ICICI Direct vs Upstox Review 2024 | Which Is Better
ICICI Direct vs Upstox
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. Upstox , founded in 2009, is a discount broker. It supports trading on the NSE and BSE. It has 4 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.
Upstox
The Upstox trading platform provides trading, analysis, charting, and avariety of other advanced trading capabilities. This platform makes it simple to placeorders using mobile devices and online browsers. Upstox’s trading platform is basedon Omnisys NEST OMS (Order Management System) and RMS (Risk ManagementSystem). Upstox Pro allows you to trade equity F&O, equity intraday, commodities,and currency derivatives. Upstox Pro is the premium version of Upstox fortraders.Investors such as GVK Davix, Kalaari Capital, and Ratan Tata supportUpstox. UPSTOX established in 2009 ( then known as RKSV)..
ICICI Direct vs Upstox Charges
ICICI Direct vs Upstox Offers
ICICI Direct vs Product Product Provided
ICICI Direct vs Upstox Advisory Services Provided
Features Of ICICI Direct vs Upstox
ICICI Direct vs Upstox 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 Upstox 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 | Upstox |
| 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 Upstox Brokerage Charges
ICICIdirect costs 0.55% for equity broking and Rs 20 for intraday orders,whereas Upstox costs Rs 20 per completed transaction or 0.2.5%, whichever is lesser. Below the table shows brokerage charges of both the platforms.
ICICI Direct vs Upstox 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 Upstox offers up to 20% of the trade value (5x leverage) for intraday cash
transactions, whereas One margin for intraday trading allows up to 20% of the trade value
(5x leverage) depending on the stock . Below the table shows leverage margin of both platform.
ICICI Direct vs Upstox Pros And Cons
Pros:
| ICICI Direct | Upstox |
| 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)Brokerage for all other areas,including equities delivery, is flat at Rs20 per deal. 2)Provide mutual funds directly. Asingle software for commodities,currency, and stock trading. 3)There is no account opening cost.Investment in mutual funds requiresno brokerage. 4)For slabs of Rs 40,000, the MarginTrading Facility (MTF) is offered at aninterest rate of Rs 20 per day. 5)There is a Margin Against Share.Bonds, NCDs, FPOs, and IPOs mayall be done online. 6)Orders that are Good-Till-Triggered(GTT) are accessible. 7)Minimal brokerage charges:Upstox helps traders save moneyon transaction costs by providingcompetitive brokerage prices. |
Cons:
| ICICI Direct | Upstox |
| 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)Doesn’t give trading strategies thatare infinite and does not providemoney for margin on deliverytransactions. 2)Does not provide recommendationsor stock suggestions. 3)The brokerage cost for equitydelivery is Rs 20 per deal. Equitydelivery trades are offeredbrokerage-free by other brokers, suchas Zerodha. doesn’t give tradingstrategies that are infinite. 4)Not providing a three-in-oneaccount. lacks round-the-clock clientservice. 5)Does not provide Demat and NRITrading accounts and does notprovide BTST not providing digitalgold ,call-and-trade charge of Rs 20 isadded to each executed order. |
ICICI Direct vs Upstox 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 UPSTOX 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 Upstox are as follows: NSE Rs 5000 per crore (0.0505%) BSE Rs 3750 per crore (0.005%) (plus premium). The table shows some of its transaction charges:
Complaints Of ICICI Direct vs Upstox
The table below shows Total Complaints Lodged, Resolved and their percentage.
| Complaints | ICICI Direct | Upstox |
| Total Complaints Lodged | 400 | 289 |
| Total Complaints Resolved | 335 | 257 |
| % Of Total Complaints Resolved | 85.62% | 86.30% |
| Non Actionable Complaints | 18 | 30 |
| % Of Non Actionable Complaints | 4.00% | 9.37% |
Review Comparison Of ICICI Direct vs Upstox By Customer
CICI direct is rated 7 of 10 , whereas Groww is rated 8 of 10
| Rating | ICICI Direct | Upstox |
| Customer Services | 7/10 | 7.5/10 |
| Fees | 6 /10 | 8/10 |
| 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 | 8/10 |
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. Upstox is praised for its low-cost architecture, intuitive user interface, and cutting-edge technologies like the Kite platform. It is especially
appealing to traders who are tech-savvy yet cost-conscious. Though both sites are trustworthy and regulated, the decision comes down to personal preferences: Upstox offers affordable costs and cutting-edge technology,. Finally, the decision is based on personal objectives such as cost, service quality, and platform usability.
Customer Care Number/Email
ICICI Direct : +91 1860123112
Upstox : 022-41792999
Client can contact this number for clearing your doubt.
Support Email ICICI Direct : helpdesk@icicidirect.com
Upstox Support Email:- support@upstox.com
Client can contact this email for clearing your doubt.
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