ICICI Direct vs ProStocks 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 ProStocks
Founded in 2016, ProStocks is the Online venture of Sunlight Broking LLP- one of India's top stock broking companies. It is known to offer convenient trading at economical rates. Being an online venture ProStocks prides itself in not indulging with any overhead costs like branch offices, Relationship managers and expensive advertisements in order to offer low-cost transactions and plans. ProStocks is the cheapest broker for unlimited trading plans which intends to start providing mutual fund services soon.
ProStocks: An Overview
It is a Mumbai-based company founded by SP Toshniwal (present CEO) and Saurabh Ranka which allows its clients to trade and invest in the companies listed on the BSE and NSE exchanges. It facilitates trading in segments like Equity cash, Derivative Trading, Currency trading and Intraday Equity. The 2-in-1 Demat and trading account feature makes transactions handy and convenient. They also offer NRI trading services with zero additional account fee and
ICICI Direct vs ProStocks Account Opening Charges: 2024
| Charge | ICICI Direct | ProStocks |
|---|---|---|
| Demat Account Opening Charges | ₹0 | ₹0 |
| Trading Acc Opening Charges | ₹975 (One-time) | ₹0 |
| Trading Account AMC | ₹0 | ₹0 |
| Demat Account AMC | ₹700 per year | ₹0 (with ₹1000 one time refundable deposit) |
ICICI Direct vs ProStocks Brokerage Charges and Plans : 2024
| Charge | ICICI Direct | ProStocks |
|---|---|---|
| Plan Name | I-Secure Plan | Unlimited Plan |
| Equity Delivery | 0.55% | ₹0 |
| Equity Intraday | 0.275% | ₹0 |
| Equity Futures | 0.050% | ₹0 |
| Equity Options | ₹95 per lot and Option (Intraday) ₹50 per lot | ₹0 |
| Currency Futures | 0.050% and Currency Futures(Intraday) ₹50 | ₹0 |
| Currency Options | ₹25 per lot and Currency Options (Intraday) ₹10 per lot | ₹0 |
| Commodity Options | N/A | N/A |
| Mutual Fund | N/A | N/A |
ICICI Direct vs ProStocks Margin / Exposure: 2024
| Segment | ICICI Direct | ProStocks |
|---|---|---|
| Equity Delivery | 5x | 1x (no margin) |
| Equity Intraday | Upto 25x | 7x (Margin intraday sq off) |
| Equity Future | 4x | 2x |
| Equity Options | 2x for shorting | 1x (no margin) |
| Currency Future | N/A | 1.5x |
| Currency Options | N/A | 1x (no margin) |
| Commodity Future | N/A | N/A |
| Commodity Options | N/A | N/A |