FYERS Securities vs ICICI Direct

A full side-by-side comparison of brokerage charges, demat AMC, margin, platforms, features and user ratings — updated for 2026.

FYERS Securities
FYERS Securities
Discount Broker · since 2015
VS
ICICI Direct
Full-Service Broker · since 1995
ICICI Direct

FYERS Securities vs ICICI Direct — quick verdict

Choose FYERS Securities if

You want low-cost, self-directed trading

Built for Those Who Are Born to Trade.

Choose ICICI Direct if

You want research and offline support

One Account. Infinite Opportunities.

Company overview

FYERS Securities is a discount broker incorporated in 2015; ICICI Direct is a full-service broker incorporated in 1995.

ParameterFYERS SecuritiesICICI Direct
Type of broker Discount Broker Full-Service Broker
Exchange membership NSE · BSE · MCX NSE · BSE · MCX · NCDEX
Year of incorporation 2015 1995 older
Number of branches 98+ 3,000+ ICICI Bank Branches & Customer To wider
Active clients 10 Lakh+ ~19.80 Lakh+ larger

Charges & AMC

Account-opening and maintenance charges for FYERS Securities and ICICI Direct compared side by side.

ParameterFYERS SecuritiesICICI Direct
Trading a/c opening ₹0 ₹0 (Online)
Trading a/c AMC ₹0 ₹0
Demat a/c opening ₹0 ₹0
Demat a/c AMC ₹0 lower ₹300 + GST per year
DP charges (per ISIN, sell) ₹12.5 + GST per ISIN on sell transactions lower NSDL – ₹20 + GST (first debit), ₹4 + GST (subsequent same-day debit); CDSL – ₹20 + GST per scrip sold per day

Brokerage charges

How FYERS Securities and ICICI Direct price each trading segment, per executed order.

ParameterFYERS SecuritiesICICI Direct
Equity Delivery ₹0 (Free) ₹20 per order (or plan-specific rate)
Equity Intraday ₹20 or 0.03% per executed order (whichever is lower) ₹20 per order
Equity Futures ₹20 or 0.03% per executed order (whichever is lower) ₹20 per order
Equity Options ₹20 per executed order ₹20 per order
Currency F&O ₹20 or 0.03% per executed order (whichever is lower) ₹20 per order
Commodity F&O ₹20 or 0.03% per executed order (whichever is lower) ₹20 per order
Call & Trade ₹50 per executed order ₹50 per order

Transaction charges (exchange turnover)

Exchange turnover and clearing charges passed through by FYERS Securities and ICICI Direct, per segment.

ParameterFYERS SecuritiesICICI 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 FYERS Securities and ICICI Direct — AMC, debit transactions, pledging and remat.

ParameterFYERS SecuritiesICICI Direct
Demat Account Opening ₹0 ₹0 (Online)
Annual Maintenance Charges (AMC) ₹0 ₹300 + GST per year
Debit Transaction Charges ₹12.5 + GST per ISIN on sell transactions —
Pledge / Unpledge Charges ₹12.5 + GST per ISIN —
Dematerialisation (Demat) ₹150 per certificate + GST —
Rematerialisation (Remat) ₹150 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 FYERS Securities and ICICI Direct.

ParameterFYERS SecuritiesICICI 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 (Buy) Premium Value (Not Applicable) Premium + Applicable Margin (As per Exchange)
Equity Options (Sell) 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 FYERS Securities and ICICI Direct.

ParameterFYERS SecuritiesICICI Direct
3-in-1 account ✕ No ✓ Yes better
Automated / API trading ✓ Yes ✓ Yes
Margin Trading (MTF) ✓ Yes ✓ Yes
Trading in SME shares ✕ No ✓ Yes better
Trading platforms FYERS Web, FYERS Mobile App, FYERS One ICICIdirect Web, ICICIdirect Mobile App, Trade Racer, Breeze API
Intraday square-off 3:15 PM 3:15 PM
Other TradingView Charts, Free Trading API, Algo Trading, Option Chain, Basket Orders, Market Scanner, Advanced Charting, Price Alerts, eDIS, Margin Trading Facility (MTF) 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 FYERS Securities and ICICI Direct.

ParameterFYERS SecuritiesICICI Direct
Trading platforms offered FYERS Web, FYERS Mobile App, FYERS One ICICIdirect Web, ICICIdirect Mobile App, ICICI Direct Markets App, Trade Racer
Number of platforms 3 4 more choice
Platforms (summary) FYERS Web, FYERS Mobile App, FYERS One ICICIdirect Web, ICICIdirect Mobile App, Trade Racer, Breeze API
Mobile / desktop apps Web, Mobile, Desktop Web, Mobile, Desktop

User ratings

User ratings for FYERS Securities and ICICI Direct across the key parameters.

Rated onFYERS SecuritiesICICI Direct
Fees 4.9 better 4.1
Brokerage 4.9 better 4.2
Trading platform 4.9 better 4.8
Customer service 4.4 4.7 better
Research 4.2 4.9 better
Overall 4.7 better 4.6

Investment options

Which investment products FYERS Securities and ICICI Direct let you access.

ParameterFYERS SecuritiesICICI 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 FYERS Securities and ICICI Direct.

ParameterFYERS SecuritiesICICI 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 FYERS Securities and ICICI Direct.

ParameterFYERS SecuritiesICICI Direct
SEBI registration INZ000166137 INZ000183631
NSE member code 12768 07730
Year of incorporation 2015 1995 longer track record
Net worth ₹1,348+ Cr Not Separately Disclosed (Subsidiary of ICICI Bank Limited)
Exchange memberships NSE · BSE · MCX NSE · BSE · MCX · NCDEX
Latest complaint ratio 0.002% fewer complaints 0.0031%

Complaints record

Exchange complaint data for FYERS Securities and ICICI Direct — the ratio matters more than the raw count.

ParameterFYERS SecuritiesICICI Direct
Latest financial year 2025–26 Latest Available
Exchange NSE NSE
Active clients 10,87,436 19,60,293 larger base
Complaints filed — 61 (Pending SCORES 2.0)
Complaint ratio 0.002% fewer complaints 0.0031%

Pros & cons

The main advantages and drawbacks of each broker.

FYERS Securities

▲ Pros

  • ✓ Zero brokerage on Equity Delivery.
  • ✓ TradingView-powered advanced charting.
  • ✓ Free API access for algorithmic trading.
  • ✓ Supports stocks, F&O, commodities, currencies, IPOs, mutual funds, and ETFs.
  • ✓ Fully digital and paperless account opening.
  • ✓ Powerful web and mobile trading platforms with advanced order types.

▼ Cons

  • ✕ No physical branch network comparable to full-service brokers.
  • ✕ Research and advisory services are limited.
  • ✕ Call & Trade service is chargeable.
  • ✕ Margin availability depends on SEBI peak margin regulations.
  • ✕ Beginners may find the advanced trading interface slightly complex.
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.
Open FYERS Securities Account Open ICICI Direct Account

Explore more comparisons

Compare FYERS Securities with

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Compare ICICI Direct with

ICICI Direct vs Zerodha ICICI Direct vs Angel One ICICI Direct vs Upstox ICICI Direct vs Groww ICICI Direct vs Kotak Neo ICICI Direct vs HDFC Securities ICICI Direct vs SBI Securities ICICI Direct vs Motilal Oswal ICICI Direct vs Paytm Money ICICI Direct vs Mirae Asset Sharekhan ICICI Direct vs Axis Direct ICICI Direct vs 5paisa ICICI Direct vs Choice Broking ICICI Direct vs m.Stock ICICI Direct vs Sahi ICICI Direct vs SMC Global ICICI Direct vs Anand Rathi ICICI Direct vs Jainam Broking Limited
Disclaimer: Investments in the securities market are subject to market risks; read all related documents carefully before investing. This page is for information only and is not investment advice. Brokerage, AMC and other charges change frequently — always verify against the broker's official website before opening an account. Affiliate disclosure: "Open account" links are affiliate links and we may earn a commission at no extra cost to you; this does not influence our ratings.