collateral also held in the account is not deducted from that amount.
What is the margin interest fee? ›
Margin interest is the interest that is due on loans made between you and your broker concerning your portfolio's assets. For instance, if you short sell a stock, you must first borrow it on margin and then sell it to a buyer.
What does margin mean in charge? ›
Margin is defined as the difference between the amount of money borrowed from the brokerage firm and the total worth of the securities being held by an investor in his or her investment account. The act of buying securities on margin is a common practice these days.
