ICICIdirect vs Kotak Neo
A full side-by-side comparison of brokerage charges, demat AMC, margin, platforms, features and user ratings — updated for 2026.
ICICIdirect
VS
Kotak Neo
ICICIdirect vs Kotak Neo — quick verdict
Choose ICICIdirect if
You want research and offline support
One Account. Infinite Opportunities.
Choose Kotak Neo if
You want research and offline support
One of India's oldest stock broking companies, offering full-fledged investment services across asset classes through a single-login platform.
Company overview
ICICIdirect is a full-service broker incorporated in 1995; Kotak Neo is a full-service broker incorporated in 1994.
| Parameter | ICICIdirect | Kotak Neo |
|---|---|---|
| Type of broker | Full-Service Broker | Full-Service Broker |
| Exchange membership | NSE · BSE · MCX · NCDEX | NSE · BSE · MCX |
| Year of incorporation | 1995 | 1994 older |
| Number of branches | 3,000+ ICICI Bank Branches & Customer To wider | 1,500+ Branches & Customer Touchpoints |
| Active clients | ~19.80 Lakh+ larger | 15+ Lakh (Approx.) |
Charges & AMC
Account-opening and maintenance charges for ICICIdirect and Kotak Neo compared side by side.
| Parameter | ICICIdirect | Kotak Neo |
|---|---|---|
| Trading a/c opening | ₹0 (Online) | ₹0 (Online) |
| Trading a/c AMC | ₹0 | ₹0 |
| Demat a/c opening | ₹0 | ₹0 |
| Demat a/c AMC | ₹300 + GST per year | As per applicable tariff plan |
| 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 + GST per debit lower |
Brokerage charges
How ICICIdirect and Kotak Neo price each trading segment, per executed order.
| Parameter | ICICIdirect | Kotak Neo |
|---|---|---|
| Equity Delivery | ₹20 per order (or plan-specific rate) | ₹0 (Free) |
| Equity Intraday | ₹20 per order | ₹20 or 0.03% (lower) |
| Equity Futures | ₹20 per order | ₹20 or 0.03% (lower) |
| Equity Options | ₹20 per order | ₹20/order |
| Currency F&O | ₹20 per order | ₹20 or 0.03% (lower) |
| Commodity F&O | ₹20 per order | ₹20 or 0.03% (lower) |
| Call & Trade | ₹50 per order | +₹50/order |
Transaction charges (exchange turnover)
Exchange turnover and clearing charges passed through by ICICIdirect and Kotak Neo, per segment.
| Parameter | ICICIdirect | Kotak Neo |
|---|---|---|
| Equity Delivery | NSE: 0.00297% + IPFT 0.00010% • BSE: 0.00375% | NSE ₹297 per Crore (0.00297%) | BSE ₹297 per Crore (0.00297%) |
| Equity Intraday | NSE: 0.00297% + IPFT 0.00010% • BSE: 0.00375% | NSE ₹297 per Crore (0.00297%) | BSE ₹297 per Crore (0.00297%) |
| Equity Futures | NSE: 0.00173% + IPFT 0.00010% • BSE: 0.00000% | NSE ₹173 per Crore (0.00173%) | BSE ₹173 per Crore (0.00173%) |
| Equity Options | NSE: 0.03503% (on Premium) + IPFT 0.00050% • BSE: 0.03250% (on Premium) | NSE ₹3,503 per Crore of premium (0.03503%) | BSE ₹3,250 per Crore of premium (0.0325%) |
| Currency Futures | NSE: 0.00012% • BSE: 0.00005% | NSE ₹35 per Crore (0.00035%) | BSE ₹35 per Crore (0.00035%) |
| Currency Options | NSE: 0.03250% (on Premium) • BSE: 0.00100% (on Premium) | NSE ₹3,100 per Crore of premium (0.0311%) | BSE ₹1,000 per Crore of premium (0.01%) |
| Commodity Futures (MCX) | 0.00210% | — |
| Commodity Options (MCX) | 0.04180% (on Premium) | — |
| Commodity Futures | — | MCX ₹260 per Crore (0.00260%) |
| Commodity Options | — | MCX ₹5,000 per Crore of premium (0.05%) |
Demat & DP charges
Depository (demat) charges for ICICIdirect and Kotak Neo — AMC, debit transactions, pledging and remat.
| Parameter | ICICIdirect | Kotak Neo |
|---|---|---|
| Demat Account Opening | ₹0 (Online) | — |
| Annual Maintenance Charges (AMC) | ₹300 + GST per year | — |
| 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 | — |
| Demat Opening | — | ₹0 |
| Transaction Charges | — | ₹13.5 + GST |
| AMC | — | ₹300 + GST |
| Pledge | — | ₹30 + GST |
| Remat | — | ₹150 + GST |
| Nil | — | Nil |
Margin & leverage (MTF)
Intraday and delivery margin / leverage offered by ICICIdirect and Kotak Neo.
| Parameter | ICICIdirect | Kotak Neo |
|---|---|---|
| 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*) | As per SEBI peak margin norms (Up to 5x (eligible stocks)) |
| Equity Futures | SPAN + Exposure Margin (As per Exchange) | SPAN + Exposure Margin (1x) |
| 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 ICICIdirect and Kotak Neo.
| Parameter | ICICIdirect | Kotak Neo |
|---|---|---|
| 3-in-1 account | ✓ Yes | ✓ Yes |
| Automated / API trading | ✓ Yes | ✓ Yes |
| Margin Trading (MTF) | ✓ Yes | ✓ Yes |
| Trading in SME shares | ✓ Yes | ✓ Yes |
| Trading platforms | ICICIdirect Web, ICICIdirect Mobile App, Trade Racer, Breeze API | Kotak Neo Web, Kotak Neo App, Kotak Stock Trader (Nest), Kotak Neo API |
| 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 charting, basket orders, option chain, Trading API, research reports, Smart Orders, eMargin, MTF, IPO and mutual fund investments. |
Trading platforms & apps
Trading terminals, web platforms and mobile apps offered by ICICIdirect and Kotak Neo.
| Parameter | ICICIdirect | Kotak Neo |
|---|---|---|
| Trading platforms offered | ICICIdirect Web, ICICIdirect Mobile App, ICICI Direct Markets App, Trade Racer | Kotak Neo Web, Kotak Neo App, Kotak Stock Trader (Nest), Kotak Neo API |
| Number of platforms | 4 | 4 |
| Platforms (summary) | ICICIdirect Web, ICICIdirect Mobile App, Trade Racer, Breeze API | Kotak Neo Web, Kotak Neo App, Kotak Stock Trader (Nest), Kotak Neo API |
| Mobile / desktop apps | Web, Mobile, Desktop | Web, Android & iOS, Desktop, API |
User ratings
User ratings for ICICIdirect and Kotak Neo across the key parameters.
| Rated on | ICICIdirect | Kotak Neo |
|---|---|---|
| Fees | 4.1 | 4.4 better |
| Brokerage | 4.2 | 4.5 better |
| Trading platform | 4.8 better | 4.7 |
| Customer service | 4.7 better | 4.3 |
| Research | 4.9 better | 4.4 |
| Overall | 4.6 better | 4.4 |
Investment options
Which investment products ICICIdirect and Kotak Neo let you access.
| Parameter | ICICIdirect | Kotak Neo |
|---|---|---|
| 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 ICICIdirect and Kotak Neo.
| Parameter | ICICIdirect | Kotak Neo |
|---|---|---|
| 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 ICICIdirect and Kotak Neo.
| Parameter | ICICIdirect | Kotak Neo |
|---|---|---|
| SEBI registration | INZ000183631 | INZ000200137 |
| NSE member code | 07730 | 08081 |
| Year of incorporation | 1995 | 1994 longer track record |
| Net worth | Not Separately Disclosed (Subsidiary of ICICI Bank Limited) | ₹5,000+ Crore (Approx.) |
| Exchange memberships | NSE · BSE · MCX · NCDEX | NSE · BSE · MCX |
| Latest complaint ratio | 0.0031% fewer complaints | 0.034% |
Complaints record
Exchange complaint data for ICICIdirect and Kotak Neo — the ratio matters more than the raw count.
| Parameter | ICICIdirect | Kotak Neo |
|---|---|---|
| Latest financial year | Latest Available | 2025-26 |
| Exchange | NSE | NSE |
| Active clients | 19,60,293 larger base | 15,40,000+ |
| Complaints filed | 61 (Pending SCORES 2.0) | 520 |
| Complaint ratio | 0.0031% fewer complaints | 0.034% |
Pros & cons
The main advantages and drawbacks of each broker.
ICICIdirect
▲ 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.
Kotak Neo
▲ Pros
- ✓ Trusted full-service broker backed by Kotak Mahindra Bank.
- ✓ Low brokerage plans for active traders.
- ✓ Advanced Kotak Neo web and mobile trading platforms.
- ✓ Investment in Stocks, IPOs, Mutual Funds, ETFs and Bonds from one account.
- ✓ Research reports, market insights and investment recommendations.
- ✓ API support for algo trading.
- ✓ Easy online account opening with Aadhaar-based eKYC.
- ✓ Multiple order types with advanced charting tools.
▼ Cons
- ✕ Demat AMC may apply depending on the selected plan.
- ✕ Call & Trade service is chargeable.
- ✕ Margin Trading Facility (MTF) is available only for eligible stocks.
- ✕ Some advanced features are available only under specific plans.
- ✕ Research and advisory offerings may vary across customer plans.
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