ICICI Direct and Zerodha are both accounts I have used. I had an ICICI Direct Demat account until I realized they charged a high brokerage fee. To save on brokerage, I opened an account with Zerodha. I also closed my ICICI Direct account last year.
To be honest, we can't compare ICICI Direct and Zerodha on the same basis. Research advisory services are provided by ICICI Direct, a full-service broker. To provide the services, ICICI Direct charges a higher brokerage fee.
In contrast, Zerodha provides only the trading platform to trade or invest in stocks. As Zerodha does not provide stock investment tips, research, or Robo advisory services, it charges you a discounted brokerage fee.
AMC, brokerage fee, customer support, and trading platforms can be compared between Zerodha and ICICI Direct.
Zerodha vs ICICI Direct Comparison
#1. Account Opening Charges
ICICI Direct offers a free Demat & trading account whereas Zerodha charges Rs. 200 for account opening. If you want to open a commodity trading account with Zerodha, you need to pay Rs. 100 more. Commodity trading is optional in Zerodha.
Account Opening Charges
- ICICI Direct : Zero (Free)Rs 200 (equity only)
- Zerodha : Rs 300 (with commodity account)
#2. Account Annual Maintenance Charges (AMC)
ICICI Direct charges Rs 700 for its annual maintenance fee, while Zerodha charges Rs 300.
Trading AMC Fee
- ICICI Direct : Zero
- Zerodha : Zero
Demat AMC Fee
- Zerodha : Zero
- ICICI Direct : Rs. 700 (waived for ICICIdirect customers for the first year) Rs. 300 for ICICIdirect Neo customers from the first year onwards
#3 ICICIdirect Vs Zerodha Brokerage
ICICIDirect
- Equity Delivery: 0.55%
- Equity Intraday : Flat Rs. 20 per order
- Equity Futures : Free (Rs. 0 brokerage)
- Equity Options : Flat Rs. 20 per order
- Currency Futures : Flat Rs. 20 per order
- Currency Options : Flat Rs. 20 per order
- Commodity Trading : Flat Rs. 20 per order
- Minimum Brokerage : Rs 35 per trade
- Hidden Charges : Yes
- FundingYes - 18% interest PA
- Call & Trade Charges : First 20 call free and Rs 25 there onwards.
- Auto Square off Charges : First 20 call free and Rs 25 there onwards.
Zerodha
- Equity Delivery: Free
- Equity Intraday : 0.03% or Rs 20 whichever is lower
- Equity Futures : 0.03% or Rs 20 whichever is lower
- Equity Options : Flat Fee Rs 20
- Currency Futures : 0.03% or Rs 20 whichever is lower
- Currency Options : Flat Fee Rs 20
- Commodity Trading : Flat Fee Rs 20
- Minimum Brokerage : NIL
- Hidden Charges : No
- FundingYes - Info Not Available
- Call & Trade Charges : Rs 50 Per Executable Order
- Auto Square off Charges : Rs 50 Per Executable Order
#4. ICICIDirect vs Zerodha on Transaction Charges
Compare ICICIDirect with Zerodha on transaction charges and PCM fee by segment.
ICICIDirect
- Equity Delivery : NSE:335 Per Cr | BSE:375 Per Cr
- Equity Intraday : NSE:335 Per Cr | BSE:375 Per Cr
- Equity Futures : NSE:200 Per Cr | BSE:FREE
- Equity Options : NSE:5050 Per Cr | BSE:3700 Per Cr
- Currency Futures : NSE:90 Per Cr | BSE:25 Per Cr
- Currency Options : NSE:4000 Per Cr | BSE:100 Per Cr
- Commodity : NA
Zerodha
- Equity Delivery : NSE:335 Per Cr | BSE:375 Per Cr
- Equity Intraday : NSE:335 Per Cr | BSE:375 Per Cr
- Equity Futures : NSE:200 Per Cr | BSE:FREE
- Equity Options : NSE:5050 Per Cr | BSE:3700 Per Cr
- Currency Futures : NSE:90 Per Cr | BSE:25 Per Cr
- Currency Options : NSE:4000 Per Cr | BSE:100 Per Cr
- Commodity : Non-Agri: Rs 360 Per Cr | Agri: Rs 275 Per Cr
Zerodha Vs ICICI Direct Trading Platforms
Customers of Zerodha have access to a variety of trading platforms.
- Invest in stocks with Kite, a web-based trading platform
- Android/iOS trading app Kite Mobile
- Invest in mutual funds or bonds with Coin or Coin app
- Back-office platform - Console
- Live market price alerts with Sentinel
A mobile app is not available for investing in IPOs on Zerodha.
ICICI Direct provides three online trading platforms to its customers
- Mobile trading app for ICICI Direct
- Platform based on the Web - Trade Racer Web
- Trade Racer - Desktop trading software from ICICIdirect
ICICI Direct vs Zerodha: Which is better?
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.
