ICICI Direct vs Sahi
A full side-by-side comparison of brokerage charges, demat AMC, margin, platforms, features and user ratings — updated for 2026.
ICICI Direct
VS
Sahi
ICICI Direct vs Sahi — quick verdict
Choose ICICI Direct if
You want research and offline support
One Account. Infinite Opportunities.
Choose Sahi if
You want low-cost, self-directed trading
Trading Simplified.
Company overview
ICICI Direct is a full-service broker incorporated in 1995; Sahi is a discount broker incorporated in 2021.
| Parameter | ICICI Direct | Sahi |
|---|---|---|
| Type of broker | Full-Service Broker | Discount Broker |
| Exchange membership | NSE · BSE · MCX · NCDEX | NSE · BSE |
| Year of incorporation | 1995 older | 2021 |
| Number of branches | 3,000+ ICICI Bank Branches & Customer To | Online Only |
| Active clients | ~19.80 Lakh+ larger | 1 Lakh+ |
Charges & AMC
Account-opening and maintenance charges for ICICI Direct and Sahi compared side by side.
| Parameter | ICICI Direct | Sahi |
|---|---|---|
| Trading a/c opening | ₹0 (Online) | ₹0 |
| Trading a/c AMC | ₹0 | ₹0 |
| Demat a/c opening | ₹0 | ₹0 |
| Demat a/c AMC | ₹300 + GST per year | ₹0 lower |
| DP charges (per ISIN, sell) | NSDL – ₹20 + GST (first debit), ₹4 + GST (subsequent same-day debit); CDSL – ₹20 + GST per scrip sold per day | ₹13.5 per company (ISIN) on sell transactions lower |
Brokerage charges
How ICICI Direct and Sahi price each trading segment, per executed order.
| Parameter | ICICI Direct | Sahi |
|---|---|---|
| Equity Delivery | ₹20 per order (or plan-specific rate) | ₹10 or 0.05% per executed order (whichever is lower) |
| Equity Intraday | ₹20 per order | ₹10 or 0.05% per executed order (whichever is lower) |
| Equity Futures | ₹20 per order | ₹10 per executed order |
| Equity Options | ₹20 per order | ₹10 per executed order |
| Currency F&O | ₹20 per order | ₹10 per executed order |
| Commodity F&O | ₹20 per order | ₹10 per executed order |
| Call & Trade | ₹50 per order | Not Available |
Transaction charges (exchange turnover)
Exchange turnover and clearing charges passed through by ICICI Direct and Sahi, per segment.
| Parameter | ICICI Direct | Sahi |
|---|---|---|
| Equity Delivery | NSE: 0.00297% + IPFT 0.00010% • BSE: 0.00375% | NSE: 0.0030699% • BSE: 0.00375% |
| Equity Intraday | NSE: 0.00297% + IPFT 0.00010% • BSE: 0.00375% | NSE: 0.0030699% • BSE: 0.00375% |
| Equity Futures | NSE: 0.00173% + IPFT 0.00010% • BSE: 0.00000% | NSE: 0.0018299% |
| Equity Options | NSE: 0.03503% (on Premium) + IPFT 0.00050% • BSE: 0.03250% (on Premium) | NSE: 0.0355299% (on premium) |
| Currency Futures | NSE: 0.00012% • BSE: 0.00005% | NSE: 0.00035% |
| Currency Options | NSE: 0.03250% (on Premium) • BSE: 0.00100% (on Premium) | NSE: 0.03110% (on premium) |
| Commodity Futures (MCX) | 0.00210% | — |
| Commodity Options (MCX) | 0.04180% (on Premium) | — |
| Commodity Futures | — | MCX: As per applicable exchange charges |
| Commodity Options | — | MCX: As per applicable exchange charges |
Demat & DP charges
Depository (demat) charges for ICICI Direct and Sahi — AMC, debit transactions, pledging and remat.
| Parameter | ICICI Direct | Sahi |
|---|---|---|
| Demat Account Opening | ₹0 (Online) | ₹0 |
| Annual Maintenance Charges (AMC) | ₹300 + GST per year | ₹0 |
| 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 | — |
| Debit Transaction Charges | — | ₹13.5 per company (ISIN) on sell transactions |
| Pledge / Unpledge Charges | — | ₹15 per transaction/ISIN + GST |
| Dematerialisation (Demat) | — | ₹150 per certificate + courier charges |
| Rematerialisation (Remat) | — | ₹150 per certificate + courier charges |
| Failed Transactions | — | ₹50 per ISIN |
Margin & leverage (MTF)
Intraday and delivery margin / leverage offered by ICICI Direct and Sahi.
| Parameter | ICICI Direct | Sahi |
|---|---|---|
| Equity Delivery | Up to 100% of trade value (1x) | 100% of trade value (1x) |
| Equity Intraday | As per SEBI Peak Margin Rules (Up to 5x*) | VAR + ELM Margin (Up to 5x*) |
| Equity Futures | SPAN + Exposure Margin (As per Exchange) | SPAN + Exposure Margin (As per available margin) |
| Equity Options | Premium + Applicable Margin (As per Exchange) | Premium Value (Not Applicable) |
| Currency Futures & Options | Exchange Prescribed Margin (As per Exchange) | SPAN + Exposure Margin (As per available margin) |
| Commodity Futures & Options | Exchange Prescribed Margin (As per Exchange) | Not Available |
| Commodity Futures & Options | — | Not Available |
Features & account
Account type and feature availability across ICICI Direct and Sahi.
| Parameter | ICICI Direct | Sahi |
|---|---|---|
| 3-in-1 account | ✓ Yes better | ✕ No |
| Automated / API trading | ✓ Yes better | ✕ No |
| Margin Trading (MTF) | ✓ Yes better | ✕ No |
| Trading in SME shares | ✓ Yes | ✓ Yes |
| Trading platforms | ICICIdirect Web, ICICIdirect Mobile App, Trade Racer, Breeze API | Sahi Web, Sahi Mobile App |
| Intraday square-off | 3:15 PM | 3:15 PM |
| Other | 3-in-1 Account, Research Reports, Stock SIP, Basket Orders, MTF, Loan Against Securities | Advanced Charts, Option Chain, Watchlists, Price Alerts, Digital KYC, Real-time Market Data, Portfolio Tracking |
Trading platforms & apps
Trading terminals, web platforms and mobile apps offered by ICICI Direct and Sahi.
| Parameter | ICICI Direct | Sahi |
|---|---|---|
| Trading platforms offered | ICICIdirect Web, ICICIdirect Mobile App, ICICI Direct Markets App, Trade Racer | Sahi Web, Sahi Mobile App |
| Number of platforms | 4 more choice | 2 |
| Platforms (summary) | ICICIdirect Web, ICICIdirect Mobile App, Trade Racer, Breeze API | Sahi Web, Sahi Mobile App |
| Mobile / desktop apps | Web, Mobile, Desktop | Web, Mobile |
User ratings
User ratings for ICICI Direct and Sahi across the key parameters.
| Rated on | ICICI Direct | Sahi |
|---|---|---|
| Fees | 4.1 | 4.8 better |
| Brokerage | 4.2 | 4.8 better |
| Trading platform | 4.8 better | 4.5 |
| Customer service | 4.7 better | 4.2 |
| Research | 4.9 better | 3.8 |
| Overall | 4.6 better | 4.4 |
Investment options
Which investment products ICICI Direct and Sahi let you access.
| Parameter | ICICI Direct | Sahi |
|---|---|---|
| Stocks / Equity | ✓ Yes | ✓ Yes |
| Commodity | ✓ Yes better | ✕ No |
| IPO | ✓ Yes better | ✕ No |
| Mutual Funds | ✓ Yes better | ✕ No |
| Bonds / NCD | ✓ Yes better | ✕ No |
Order types offered
Advanced order types supported by ICICI Direct and Sahi.
| Parameter | ICICI Direct | Sahi |
|---|---|---|
| Bracket Order | ✕ No | ✕ No |
| Cover Order | ✕ No | ✕ No |
| BTST | ✓ Yes | ✓ Yes |
| After Market (AMO) | ✓ Yes | ✓ Yes |
| GTC / GTT | ✓ Yes better | ✕ No |
Safety & credibility
SEBI registration, financial strength and complaint record for ICICI Direct and Sahi.
| Parameter | ICICI Direct | Sahi |
|---|---|---|
| SEBI registration | INZ000183631 | INZ000314836 |
| NSE member code | 07730 | 90392 |
| Year of incorporation | 1995 longer track record | 2021 |
| Net worth | Not Separately Disclosed (Subsidiary of ICICI Bank Limited) | ₹25+ Cr |
| Exchange memberships | NSE · BSE · MCX · NCDEX | NSE · BSE |
| Latest complaint ratio | 0.0031% | N.A. |
Complaints record
Exchange complaint data for ICICI Direct and Sahi — the ratio matters more than the raw count.
| Parameter | ICICI Direct | Sahi |
|---|---|---|
| Latest financial year | Latest Available | 2025–26 |
| Exchange | NSE | NSE |
| Active clients | 19,60,293 | Latest Available |
| Complaints filed | 61 (Pending SCORES 2.0) | N.A. |
| Complaint ratio | 0.0031% | N.A. |
Pros & cons
The main advantages and drawbacks of each broker.
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.
Sahi
▲ Pros
- ✓ Simple and transparent brokerage structure.
- ✓ ₹0 account opening and ₹0 annual Demat AMC.
- ✓ Fully digital and paperless account opening.
- ✓ User-friendly web and mobile trading platforms.
- ✓ Advanced charting, watchlists, and option chain.
- ✓ Suitable for beginners as well as active traders.
▼ Cons
- ✕ Limited research and advisory services.
- ✕ Investment products are fewer than large full-service brokers.
- ✕ No physical branch network.
- ✕ Call & Trade facility is limited or unavailable.
- ✕ Does not offer as many premium investment services as traditional brokers.
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