ICICI Direct vs Paytm Money Comparison: 2024
About ICICI Direct
ICICI Direct is a retail broking branch of the ICICI group: India's top financial services provider. It is a full-time stockbroking company with a presence in 87 locations across the country with more 200 offices serving over 20 lakh customers every day. It is the 2nd largest stock broking company in India succeeded by Zerodha Ltd. This retail trading and investment platform offers a wide range of services to invest in stocks and other financial instruments.
ICICI Direct: Overview
The online share trading platform provides a complete investing and trading solution via products like equity trading, derivative trading, mutual funds, bonds, IPOs, NCD, loans, Fixed deposits , insurance etc all in one platform.From complete financial goal based planning to intraday trading in the stock market, ICICI direct is a one-stop solution.
The USP of this firm is the 3-in-1 account service which includes ICICI bank account, trading account and Demat account for
About Paytm Money
The best part about Paytm Money is in the fact that it carries the brand name Paytm. Now while that provides a huge advantage from a branding perspective, whether it is enough from a functional perspective, we’ll see.
Paytm Money: An Overview
Paytm Money is a mutual fund trading app, facilitating payments through net banking, UPI, OTM. However, it launched its discount broking wing sometime back and is planning to expand its user base towards the stock investors and traders. Paytm Money’s target market happens to be one of the largest population demographics, i.e the young and middle aged. With Paytm Money, the company joints it’s easy to use interface with quality and service standards set by Paytm.
All this while it ventures into the mutual fund app space and further diversifying into the stock broking services in India. Paytm is an Indian company, funded by Alibaba and backed by Ratan Tata
ICICI Direct vs Paytm Money Account Opening Charges: 2024
| Charge | ICICI Direct | Paytm Money |
|---|---|---|
| Demat Account Opening Charges | ₹0 | ₹0 (Free) |
| Trading Acc Opening Charges | ₹975 (One-time) | Rs. 200 (One time Digital KYC) + Rs. 300 Account Opening Charges |
| Trading Account AMC | ₹0 | ₹0 (Free) |
| Demat Account AMC | ₹700 per year | Annual Platform Fees of Rs.300 |
ICICI Direct vs Paytm Money Brokerage Charges and Plans : 2024
| Charge | ICICI Direct | Paytm Money |
|---|---|---|
| Plan Name | I-Secure Plan | Basic Plan |
| Equity Delivery | 0.55% | ₹0 |
| Equity Intraday | 0.275% | 0.05% of turnover or ₹10 whichever is lower |
| Equity Futures | 0.050% | 0.05% of turnover or ₹10 whichever is lower |
| Equity Options | ₹95 per lot and Option (Intraday) ₹50 per lot | 0.05% of turnover or ₹10 whichever is lower |
| Currency Futures | 0.050% and Currency Futures(Intraday) ₹50 | 0.05% of turnover or ₹10 whichever is lower |
| Currency Options | ₹25 per lot and Currency Options (Intraday) ₹10 per lot | 0.05% of turnover or ₹10 whichever is lower |
| Commodity Options | N/A | 0.05% of turnover or ₹10 whichever is lower |
| Mutual Fund | N/A | N/A |
ICICI Direct vs Paytm Money Margin / Exposure: 2024
| Segment | ICICI Direct | Paytm Money |
|---|---|---|
| Equity Delivery | 5x | Upto 4x |
| Equity Intraday | Upto 25x | Upto 20x |
| Equity Future | 4x | Upto 3x |
| Equity Options | 2x for shorting | Upto 5x |
| Currency Future | N/A | Upto 2x |
| Currency Options | N/A | Upto 3x |
| Commodity Future | N/A | Upto 3x |
| Commodity Options | N/A | N/A |