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ICICI Direct vs INDmoney (Compare ICICI Direct and INDmoney)

So many brokers are offering stock trading & Demat services in India, which one is best, which one provides the services at the lowest price, provides best mobile trading application, the best research team, etc. All answers to your questions would be available here.

Here we provide side by side comparison between ICICI Direct vs INDmoney, Below comparison of ICICI Direct vs INDmoney highlights the variations of Brokerage charges & services offered, Compare their ratings, brokerage & AMC charges, Investment choices, Customer Service, Demat Account, features, Platforms, and running offers.

One on One comparison of ICICI Direct vs INDmoney is given below:

ICICI Direct

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INDmoney

	ICICI Direct	INDmoney

About The Brokers

ICICI Direct :

"ICICIdirect.com, an award winning, pioneering online broking platform, The platform not only offers convenient ways to invest in Equity, Derivatives, Currency Futur >>> more

INDmoney :

INDmoney is not competing primarily as a discount broker — it is competing as a financial super-app. For investors who want Indian stocks >>> more

Find More Information about the Broker :

ICICI Direct :

OVERVIEW BROKERAGE PRODUCTS & SERVICES TRADING PLATFORM & TOOLS RATING

INDmoney :

OVERVIEW

Type of Broker

ICICI Direct :

Full Service Broker

INDmoney :

Discount Broker

Promo/offers

ICICI Direct :

N/A

INDmoney :

N/A

Advantage

ICICI Direct :

✔ What ICICI Direct Does Well

✓	3-in-1 account — bank + trading + demat seamlessly integrated with ICICI Bank
✓	Institutional trust — ICICI Bank subsidiary since 1995; 30+ year operating history
✓	SEBI RA research team — 50+ analysts, sector coverage, stock recommendations
✓	NRI 3-in-1 account (NRE + NRO, PIS + non-PIS) — fully integrated NRI banking
✓	eATM — sale proceeds in 5–30 minutes to trading account
✓	iValue plan: ₹20/order intraday + F&O at just ₹299 one-time
✓	50+ products: equity, F&O, MF, IPO, bonds, NCDs, FD, insurance, NPS, home loans
✓	Branch support across 87+ ICICI Bank locations
✓	Trade Racer professional terminal for advanced traders
✓	VTC orders valid for 45 days
✓	Both NSDL and CDSL DP options
✓	19.5 lakh active clients — proven at massive scale

INDmoney :

✔ What INDmoney Does Well

✓	9,000+ US stocks from one Indian app — largest US stock coverage
✓	Fractional US stock investing from just $1
✓	US stock SIPs — unique automated US investing from India
✓	₹0 AMC + ₹0 account opening
✓	True super-app: Indian stocks + US stocks + 1600+ MF + FD + NPS + insurance
✓	Net worth tracker aggregating all financial accounts
✓	Family accounts — manage spouse/parents accounts in one dashboard
✓	Tax calculator integrated in-app
✓	SIPC protection on US stocks up to $500,000
✓	MTF 4x at 0.04%/day — competitive rate

Disadvantage

ICICI Direct :

✘ Where ICICI Direct Falls Short

✗	Default plan 0.29% delivery brokerage is expensive — ₹580 on ₹1L trade vs ₹0 at discount brokers
✗	AMC ₹700/year — highest among all brokers reviewed on CSB
✗	DP charge ₹20+GST per ISIN — same as Groww, Angel One; higher than Zerodha (₹15.34)
✗	Call & Trade ₹50/order — expensive
✗	MTF interest 17.99% p.a. — among the highest; mStock at 6.99%–14.99% is significantly cheaper
✗	3-in-1 account requires ICICI Bank account for full benefit — non-ICICI bank users get only 2-in-1
✗	Account closure not possible online — physical form submission required
✗	Platform innovation slower than app-first brokers like Dhan or Groww
✗	eATM proceeds go to trading account only — not bank account

INDmoney :

✘ Where INDmoney Falls Short

✗	DP charge ₹18.5+GST — highest among reviewed brokers; impacts regular delivery sellers
✗	Indian F&O brokerage ₹20 — same as standard, no differentiation
✗	No commodity (MCX) trading
✗	No currency (forex) derivatives
✗	No NRI accounts
✗	Customer support reported as slow — 2-3 day email response times
✗	US stock forex conversion 0.5%–1.2% from bank — not INDmoney's charge, but a real cost
✗	No advanced F&O tools vs Dhan/Zerodha
✗	US stock repatriation takes 3–7 business days

Why This

ICICI Direct :

A Unique 3-in-1 On-line Trading Account, which includes ICICI Bank Account, ICICI Trading Account and ICICI Demat Account, is the key offering for retail stock market investors in India.
Security: 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. It provides you the flexibility to pay only when you trade.
Largest Equity E-Broking House with >40 Lac customers.
Share trading in both NSE and BSE, innovative offerings like - Margin, MarginPlus, BTST, SPOT, Derivatives trading, overseas trading, mutual funds, IPOs and on-line life insurance.
Call-n-Trade: you can place orders securely over the telephone with the Call N Trade service.
Award Winning Research

INDmoney :

Open Account

ICICI Direct vs INDmoney Account Opening & AMC Charges

ICICI Direct Trading Account Opening Fee is Rs 0 (Free) and - . ICICI Direct Demat Account AMC is Rs 700 and - .

	ICICI Direct	INDmoney
Trading Account Opening Fee	Trading Account Opening Fee : Rs 0 (Free)	Trading Account Opening Fee : -
Demat Account Opening Fee	Demat Account Opening Fee : Rs 0 (Free)	Demat Account Opening Fee : -
Demat Account AMC	Demat Account AMC : Rs 700	Demat Account AMC : -
Trading Account AMC	Trading Account AMC : Rs 0 (Free)	Trading Account AMC : -

ICICI Direct vs INDmoney Brokerage Charges

ICICI Direct Brokerage Charges Equity Delivery is 0.29% (buy + sell) and Equity Intraday is 0.029% per side and Equity Options is ₹49 per lot . INDmoney Brokerage Charges

	ICICI Direct		INDmoney
Plan Name	Plan Name : ICICI Direct Money Saver Plan	Plan Name : ICICIDirect iValue Plan	-
Equity Delivery	Equity Delivery : 0.29% (buy + sell)	Equity Delivery : 0.29% (buy + sell)	-
Equity Intraday	Equity Intraday : 0.029% per side	Equity Intraday : ₹20/order flat	-
Equity Future	Equity Future : 0.029% per side	Equity Future : ₹20/order flat	-
Equity Options	Equity Options : ₹49 per lot	Equity Options : ₹20/order flat	-
Currency Futures	Currency Futures : ₹20 flat	Currency Futures : ₹20/order flat	-
Currency Options	Currency Options : ₹20 flat	Currency Options : ₹20/order flat	-
Monthly Fee	Monthly Fee : NA	Monthly Fee : ₹299 one-time, lifetime	-
Margin Trading	Margin Trading : 0.05% - 0.03%	Margin Trading : 0.05% - 0.03%	-
Commodity Futures	Commodity Futures : ₹20 flat	Commodity Futures : ₹20/order flat	-
Commodity Options	Commodity Options : ₹20 flat	Commodity Options : ₹20/order flat	-

ICICI Direct vs INDmoney Exchange Transaction Charges

ICICI Direct Exchange Transaction Charges Equity Future is NSE Rs 190 per Cr (0.0019%) | BSE Rs 0 and Equity Options is NSE Rs 5000 per Cr (0.05%) | BSE Rs 3700 per Cr (0.037%) (on premium) . INDmoney Exchange Transaction Charges - and - .

	ICICI Direct	INDmoney
Equity Delivery	Equity Delivery : NSE Rs 325 per Cr (0.00325%) \| BSE Rs 375 per Cr (0.00375%) (each side)	Equity Delivery : -
Equity Intraday	Equity Intraday : NSE Rs 325 per Cr (0.00325%) \| BSE Rs 375 per Cr (0.00375%) (sell side)	Equity Intraday : -
Equity Future *	Equity Future : NSE Rs 190 per Cr (0.0019%) \| BSE Rs 0	Equity Future : -
Equity Options *	Equity Options : NSE Rs 5000 per Cr (0.05%) \| BSE Rs 3700 per Cr (0.037%) (on premium)	Equity Options : -
Currency Futures *	Currency Futures : NSE Rs 90 per Cr (0.0009%) \| BSE Rs 90 per Cr (0.0009%)	Currency Futures : -
Currency Options	Currency Options : NSE Rs 4000 per Cr (0.04%) \| BSE Rs 100 per Cr (0.001%) (on premium)	Currency Options : -
Commodity	Commodity : Group A - Rs 260 per Cr (0.0026%)	Commodity : -

ICICI Direct vs INDmoney Other Charges

ICICI Direct Minimum Brokerage is Rs 35 per trade (I-Secure Plan) and Call & Trade is Rs 50 per trade . INDmoney and .

	ICICI Direct	INDmoney
Minimum Brokerage	Minimum Brokerage : Rs 35 per trade (I-Secure Plan)	Minimum Brokerage : -
Call & Trade	Call & Trade : Rs 50 per trade	Call & Trade : -
Stamp Duty *	Stamp Duty : -	Stamp Duty : -
DP Charges (on sell side)	DP Charges (on sell side) : -	DP Charges (on sell side) : -
Other Miscellaneous Charges	Other Miscellaneous Charges : Margin Trading Interest: 0.025% Per day	Other Miscellaneous Charges : -

ICICI Direct vs INDmoney Features

ICICI Direct and INDmoney both offer a host of features, trading tools & platforms to their clients. Their comparative analysis is in the below table:

	ICICI Direct	INDmoney
Trading Platform	Trading Platform : ICICIdirect.com (website), Trade Racer, ICICIDirect Mobile App	Trading Platform : -
Placing orders through charts	Placing orders through charts : -	Placing orders through charts : -
Trading Alerts	Trading Alerts : -	Trading Alerts : -
Research and Advice / Trading Tips	Research and Advice / Trading Tips : -	Research and Advice / Trading Tips : -
Detailed Education Initiatives	Detailed Education Initiatives : -	Detailed Education Initiatives : -
Unique features & Offers	Unique features & Offers : Offer 3-in-1 Account. Support in local ICICI Bank branches. Trusted brand.	Unique features & Offers : -
Referral Program	Referral Program : -	Referral Program : -
Margin Against Shares (Equity Cash) *	Margin Against Shares (Equity Cash) : Yes	Margin Against Shares (Equity Cash) : Yes
Margin Against Shares (Equity F&O) *	Margin Against Shares (Equity F&O) : Yes	Margin Against Shares (Equity F&O) : Yes

ICICI Direct vs INDmoney Demat Account Charges

A comparative table of various demat account charges between ICICI Direct and INDmoney is below:

	ICICI Direct	INDmoney
Depository Service Provider	Depository Service Provider : NSDL	Depository Service Provider : -
Account Opening Fee	Account Opening Fee : Stamp Duty at actuals	Account Opening Fee : -
Advance Deposit	Advance Deposit : ₹0 for ICICI Bank customers. ₹7500 for Non ICICI BANK customers.	Advance Deposit : -
AMC	AMC : For Individual account: ₹700 p.a. For Corporate account: ₹1500 p.a.	AMC : -
Dematerialisation Charges	Dematerialisation Charges : ₹50 Per Demat Request Form and ₹10 For Each Certificates	Dematerialisation Charges : -
Rematerialisation Charges	Rematerialisation Charges : ₹25 + CDSL charges at actual	Rematerialisation Charges : -
Transaction Charges (Credit)	Transaction Charges (Credit) : -	Transaction Charges (Credit) : -
Transaction Charges (debit)	Transaction Charges (debit) : Trades done at www.icicidirect.com - Rs 0 (NIL) Instruction submitted through Internet (E-inst / IVR) - 0.04% of value of securities(Min. Rs 30 and Max Rs 25,000) Instruction submitted through Call Centre - 0.04% of value of securities(Min. Rs 35 and Max Rs 25,000) Instruction submitted at Branches - 0.04% of value of securities(Min. Rs 40 and Max Rs 25,000)	Transaction Charges (debit) : -
Pledge Creation Charges	Pledge Creation Charges : 0.02% or minimum of ₹35	Pledge Creation Charges : -
Pledge Creation Confirmation Charges	Pledge Creation Confirmation Charges : 0.02% or minimum of ₹35	Pledge Creation Confirmation Charges : -
Pledge Invocation Charges	Pledge Invocation Charges : 0.02% or minimum of ₹35	Pledge Invocation Charges : -
Failed Instruction Charges	Failed Instruction Charges : -	Failed Instruction Charges : -
Other Charges	Other Charges : ₹200 for restoring services if account is suspended for non payment of charges.	Other Charges : -

ICICI Direct vs INDmoney Basic Details

ICICI Direct Year of Incorporation is 2000 and Total Number of Clients is 2045086 and Total Number of Branches is 154 . INDmoney and Total Number of Clients is 838493 and .

	ICICI Direct	INDmoney
Year of Incorporation	Year of Incorporation : 2000	Year of Incorporation : -
Active Exchange Memberships	Active Exchange Memberships : -	Active Exchange Memberships : -
Demat Services	Demat Services : Yes	Demat Services : -
Website	Website : -	Website : -
Contact Details	Contact Details : -	Contact Details : -
Total Number of Clients	Total Number of Clients : 2,045,086	Total Number of Clients : 838,493
Total Number of Branches	Total Number of Branches : 154	Total Number of Branches : -
Products *	Products : -	Products : -

ICICI Direct vs INDmoney Orders

Orders

	ICICI Direct	INDmoney
Cover Orders (CO)	Cover Orders (CO) : Yes	Cover Orders (CO) : -
Bracket orders / One Cancels Other (BO / OCO)	Bracket orders / One Cancels Other (BO / OCO) : No	Bracket orders / One Cancels Other (BO / OCO) : -
After Market Orders (AMO)	After Market Orders (AMO) : No	After Market Orders (AMO) : -
Buy Today Sell Tomorrow (BTST) *	Buy Today Sell Tomorrow (BTST) : Yes	Buy Today Sell Tomorrow (BTST) : Yes
Sell Today Buy Tomorrow (STBT) *	Sell Today Buy Tomorrow (STBT) : No	Sell Today Buy Tomorrow (STBT) : Yes
Good Till Cancelled (GTC) *	Good Till Cancelled (GTC) : Yes	Good Till Cancelled (GTC) : Yes

ICICI Direct vs INDmoney Research and Advice / Trading Tips

Research and Advice / Trading Tips

	ICICI Direct	INDmoney
Equity Trading Recommendation *	Equity Trading Recommendation : -	Equity Trading Recommendation : -
Equity Investment Recommendation *	Equity Investment Recommendation : -	Equity Investment Recommendation : -
Recommendation basis risk Profile *	Recommendation basis risk Profile : -	Recommendation basis risk Profile : -
Comparison *	Comparison : -	Comparison : -
Free Tips *	Free Tips : Yes	Free Tips : -
Daily Market report *	Daily Market report : Yes	Daily Market report : -
ETF research *	ETF research : -	ETF research : -
Quarterly Results *	Quarterly Results : Yes	Quarterly Results : -

ICICI Direct vs INDmoney Franchisee / Authorized Person related information

Franchisee / Authorized Person related information

	ICICI Direct	INDmoney
Availability for franchisee / AP	Availability for franchisee / AP : -	Availability for franchisee / AP : -
Investment required for Franchisee / AP	Investment required for Franchisee / AP : -	Investment required for Franchisee / AP : -

ICICI Direct vs INDmoney Product & Services

ICICI Direct and INDmoney both offer a host of Products & Services for a better trading experience for their clients. Their comparative analysis is in the below table:

	ICICI Direct	INDmoney
Delivery Based Trading *	Delivery Based Trading : -	Delivery Based Trading : -
Margin Trading *	Margin Trading : Yes	Margin Trading : -
Call N Trade *	Call N Trade : -	Call N Trade : -
Trading in Both the exchanges *	Trading in Both the exchanges : -	Trading in Both the exchanges : -
Limit Order *	Limit Order : -	Limit Order : -
3-in-1 On-line Trading Account *	3-in-1 On-line Trading Account : -	3-in-1 On-line Trading Account : -
NRI Services *	NRI Services : Yes	NRI Services : -
SMS Alerts *	SMS Alerts : No	SMS Alerts : -
Offers Multiple Plan *	Offers Multiple Plan : -	Offers Multiple Plan : -
IPO Investment *	IPO Investment : -	IPO Investment : -
Portfolio Analysis *	Portfolio Analysis : -	Portfolio Analysis : -
Advanced Charting Features *	Advanced Charting Features : -	Advanced Charting Features : -
Brokerage Calculator *	Brokerage Calculator : -	Brokerage Calculator : -
Margin Calculator *	Margin Calculator : -	Margin Calculator : -
Stop Loss Order *	Stop Loss Order : -	Stop Loss Order : -
Bracket Orders & Trailing Stop Loss *	Bracket Orders & Trailing Stop Loss : -	Bracket Orders & Trailing Stop Loss : -
Equity Future & Option Trading *	Equity Future & Option Trading : -	Equity Future & Option Trading : -
Currency Future & Option Trading *	Currency Future & Option Trading : -	Currency Future & Option Trading : -
Market Trading *	Market Trading : -	Market Trading : -
Monthly & Yearly Plan *	Monthly & Yearly Plan : -	Monthly & Yearly Plan : -
Aumtomated Trading *	Aumtomated Trading : -	Aumtomated Trading : -

ICICI Direct vs INDmoney Customer Services

ICICI Direct and INDmoney both offer a host of Customer service options to their clients to quickly solve their queries or grievances if any. Their comparative analysis is in the below table:

	ICICI Direct	INDmoney
Toll Free Number *	Toll Free Number : -	Toll Free Number : -
Live Chat Facility *	Live Chat Facility : -	Live Chat Facility : -
Email Facility *	Email Facility : -	Email Facility : -
Branch Offices *	Branch Offices : -	Branch Offices : -
Customer Care *	Customer Care : -	Customer Care : -
Community Service *	Community Service : -	Community Service : -
Relationship Manager *	Relationship Manager : -	Relationship Manager : -
24/7 Support *	24/7 Support : -	24/7 Support : -

ICICI Direct vs INDmoney Other Investement

ICICI Direct and INDmoney both offer a lot of investment avenues apart from Stock trading on their platforms to their clients to make a better trading experience. Their comparative analysis is in the below table:

	ICICI Direct	INDmoney
Commodity Trading *	Commodity Trading : -	Commodity Trading : -
Investment in ETFs *	Investment in ETFs : -	Investment in ETFs : -
Investment in Mutual Funds *	Investment in Mutual Funds : -	Investment in Mutual Funds : -
Investment in Bonds *	Investment in Bonds : -	Investment in Bonds : -
Investment in Corporate Debt instruments *	Investment in Corporate Debt instruments : -	Investment in Corporate Debt instruments : -
Insurance Services *	Insurance Services : -	Insurance Services : -
Banking Services *	Banking Services : -	Banking Services : -

ICICI Direct vs INDmoney Trading Platform

ICICI Direct and INDmoney both offer a host of Trading Platform for a better trading experience for their clients. Their comparative analysis is in the below table:

	ICICI Direct	INDmoney
Web Platform *	Web Platform : -	Web Platform : -
Android Mobile App *	Android Mobile App : -	Android Mobile App : -
Desktop Windows *	Desktop Windows : -	Desktop Windows : -
Desktop Mac *	Desktop Mac : -	Desktop Mac : -
I-Pad App *	I-Pad App : -	I-Pad App : -
Virtual Trading *	Virtual Trading : -	Virtual Trading : -
iPhone Mobile App *	iPhone Mobile App : -	iPhone Mobile App : -
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