What
are the charges for your product?
- ICICIdirect.com
account can be opened for a one-time non-refundable fee of Rs 750/-.
-
The brokerage rates are very reasonable. The rates vary according
to the volume of trades done by you.
The
brokerage rates on ICICIdirect.com are inclusive of demat transaction
charges.
It
ranges from 0.03% to 0.1% for margin trades, 0.2% to 0.425% for squared
off trades and 0.25% to 0.75% on delivery based trades.
To
give an idea, an investor having a daily average trading volume of Rs
65000/- will be paying an effective brokerage of 0.50% only , and that
too inclusive of all charges.
- Demat
account charges: For all trades done through ICICIdirect.com,
there are NO separate charges. However, for all other trades and services
like demat, pledge etc, the charges shall be as per the existing rate
card of ICICI demat. An annual maintenance fee of Rs.500/- (Rs.450/- for customers receiving statement by e-mail) per account is charged. However, the first year annual maintenance charges are
waived for on all accounts opened through ICICIdirect.com.
- For
bank account, a minimum quarterly average balance of Rs 5000/- needs
to be maintained.
Why
should you open an account with ICICIdirect.com? You may be wondering
about why we charge you 0.75%, while your broker may claim only say
0.5%.
Firstly, the brokerage rates of ICICIdirect.com are inclusive of demat
transaction charges.
Secondly,
brokerage rates on ICICIdirect.com is dependant on the volume of transactions
done and also the type of trade put in by you. As mentioned earlier,
investors with reasonable trading volumes anyways get less than 0.5%
brokerages (all inclusive).
Even
if we assume very low volumes of trading and that too only on Delivery
based trading, our brokerage rates are still economical. Let us take
an example
| |
|
ICICIdirect |
Other broker |
| |
Normal brokerage
|
0.85%
max
|
Lets
say 0.50%
|
|
A
|
Transaction
value
|
10000
|
10000
|
|
B
|
Brokerage
(Rs.)
|
85.00
|
50.00
|
|
C
|
Service Tax
(5% of B)
|
NIL
|
2.50
|
|
D
|
Other charges
(0.03% of A)
|
NIL
|
3.00
|
|
E
|
Demat charges
|
NIL
|
25.00
|
|
F
|
Total charges
(Rs.) B+C+D+E
|
85.00
|
80.50
|
- How
much do you pay for an average demat transaction? ICICI demat has
a Market Buy rate of 0.03% or Rs 25/-, whichever is higher, for EVERY
trade. If you calculate, an investor has to buy at least upto Rs 83333/-
worth of shares to pay 0.03% in EVERY Trade. Obviously not many people
pay 0.03%. They pay Rs 25/- instead.
- Suppose
an average person trades in Rs10000/- in every trade, he shall pay
Rs 25/- for demat charges.This comes to 0. 25% of his trade amount.
-
So he pays at least 0.75% and not 0.50%. Add other charges to this
and it will go up to atleast 0.80%. On top of it, one may incur the
local conveyance directly or indirectly in collecting/sending cheques/TIFDs
with the broker concerned. More importantly, one has to find time
and person to chase the broker.
- Add
to this, ICICIdirect credits the funds to your bank account on the
pay-out day itself (one can even withdraw it on the same day).
-
To summarize, ICICIdirect.com ensures a hassle free, fast, transparent,
easy and trustworthy service at reasonable rates.More it also gives
you latest market updates, live quotes and market charts to help you
GET CONTROL of your own trade .
