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TIER 1 · SEBI · NSE · BSE · MCX#10 of 10 local brokers (IN)

ICICI Direct review: the verdict.

Verdict score

6.2 / 10

Launch formula: 60% hard data, 40% outside ratings. Verified reviews from our traders replace outside ratings as they come in.

Regulation10.0

Best licence: Tier 1

Trading cost5.0

No published spread

Accessibility5.0

Deposit not published

Platforms & payments1.3

1 platforms · 0 payment methods

Outside ratings4.8

Trustpilot 2.1 from 10

ICICI Direct doesn't publish a EUR/USD spread we could verify, so we can't calculate its yearly cost yet.

Regulation

Who licenses ICICI Direct.

Licences as ICICI Direct lists them. A tick means we found the entity on the regulator's own register.

Regulator	Tier	Entity	Licence no.	On register
SEBI	TIER 1	ICICI Securities Ltd.	INZ000183631	Not yet checked
NSE	TIER 1	ICICI Securities Ltd.	07730	Not yet checked
BSE	TIER 1	ICICI Securities Ltd.	103	Not yet checked
MCX	TIER 1	ICICI Securities Ltd.	56250	Not yet checked

Accounts

Published brokerage.

Account	Spread	Commission	Cost / lot
Currency F&O Neo plan: ₹20 per order (commodity & currency derivatives)	—	—	—
Commodity (MCX) Neo plan: ₹20 per order (commodity & currency derivatives)	—	—	—
Equity F&O Neo plan: futures ₹0; options ₹20 per order	—	—	—

Cost per standard lot = spread in pips × $10 + round-turn commission. Brokers publish “typical”, “average” or “from” spreads; “from” figures flatter the broker.

Key facts

The fine print.

Website

www.icicidirect.com

Segments

Currency F&O, Commodity (MCX), Equity F&O

Founded

Not published

Headquarters

India

Minimum deposit

Not published

Max leverage

Not published

EU/UK leverage cap

—

Platforms

own app

Deposits & withdrawals

Not published

Islamic (swap-free) account

Not published

Copy trading

Not published

Withdrawal fees

ACCOUNT OPENING FEE: varies ₹0 to ₹975 depending on scheme.

Inactivity fee

AMC: demat AMC free first year; ₹700 (excl. taxes) from year 2; BSDA no AMC up to ₹50,000 holdings. iValue plan subscribers ₹300 AMC.

Restricted countries

Not published

RBI Alert List (India)

Not applicable (SEBI-registered Indian broker)

Verified reviews

Traded with ICICI Direct? Prove it.

Verified reviews open soon. Reviews backed by a statement, a read-only MT4/MT5 login or a withdrawal receipt count up to 3× more, and every verified review enters the weekly 100 USDT draw.

Outside rating used for now: Trustpilot 2.1 from 10 reviews.

Compare ICICI Direct

Visit ICICI Direct

Sources · data as of 2026-10-24

accounts: www.icicidirect.com/open-free-demat-and-trading-account
segments: www.icicidirect.com/open-free-demat-and-trading-account
regulators: icicidirect.com/mailimages/Disclaimer-NRI-HTML_17OCT2023.html
trustpilot: www.trustpilot.com/review/www.icicidirect.com
inactivity fee note: www.icicidirect.com/open-free-demat-and-trading-account
withdrawal fee note: www.icicidirect.com/open-free-demat-and-trading-account

Research notes: max_leverage null: exchange-traded derivatives; SEBI/exchange SPAN+exposure margins apply, no broker-set leverage. Not CFDs; currency F&O limited to INR pairs + exchange cross pairs. Main brokerage-charges page unreachable; rates from account-opening page (Neo plan). Multiple plans (Neo/Prime/prepaid/iValue) with differing rates. Reg/member IDs from ICICI Direct disclaimer page dated Oct 2023. min_deposit not stated; payment methods unconfirmed.

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