ICICI Direct vs HDFC Securities Detailed Comparison
This is a Comparision of the ICICI Direct vs HDFC Securities in India.
In fact, I have been using this Demat account for more than a year
In this post, I am going to compare
- Overview
- Brokerage Comparision
- Trading Platform
- Account Comparision
- Annual Opening and Maintenance charges
- Brokerage Charges
- Investment Option
- Support
Let’s get started.
ICICI Direct vs HDFC Securities: Summary
ICICI Direct | HDFC Securities | |
---|---|---|
Type | Full-Service Broker | Full-Service Broker |
Year Founded | 2000 | 2000 |
Headquarters | Mumbai, India | Mumbai, India |
Overall Rating | 3.9 out of 5 | 4.1 out of 5 |
Brokerage Charges for Equity Intraday, F&O, Commodity and Currency | 0.05% to 0.25% or Rs 20 per executed order, whichever is lower | 0.05% to 0.50% or Rs 20 per executed order, whichever is lower |
Maximum Brokerage per Executable Order | Rs 25 | Rs 25 |
Zero Brokerage on Equity Delivery Trading | No | No |
Presence in Branches | More than 200 branches | More than 260 branches |
Mobile Trading App | Available | Available |
Number of Features | N/A | N/A |
Ranking | 4th | 3rd |
ICICI Direct vs HDFC Securities: Overview
As I compare ICICI Direct and HDFC Securities, I will start by providing an overview of both brokers. This section will discuss their establishment, reputation, and regulation.
Established
ICICI Direct is a subsidiary of ICICI Bank, which was established in 1994. ICICI Direct was launched in 1995 as a full-service online trading platform. It has a strong presence in India, with over 2.5 million clients.
HDFC Securities, on the other hand, is a subsidiary of HDFC Bank, which was established in 1994 as well. HDFC Securities began its operations in 2000 and has since grown to have over 1.5 million clients.
Reputation
Both ICICI Direct and HDFC Securities have a good reputation in the Indian stockbroking industry. ICICI Direct has won several awards for its services, including the Best Retail Broker Award by CNBC TV18 in 2018. HDFC Securities has also won several awards, including the Best Equity Broking House Award by Dun & Bradstreet in 2019.
Regulation
ICICI Direct is regulated by the Securities and Exchange Board of India (SEBI), which is the primary regulator of the Indian securities market. It is also a member of the National Stock Exchange of India (NSE) and the Bombay Stock Exchange (BSE).
SEBI also regulates HDFC Securities and is a member of the NSE and BSE. In addition, it is a depository participant with both the Central Depository Services Limited (CDSL) and the National Securities Depository Limited (NSDL).
To summarize, both ICICI Direct and HDFC Securities have established brokers with good reputations in the Indian stockbroking industry. SEBI regulates them and is a member of the NSE and BSE. HDFC Securities is also a depository participant with CDSL and NSDL.
ICICI Direct vs HDFC Securities: Brokerage Comparison
When it comes to Choosing a stockbroker, one of the most important factors to consider is the brokerage charges. In this section, I will compare the brokerage charges of ICICI Direct and HDFC Securities and help you make an infomed decision.
Brokerage Plans
ICICI Direct offers two brokerage plans – ICICI Neo Plan and I-Secure Plan. The ICICI Neo Plan charges a percentage-based brokerage they charge 0.55%, depending on the trading volume. The I-Secure Plan charges a fixed brokerage of 0.55% per trade.
HDFC Securities, on the other hand, offers three brokerage plans – Value Plan, Pro Plan, and Freedom Plan. The Value Plan charges a percentage-based brokerage, which ranges from 0.50% to 0.15%, depending on the trading volume. The Pro Plan charges a fixed brokerage of Rs. 0.03 per share. The Freedom Plan charges a flat brokerage of Rs. 999 per month.
Minimum Brokerage
ICICI Direct charges a minimum brokerage of Rs. 25 per trade, whichever is higher, for all the trades executed in the cash segment. For the derivatives segment, the minimum brokerage is Rs. 30 per trade.
HDFC Securities charges a minimum brokerage of 2.5% of the trade value or Rs. 25 per trade, whichever is lower, for all the trades executed in the cash segment. For the derivatives segment, the minimum brokerage is Rs. 100 per trade.
Hidden Charges
Both ICICI Direct and HDFC Securities do not charge any hidden charges. However, it is important to note that other charges, such as Securities Transaction Tax (STT), Goods and Services Tax (GST), stamp duty, and other statutory charges, apply to all stockbrokers in India.
ICICI Direct and HDFC Securities offer different brokerage plans with varying brokerage charges. Choosing a plan that suits your trading style and investment goals is important. Additionally, both stockbrokers charge a minimum brokerage, which is applicable for all the trades executed. Finally, no hidden charges are associated with ICICI Direct and HDFC Securities.
ICICI Direct vs HDFC Securities: Trading Platforms
As an investor, I understand the importance of having a reliable and user-friendly trading platform. In this section, I will compare the trading platforms of ICICI Direct and HDFC Securities, including their mobile apps and tools.
Trading Platform Comparison
ICICI Direct and HDFC Securities both offer trading platforms for desktop and mobile devices. However, there are some differences between the two platforms.
ICICI Direct’s trading platform, Trade Racer, is known for its speed and advanced features. It offers real-time data, customizable charts, and advanced order types. It also has a feature called Heat Maps, which visually represents the market trends. Trade Racer is available for both Windows and Mac users.
On the other hand, HDFC Securities’ trading platform, ProTerminal, is also a powerful platform that offers real-time data and advanced charting tools. It also offers a feature called Smart Order Routing, which helps investors get the best price for their trades. ProTerminal is available for Windows users only.
Mobile App
Both ICICI Direct and HDFC Securities offer mobile apps for iOS and Android devices. The mobile apps allow investors to trade on the go and monitor their portfolios from anywhere.
ICICI Direct’s mobile app, iDirect, is user-friendly and offers real-time market data, customizable watchlists, and advanced charting tools. It also offers a feature called Voice Order, which allows investors to place orders using voice commands.
HDFC Securities’ mobile app, Mobile Trading App, is also user-friendly and offers real-time market data, customizable watchlists, and advanced charting tools. It also offers a feature called One-Click Trading, which allows investors to place orders quickly and easily.
Tools
ICICI Direct and HDFC Securities offer various tools to help investors make informed investment decisions.
ICICI Direct offers a tool called Market Strategy, which provides investors with daily market insights and trading ideas. It also offers a tool called Model Portfolios, which provides investors with a range of pre-designed portfolios based on their investment goals.
HDFC Securities offers a tool called Market Pulse, which provides investors with real-time market data and news. It also offers a tool called Portfolio Tracker, which allows investors to track their portfolio performance and analyze their investments.
Both ICICI Direct and HDFC Securities offer powerful trading platforms and tools for investors. The choice between the two will depend on your personal preferences and investment goals.
ICICI Direct vs HDFC Securities: Account Comparison
When choosing between ICICI Direct and HDFC Securities, one of the most important factors to consider is the type of account you will be opening. In this section, I will compare both brokers‘ account types, fees & charges, and Account opening charges.
Account Types
ICICI Direct offers two Types of accounts: a 3-in-1 account and a standalone trading account. The 3-in-1 account includes a savings account, a Trading account, a Demat account, and a savings account, all linked together for seamless transactions. On the other hand, HDFC Securities also offers a 3-in-1 account that combines savings, trading, and demat accounts.
Fees & Charges
When it comes to fees and charges, ICICI Direct charges a flat brokerage fee of Rs. 20 per order on equity intraday, equity options, currency, and commodity derivative trading segments. HDFC Securities, on the other hand, has a fixed percentage brokerage fee of 0.50% for equity delivery and 0.05% for equity intraday. Additionally, HDFC Securities charges Rs. 20 per trade for equity options.
Both brokers have similar charges for other services like demat account maintenance and transaction charges. However, it is important to note that the fees and charges may vary depending on your account type.
Broker | Account Type | Brokerage Fee | Account Opening Fee |
---|---|---|---|
ICICI Direct | 3-in-1 account | Flat Rs. 20 per order | Free |
ICICI Direct | Standalone trading account | Flat Rs. 20 per order | Free |
HDFC Securities | 3-in-1 account | 0.50% for equity delivery, 0.05% for equity intraday, Rs. 20 per trade for equity options | Rs. 999 |
Account Opening Charges
ICICI Direct charges a one-time account opening fee of Rs. 975 for the 3-in-1 account and Rs. 500 for the standalone trading account. HDFC Securities, on the other hand, charges a one-time account opening fee of Rs. 999 for the 3-in-1 account.
To summarize, both ICICI Direct and HDFC Securities offer 3-in-1 accounts that combine savings, trading, and demat accounts. However, ICICI Direct charges a flat brokerage fee, while HDFC Securities has a fixed percentage brokerage fee. Additionally, the account opening charges for both brokers are similar, with HDFC Securities charging slightly more than ICICI Direct. It is important to consider your needs and preferences carefully before choosing between the two brokers.
Account Opening Charges | ICICI Direct | HDFC Securities |
---|---|---|
Trading Account | Free | Rs. 999 |
Demat Account | Free | Rs. 0 |
Annual Maintenance Charges | Rs. 300 from 2nd year | Rs. 750 |
ICICI Direct vs HDFC Securities: Investment Options
When it comes to investment options, both ICICI Direct and HDFC Securities offer a wide range of choices for their clients. This section will discuss the different investment options available and compare the two brokers.
Equity Delivery
Equity delivery refers to buying and holding shares for a long-term period. Both ICICI Direct and HDFC Securities offer equity delivery trading. However, ICICI Direct charges a flat brokerage fee of Rs. 25 per trade, while HDFC Securities charges a percentage-based brokerage fee ranging from 0.1% to 0.75% of the trade value.
Equity Intraday
Equity intraday refers to buying and selling shares within the same trading day. Both brokers offer equity Intraday trading, but ICICI Direct charges a flat brokerage fee of Rs. 20 per trade, while HDFC Securities charges a percentage-based brokerage fee ranging from 0.025% to 0.05% of the trade value.
Equity Futures
Equity futures are contracts that allow traders to buy or sell an underlying asset at a predetermined price and date in the future. Both brokers offer equity futures trading, but ICICI Direct charges a flat brokerage fee of Rs. 20 per trade, while HDFC Securities charges a percentage-based brokerage fee ranging from 0.05% to 0.75% of the trade value.
Equity Options
Equity options are contracts that give traders the right to buy or sell an underlying asset at a predetermined price and date in the future. Both brokers offer equity options trading, but ICICI Direct charges a flat brokerage fee of Rs. 20 per trade, while HDFC Securities charges a percentage-based brokerage fee ranging from 1% to 2.5% of the trade value.
Brokerage Charges | ICICI Direct Secure plan | HDFC Securities |
---|---|---|
Equity Delivery | 0.55% | 0.50% |
Equity Intraday | 0.275% | 0.05% |
Equity Futures | 0.050% | 0.05% |
Equity Options | Rs. 95 per lot | Rs. 100 per lot |
Commodity Trading
Commodity trading refers to buying and selling commodities such as gold, silver, and crude oil. Both brokers offer commodity trading, but ICICI Direct charges a flat brokerage fee of Rs. 20 per trade for Neo Plan, while HDFC Securities charges a percentage-based brokerage fee ranging from 0.03% to 0.05% of the trade value.
Currency Futures
Currency futures are contracts that allow traders to buy or sell a currency at a predetermined price and date in the future. Both brokers offer currency futures trading, but ICICI Direct charges a flat brokerage fee of Rs. 20 per trade for Neo Plan, while HDFC Securities charges a percentage-based brokerage fee ranging from 0.05% to 0.75% of the trade value.
Currency Options
Currency options are contracts that give traders the right to buy or sell a currency at a predetermined price and date in the future. Both brokers offer currency options trading, but ICICI Direct charges a flat brokerage fee of Rs. 20 per trade for Neo Plan, while HDFC Securities charges a percentage-based brokerage fee ranging from 1% to 2.5% of the trade value.
Both brokers offer a wide range of investment options, but ICICI Direct’s flat brokerage fee offers a more cost-effective solution for traders. However, HDFC Securities may be better for traders who prefer percentage-based brokerage fees.
ICICI Direct vs HDFC Securities: Support
When it comes to choosing a stockbroker, it’s important to consider the level of support they offer. In my experience, both ICICI Direct and HDFC Securities offer reliable customer service and live chat support.
Customer Service
ICICI Direct has a dedicated customer service team that is available via phone, email, and chat. Their support team is knowledgeable and responsive, and they are able to answer most questions quickly and efficiently. They also have a comprehensive FAQ section on their website that covers a wide range of topics, from account opening to trading.
HDFC Securities also offers excellent customer service, with a team of experts who are available via phone, email, and chat. Their website has a dedicated support page that includes a live chat feature and an extensive FAQ section covering everything from account opening to trading strategies.
Live Chat
ICICI Direct and HDFC Securities offer live chat support, which is a convenient way to get help quickly without waiting on hold or sending an email. In my experience, the live chat support offered by both brokers is fast and efficient, with knowledgeable support agents who are able to answer most questions quickly and accurately.
To compare the customer service and live chat support offered by ICICI Direct and HDFC Securities, I’ve created the following table:
Broker | Customer Service | Live Chat |
---|---|---|
ICICI Direct | Phone, email, chat | Yes |
HDFC Securities | Phone, email, chat | Yes |
Both ICICI Direct and HDFC Securities offer reliable support and customer service. Whether you prefer to get help via phone, email, or live chat, both brokers have you covered.
ICICI Direct vs HDFC Securities: Easy Way to Close Demat Account
ICICI Direct and HDFC Securities offer straightforward processes for closing a demat account. Ensure all paperwork is accurate, and dues are cleared before initiating the closure process with either brokerage. This will help you transition smoothly to a new brokerage or exit the stock market confidently.
Conclusion
After analyzing the features, benefits, and drawbacks of both ICICI Direct and HDFC Securities, I have come to some conclusions that might help you make an informed decision.
ICICI Direct is a full-service broker offering various investment options, including stocks, mutual funds, bonds, and more. It also has a user-friendly trading platform and mobile app, making it easy for investors to invest and trade. However, the brokerage charges of ICICI Direct are higher compared to HDFC Securities, and it requires a higher minimum deposit to open an account.
On the other hand, HDFC Securities is also a full-service broker offering various investment options, including stocks, mutual funds, bonds, and more. It has a lower brokerage charge compared to ICICI Direct, making it a more cost-effective option for investors. HDFC Securities also has a unique 3-in-1 account feature, which integrates the trading account with an existing HDFC bank savings account and an existing Demat account.
ICICI Direct is comparatively better than HDFC Securities in terms of trading applications and charges. The platform is also pretty reliable.
Frequently Asked Question
Can I open a demat account directly with ICICI Direct and HDFC Securities?
Yes, both ICICI Direct and HDFC Securities offer the facility to open a direct demat account with them. A direct demat account allows investors to hold securities in electronic form without involving any third-party broker.
What are the brokerage charges for currency futures and currency options trading with ICICI Direct and HDFC Securities?
The brokerage charges for currency futures and currency options trading may vary between ICICI Direct and HDFC Securities. Investors can check their respective websites or contact customer support to find the specific brokerage charges.
Which one is better, a discount broker or a full-service broker like ICICI Direct and HDFC Securities?
The choice between a discount broker and a full-service broker depends on individual preferences and requirements. Discount brokers typically offer lower brokerage fees and focus on self-directed trading, while full-service brokers like ICICI Direct and HDFC Securities provide additional services like research, advisory, and personalized customer support.
What is the trading account opening fee with ICICI Direct and HDFC Securities?
The trading account opening fee may vary between ICICI Direct and HDFC Securities. Users can visit their respective websites or contact customer support for the latest information on account opening charges.
Do ICICI Direct and HDFC Securities offer direct mutual fund plans for investment?
Yes, both ICICI Direct and HDFC Securities offer direct mutual fund plans. These plans allow investors to invest directly with the mutual fund companies, avoiding distributor commissions and potentially leading to lower expense ratios.
Can I trade in commodity options through ICICI Direct and HDFC Securities platforms?
Yes, both ICICI Direct and HDFC Securities provide facilities for trading in commodity options. Commodity options enable traders to speculate on the price movements of various commodities such as gold, silver, crude oil, etc.