As online trading is getting popular every day, it is becoming even more important to choose the right trading platform. Choosing the best trading platform can give you more flexibility to trade in the various trading market.
Trading platforms often have some hidden charges, which are not preferred by many investors as a lot of service charges can reduce the profit ratio. Groww and ICICI Direct both of these are popular among traders, but which platform is better? Let us find out from below.
ICICI Direct is a trading platform offered by ICICI Securities. The platform offers a lot of investment options to all types of traders. ICICI Direct started its journey as a Full-Service Broker in the year 2000. Investors can open a 3-in-1 Account and trade-in various exchanges such as BSE and NSE.
ICICI Securities comes under ICICI Group, which is a leading financial service provider offering banking and other financial services all over India. Investors can trade or invest online very easily and in case of any issue, they are very much reachable as there are more than 150 branches.
ICICI Direct trading account opening charge is 0 INR and Demat Account AMC Charges is 700 INR from the second year. The brokerage charges for equity are 0.55% and the intraday is 0.275% and charges around 5000 per Cr. for options trading. ICICI Direct also offers a margin of up to 25x for intraday trading.
Groww is new in stock trading which started its journey in the year 2016. This Bangalore based Discount Broker service provider is a SEBI registered stockbroker. It is also a member of NSE and BSE. You can invest in multiple equities, IPOs, direct mutual funds, digital gold, US Stocks by using the platform.
The company started offering Equity trading services in the year 2020 itself. Groww doesn't charge any type of fees for account opening or as a Demat Account AMC charge. The brokerage charge for equity is 20 INR per executed order or 0.05% whichever is lower and for intraday, it is 20 INR per executed order or 0.05% whichever is lower. The margin for intraday cash in Groww is up to 8x, which is based on the stock.
So, here we hope you have got some idea regarding both of these trading platforms. ICICI Direct offers a 3-in-1 platform so you can get a saving bank, trading, and Demat account and provide a wide range of commodity options in one place. Groww on the other hand offers fewer commodities than ICICI direct.
So if you are looking for a basic platform to execute your trading and investments then, Groww is the one you should go with. However, if you are more into technical analysis, research, and looking for a platform that offers a wide range of commodity options available for you to invest, then ICICI Direct should be the apt one.