ICICI Direct vs Groww Review 2024 | Which Is Better
ICICI Direct vs Groww
ICICI direct, founded in 1994, is a full-service broker. It offers trading on the BSE and NSE , It offers trading on the BSE and NSE. It operates 154 branches across India. Groww , founded in 2016, is a discount broker. It supports trading on the NSE and BSE. It has 0 branches in India
ICICI Direct
One of the biggest retail stock brokers in India is ICICIdirect. It is a member of the Group ICICI. More than 50 lakh consumers can take advantage of its online trading and investing services. Equity, commodity, and currency trading at the BSE, NSE, and MCX are among the services provided. The company also provides wealth products, home loans, loans against securities, fixed deposits, bonds, NCDs, mutual funds, and initial public offerings (IPOs). The most well-liked offering from ICICI Direct is its 3-in-1 account. In addition to many other features and products, ICICIdirect offers One Click Equity, Margin Trading Funding (MTF), Smart Trading features, Systematic Equity Plan, and easy equity
investment.
Groww
Groww is the brand name for Nextbillion Technology Private Limited, aSEBI-registered stockbroker and member of the NSE and BSE. Groww, founded in2016, began as a direct mutual fund investing platform. In the mid-2020s, Growwexpanded its product offering to include equity trading. Other investing alternativesavailable to users include digital gold, US stocks, and fixed deposits. Groww chargesa lesser fee of Rs 20 or 0.05% each performed deal. You pay a maximum of Rs 20as brokerage for an order, regardless of quantity or value. Groww provides freemutual fund services, including no expenses for investing or redeeming mutualfunds.Groww’s proprietary trading platform, Groww (web and mobile trading app),provides its investors with a flawless trading experience.
| ICICI Direct | Groww | |
| Establishment Year | 1994 | 2016 |
| Founder | Vjay Chandok | Pravin jadhav |
| Exchange of Membership | BSE, NSE | NSE, BSE SENSEX & NIFTY |
| Broker Type | Full Service | Discount Broker |
| Company Type | Public | Private |
| Branches | 154 | Not have any branches,it is a online trading platform,head office banglore India |
ICICI Direct vs Groww Charges
| Charges | ICICI Direct | Groww |
| Trade and Call Charge | Rs 50 per trade | Additional Rs 50 per order |
| Minimum Brokerage Charges | Rs 35 per trade (I-Secure Plan) | Rs 20 or 0.05 % per order( whichever is lower) |
| Other Charges | Margin Trading Interest: 0.025% Per day | NA |
ICICI Direct vs Groww Offers
| Offers | ICICI Direct | Groww |
| Free AMC | ||
| Free Brokerage | ||
| Free Account Opening Charge | ||
| Flat Brokerage Charges | Yes But limited | |
| Flexible Brokerage Charges | ||
| Free Intraday Charges | ||
| Delivery Charges | ||
| Margin Funding and Pledging | ||
| Free F&O Trading | ||
| Refferal Offers | Rs. 500 Per Client | Not Available |
| Zero brokerage for Loss Making Trade | ||
| Brokerage Cashback | ||
| Free Trading Calls | ||
| Free Research Report | ||
ICICI Direct vs Groww Product Provided
| Type | ICICI Direct | Groww |
| Equity Delivery | ||
| Equity Intraday | ||
| Equity Option | ||
| Equity Future | ||
| Currency Option | ||
| Currency Future | ||
| Commodity Options | ||
| Commodity Future | ||
| Mutual Funds | ||
| Foreign stocks | ||
| Banking | ||
| Insurance | ||
| Digital Gold | ||
| Govt. Bonds | ||
| Corporate Bonds | ||
ICICI Direct vs Groww Advisory Services Provided
| Type | ICICI Direct | Groww |
| IPO Service | ||
| Weekly and Monthly Review | ||
| Daily Stock Picks and Stock Tips | ||
| PMS or PCG | ||
| Trading Institution | ||
| Demat and Trading Service | ||
| Intraday Service | ||
| Share Pledging | ||
| NRI Service | ||
| 3 In 1 Account | ||
| Company and Annual Report | ||
| Stock Recommendation and Research report | ||
Features Of ICICI Direct vs Groww
| Features | ICICI Direct | Groww |
| Chart | ||
| Automated Trading | ||
| 3 in 1 Account | ||
| Sms Alerts | ||
| Margin Against Shares (Equity Cash) | ||
| Margin Against Shares (Equity F&O) | ||
| Online Portfolio | Groww | |
| Online Demo | ||
| Intraday Square-Off Time | 3:50 PM | 3:10 PM |
| Global Indices | ||
| Real Time Update | ||
| Stock Tips | ||
| Multi Profile Management | ||
| Interactive Charts | ||
| Customised Recommendation | ||
| Online MF Buy | ||
ICICI Direct vs Groww Demat And AMC Charges
The opening fee for an ICICI direct trading account is Rs 0 (free), But an HDFC Securities account requires Rs 999. The AMC charges for ICICIdirect Demat Accounts are Rs 300 (beginning with the second year) and Rs 750 for . While Groww has Rs.0 annual maintenance cost (AMC) for trading accounts, butcharges a ₹0 yearly fee for DEMAT accounts. Many investors favour itbecause of its competitive cost, user-friendly layout, and excellent customer service.
| Charges | ICICI Direct | Groww |
| Demat Account Opening Charges | Rs.0 (Free) | Rs 0 (Free) |
| Demat Account AMC Charges | Rs. 300 (from 2nd year) | Rs 0 (Free) |
| Trading Account Opening Charges | Rs. 0 (Free) | Rs 0 (Free) |
| Trading Account AMC Charges | Rs. 0 (Free) | Rs. 0 (Free) |
ICICI Direct vs Groww Brokerage Charges
ICICIdirect costs 0.55% for equity broking and Rs 20 for intraday orders,whereas Groww costs Rs 20 per completed transaction or 0.05%, whichever is lesser , .Below the table shows brokerage charges of both the platforms.
| Brokerage Charges | ICICI Direct | Groww |
| Brokerage Plan | Neo Plan | NA |
| Equity Delivery | 0.27% of Total Transaction | Rs.20 per Trade or 2.5%, whichever is low |
| Equity Intraday | Rs. 20 per Trade | Rs.20 per Trade or 0.05%(whichever is low) |
| Equity Option | Rs. 20 per Trade | Rs 20 per executed plan/order |
| Equity Future | Free | Rs 20 per executed plan/ order or .03% whichever is lesser |
| Currency Option | Rs. 20 per Trade | Rs 20 per executed plan/order |
| Currency Future | Rs. 20 per Trade | Rs 20 per executed plan/order or .05% whichever is lesser |
| Commodity Option | Rs. 20 per Trade | Rs 20 per executed plan/order |
| Commodity Future | Rs. 20 per Trade | Rs 20 per executed plan/ order or .05% whichever is lesser |
ICICI Direct vs Groww Leverage (Margin)
ICICI direct’s margin for intraday trading is up to 20% of the transaction value (5x leverage) based on the stock, whereas while the Groww margin for intraday cash is likewise up to 20% of the trade value (5x leverage) . Below the table shows leverage margin of both platform.
| Leverage | ICICI Direct | Groww |
| Equity Delivery | 100% of trade value (1x leverage) | 100% of trade value (1x leverage) |
| Equity Intraday | Up to 20% of trade value (5x leverage) | Up to 20% of trade value (5x leverage) |
| F&O (Currency, Equity, Commodity) | 100% of NRML margin (Span + Exposure) (1x leverage) | 100% of NRML margin (Span + Exposure) (1x leverage) |
ICICI Direct vs Groww Pros And Cons
Pros:
| ICICI Direct | Groww |
| 1)Offers a low bandwidth website that performs effectively on sluggish internet connections. 2) Provides a 3-in-1 account that simplifies stock market investing for novice investors. 3) Several investment possibilities are offered through a single platform. 4) GTC (good till cancellation) and off-market hours order placement facility is very useful. | 1)No setup costs for accounts. NoUpkeep Fees. 2)A direct mutual fund platform thatincreases your returns by 1.5%. 3)Free investing in mutual funds with noadditional fees. 4)E-books, resources, and blogs thatoffer stock market information and fundamentals to assist investors inmaking well-informed decisions. 5)Instantaneous account openingwithout paper work and onlineapplication for an IPO. 6)Digital gold and US stocks may beinvested in online using the in-housebrokerage calculator. Additional goods(FD, derivatives) in the works. |
Cons:
| ICICI Direct | Groww |
| 1)Minimum broking’ is set at an extremely high Rs 35 per trade, or 2.5% of the deal amount, whichever is Also There have been reports of a website that performs poorly during business hours. 2) A Demat account is required. 3) IF the broking paid in a month is less than Rs 750, the Trading Terminal (Trade Racer) costs Rs 75 per month. 4) Compared to most Indian retail brokers, ICICI Security charges the highest broking. 5) It charges Call & trade cost extra Rs 50 per trade in Neo/Prime Plans | 1)Restricted investment goods withoutthe ability to trade in the currency,commodities, or derivatives (futures &options) segments at this time. 2)Trade and No Call services alsoThere is no branch support providedand it doesn’t offer research reports,stock suggestions, orrecommendations. 3)Doesn’t provide SME share trading. 4)No facility for margin trading with Nomargin required against shares. 5)Not accessible are advanced ordertypes like BO, CO, AMO, and GTT. 6)Do not offer NRI Trading.7)Branch support not available.. |
ICICI Direct vs Groww Transactions Charges
ICICI direct transaction charges for options are NSE Rs 5000 per crore (0.05%) | BSE Rs 3700 per crore (0.037%) (based on premium). Firstly the transaction charges of GROWW is Flat fee of ₹ 20 or 0.05% (whichever is less) for each executed order in Intraday Commodities, Currency, and Equities Trading , also The exchange costs for options on Groww are as follows: NSE Rs 325 per crore (0.00325%) | BSE Rs 375 per crore (0.00725%) (plus premium). The table shows some of its transaction charges:
| Transaction Charges | ICICI Direct | Groww |
| Equity Delivery | 0.00325% (NSE) & As per Stock (BSE) | NSE Rs 325 per Cr (0.00325%) | BSE Rs 375 per Cr (0.00375%) (Each Side) |
| Equity Intraday | 0.00325% (NSE) & As per Stock (BSE) | NSE Rs 325 per Cr (0.00325%) | BSE Rs 375 per Cr (0.00375%) (Sell Side) |
| Equity Option | 0.053% (on premium) | NSE Rs 5000 per Cr (0.05%) | BSE Rs 3750 per Cr (0.0375%) (On Premium). |
| Equity Future | 0.0019% (NSE & BSE) | NSE Rs 190 per Cr (0.0019%) | BSE Rs 0 |
| Currency Option | 0.035% (NSE) & 0.001% (BSE) | NA |
| Currency Future | 0.0009% (NSE) & 0.00022% (BSE) | NA |
| Commodity Option | 0.05% (Non Agri) | NA |
| Commodity Future | 0.0021% (Non-Agri) / 0.006% (Agri) / 0.0005% (Special) | NA |
Complaints Of ICICI Direct vs Groww
The table below shows Total Complaints Lodged, Resolved and their percentage.
| Complaints | ICICI Direct | Groww |
| Total Complaints Lodged | 400 | 180 |
| Total Complaints Resolved | 335 | 162 |
| % Of Total Complaints Resolved | 85.62% | 86.30% |
| Non Actionable Complaints | 18 | 9 |
| % Of Non Actionable Complaints | 4.00% | 5.0% |
Review Comparison Of ICICI Direct vs Groww By Customer
CICI direct is rated 3.3 of 5 , whereas Groww is rated 3.4 of 5
| Rating | ICICI Direct | Groww |
| Customer Services | 7/10 | 7.5/10 |
| Fees | 6 /10 | 7.5/10 |
| Brokerage Charges | 6.5/10 | 8/10 |
| Trade and Call Charges | 8/10 | 6/10 |
| Research Capabilities | 7.5/10 | 6/10 |
| Overall Rating | 7/10 | 7.5/10 |
Conclusion: Both ICICI Direct is India’s major broking houses, providing comprehensive trading and investment services. ICICI Direct offers a user-friendly platform, substantial research reports, and excellent customer service. However, it has considerably higher broking fees. ,Groww is the best alternative because it offers a wide selection of investment possibilities, sophisticated research tools, and affordable brokerage costs. Groww is ideal for novices and those who value simplicity and convenience of use in their investing journey,. Finally, the decision is based on personal objectives such as cost, service quality, and platform usability.
Customer Care Number/Email
ICICI Direct : +91 1860123112
Groww :- +91 9108800000
Client can contact this number for clearing your doubt.
Support Email ICICI Direct : helpdesk@icicidirect.com
Groww Support Email : Support@Groww.com
Client can contact this email for clearing your doubt.
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