Is ICICI direct good for beginners?
- Asked By
- Updated On:26-Apr-2021
- Replies:1
Short Answer
ICICI Direct is a reputable stockbroker in the country. However, choosing it as a beginner can be a hurdle as you do need some experience.
Detailed Answer
It may not be the most user-friendly platform to use while trading; it serves its purpose for intermediate to expert level traders. Nevertheless, it's a full-service stockbroker that does provide tutorials and other things to help you learn how to use the platform.
For beginners that are just getting started with their trading experience, it's better to do some research before you get into choosing the stockbroker. If you want to go with ICICI direct, we have some pros and cons weighed out to make your final decision.
Pros of ICICI direct
- The 3-in-1 account makes for seamless trading.
- A wide array of investment and trading options.
- Numerous brokerage plans.
- Stable trading software.
Cons of ICICI direct
- Brokerage plans are pretty expensive, and not that would suit beginners.
- Not all trading tools are free. You have to pay a monthly fee for using some of its tools.
- Moreover, you would get lost if you just started using the trading tools offers. Its more suited towards intermediate to expert level traders.
Bottom line
ICICI Direct is quite an attractive platform if you are serious about trading since it has a higher brokerage and account opening charge. If you're okay with it, choose them; if not, you can select other brokers that offer better services at cheaper rates and simpler trading experiences.
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Discussion (0)
Discount brokers have gained a lot of popularity in the past couple of years. Zerodha is currently India's largest and most trusted discount broker which is also the best option for beginners. It has all the necessary qualities required for a good broker like low commissions, low-maintenance charges, high-quality trading terminal, etc.
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.
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When talking about the best stock broker in India, we cannot rule out Zerodha. It is the market leader in bargain stockbroking, is premised in Bengaluru, and accounts for more than 15% of total retail trading activity in the country. Mr. Nitin Kamath formed the leading brokerage firm in 2010 Kamath, and it now has a customer base of over 6 million.
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