Zerodha Vs ICICI Direct – Compare Best Discount & Full Service Broker

Zerodha Vs ICICI Direct – Comparison:

Comparing Zerodha vs ICICI Direct in terms of all product-wise details which are essential for every investor we get the detailed study.  In this comparative assessment, we focused on the advantages and disadvantages of both the broker for the knowledge of investors.

Zerodha is the largest discount broker of India for providing the best online trading platform, high exposure in exchange for low brokerage, free mutual fund investment (using the platform) and a lot more.

Based on Bangalore it has 9lakhs customer base, 22 branch offices, 94 associate office, and 6 support-call & trade offices. 

Whereas, ICICI Direct is an awarded stockbroker of India having a presence across 2300 sub-brokers, 61 branches & numerous happy customers throughout India.

Notable Features: 

Zerodha: 

  1. Offers direct mutual fund investment using their portal for free. 
  2. In association with IDFC, it provides 3-in-1 account facilities. 
  3. The trading terminal is best among all the other market competitors.
  4. It provides the best quality of customer support.
  5. Facilitate free fund transfer using UPI.

ICICI Direct: 

  1. It doesn’t have a 3-in-1 account.
  2. Margin Trading facility available.
  3. Multiple brokerage plan options are available.
  4. They provide support to the customer on research reports and advice. 
  5. Mobile trading facility not available for NSE trading. 
Zerodha Vs ICICI Direct
Zerodha Vs ICICI Direct

Zerodha Vs ICICI Direct Overall Company Details: 

Comparing Zerodha vs ICICI Direct based on overall customer service we derived the below-mentioned details.

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Here we have compared both the brokers considering the type of organization, broker type, originated location, establishment year & name of the founder.

OverviewZerodhaICICI Direct
Organization TypePrivatePublic
Broker CategoryDiscount BrokerFull-Service Broker
Head OfficeBangalore, IndiaMumbai, India
Founded byNithin KamathM K Sharma
Commencement Year20101994

Zerodha Vs ICICI Direct Customer Ratings:

Comparing Zerodha vs ICICI Direct based on Customer Ratings we get this information.

Here we can see that regarding experience, product-services & research work, ICICI Direct is leading but in the remaining segments such as products, services, brokerage charges & platforms Zerodha is winning the race.

Customer RatingsZerodhaICICI Direct
On Experience5.7 out of 107.5 out of 10
On Products & Services8.5 out of 108.9 out of 10
On Brokerage Charges & Fees9.5 out of 106.0 out of 10
On Stock Research & Advisory4.0 out of 108.5 out of 10
On Trading Platforms9.0 out of 108.5 out of 10
On Overall Ratings7.4 out of 107.9 out of 10
On Star Ratings★★★★★★★★★★

Comparison on AOC & AMC: 

Here we have compared Zerodha vs ICICI Direct based on account opening charge & account maintenance charge. Here we can see from the below contrast that Zerodha offers free AMC on the trading account.

Whereas, ICICI Direct provides free account opening. Margin Money criteria are present in ICICI Direct. 

Demat ServicesZerodhaICICI Direct
Depository Participant CDSLNSDL & CDSL
Charges for Account Opening Rs.300Zero
AMC of Demat A/CRs.300 per AnnumRs.500 per Annum
AMC of Trading A/CFreeRs.975
Marginal MoneyZeroMinimum Rs.20,000
Offline to OnlineNoNo

Zerodha Vs ICICI Direct Brokerage Charge:

Contrasting Zerodha vs ICICI Direct based on Brokerage Charge we get the below details. Here we can see that ICICI Direct offers a percentage based brokerage charge structure.

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While Zerodha has a very economical flat fee-based brokerage charge. ICICI Direct charges a minimum brokerage on executed orders but there is no such minimum brokerage in Zerodha. 

Brokerage Charge & FeesZerodha BrokerageICICI Direct Brokerage
Equity Delivery TradingZero0.55%
Equity Intraday TradingRs.200.03% – 0.05%
Commodity Options TradingRs.20NA
Equity Futures TradingRs.200.03% – 0.05%
Equity Options TradingRs.20 per LotRs.35 – Rs.95 per Lot
Currency Futures TradingRs.200.03% – 0.05%
Currency Options TradingRs.20 per LotRs.10 – Rs.35 per Lot
Minimum BrokerageZeroRs.35 per Trade
Demat AMC ChargesRs.300 per AnnumRs.500 per Annum
Trading AMC ChargesFreeRs.975 per Annum
Margin MoneyZeroMinimum Rs.20,000

Comparison on Administrative Charge: 

In terms of Administrative transactional charge, we here compared Zerodha vs ICICI Direct as below. We can see that both the broker share a similar charge structure other than the transaction charge criteria. The transaction charge of ICICI Direct is lesser than Zerodha. 

Other ChargesZerodhaICICI Direct
Transaction Charges0.00325% of Total Turnover0.00280% of Total Turnover
STT0.0126% of Total Turnover0.0126% of Total Turnover
SEBI Turnover Charges0.0002% of Total Turnover0.0002% of Total Turnover
Stamp DutyDepends on State (very minimal)Depends on State (very minimal)
GST18% of (Brokerage + Transaction Charges)18% of (Brokerage + Transaction Charges)

Comparison on Offers: 

Contrasting Zerodha vs ICICI Direct we get the below comparison on offers. We here can see that in terms of offers ICICI Direct is a step ahead of Zerodha for offering more offers.

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OffersZerodhaICICI Direct
Free Demat Account
Free Trading Account
Discount on Brokerage
Trading Happy Hours
Flexible Brokerage Plans
1 Month Brokerage Free
Holiday Offers
Referral Offers
Zero Brokerage for Loss Making Trades

Comparison on Services Offered: 

Comparing Zerodha vs ICICI Direct based on their service offering we derived the below comparison:

ServicesZerodhaICICI Direct
Demat Services
Trading Services
3 in 1 Account
Intraday Services
IPO Services
Stock Recommendations
Robo Advisory
PMS
Trading Institution
Trading ExposureMaximum 28xMaximum 16x

Zerodha Vs ICICI Direct Research & Advisory: 

Contrasting Zerodha vs ICICI Direct based on their research & advisory offering we received the below comparison. Here we can see in the below table that ICICI Direct offers different advisory supports, where Zerodha doesn’t provide any.

Research & AdvisoryZerodhaICICI Direct
Fundamental Reports Services
Research Reports Services
Company Reports Services
Annual Reports Services
Company Stock Review Services
Free Stock Tips Services
IPO Reports Services
Top Picks Services
Daily Market Review Services
Monthly Reports Services
Weekly Reports Services
Offline Advisory Services
Relationship Manager Services

Zerodha Vs ICICI Direct Margin/ Exposure/ Leverage

Considering Zerodha vs ICICI Direct based on product-wise leverage we get the below details. 

Exposure / LeverageZerodha MarginICICI Direct Margin
Equity DeliveryMaximum 20xMaximum 8x
Equity IntradayMaximum 28xMaximum 16x
Equity FuturesMaximum 15xMaximum 8x
Equity OptionsMaximum 8xMaximum 5x
Currency FuturesMaximum 12xMaximum 8x
Currency OptionsMaximum 8xMaximum 8x
CommoditiesMaximum 17xMaximum 12x

Comparison of Products: 

Comparing Zerodha vs ICICI Direct based on their product offering we derived the below comparison. We can see in this below comparison that ICICI Direct offered to trade in Mutual funds, forex, banking, insurance & SIP which Zerodha doesn’t. 

ProductsZerodhaICICI Direct
Equity Trading
Commodity Trading
Currency Trading
Options
Futures
Mutual Funds
Forex
Banking
SIP
Insurance

Zerodha Vs ICICI Direct Trading Platforms: 

Because of the trading terminal offering of Zerodha vs  ICICI Direct, we compared them as below. 

Trading PlatformsZerodha Trading
Platforms
ICICI Direct
Trading Platforms
Desktop Platform – Windows
Desktop Platform – Mac
Desktop Browser Platform
Mobile Site Platform
Android App Platform
iOS App Platform
Windows App Platform
Other Mobile OS Platform
Real-time Updates
Portfolio Details
Online MF Buy
News Flash
Research Reports
Easy Installation
Global Indices
Stock Tips
Personalized Advisory
Interactive Charts
Live Markets
SMS Alerts
Email Alerts
Multi-Account Management

Comparison on Customer Support: 

Comparing customer assistance, we here have compared Zerodha vs ICICI Direct as below. We can see from the below chart that Zerodha doesn’t provide dedicated dealers, offline trading (as it is a discount broker).

While ICICI Direct doesn’t facilitate 24×7 support, offline trading & chat support. 

Customer SupportZerodhaICICI Direct
Dedicated Dealer
Offline Trading
Online Trading
24*7 Support
Support Number080-40402020022-33551122
Email Support
Chat Support
Toll-Free Number
BranchesZero226
Open Demat Account with ICICI Direct
Zerodha vs ICICI Direct – Open Demat Account with ICICI Direct

Comparison of Grievances: 

Both these brokers provide multiple channels to their investors to reach them so that they can support the customers in a better way. Here we compared Zerodha vs ICICI Direct based on their customer complaint handling in the below table. 

Complaints (Current Year)ZerodhaICICI Direct
Lodged in BSE120225
Resolved in BSE117215
Lodged in NSE89196
Resolved in NSE85182

Zerodha Call Back Request

Conclusion:

Finally, we can conclude that ICICI Direct (full-service broker) has a huge offering for its customers just like its market reputation. But Zerodha (discount broker) offers lower charges to its customers.

Still, it should be kept in mind that individual investors should opt the broker between Zerodha and ICICI Direct as per his need only.