ICICI Direct: Commodity Trading: Brokerage, Charges, Reviews: 2024

ICICI Direct is the best rated online investment and retail trading platform. Basically it is a trading extension and retail investment of ICICI Securities, which is a part of the ICICI group. ICICI Securities offers online trading platform services to more than 20 lakhs customers through ICICI Direct.

ICICI Direct (ICICIDirect.com) provides a vast range of investment products and services to corporate and retail clients and that gives them a competitive edge in the domain. They have a remarkable presence across 87 locations throughout India and more than 200 offices in various capacities and forms for its clients. 

They offer a unique 3-in-1 account which allows the seamless trading experience to traders and investors. One can trade without facing the trouble of tracking settlement cycles, transfer instructions and preparing cheques. Trading becomes extremely simple and hassles free!

What is Commodity Trading?

Just like stocks and bonds, commodities are another class of assets. Commodities are an essential part of everyday life, whether they are related to food, metals and energy. 

A commodity is exchangeable and alternate by nature and plays an important role in diversifying a portfolio. Except for actionable claims and money it can be categorized as every kind of movable good that can be bought and sold. 

Commodities trading is essentially trading in futures of oil, gas, precious metals and base metals. These include natural gas, nickel, lead, aluminium, crude, zinc, copper, gold and silver. 

What are the benefits offered by ICICI Direct in Commodity Trading? 

As an online commodity trading facilitator ICICI Direct offered various benefits which are:

1.String legacy and vintage of ICICI.

2.Seamless transfer of funds.

3.Robust risk management features.

4.Focused advisory and research support. 

5.Longer commodity trading hours till 11:30 PM / 11.55 PM

How Commodity Future & Option Trading Is Done Through ICICI Direct?

Launch of commodity derivatives trading on the ICICIDirect.com platform announced by ICICI Securities on August 28, 2020, in Mumbai. Due to this, nearly 50 lakh client base will be able to trade in commodities futures on the Multi Commodity Exchange of India Ltd. (MCX).

Now, existing 3-in-1 account holders or have opened a new trading account will be able to start trading in commodities by accepting online terms and conditions for commodity derivatives. 

A popular feature ‘Good Till Cancelled’ (GTC) of ICICI Direct will be available for commodities trade, which makes it more convenient to investors. 

Additionally, option trading is currently not offered in the commodity segment by ICICI Direct, investors will be able to trade only in commodity futures.  

Investors are also allowed to place overnight orders in the commodity derivative segment, only limit orders are permitted and on the next trading day once the market opens such orders will be sent to exchanges. 

What are ICICI Direct Commodity Brokerage?

ICICI Direct offers a convenient and simple way to trade in the commodity derivatives segment with an impressive brokerage structure of Rs. 20 per order and only Rs. 2 per lot. 

ICICI Direct fulfil three needs of investors which are protection, investments and borrowings. They also provide commodity learning programs and FAQs that will help to become a successful commodity trader.