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ICICI Direct vs Upstox (Compare ICICI Direct and Upstox)

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 Upstox, Below comparison of ICICI Direct vs Upstox 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 Upstox is given below:

ICICI Direct

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Upstox

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	ICICI Direct	Upstox

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

Upstox :

"Founded in 2009, Upstox is one of the reliable stock trading brokers with low brokerage and excellent facilities. Two young successful entrepreneurs who opened the co >>> more

Find More Information about the Broker :

ICICI Direct :

OVERVIEW BROKERAGE PRODUCTS & SERVICES TRADING PLATFORM & TOOLS RATING

Upstox :

OVERVIEW BROKERAGE PRODUCTS & SERVICES TRADING PLATFORM & TOOLS RATING

Type of Broker

ICICI Direct :

Full Service Broker

Upstox :

Discount Broker

Promo/offers

ICICI Direct :

N/A

Upstox :

Special Offer: Pay flat Rs 20 per trade for delivery, Intra-day and F&O. Open Instant Account and start trading today.

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

Upstox :

✔ What Upstox Does Well

✓	Flat ₹20 per order — simple, transparent pricing
✓	First year demat AMC completely free
✓	Pro Web — fast TradingView charting with Chart360
✓	Backed by Ratan Tata & Kalaari Capital — credible
✓	Account opens in 15 minutes — among fastest in India
✓	Well-documented API for algorithmic traders
✓	150+ technical indicators on Pro platform
✓	IPO applications free via UPI/ASBA
✓	SEBI-registered, CDSL custody — securities safe
✓	Call & Trade at ₹20/order — cheaper than Zerodha's ₹50

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

Upstox :

✘ Where Upstox Falls Short

✗	₹20 charged on delivery trades — unlike Zerodha's ₹0
✗	NRI trading accounts NOT available
✗	Mutual funds: regular plans only (not direct plans)
✗	No education resource like Zerodha Varsity
✗	No public platform outage disclosure page
✗	DP charge ₹20/scrip — applies on every delivery sell
✗	No phone support — chat and email only
✗	No research or stock recommendations
✗	No 3-in-1 integrated banking account
✗	Platform slows on high-volatility expiry 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

Upstox :

Upstox offers zero brokerage on equity mutual fund Investment and a mere ₹20 per transaction on Equity Delivery,intraday and F&O trades.
After Market Order (AMO), Cover Order and BO are available on both web and mobile
Trailing-Stop/Stop-Loss (SL) is available in both web and mobile.
Zero Demat AMC, Free demat account for life.
Offers NRI trading.
Offers Mutual Fund Investment, SIP Investement.
Upstox is backed by top investors with the likes of Ratan Tata, Kalaari Capital & GVK Davix
Upstox offers the best of technology to traders. The Upstox Platform on mobile and web is one of the best platforms for the Indian stock market.

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ICICI Direct vs Upstox Account Opening & AMC Charges

ICICI Direct Trading Account Opening Fee is Rs 0 (Free) and Upstox Trading Account Opening Fee is Rs 0 (Free) . ICICI Direct Demat Account AMC is Rs 700 and Upstox Demat Account AMC is Rs 150 .

	ICICI Direct	Upstox
Trading Account Opening Fee	Trading Account Opening Fee : Rs 0 (Free)	Trading Account Opening Fee : Rs 0 (Free)
Demat Account Opening Fee	Demat Account Opening Fee : Rs 0 (Free)	Demat Account Opening Fee : Rs 0 (Free)
Demat Account AMC	Demat Account AMC : Rs 700	Demat Account AMC : Rs 150
Trading Account AMC	Trading Account AMC : Rs 0 (Free)	Trading Account AMC : Rs 0 (Free)
	Open Account	Open Account

ICICI Direct vs Upstox 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 . Upstox Brokerage Charges Equity Delivery is Rs 20 per executed order or 2.5% whichever is low and Equity Intraday is Rs 20 per executed order or 0.05% whichever is lower and Equity Options is Rs 20 per executed order .

	ICICI Direct		Upstox
Plan Name	Plan Name : ICICI Direct Money Saver Plan	Plan Name : ICICIDirect iValue Plan	Plan Name : Basic Plan
Equity Delivery	Equity Delivery : 0.29% (buy + sell)	Equity Delivery : 0.29% (buy + sell)	Equity Delivery : Rs 20 per executed order or 2.5% whichever is low
Equity Intraday	Equity Intraday : 0.029% per side	Equity Intraday : ₹20/order flat	Equity Intraday : Rs 20 per executed order or 0.05% whichever is lower
Equity Future	Equity Future : 0.029% per side	Equity Future : ₹20/order flat	Equity Future : Rs 20 per executed order or 0.05% whichever is lower
Equity Options	Equity Options : ₹49 per lot	Equity Options : ₹20/order flat	Equity Options : Rs 20 per executed order
Currency Futures	Currency Futures : ₹20 flat	Currency Futures : ₹20/order flat	Currency Futures : Rs 20 per executed order or 0.05% whichever is lower
Currency Options	Currency Options : ₹20 flat	Currency Options : ₹20/order flat	Currency Options : Rs 20 per executed order
Monthly Fee	Monthly Fee : NA	Monthly Fee : ₹299 one-time, lifetime	Monthly Fee : NA
Margin Trading	Margin Trading : 0.05% - 0.03%	Margin Trading : 0.05% - 0.03%	Margin Trading : -
Commodity Futures	Commodity Futures : ₹20 flat	Commodity Futures : ₹20/order flat	Commodity Futures : Rs 20 per executed order or 0.05% whichever is lower
Commodity Options	Commodity Options : ₹20 flat	Commodity Options : ₹20/order flat	Commodity Options : Rs 20 per executed order
	Open Account		Open Account

ICICI Direct vs Upstox 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) . Upstox 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 3750 per Cr (0.0375%) (on premium) .

	ICICI Direct	Upstox
Equity Delivery	Equity Delivery : NSE Rs 325 per Cr (0.00325%) \| BSE Rs 375 per Cr (0.00375%) (each side)	Equity Delivery : NSE Rs 325 per Cr (0.00325%) \| BSE Rs 375 per Cr (0.00375%) (each side)
Equity Intraday	Equity Intraday : NSE Rs 325 per Cr (0.00325%) \| BSE Rs 375 per Cr (0.00375%) (sell side)	Equity Intraday : NSE Rs 325 per Cr (0.00325%) \| BSE Rs 375 per Cr (0.00375%) (sell side)
Equity Future *	Equity Future : NSE Rs 190 per Cr (0.0019%) \| BSE Rs 0	Equity Future : NSE Rs 190 per Cr (0.0019%) \| BSE Rs 0
Equity Options *	Equity Options : NSE Rs 5000 per Cr (0.05%) \| BSE Rs 3700 per Cr (0.037%) (on premium)	Equity Options : NSE Rs 5000 per Cr (0.05%) \| BSE Rs 3750 per Cr (0.0375%) (on premium)
Currency Futures *	Currency Futures : NSE Rs 90 per Cr (0.0009%) \| BSE Rs 90 per Cr (0.0009%)	Currency Futures : NSE Rs 90 per Cr (0.0009%) \| BSE Rs 22 per Cr (0.00022%)
Currency Options	Currency Options : NSE Rs 4000 per Cr (0.04%) \| BSE Rs 100 per Cr (0.001%) (on premium)	Currency Options : NSE Rs 3500 per Cr (0.035%) \| BSE Rs 100 per Cr (0.001%) (on premium)
Commodity	Commodity : Group A - Rs 260 per Cr (0.0026%)	Commodity : Group A - Rs 290 per Cr (0.0029%)
	Open Account	Open Account

ICICI Direct vs Upstox Other Charges

ICICI Direct Minimum Brokerage is Rs 35 per trade (I-Secure Plan) and Call & Trade is Rs 50 per trade . Upstox Minimum Brokerage is 0.05% and Call & Trade is Rs 20 per trade .

	ICICI Direct	Upstox
Minimum Brokerage	Minimum Brokerage : Rs 35 per trade (I-Secure Plan)	Minimum Brokerage : 0.05%
Call & Trade	Call & Trade : Rs 50 per trade	Call & Trade : Rs 20 per trade
Stamp Duty *	Stamp Duty : -	Stamp Duty : -
DP Charges (on sell side)	DP Charges (on sell side) : -	DP Charges (on sell side) : ₹13 plus ₹5.50 (CDSL charges) per scrip.
Other Miscellaneous Charges	Other Miscellaneous Charges : Margin Trading Interest: 0.025% Per day	Other Miscellaneous Charges : Auto Square-off Charges: Rs 50
	Open Account	Open Account

ICICI Direct vs Upstox Features

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

	ICICI Direct	Upstox
Trading Platform	Trading Platform : ICICIdirect.com (website), Trade Racer, ICICIDirect Mobile App	Trading Platform : Upstox Pro Web, Dartstock, NEST Trader, Fox Trader, iOS and Android Algola
Placing orders through charts	Placing orders through charts : -	Placing orders through charts : -
Trading Alerts	Trading Alerts : -	Trading Alerts : Yes
Research and Advice / Trading Tips	Research and Advice / Trading Tips : -	Research and Advice / Trading Tips : No
Detailed Education Initiatives	Detailed Education Initiatives : -	Detailed Education Initiatives : No
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 : 1
Margin Against Shares (Equity Cash) *	Margin Against Shares (Equity Cash) : Yes	Margin Against Shares (Equity Cash) : No
Margin Against Shares (Equity F&O) *	Margin Against Shares (Equity F&O) : Yes	Margin Against Shares (Equity F&O) : Yes
	Open Account	Open Account

ICICI Direct vs Upstox Demat Account Charges

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

	ICICI Direct	Upstox
Depository Service Provider	Depository Service Provider : NSDL	Depository Service Provider : CDSL
Account Opening Fee	Account Opening Fee : Stamp Duty at actuals	Account Opening Fee : Rs 249
Advance Deposit	Advance Deposit : ₹0 for ICICI Bank customers. ₹7500 for Non ICICI BANK customers.	Advance Deposit : Nil
AMC	AMC : For Individual account: ₹700 p.a. For Corporate account: ₹1500 p.a.	AMC : Rs 150
Dematerialisation Charges	Dematerialisation Charges : ₹50 Per Demat Request Form and ₹10 For Each Certificates	Dematerialisation Charges : Rs 2.00 per certificate plus courier charges of Rs 35 per demat request
Rematerialisation Charges	Rematerialisation Charges : ₹25 + CDSL charges at actual	Rematerialisation Charges : Rs 25 per certificate or 0.05% of the value whichever is higher.
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) : Rs 13 + Rs 5.50 (CDSL charges) per scrip.
Pledge Creation Charges	Pledge Creation Charges : 0.02% or minimum of ₹35	Pledge Creation Charges : 0.02% of the transaction charges subject to a minimum of Rs 50 plus NSDL / CDSL charges at actual.
Pledge Creation Confirmation Charges	Pledge Creation Confirmation Charges : 0.02% or minimum of ₹35	Pledge Creation Confirmation Charges : 0.02% of the transaction charges subject to a minimum of Rs 50 plus NSDL / CDSL charges at actual.
Pledge Invocation Charges	Pledge Invocation Charges : 0.02% or minimum of ₹35	Pledge Invocation Charges : 0.05% of the transaction charges subject to a minimum of Rs 50
Failed Instruction Charges	Failed Instruction Charges : -	Failed Instruction Charges : Rs 50 per transaction
Other Charges	Other Charges : ₹200 for restoring services if account is suspended for non payment of charges.	Other Charges : Demat Rejection Charges: Rs 35 per rejection for every 500 gms. Adhoc / Non periodic statement requests: Rs 25 (Rs 500 for foreign address) per request upto 10 pages. Every additional 5 pages or a portion thereof will be charged at Rs 10 plus courier / postage charges. Cheque Bounce charges: Charges will be applied based on charges as determined by our bankers.
	Open Account	Open Account

ICICI Direct vs Upstox Basic Details

ICICI Direct Year of Incorporation is 2000 and Total Number of Clients is 2045086 and Total Number of Branches is 154 . Upstox Year of Incorporation is 2012 and Total Number of Clients is 2036413 and Total Number of Branches is 4 .

	ICICI Direct	Upstox
Year of Incorporation	Year of Incorporation : 2000	Year of Incorporation : 2012
Active Exchange Memberships	Active Exchange Memberships : -	Active Exchange Memberships : BSE, NSE, MCX
Demat Services	Demat Services : Yes	Demat Services : No
Website	Website : -	Website : www.upstox.com
Contact Details	Contact Details : -	Contact Details : +91-22-6130-9999
Total Number of Clients	Total Number of Clients : 2,045,086	Total Number of Clients : 2,036,413
Total Number of Branches	Total Number of Branches : 154	Total Number of Branches : 4
Products *	Products : -	Products : Upstox Pro Web,Upstox Pro Mobile, Nest Desktop.
	Open Account	Open Account

ICICI Direct vs Upstox Orders

Orders

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

ICICI Direct vs Upstox Research and Advice / Trading Tips

Research and Advice / Trading Tips

	ICICI Direct	Upstox
Equity Trading Recommendation *	Equity Trading Recommendation : -	Equity Trading Recommendation : No
Equity Investment Recommendation *	Equity Investment Recommendation : -	Equity Investment Recommendation : No
Recommendation basis risk Profile *	Recommendation basis risk Profile : -	Recommendation basis risk Profile : No
Comparison *	Comparison : -	Comparison : No
Free Tips *	Free Tips : Yes	Free Tips : No
Daily Market report *	Daily Market report : Yes	Daily Market report : No
ETF research *	ETF research : -	ETF research : No
Quarterly Results *	Quarterly Results : Yes	Quarterly Results : No
	Open Account	Open Account

ICICI Direct vs Upstox Franchisee / Authorized Person related information

Franchisee / Authorized Person related information

	ICICI Direct	Upstox
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 : -
	Open Account	Open Account

ICICI Direct vs Upstox Product & Services

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

ICICI Direct vs Upstox Customer Services

ICICI Direct and Upstox 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	Upstox
Toll Free Number *	Toll Free Number : -	Toll Free Number : No
Live Chat Facility *	Live Chat Facility : -	Live Chat Facility : Yes
Email Facility *	Email Facility : -	Email Facility : Yes
Branch Offices *	Branch Offices : -	Branch Offices : Yes
Customer Care *	Customer Care : -	Customer Care : Yes
Community Service *	Community Service : -	Community Service : Yes
Relationship Manager *	Relationship Manager : -	Relationship Manager : No
24/7 Support *	24/7 Support : -	24/7 Support : No
	Open Account	Open Account

ICICI Direct vs Upstox Other Investement

ICICI Direct and Upstox 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	Upstox
Commodity Trading *	Commodity Trading : -	Commodity Trading : Yes
Investment in ETFs *	Investment in ETFs : -	Investment in ETFs : Yes
Investment in Mutual Funds *	Investment in Mutual Funds : -	Investment in Mutual Funds : Yes
Investment in Bonds *	Investment in Bonds : -	Investment in Bonds : No
Investment in Corporate Debt instruments *	Investment in Corporate Debt instruments : -	Investment in Corporate Debt instruments : No
Insurance Services *	Insurance Services : -	Insurance Services : No
Banking Services *	Banking Services : -	Banking Services : No
	Open Account	Open Account

ICICI Direct vs Upstox Trading Platform

ICICI Direct and Upstox 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	Upstox
Web Platform *	Web Platform : -	Web Platform : Yes
Android Mobile App *	Android Mobile App : -	Android Mobile App : Yes
Desktop Windows *	Desktop Windows : -	Desktop Windows : Yes
Desktop Mac *	Desktop Mac : -	Desktop Mac : No
I-Pad App *	I-Pad App : -	I-Pad App : Yes
Virtual Trading *	Virtual Trading : -	Virtual Trading : No
iPhone Mobile App *	iPhone Mobile App : -	iPhone Mobile App : Yes
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	Open Account	Open Account