ICICI Direct NRI Trading Account Review
ICICI Direct offers the most convenient way of handling stock market trading. The ICICI 3-in-1 account for NRI, which includes NRI saving Bank Account, NRI Trading Account, and NRI Demat Account, is the key offering for NRI investors. It provides an extremely simple and efficient way to invest in the stock market and other financial instruments via convenient– interlinked Demat, Savings, and Broking account, here Instead of transferring monies to a broker's pool or towards deposits, you can manage your own Demat and bank accounts when you trade through ICICIdirect.com.
As an NRI Investor if you open ICICI 3- in- 1 account, you would not need to worry about monitoring the settlement cycles, transfer funds from bank to trading account, etc. You can also access a wide variety of products such as equities, derivatives, mutual funds, IPOs, ETFs.
ICICI Direct NRI brokerage charges depend on the monthly trading volume of the customer and vary from 0.50% to 1.25% for Equity delivery trades, from 0.03% to 0.05% for Equity Futures trades and flat Rs 70 to Rs 95 for Equity Options trading.
ICICI Direct NRI Trading Account Advantage & Disadvantage
- 3-in-1 online trading account.
- Security of your investment & money.
- 24/7 customer service & dedicated relationship manager.
- Easy-to-use website.
- Derivatives trading, mutual funds, IPOs, and on-line life insurance.
- Offers AMO and GTC order facility.
- Very High brokerage..
- NRIs from the UK (United Kingdom) cannot invest in IPO and Mutual Fund through ICICIDirect.com.
- ICICI Bank doesn't offer online account opening to NRIs apart from customers from the US.
- High Minimum brokerage charges.
ICICI Direct NRI Account Opening & Account opening Charges
ICICI Direct NRI Demat & Trading Account Opening
As an NRI Investor you can Open An Account with ICICI Direct in three different ways :
Online Registration: The Online application involves 3 steps :
- On line form filling
- Print the completed form & follow the CHECKLIST for signatures, photographs & documents.
- Attach the required attested documents and send them to the following address:
- ICICI Securities Ltd,
NRI AOC DESK
ICICI Securities Ltd.
2nd Floor City Point,
Mumbai, Maharashtra– 400069
- ICICI Securities Ltd,
Walk Into ICICIdirect Super Store in India: You can walk into our nearest Branch in India and the officer would assist you in opening the account.
Walk Into Offices in Abroad: You can also hand over your completed Account Opening Form at the nearest ICICI Securities Center or ICICI Bank branch.
ICICI Direct NRI Account Opening Charges
E-invest Account Opening Charges - One-time account opening charges for Non-UK clients is Rs.4000/- and for UK client's is Rs. 6500/- which includes :
- Account opening and stamp duty charges for a trading account.
- Account opening and maintenance charges for Demat accounts for the first year.
- ICICI Bank charges for Portfolio Investment Scheme (PINS) for the first year.
ICICI Direct NRI Brokerage Charges
ICICI Direct offers two different-different plans for NRI customers, the first one where the brokerage charges vary according to preceding months trading turnover and the second one is a prepaid brokerage plan where you get discounted brokerage rates. more the prepaid value lesser would be the brokerage charges.
ICICI Direct NRI brokerage on Equity Delivery
In this plan, the brokerage charges depend on the monthly trading volume of the customer and vary from 0.50% to 1.25% for Equity delivery trades
|Total Eligible Turnover per month||Brokerage|
|Trades above Rs. 50 lacs||0.50%|
|Rs. 25 lacs to Rs. 50 lacs||0.75%|
|Rs. 10 lacs to Rs. 25 lacs||0.90%|
|Rs. 5 lacs to Rs. 10 lacs||1.00%|
|Up to Rs. 5 lacs||1.25%|
ICICI Direct NRI brokerage structure for Future & Options Trade
In this plan, the brokerage would also depend on the monthly trading volume of the customer and vary from 0.03% to 0.05% for Equity Futures trades and flat Rs 70 to Rs 95 for Equity Options trading.
ICICI Direct NRI brokerage for Future Trade
|Total Eligible Turnover per month||Brokerage Charges|
|Above Rs.20 Crores||0.03%|
|Rs.10 Crores to Rs.20 Crores||0.035%|
|Rs.5 Crores to Rs.10 Crores||0.04%|
|Less than Rs.5 Crores||0.05%|
ICICI Direct NRI brokerage for Options Trade
|Total Eligible Premium Value per month||Brokerage Charges|
|Above Rs.20 Lacs||Flat Rs 70 per Lot|
|Rs.10 Lacs to Rs.20 Lacs||Flat Rs 75 per Lot|
|Rs.5 Lacs to Rs.10 Lacs||Flat Rs 85 per Lot|
|Less than Rs.5 Lacs||Flat Rs 95 per Lot|
ICICI Direct NRI Pre-paid brokerage Plan
ICICI Direct also offers a low-cost NRI Prepaid Brokerage plan for NRI customers where you get discounted brokerage rates. more the prepaid value lesser would be the brokerage charges. Prepaid brokerage comes with a lifetime validity of 15 years. You can utilize the prepaid brokerage within a span of 15 years or till the time the eligible turnover is exhausted whichever is earlier. Please also note that the NRI Prepaid brokerage plan is applicable in Equity Delivery Segment only
|Prepaid Plan (Rs.)||Brokerage Charges|
|Rs 10000 + GST||0.75%|
|Rs 50000 + GST||0.50%|
|Rs 100000 + GST||0.35%|
|Rs 200000 + GST||0.30%|
|Rs 300000 + GST||0.20%|
ICICI Direct NRI Mutual Fund
ICICI Direct provides Online and paperless investment facility in mutual funds as well for NRI investors
Key Facts about ICICIDirect NRI Mutual Fund
- You would need 3 in 1 account facility for investment in mutual funds as well.
- Investment in mutual funds is very convenient and does not need any paperwork or filling of application forms for buying and selling for ICICI Direct NRI customers.
- Your bank funds are automatically debited or credited while simultaneously crediting or debiting your unit holdings in your demat account.
- ICICI direct provides Online order confirmations and order status tracking.
- You can get to know the performance of your investments through online updation of MF portfolio with current NAV
ICICI Direct NRI Online IPO Investment
ICICI Direct provides Online and paperless investment facility in IPOs as well for NRI investors
Key Facts about ICICIDirect NRI Online IPO Investment
- You would need 3 in 1 account facility for investment in IPO.
- Investment in IPO is very convenient and does not need any paperwork or filling of application forms for buying and selling for ICICI Direct NRI customers.
- Your bank funds are automatically debited and an application made on your behalf.
- In the case of investments from the NRE account, the debit certificate is also submitted automatically. Where such investments are subsequently sold online, the proof of debt from the NRE account is also not required to be submitted separately for repatriation of sale proceeds.
- You would Get in-depth analyses of new IPOs issues that are about to hit the market.
- IPO calendar, recent IPO listings, prospectus/offer documents, and IPO analysis are a few of the features, which help you while making the investment decision IPO markets.
ICICI Direct NRI Customer Care: ICICI Direct NRI Desk contact number
- ICICI Direct NRI Customer Care Number: +91-22-28307780
- ICICI Direct NRI Customer Care Email ID: [email protected]
Final Thought about ICICI Direct NRI Services
ICICI Direct is Highly recommended, convenient and popular among the NRI investors who want to invest in the Indian stock market and mutual funds. the only disadvantage is very high brokerage charges vs its peers.