ICICIdirect vs Zerodha
A full side-by-side comparison of brokerage charges, demat AMC, margin, platforms, features and user ratings — updated for 2026.
ICICIdirect
VS
Zerodha
ICICIdirect vs Zerodha — quick verdict
Choose ICICIdirect if
You want research and offline support
One Account. Infinite Opportunities.
Choose Zerodha if
You want low-cost, self-directed trading
India's largest discount broker — ₹0 equity delivery, flat ₹20 intraday/F&O and the clean, reliable Kite platform.
Company overview
ICICIdirect is a full-service broker incorporated in 1995; Zerodha is a discount broker incorporated in 2010.
| Parameter | ICICIdirect | Zerodha |
|---|---|---|
| Type of broker | Full-Service Broker | Discount Broker |
| Exchange membership | NSE · BSE · MCX · NCDEX | NSE · BSE · MCX |
| Year of incorporation | 1995 older | 2010 |
| Number of branches | 3,000+ ICICI Bank Branches & Customer To wider | 0 |
| Active clients | ~19.80 Lakh+ | ~1.6 crore larger |
Charges & AMC
Account-opening and maintenance charges for ICICIdirect and Zerodha compared side by side.
| Parameter | ICICIdirect | Zerodha |
|---|---|---|
| Trading a/c opening | ₹0 (Online) | ₹200 (Online) |
| Trading a/c AMC | ₹0 | ₹0 (Free) |
| Demat a/c opening | ₹0 | ₹0 (Free) |
| Demat a/c AMC | ₹300 + GST per year | ₹300 |
| 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 Zerodha price each trading segment, per executed order.
| Parameter | ICICIdirect | Zerodha |
|---|---|---|
| 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 Zerodha, per segment.
| Parameter | ICICIdirect | Zerodha |
|---|---|---|
| Equity Delivery | NSE: 0.00297% + IPFT 0.00010% • BSE: 0.00375% | NSE Rs 325 per Cr (0.00325%) | BSE Rs 375 per Cr (0.00375%) |
| Equity Intraday | NSE: 0.00297% + IPFT 0.00010% • BSE: 0.00375% | NSE Rs 325 per Cr (0.00325%) | BSE Rs 375 per Cr (0.00375%) |
| Equity Futures | NSE: 0.00173% + IPFT 0.00010% • BSE: 0.00000% | NSE Rs 190 per Cr (0.0019%) | BSE Rs 0 |
| Equity Options | NSE: 0.03503% (on Premium) + IPFT 0.00050% • BSE: 0.03250% (on Premium) | NSE Rs 3503 per Cr (0.03503%) | BSE Rs 275 per Cr (on premium) |
| Currency Futures | NSE: 0.00012% • BSE: 0.00005% | NSE Rs 90 per Cr (0.0009%) | BSE Rs 45 per Cr |
| Currency Options | NSE: 0.03250% (on Premium) • BSE: 0.00100% (on Premium) | — |
| Commodity Futures (MCX) | 0.00210% | — |
| Commodity Options (MCX) | 0.04180% (on Premium) | — |
Demat & DP charges
Depository (demat) charges for ICICIdirect and Zerodha — AMC, debit transactions, pledging and remat.
| Parameter | ICICIdirect | Zerodha |
|---|---|---|
| Demat Account Opening | ₹0 (Online) | — |
| Annual Maintenance Charges (AMC) | ₹300 + GST per year | Rs 300 + GST per year (Rs 75 + GST per quarter) |
| 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 Account Opening Charges | — | Rs 0 (Free) |
| Transaction Charges (Sell) | — | Rs 13.5 + GST per scrip (per day) |
| Pledge Creation / Invocation | — | Rs 30 + GST per request |
| Remat | — | Rs 150 + GST per certificate + CDSL charges |
| Failed Transactions | — | Nil |
Margin & leverage (MTF)
Intraday and delivery margin / leverage offered by ICICIdirect and Zerodha.
| Parameter | ICICIdirect | Zerodha |
|---|---|---|
| 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*) | Up to 20% of trade value (Up to 5x) |
| Equity Futures | SPAN + Exposure Margin (As per Exchange) | 100% NRML (Span + Exposure) (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 Zerodha.
| Parameter | ICICIdirect | Zerodha |
|---|---|---|
| 3-in-1 account | ✓ Yes better | ✕ No |
| Automated / API trading | ✓ Yes | ✓ Yes |
| Margin Trading (MTF) | ✓ Yes better | ✕ No |
| Trading in SME shares | ✓ Yes | ✓ Yes |
| Trading platforms | ICICIdirect Web, ICICIdirect Mobile App, Trade Racer, Breeze API | Kite, Console, Coin, Kite Connect |
| Intraday square-off | 3:15 PM | 3:20 PM |
| Other | 3-in-1 Account, Research Reports, Stock SIP, Basket Orders, MTF, Loan Against Securities | GTT orders, Coin (free direct mutual funds), Varsity education. No MTF, Bracket or Cover orders. |
Trading platforms & apps
Trading terminals, web platforms and mobile apps offered by ICICIdirect and Zerodha.
| Parameter | ICICIdirect | Zerodha |
|---|---|---|
| Trading platforms offered | ICICIdirect Web, ICICIdirect Mobile App, ICICI Direct Markets App, Trade Racer | Kite, Console, Coin |
| Number of platforms | 4 more choice | 3 |
| Platforms (summary) | ICICIdirect Web, ICICIdirect Mobile App, Trade Racer, Breeze API | Kite, Console, Coin, Kite Connect |
| Mobile / desktop apps | Web, Mobile, Desktop | Web + Mobile, Web, Mobile |
User ratings
User ratings for ICICIdirect and Zerodha across the key parameters.
| Rated on | ICICIdirect | Zerodha |
|---|---|---|
| Fees | 4.1 | 4.5 better |
| Brokerage | 4.2 | 4.6 better |
| Trading platform | 4.8 better | 4.6 |
| Customer service | 4.7 better | 3.8 |
| Research | 4.9 better | 3.6 |
| Overall | 4.6 better | 4.5 |
Investment options
Which investment products ICICIdirect and Zerodha let you access.
| Parameter | ICICIdirect | Zerodha |
|---|---|---|
| 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 Zerodha.
| Parameter | ICICIdirect | Zerodha |
|---|---|---|
| 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 Zerodha.
| Parameter | ICICIdirect | Zerodha |
|---|---|---|
| SEBI registration | INZ000183631 | INZ000031633 |
| NSE member code | 07730 | 13179 |
| Year of incorporation | 1995 longer track record | 2010 |
| Net worth | Not Separately Disclosed (Subsidiary of ICICI Bank Limited) | ₹13,000+ Cr |
| Exchange memberships | NSE · BSE · MCX · NCDEX | NSE · BSE · MCX |
| Latest complaint ratio | 0.0031% fewer complaints | 0.030% |
Complaints record
Exchange complaint data for ICICIdirect and Zerodha — the ratio matters more than the raw count.
| Parameter | ICICIdirect | Zerodha |
|---|---|---|
| Latest financial year | Latest Available | 2025-26 |
| Exchange | NSE | NSE |
| Active clients | 19,60,293 | 80,12,000 larger base |
| Complaints filed | 61 (Pending SCORES 2.0) | 2,400 |
| Complaint ratio | 0.0031% fewer complaints | 0.030% |
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.
Zerodha
▲ Pros
- ✓ Free (₹0) equity delivery investing.
- ✓ Clean, fast and reliable Kite web & mobile platform.
- ✓ GTT (Good Till Triggered) orders and Coin for free direct mutual funds.
- ✓ Strong educational content through Varsity.
- ✓ India's largest retail broker — bootstrapped, profitable and debt-free.
- ✓ Transparent flat pricing with no hidden charges.
▼ Cons
- ✕ No MTF / margin funding (pay-later) facility.
- ✕ No 3-in-1 account and no Bracket or Cover orders.
- ✕ No in-house stock research, tips or relationship manager.
- ✕ Support is largely ticket-based; no branch network.
- ✕ ₹200 account opening charge and ₹50 Call & Trade fee.
- ✕ Occasional load on the platform during high-volatility sessions.
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