ICICI Direct is one of the premier brands in the Stock-broking industry of India. According to the market it comes under grade/class 1 along with brands like HDFC Securities, Wisdom Capital, etc. Having a 2 million customer base and more than 200 branches in different cities of India.
If we compare Sharekhan vs ICICI Direct, we can analyze the real market value of this company.
On the other hand, Sharekhan also comes under grade 1, but it is a very old and trusted name as an Indian stock broking organization. Having an experience of working 16 years in this industry with 675 branches all over India.
Both these company deals in the money market as share /stock broking agents. We will here compare both of these companies according to the services offered to customers, offers, fees & charges, etc. The comparison made in this article is based on personal knowledge & research.
The stock/equity/share market is a part of the money market, where stock buyers and sellers purchase or sell the stock. It is a virtual market. Stock exchanges mainly do these operations. It is the place where the entire buying & selling process takes place. The products are shares, debenture, bonds, etc.
Functions:
ICICI Direct:
- It provides E –Broking facilities.
- Offers customers 3in 1 account (Salary cum savings cum Demat).
- Offers many investment options to customers like- Derivatives trading, NRI trading, Mutual funds, SIP, IPO, Insurance, etc.
- Share Trading available on both National Stock Exchange & Bombay Stock Exchange.
- Customer support is provided 24X7
- Provide a personal relationship manager to classic or privilege account holders.
Sharekhan:
- Sharekhan holds a fame in the money market for their detailed and high researched information.
- Offers every product related to investment – insurances, Mutual funds, debentures, stock, arbitrage, etc.
- Call & trade facilities are available, for free of cost.
- Being the oldest one in this industry – it comes with a large networking system.
- Loan against security (LAS) facility available.
- Offers training for all the tradors to customers in association with Online Trading Academy (OTA).
Comparisons- Based on The Facilities Provided:
| Particulars | ICICI DIRECT | SHAREKHAN |
| Market rating as an organisation | 4 out of 5 | 4 out of 5 |
| The rating according to Trading platform | 4.5 out of 5 | 4.5 out of 5 |
| The rating according to the Investment offerings | 5 out of 5 | 5 out of 5 |
| The rating according to customer satisfaction | 4 out of 5 | 4 out of 5 |
| The rating according to Fees charged for Brokerage | 3.5 out of 5 | 3.5 out of 5 |
| Stock Exchanges supported | NSE, BSE | BSE, NSE, MCX, NCDEX, NSEL |
| Type of Broker | Full broking service provided | Full broking service provided |
Sharekhan Vs ICICI Direct Account maintenance Charges:
Both companies provide free Account (Demat or Trading) to its customer. The AMC for the trading account is free but they both charge a nominal amount towards the maintenance of DEMAT Account.
| Particulars | ICICI DIRECT | SHAREKHAN |
| Account Opening Charges | Zero | Zero |
| Account Maintenance charges for trading | Zero | Zero |
| DEMAT A/c opening Charges | Zero | Zero |
| Account Maintenance charges for DEMAT A/c | 600 Rupees p.a. (Free for 1st year) | 400 Rupees p.a. (Free for 1st year) |
| DP Service | Yes | Yes |
Comparison- Based on Brokerage Plan:
Multiple plans monthly plans are available. Sharekhan & ICICI Direct both offer their customers multiple plans. Monthly & Yearly plans are not available in both of them.
| Particulars | ICICI DIRECT | SHAREKHAN |
| Multiple plans | ✔ | ✔ |
| Monthly plans | ✖ | ✖ |
| Yearly plans | ✖ | ✖ |
Comparison- Based on Brokerage Charges:
ICICI Direct has a fixed brokerage plan which is very good for casual traders. The amount of brokerage doesn’t depend upon the volume of turnover.
On the other hand, Sharekhan offers a percentage based brokerage plan. No minimum brokerage amount is there.
| Particulars | ICICI DIRECT | SHAREKHAN |
| Plan Name | I-Secure Trading Plan (% Based) | Classic Trading Plan (% Based) |
| Equity Delivery | Percentage: 0.55 | Percentage: 0.5% |
| Equity Intraday | Percentage: 0.03% | Percentage: 0.1% |
| Equity Futures | Percentage: 0.05% | Percentage: 0.1% |
| Equity Options | 95 Rupees Per Lot | 2.5% of Premium OR, 250 Rupees per lot (whichever is high) |
| Currency Futures | Percentage: 0.05% | Percentage: 0.1% |
| Currency Options | 25 Rupees Per Lot | 2.5% of Premium OR, 30 Rupees per lot (whichever is high) |
| Commodity Trading | NA | Percentage: 0.1% |
| Minimum Brokerage | 35 Rupees per trade | 20 Rupees per trade |
| Hidden Charges | Yes | No |
| Funding | Yes – 18% interest p.a. | Yes – 18% interest p.a. |
| Call & Trade Charges | First 20 calls are free and 25 Rupees there onwards. | Free of cost |
Transactional Charges Compare
In this below-mentioned chart, the details of transactional charges are mentioned according to the product type.
| Transaction Charge on: | ICICI DIRECT | SHAREKHAN |
| Equity Delivery | 325 Rupees Per Cr | 325 Rupees Per Cr |
| Equity Intraday | 325 Rupees Per Cr | 325 Rupees Per Cr |
| Equity Futures | 190 Rupees Per Cr | 190 Rupees Per Cr |
| Equity Options | 5000 Rupees Per Cr | 5000 Rupees Per Cr |
| Currency Futures | 100 Rupees Per Cr | 100 Rupees Per Cr |
| Currency Options | 4000 Rupees Per Cr | 4000 Rupees Per Cr |
| Commodity | NA | Non-Agri: 260 Rupees Per Cr | Agri: INR. 175 Per Cr |
Sharekhan Vs ICICI Direct feature provided
Both of the organization provide ample of facilities to their customers. All the facilities hereby mentioned below along with the comparison:
| Account Features Compare | ICICI DIRECT | SHAREKHAN |
| 3 in 1 Account | Yes | No |
| Charting | Yes | Yes |
| ALGO Trading | No | No |
| SMS Alerts | Yes | Yes |
| Online A/c | Yes | Yes |
| Online Portfolio | Yes | Yes |
| Margin Trading Funding | Yes | Yes |
| Combined Ledger for Equity and Commodity | No | Yes |
| Intraday Square-off Time | 3:15PM | 3:15PM |
| NRI Trading | Yes | Yes |
Compare Trading Platform
There are various methods offered by the companies for trading- like, online, mobile, desktop, tablet, etc. The comparison between Sharekhan vs ICICI Direct based on that is given below:
| Trading Platform Compare | ICICI DIRECT | SHAREKHAN |
| Desktop Trading Platform | Trade Racer | Trade Tiger |
| Desktop Platform (Windows) | Yes | Yes |
| Desktop Platform (Mac) | Yes | No |
| Web Trading Platform | Yes | Yes |
| Web Trading Detail | www.icicidirect.com | www.sharekhan.com |
| Mobile Site | Yes | Yes |
| Mobile Trading | Yes | Yes |
| Mobile Trading App | ICICI Direct | Sharekhan |
| Android Mobile App | Yes | Yes |
| iPhone Mobile App (IOS) | Yes | Yes |
| Android Tablet App | Yes | Yes |
| iPad App (IOS) | Yes | Yes |
| Trading Software Charges | Free | Free |
Comparison- Based on Investment offer:
According to the large variety of investment opportunities, both of the companies provide many options like Mutual fund, bond, Insurance, SIP, IPO, etc. The comparison is mentioned hereunder-
| Offerings | ICICI DIRECT | SHAREKHAN |
| Equity Cash and F&O | Yes | Yes |
| Currency Derivatives | Yes | Yes |
| Commodity | No | Yes |
| Online IPO Application | Yes | No |
| Mutual Funds | Yes | Yes |
| Bond / NCD | Yes | Yes |
| ETF | Yes | Yes |
| Banking | Yes | No |
| Insurance | Yes | Yes |
| Forex | No | No |
| MF SIP Investment | Yes | Yes |
| Equity SIP Investment | Yes | No |
| PMS Service | Yes | Yes |
| Other Investment Options | NIL | NIL |
Comparison- Based on DEMAT Account offerings:
ICICI Direct & Sharekhan both offer DEMAT A/c to their customers for share trading. The facilities & charges related to DEMAT account is compared below:
| ICICI DIRECT | SHAREKHAN | |
| Source of DP | CDSL (Central Depository Services LTD) | CDSL (Central Depository Services LTD) |
| ID of DP | 14300 | 36000 |
| Annual Maintenance Charges(AMC) | INR. 700/- p.a. | INR. 500/- p.a. |
| Advance Deposit | 7,500 Rupees If the client is not having ICICI BANK Savings Account | 500 Rupees Advance (adjusted against billing (Optional). Tariff D-“Deposit 2999 Rupees (refund of deposit 2000 Rupees on closure). |
| Statutory charges | Nil | Actual Stamp Paper Charges |
| Transaction Charges on Debit (Per ISIN) | 0.04% (Min ₹30 and Max ₹25,000) + ₹5.50 (CDSL Charges) | 0.03% (Min ₹30) + ₹5.50 (CDSL Charges) |
| Demat | ₹50 per set up | ₹5 per certificate (Min 50 per request) |
| Remat | ₹25 for 100 securities up to a maximum fee of Rs 3 lakh, MF Reconversion ₹25 per transaction | ₹50 per certificate or ₹50 for every hundred securities |
| Pledge Creation | 0.02% (Min ₹35 and Max ₹25,000) | 0.03% (Min ₹100) |
| Pledge Creation Confirmation | 0.02% (Min ₹35 and Max ₹25,000) | Nil |
| Pledge Closure | 0.02% (Min ₹35 and Max ₹25,000) | Nil |
| Pledge Closure Confirmation | 0.02% (Min ₹35 and Max ₹25,000) | Nil |
| Pledge Invocation | 0.02% (Min ₹35 and Max ₹25,000) | Nil |
| Failed Instruction Charges | ₹30 per transaction | Nil |
Comparison- Based on Customer Service:
Here are the comparison & details of Sharekhan and ICICI Direct the companies regarding customer assistance:
| Particulars | ICICI DIRECT | SHAREKHAN |
| 24/7 Customer Service | No | No |
| Email Support | Yes | Yes |
| Online Live Chat | No | Yes |
| Phone Support | Yes | Yes |
| Toll Free Number | No | Yes |
| Accessibility through Branches | Yes | Yes |
| Customer Care Number | +9133551122 | 1800227500 |
| Account Opening Process | Offline | Offline |
| Customer Support Email | [email protected] | [email protected] |
| Knowledge Center | content.icicidirect.com/indexfaq.asp | www.sharekhan.com/help/hello |
| Head Office Address | ICICI Centre, H.T. Parekh Marg, Churchgate, Mumbai – 400020 | Sharekhan Limited, 10th Floor, Beta Building, Lodha iThink Techno Campus, Kanjurmarg (East), Mumbai-MH– 400042 |
| Website | www.icicidirect.com | www.sharekhan.com |
Conclusion:
Both organizations are large and do have a very good market reputation. Also, they have goodwill for their extensive customer support. But the need for each investor varies from one another. So, the investor should go through the entire comparison between Sharekhan vs ICICI Direct properly before making any decision.
