About ICICI Demat Account
ICICI Securities is part of ICICI Group. India’s top financial service provider offering banking and other financial services. ICICI Securities offers ‘online trading and investment’ services to over 20 lakhs customers through ICICI Direct.
ICICI Direct.com is the flagship website of ICICI Bank. This website offers a complete suite of investment products. Such as Online Equity Trading, Derivatives Trading, Mutual Fund & IPO. Fixed Deposit, Bond, NCD, wealth products, Home Loans, Loan against Securities all under one login. ICICIdirect.com is among the most visited investment portals in India.
The 3-in-1 account, which includes ICICI Bank Account, ICICI Trading Account and ICICI Demat Account, is the key offering for retail stock market investors in India. It provides an extremely simple and efficient way to invest in the stock market and other financial instruments.
The customers can visit any of the over 1500 ICICI Bank branches or ICICIDirect offices to get the in-person help on financial products that are sold through ICICI direct.
ICICIDirect also offers timely pay-in and pay-out, hassle-free settlements and above all local and personalized service.
ICICIDirect Trades In BSE and NSE.
ICICI Direct’s Trading Platforms:
ICICI Direct offers 2 trading platforms to its customers:
- Share Trading Account (Website Based Trading)
Website based online Share Trading Account by ICICIDirect is primarily for buying and selling of stocks at BSE and NSE.
The ICICIDirect website allows: Cash Trading, Margin Trading, MarginPLUS Trading, Spot Trading, Buy Today Sell Tomorrow, etc.
ICICIDirect.com website is the primary Investment vehicle of ICICI Limited.
- Trade Racer (Trading Terminal)
Trade Racer is a power-packed Trading platform which provides an investor with Live streaming quotes & Research Calls. It integrated fund transfer system along with multiple watch list facility. An investor can also do technical analysis with the help of advanced charting tools. Single Order entry page for Equities and Derivatives, Technical Analysis, Integrated Fund Transfer System. And Shortcut keys for faster access to markets are some key features of Trade Racer Terminal.
Opening a Demat Account:
ICICI bank offers a facility of opening a Demat account to all the savings/current account holders. The procedure to open ICICI bank Demat account is very simple and user-friendly. The account holders generally have two routes for opening a Demat account with bank. These two methods are as follows:
- The account holders can directly visit the ICICI Bank Branch that offers the various services related to the bank’s accounts including its Demat accounts or
- The account holders can download the opening form of the Demat account by going on the official website of the ICICI Bank. The form should be then completely and properly filled out and submitted to the ICICI Bank branch that provides Demat services to the customers.
Features of ICICI Demat Account
|The Demat services of ICICI bank are available 24/7, 365 days a year. As a result, it can transfer the securities any time desired by the account holder. Also, the account holders can keep track of all the account transactions even when they are on the move.|
|Multiple Demat accounts can be opened and held by the account holders of ICICI bank. But the same Depository Participant should hold the accounts.|
|The ICICI Bank Demat account is a zero balance account. It does not require the account holders to keep any sort of minimum balance of securities in their respective accounts to benefit from the account.|
|If the securities in the Demat account have the same holders, then the account holders have full privilege to have all their securities deposited in a single account|
|The account holders also have the right to dematerialize all their shares. But again, it is only done with the bank’s permission with whom the mentioned shares are pledged.|
ICICI Demat Account Login
Introduction to ICICI Demat Account Login
Technology has been their topmost preference though, and so, they have stepped into all kinds of online services via ICICI Direct Login.
You can use the app, the website or the ICICI Direct Backoffice Login. And there you will have all the options to watch over and manage your portfolio in a better way. Online trading will be on the greatest advantage.
ICICI Demat Account App Login Process:
A pretty good working app launched by the company gets handy for the client to trade online with features such as Buy, Sell, Short Sell, Stop Loss, Trigger, etc. Along with some advanced apps as well.
|Get yourself a Demat account of the ICICI Direct company, which will also get you a client id and password.|
|Based on the Operating system you have on your phone, choose a link from the below table and download the app|
|Open the app and do as asked till you find the login page, where you need to enter the details of id and password.|
|Now you will be asked to create a 2FA password. Do the needful and memorize as you will need it to log in every time.|
ICICI Demat Account Website Login:
Here is to the ease of logging in, for you have absolutely no need to download an additional app.
Open your browser and follow the below-mentioned steps in order to ICICI Direct Website Login:
- Demat account is the first steps, so get one
- Keep up with the login id and password provided to you while the opening of the account.
- Enter the id and password when you see the log in page and generate a password if you are a first time user.
ICICI Direct Backoffice Login Process
ICICI Direct Backoffice Login has its own kind of perks that it offers to its esteemed customers and clients who are active traders in its trading platform.
It is because the page contains information like the transaction reports, profit & loss statement of each transaction, Portfolio performance & more. some of the statements are downloadable as well.
- Make sure you have a Demat account with the company in order to use this login option
- Keep the login id and password within your grasp to use it.
- When you find the login page enter the details you have with you, the client id and password.
ICICI Demat Account Charges
ICICI Demat Account Brokerage Charges
The brokerage of Rs. 35 – Rs. 95 per lot with respect to Equity Options Trading.
Rs. 10 – Rs. 35 per lot with respect to Currency Options Trading.
Rs. 35 per trade in terms of Minimum Brokerage is also charged by the broker.
ICICIDirect charges Rs. 975 per annum with respect to the annual maintenance charges for Trading Account and Rs. 500 per annum with respect to the annual maintenance charges for Options Account.
They also have made it mandatory for their respective traders as well as investors to maintain a minimum balance of Rs. 20,000 with respect to the Margin Money in order to trade seamlessly.
ICICI offers 3 types of brokerage plans to its customer:
- I-Secure Plan (Flat brokerage Plan): This plan offers Flat Brokerage (in%) irrespective of the turnover value. This plan is suitable for traders/investors looking at the secured and fixed brokerage.
- I-Saver Plan (Variable brokerage plan): This plan offers brokerage based on the trading volume i.e. high brokerage for low volume and low brokerage for high volume traders. This plan suitable for traders/investors who trade in high volumes and can benefit from the low brokerage.
- ICICIDirect Prime Plan: ICICI Securities launched the “ICICIDirect Prime” plan for its customers. This will help their customers to reduce their brokerage and also get money instantly in their bank account when selling shares in BSE. They also offer exclusive research for prime members. Three prime plans – ₹900, ₹4500 and ₹9500 are available to customers and each of these plans offers an upfront reduction in brokerage across all equity and derivative products.
ICICI Direct minimum deposit
There is no minimum deposit requirement when you open a trading and Demat account with ICICIDirect. You need to pay account opening charges and Demat AMC, if applicable. Once your account is up and ready you need to transfer funds to start trading.
ICICI Direct hidden charges
ICICIDirect doesn’t have any hidden charges. It clearly defines all charges and plan details are clearly in the account opening document. No minimum charges or no other charges applicable.
How To Close ICICI Demat Account
ICICI direct is one of the top largest stockbrokers in the country. But we know that if you are reading this article, you are not happy with them for some reason. They provide good services but have high brokerage charges.
Nowadays, many discount brokers are there who charge less brokerage so people are shuffling from here to there and want to close the account with ICICI. Even ICICI has high AMC (annual maintenance charge) as well.
Points to check before proceeding for account closure are:
- Your Demat must be empty, which means it shouldn’t have any shares in it. If you have shares in your account, then you need to transfer those shares to your new account before you can proceed to close the account.
- Your account balance needs to be clear and you shouldn’t have any negative balance. If you wish to close the account, then you need to settle the remaining amount before closing.
Process of closing account
- Demat account closure process- You need to visit your nearest ICICI Direct branch with some documents in hand such as Id proof, address proof. Along with the documents you need to submit the form for account closing. This form cannot be printed and sent. You will have to physically visit the branch to close the account.
- Trading account closure process-You can close a trading account by simply calling on customer care and placing a request for the closing of the trading account.
If you visit the branch, both the Trading and Demat account would be closed.
Time taken for closing account
Usually, the time for a closing account is around 6-7 days. But if there is an issue in the documents or account processing then it may take more time as well.
Can account closing be done online?
One can close his trading account by requesting them for a closing account on call but not online while the Demat account cannot be closed on call, for closing the Demat account you need to visit the branch manually.
|The ICICI Direct Demat account offers a 3-in-1 account is an integrated account structure|
|The full-time broker provides a Demat and trading account that allows trading in both BSE and NSE.|
|With ICICI Direct one can manage one’s own Demat and bank accounts via ICICIdirect.com.|
|Along with IPOs, Mutual Funds, and bonds, the General insurance option is also available with the ICICI Demat Account.|
|ICICI Direct Demat account in India applies high brokerage rates that are not negotiable.|
|Rs 75 per month are being charged for the Trading Terminal (Trade Racer) by ICICI Direct|
|ICICI Direct Demat account does not allow commodity trading.|
|After 20 free calls in the beginning month, the broker charges Rs 25 per call for call & trade facility.|