Axis Direct vs ICICI Direct
A full side-by-side comparison of brokerage charges, demat AMC, margin, platforms, features and user ratings — updated for 2026.
Axis Direct
VS
ICICI Direct
Axis Direct vs ICICI Direct — quick verdict
Choose Axis Direct if
You want research and offline support
Invest Right. Invest Now.
Choose ICICI Direct if
You want research and offline support
One Account. Infinite Opportunities.
Company overview
Axis Direct is a full-service broker incorporated in 2006; ICICI Direct is a full-service broker incorporated in 1995.
| Parameter | Axis Direct | ICICI Direct |
|---|---|---|
| Type of broker | Full-Service Broker | Full-Service Broker |
| Exchange membership | NSE · BSE · MCX · MSEI | NSE · BSE · MCX · NCDEX |
| Year of incorporation | 2006 | 1995 older |
| Number of branches | 4,800+ wider | 3,000+ ICICI Bank Branches & Customer To |
| Active clients | 14 Lakh+ | ~19.80 Lakh+ larger |
Charges & AMC
Account-opening and maintenance charges for Axis Direct and ICICI Direct compared side by side.
| Parameter | Axis Direct | ICICI Direct |
|---|---|---|
| Trading a/c opening | ₹0 (Online) | ₹0 (Online) |
| Trading a/c AMC | ₹0 | ₹0 |
| Demat a/c opening | ₹0 | ₹0 |
| Demat a/c AMC | ₹0 (1st Year), ₹750 + GST per year thereafter | ₹300 + GST per year lower |
| DP charges (per ISIN, sell) | ₹15.93 per debit transaction (including GST) lower | NSDL – ₹20 + GST (first debit), ₹4 + GST (subsequent same-day debit); CDSL – ₹20 + GST per scrip sold per day |
Brokerage charges
How Axis Direct and ICICI Direct price each trading segment, per executed order.
| Parameter | Axis Direct | ICICI Direct |
|---|---|---|
| Equity Delivery | 0.50% | ₹20 per order (or plan-specific rate) |
| Equity Intraday | 0.05% | ₹20 per order |
| Equity Futures | 0.05% | ₹20 per order |
| Equity Options | ₹20 per executed order | ₹20 per order |
| Currency F&O | 0.05% | ₹20 per order |
| Commodity F&O | 0.05% | ₹20 per order |
| Call & Trade | ₹20 per executed order | ₹50 per order |
Transaction charges (exchange turnover)
Exchange turnover and clearing charges passed through by Axis Direct and ICICI Direct, per segment.
| Parameter | Axis Direct | ICICI Direct |
|---|---|---|
| Equity Delivery | NSE: 0.00297% • BSE: 0.00375% | NSE: 0.00297% + IPFT 0.00010% • BSE: 0.00375% |
| Equity Intraday | NSE: 0.00297% • BSE: 0.00375% | NSE: 0.00297% + IPFT 0.00010% • BSE: 0.00375% |
| Equity Futures | NSE: 0.00173% | NSE: 0.00173% + IPFT 0.00010% • BSE: 0.00000% |
| Equity Options | NSE: 0.03503% (on premium) | NSE: 0.03503% (on Premium) + IPFT 0.00050% • BSE: 0.03250% (on Premium) |
| Currency Futures | NSE: 0.00035% | NSE: 0.00012% • BSE: 0.00005% |
| Currency Options | NSE: 0.03110% (on premium) | NSE: 0.03250% (on Premium) • BSE: 0.00100% (on Premium) |
| Commodity Futures | MCX: 0.00210% | — |
| Commodity Options | MCX: 0.04180% (on premium) | — |
| Commodity Futures (MCX) | — | 0.00210% |
| Commodity Options (MCX) | — | 0.04180% (on Premium) |
Demat & DP charges
Depository (demat) charges for Axis Direct and ICICI Direct — AMC, debit transactions, pledging and remat.
| Parameter | Axis Direct | ICICI Direct |
|---|---|---|
| Demat Account Opening | ₹0 | ₹0 (Online) |
| Annual Maintenance Charges (AMC) | ₹0 (1st Year), ₹750 + GST per year thereafter | ₹300 + GST per year |
| Debit Transaction Charges | ₹15.93 per debit transaction (including GST) | — |
| Pledge / Unpledge Charges | ₹50 + GST per request | — |
| Dematerialisation (Demat) | ₹50 per certificate + GST | — |
| Rematerialisation (Remat) | ₹50 per certificate + GST | — |
| Failed Transactions | Nil | — |
| DP Charges (NSDL) | — | ₹20 + GST per scrip for the first debit instruction and ₹4 + GST for subsequent debit instructions in the same scrip on the same day |
| DP Charges (CDSL) | — | ₹20 + GST per scrip sold per day (includes depository charges) |
| Call & Trade (Equity & Derivatives) | — | ₹50 per order |
| Call & Trade (Commodity) | — | ₹50 per order |
| Pledge Charges (MTF) | — | ₹25 + GST per pledge instruction |
| Pledge Charges (Shares as Margin - SAM) | — | ₹29 + GST per pledge instruction |
| Pledge Charges (CUSPA) | — | ₹29 + GST per pledge instruction |
Margin & leverage (MTF)
Intraday and delivery margin / leverage offered by Axis Direct and ICICI Direct.
| Parameter | Axis Direct | ICICI Direct |
|---|---|---|
| Equity Delivery | 100% of trade value (1x) | Up to 100% of trade value (1x) |
| Equity Intraday | VAR + ELM Margin (Up to 5x*) | As per SEBI Peak Margin Rules (Up to 5x*) |
| Equity Futures | SPAN + Exposure Margin (As per available margin) | SPAN + Exposure Margin (As per Exchange) |
| Equity Options (Sell) | Premium Value (Not Applicable) | Premium + Applicable Margin (As per Exchange) |
| Currency Futures & Options | SPAN + Exposure Margin (As per available margin) | Exchange Prescribed Margin (As per Exchange) |
| Currency Futures & Options | SPAN + Exposure Margin (As per available margin) | Exchange Prescribed Margin (As per Exchange) |
| Commodity Futures & Options | SPAN + Exposure Margin (As per available margin) | — |
Features & account
Account type and feature availability across Axis Direct and ICICI Direct.
| Parameter | Axis Direct | ICICI Direct |
|---|---|---|
| 3-in-1 account | ✓ Yes | ✓ Yes |
| Automated / API trading | ✕ No | ✓ Yes better |
| Margin Trading (MTF) | ✓ Yes | ✓ Yes |
| Trading in SME shares | ✓ Yes | ✓ Yes |
| Trading platforms | Axis Direct Web, Axis Direct Mobile App, Fast Trade | ICICIdirect Web, ICICIdirect Mobile App, Trade Racer, Breeze API |
| Intraday square-off | 3:15 PM | 3:15 PM |
| Other | Research Recommendations, Smart Edge Reports, Basket Orders, Price Alerts, Advanced Charting, Option Chain, Margin Trading Facility (MTF), Portfolio Tracker, Watchlists | 3-in-1 Account, Research Reports, Stock SIP, Basket Orders, MTF, Loan Against Securities |
Trading platforms & apps
Trading terminals, web platforms and mobile apps offered by Axis Direct and ICICI Direct.
| Parameter | Axis Direct | ICICI Direct |
|---|---|---|
| Trading platforms offered | Axis Direct Web, Axis Direct Mobile App, Fast Trade | ICICIdirect Web, ICICIdirect Mobile App, ICICI Direct Markets App, Trade Racer |
| Number of platforms | 3 | 4 more choice |
| Platforms (summary) | Axis Direct Web, Axis Direct Mobile App, Fast Trade | ICICIdirect Web, ICICIdirect Mobile App, Trade Racer, Breeze API |
| Mobile / desktop apps | Web Trading Platform, Mobile Trading App, Desktop Trading Software | Web, Mobile, Desktop |
User ratings
User ratings for Axis Direct and ICICI Direct across the key parameters.
| Rated on | Axis Direct | ICICI Direct |
|---|---|---|
| Fees | 4 | 4.1 better |
| Brokerage | 4.1 | 4.2 better |
| Trading platform | 4.6 | 4.8 better |
| Customer service | 4.5 | 4.7 better |
| Research | 4.8 | 4.9 better |
| Overall | 4.4 | 4.6 better |
Investment options
Which investment products Axis Direct and ICICI Direct let you access.
| Parameter | Axis Direct | ICICI Direct |
|---|---|---|
| Stocks / Equity | ✓ Yes | ✓ Yes |
| Commodity | ✓ Yes | ✓ Yes |
| IPO | ✓ Yes | ✓ Yes |
| Mutual Funds | ✓ Yes | ✓ Yes |
| Bonds / NCD | ✓ Yes | ✓ Yes |
Order types offered
Advanced order types supported by Axis Direct and ICICI Direct.
| Parameter | Axis Direct | ICICI Direct |
|---|---|---|
| Bracket Order | ✕ No | ✕ No |
| Cover Order | ✕ No | ✕ No |
| BTST | ✓ Yes | ✓ Yes |
| After Market (AMO) | ✓ Yes | ✓ Yes |
| GTC / GTT | ✓ Yes | ✓ Yes |
Safety & credibility
SEBI registration, financial strength and complaint record for Axis Direct and ICICI Direct.
| Parameter | Axis Direct | ICICI Direct |
|---|---|---|
| SEBI registration | INZ000250138 | INZ000183631 |
| NSE member code | 12798 | 07730 |
| Year of incorporation | 2006 | 1995 longer track record |
| Net worth | ₹1,639.08 Cr | Not Separately Disclosed (Subsidiary of ICICI Bank Limited) |
| Exchange memberships | NSE · BSE · MCX · MSEI | NSE · BSE · MCX · NCDEX |
| Latest complaint ratio | 0.002% fewer complaints | 0.0031% |
Complaints record
Exchange complaint data for Axis Direct and ICICI Direct — the ratio matters more than the raw count.
| Parameter | Axis Direct | ICICI Direct |
|---|---|---|
| Latest financial year | 2025–26 | Latest Available |
| Exchange | NSE | NSE |
| Active clients | 14,18,214 | 19,60,293 larger base |
| Complaints filed | 22 | 61 (Pending SCORES 2.0) |
| Complaint ratio | 0.002% fewer complaints | 0.0031% |
Pros & cons
The main advantages and drawbacks of each broker.
Axis Direct
▲ Pros
- ✓ Backed by Axis Bank, one of India's leading private sector banks.
- ✓ Convenient 3-in-1 Account for seamless banking and investing.
- ✓ Comprehensive research reports and expert investment recommendations.
- ✓ Supports stocks, F&O, commodities, mutual funds, IPOs, ETFs, bonds, and more.
- ✓ Advanced web and mobile trading platforms.
- ✓ Strong customer support with a nationwide branch network.
▼ Cons
- ✕ Brokerage charges are higher than most discount brokers.
- ✕ Annual Demat AMC is applicable after the introductory period.
- ✕ Premium research and advisory services may be suited more for long-term investors.
- ✕ Some brokerage plans vary based on customer profile and relationship.
- ✕ Call & Trade charges are applicable.
- ✕ Budget-conscious traders may find discount brokers more economical.
ICICI Direct
▲ Pros
- ✓ Integrated 3-in-1 Account with ICICI Bank.
- ✓ Access to Equity, F&O, Currency and Commodity trading.
- ✓ Strong in-house research and investment recommendations.
- ✓ Multiple trading platforms for beginners and active traders.
- ✓ Wide range of investment products under one account.
- ✓ Backed by the trusted ICICI Group.
- ✓ Digital account opening with online KYC.
- ✓ Extensive customer support network across India.
▼ Cons
- ✕ Brokerage charges may be higher than discount brokers.
- ✕ Some advanced features are available only under specific brokerage plans.
- ✕ Annual Demat AMC is applicable.
- ✕ Certain services attract additional transaction charges.
- ✕ Trading costs may vary depending on the selected brokerage plan.
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