HDFC Securities vs ICICI Direct

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

HDFC Securities
HDFC Securities
Full-Service Broker · since 2000
VS
ICICI Direct
Full-Service Broker · since 1995
ICICI Direct

HDFC Securities vs ICICI Direct — quick verdict

Choose HDFC Securities 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

HDFC Securities is a full-service broker incorporated in 2000; ICICI Direct is a full-service broker incorporated in 1995.

ParameterHDFC SecuritiesICICI Direct
Type of broker Full-Service Broker Full-Service Broker
Exchange membership NSE · BSE · MCX NSE · BSE · MCX · NCDEX
Year of incorporation 2000 1995 older
Number of branches 200+ 3,000+ ICICI Bank Branches & Customer To wider
Active clients ~14.6 Lakh ~19.80 Lakh+ larger

Charges & AMC

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

ParameterHDFC SecuritiesICICI Direct
Trading a/c opening ₹999 + GST ₹0 (Online)
Trading a/c AMC ₹0 (Free) ₹0
Demat a/c opening ₹0 (Free) ₹0
Demat a/c AMC ₹750 per year* ₹300 + GST per year lower
DP charges (per ISIN, sell) ₹18.50 + GST per debit transaction lower NSDL – ₹20 + GST (first debit), ₹4 + GST (subsequent same-day debit); CDSL – ₹20 + GST per scrip sold per day

Brokerage charges

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

ParameterHDFC SecuritiesICICI Direct
Equity Delivery 0.10% ₹20 per order (or plan-specific rate)
Equity Intraday 0.03% ₹20 per order
Equity Futures ₹20 per executed order or 0.03% (whichever is lower) ₹20 per order
Equity Options ₹20 per executed order ₹20 per order
Currency F&O ₹20 per executed order ₹20 per order
Commodity F&O ₹20 per executed order ₹20 per order
Call & Trade ₹20 per executed order ₹50 per order

Transaction charges (exchange turnover)

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

ParameterHDFC SecuritiesICICI Direct
Equity Delivery NSE ₹297 per Cr (0.00297%) | BSE ₹297 per Cr (0.00297%) NSE: 0.00297% + IPFT 0.00010% • BSE: 0.00375%
Equity Intraday NSE ₹297 per Cr (0.00297%) | BSE ₹297 per Cr (0.00297%) NSE: 0.00297% + IPFT 0.00010% • BSE: 0.00375%
Equity Futures NSE ₹173 per Cr (0.00173%) | BSE ₹173 per Cr (0.00173%) NSE: 0.00173% + IPFT 0.00010% • BSE: 0.00000%
Equity Options NSE ₹3,503 per Cr (0.03503%) | BSE ₹3,250 per Cr (0.0325%) NSE: 0.03503% (on Premium) + IPFT 0.00050% • BSE: 0.03250% (on Premium)
Currency Futures NSE ₹35 per Cr (0.00035%) | BSE ₹35 per Cr (0.00035%) NSE: 0.00012% • BSE: 0.00005%
Currency Options NSE ₹3,100 per Cr (0.0311%) | BSE ₹1,000 per Cr (0.01%) NSE: 0.03250% (on Premium) • BSE: 0.00100% (on Premium)
Commodity Futures MCX ₹260 per Cr (0.00260%) —
Commodity Options MCX ₹5,000 per Cr (0.05%) —
Commodity Futures (MCX) — 0.00210%
Commodity Options (MCX) — 0.04180% (on Premium)

Demat & DP charges

Depository (demat) charges for HDFC Securities and ICICI Direct — AMC, debit transactions, pledging and remat.

ParameterHDFC SecuritiesICICI Direct
Demat Account Opening ₹0 (Free) ₹0 (Online)
Transaction Charges (Sell) ₹18.50 + GST per debit transaction —
Annual Maintenance Charges (AMC) ₹750 per year* ₹300 + GST per year
Pledge Creation / Invocation ₹25 + GST per request —
Remat ₹25 per certificate + applicable charges —
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 HDFC Securities and ICICI Direct.

ParameterHDFC SecuritiesICICI Direct
Equity Delivery 100% of trade value (1x) Up to 100% of trade value (1x)
Equity Intraday As per SEBI peak margin norms (Up to 5x) As per SEBI Peak Margin Rules (Up to 5x*)
F&O (Eq/Curr/Comm) SPAN + Exposure Margin (1x) SPAN + Exposure Margin (As per Exchange)
Equity Options — Premium + Applicable Margin (As per Exchange)
Currency Futures & Options — Exchange Prescribed Margin (As per Exchange)
Commodity Futures & Options — Exchange Prescribed Margin (As per Exchange)

Features & account

Account type and feature availability across HDFC Securities and ICICI Direct.

ParameterHDFC SecuritiesICICI 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 HDFC SKY, HDFC Securities Mobile App, ProTerminal, InvestRight ICICIdirect Web, ICICIdirect Mobile App, Trade Racer, Breeze API
Intraday square-off 3:15 PM 3:15 PM
Other 3-in-1 account, MTF, research reports, IPO investment, basket orders, option chain, mutual funds, ETFs and bonds. 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 HDFC Securities and ICICI Direct.

ParameterHDFC SecuritiesICICI Direct
Trading platforms offered HDFC SKY, HDFC Securities Mobile App, ProTerminal, InvestRight ICICIdirect Web, ICICIdirect Mobile App, ICICI Direct Markets App, Trade Racer
Number of platforms 4 4
Platforms (summary) HDFC SKY, HDFC Securities Mobile App, ProTerminal, InvestRight ICICIdirect Web, ICICIdirect Mobile App, Trade Racer, Breeze API
Mobile / desktop apps Web + Mobile, Mobile, Desktop, Web Web, Mobile, Desktop

User ratings

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

Rated onHDFC SecuritiesICICI Direct
Fees 4.3 better 4.1
Brokerage 4.4 better 4.2
Trading platform 4.7 4.8 better
Customer service 4.3 4.7 better
Research 4.5 4.9 better
Overall 4.4 4.6 better

Investment options

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

ParameterHDFC 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 HDFC Securities and ICICI Direct.

ParameterHDFC 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 HDFC Securities and ICICI Direct.

ParameterHDFC SecuritiesICICI Direct
SEBI registration INZ000186937 INZ000183631
NSE member code 06586 07730
Year of incorporation 2000 1995 longer track record
Net worth ₹3,300+ Crore Not Separately Disclosed (Subsidiary of ICICI Bank Limited)
Exchange memberships NSE · BSE · MCX NSE · BSE · MCX · NCDEX
Latest complaint ratio 0.175% 0.0031% fewer complaints

Complaints record

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

ParameterHDFC SecuritiesICICI Direct
Latest financial year 2025-26 Latest Available
Exchange NSE NSE
Active clients 15,39,103 19,60,293 larger base
Complaints filed 2,690 61 (Pending SCORES 2.0)
Complaint ratio 0.175% 0.0031% fewer complaints

Pros & cons

The main advantages and drawbacks of each broker.

HDFC Securities

▲ Pros

  • ✓ Integrated 3-in-1 account with HDFC Bank.
  • ✓ Comprehensive research reports and expert recommendations.
  • ✓ Advanced web, mobile and desktop trading platforms.
  • ✓ Investment in Stocks, F&O, IPOs, Mutual Funds, ETFs and Bonds.
  • ✓ Margin Trading Facility (MTF) available.
  • ✓ Strong brand reputation with nationwide presence.
  • ✓ Dedicated relationship manager for eligible customers.

▼ Cons

  • ✕ Brokerage charges are higher than discount brokers.
  • ✕ Annual Maintenance Charges apply for demat accounts.
  • ✕ Call & Trade service is chargeable.
  • ✕ Some advanced trading tools are available only to eligible customers.
  • ✕ Margin benefits depend on the applicable product and segment.
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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Explore more comparisons

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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 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 FYERS Securities 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.