ICICI Securities, one of the most admired stock brokerage house in the country has recently launched a zero brokerage plan with the name ‘ICICIdirect Neo’. This newly launched plan is targeted at traders offering limitless trading with zero brokerage on all Future trades and straight INR 20 per order in case of Margin and Options. Read our detail review on ICICI Direct Neo to get complete information about it.
ICICI Direct Neo Plan – A Zero Brokerage Plan
|Futures Trading||Free or zero brokerage|
|Options Trading||Standard brokerage – Rs. 20 per order|
|Equity intraday trading||Rs. 20 per order|
|Currency Futures & options||Rs. 20 per order|
|Commodity Futures & options||Rs. 20 per order|
Plan Subscription Charges
If you’re a customer of ICICI Securities, you can subscribe to this plan at a subscription fee of Rs. 299+ 18% GST.
Additional Features of ICICI Direct Neo
ICICI Direct Neo customers will get a wide range of additional unique features like Instant Liquidity, where customers can get quick cash within 30 minutes of selling the stocks as per the preferred plan.
Besides, they will also get unrestricted access to ICICI Direct’s award winning research with more than 300 companies under basic coverage, Access to One-Click Portfolios – clusters of research based theme-based stocks or MFs, Access to proprietary and third party trading instruments to avail the best out of any market situations and Margin Trading Funding (MTF) at an interest rate of only 8.9 % per annum, as per the picked plan.
About ICICI Securities
ICICI Securities Limited (I-Sec) is a subsidiary of ICICI Bank Ltd. The company started its operations in May 1995 and ceases to expand its operation through extending its client base and offering a wide range of services.
I-Sec operates www.icicidirect.com, a virtual financial superstore, meeting the three need groups of its clients- investments, protection, and borrowing. Banking on its three lines of businesses — broking, offering of financial products, and investment banking– I-Sec serves customers varying from the retail and institutional investors to businesses to high net-worth people to public institutions.
According to Vijay Chandok, Managing Director & Chief Executive Officer of ICICI Securities, the introduction of ICICIdirect Neo can be considered as a reaction to the feedback of the brokerage accumulated from their trading customers. This newly launched plan boasts of a zero brokerage on all futures trades, and a standard ₹20 per order as brokerage on margin and options trading. ICICIdirect Neo is a customized solution for the customers and this will complement their search for maximizing profits. It’s a very strong proposition for the trading community who can enjoy the combination of low, he added.
Salient features & Benefits of ICICI Direct Neo Brokerage Plan
- Instant liquidity, where clients receive money within 30 minutes of selling stocks basis their chosen plan
- Access to ICICI direct’s examination with more than 300 organizations under fundamental inclusion
- Access to One-Click Portfolios – groups of exploration customized subject-based (major or specialized or a mix of both) stocks or MFs
- Access to special and external exchanging apparatuses to get the best out of any market scenarios
- Margin Trading Funding (MTF) at a financing expense of just 8.9% per annum, according to picked plan
Frequently asked questions about ICICI Direct Neo Plan
Ques-What is the newly launched ICICI Direct Neo Plan?
ICICI Direct Neo is recently launched plan by ICICI Securities which offers Futures trading at Zero brokerage charges & INR 20 per order in case of Margin and Options. Any ICICI Securities customer can choose to register for the plan at a subscription fee of Rs. 299 + GST.
Ques-How can I subscribe to ICICI Direct Neo Brokerage Plan?
Answer- It is very simple, if you’re a ICICI Direct customer, you can:
Login to your ICICIdirect.com account.
Go to “settings” and click on the “ICICI Direct Neo”.
Here, you can feasibly subscribe to the I-sec Neo pricing scheme.
Ques-What are minimum brokerage levied under ICICIdirect Neo Plan?
Answer- The minimum brokerage charges for trading in the equity intraday sector for a transaction cap of up to Rs. 40,000 will be 0.05% of the transaction worth, or Rs. 20 per order, whichever falls lower.
Ques- Is free subscription available for ICICI Direct Neo Plan?
Answer- No, one needs to pay a one-time subscription fee of Rs. 299 along with 18% GST to subscribe for this plan.