ICICI DirectSEBI INZ000183631
- Account opening
- ₹0 to ₹975
- Demat AMC
- ₹0 year 1, then ₹700/yr
- SME IPOs
- Yes
- Delivery brokerage
- Depends on plan
- Cost to sell ₹15,000 of IPO shares
- Not publishedBrokerage and DP with GST, ours
ZerodhaSEBI INZ000031633
- Account opening
- ₹0
- Demat AMC
- ₹0 year 1, then ₹300/yr + GST
- SME IPOs
- Yes
- Delivery brokerage
- ₹0
- Cost to sell ₹15,000 of IPO shares
- ₹15.34Brokerage and DP with GST, ours
Where ICICI Direct and Zerodha differ
5 of the 7 charges we compare differ for an IPO investor.
| Cost to sell IPO shares (ours) | ICICI Direct | Zerodha |
|---|---|---|
| One mainboard lot, ₹15,000Difference not worked out: a charge is not published | Not published | ₹15.34 |
| Two SME lots, ₹2,50,000Difference not worked out: a charge is not published | Not published | ₹15.34 |
| A year: 12 mainboard lots soldDifference not worked out: a charge is not published | Not published | ₹184.08 |
Ours: brokerage and DP charge with 18% GST. STT and exchange charges are equal everywhere, so they are left out. SME bids are two lots.
- Account opening: ₹0 to ₹975, depending on the account type at ICICI Direct, ₹0 for individual accounts at Zerodha.
- Demat maintenance (AMC): ₹0 in the first year, ₹700 plus taxes from the second year at ICICI Direct, Free in the first year for resident individuals, then ₹300 a year plus… at Zerodha.
- Equity delivery brokerage: Depends on the plan at ICICI Direct, ₹0 at Zerodha.
- DP charge on selling shares: not stated at ICICI Direct, ₹13 plus GST per scrip at Zerodha.
The same at both: mainboard IPOs and SME IPOs.
ICICI Direct vs Zerodha: charges side by side
Differs 5 of 7 charges differ between ICICI Direct and Zerodha. Same charges are greyed. ₹0 free Not stated not on the broker's pages
| Charge | ICICI Direct | Zerodha |
|---|---|---|
| Open an account | ||
| Account opening | ₹0 to ₹975, depending on the account type | ₹0 for individual accounts (₹500 for NRI, partnership, LLP and corporate accounts) |
| Demat maintenance (AMC) | ₹0 in the first year, ₹700 plus taxes from the second year | Free in the first year for resident individuals, then ₹300 a year plus GST, charged quarterly |
| Apply for IPOs | ||
| Mainboard IPOs | Yes, on ICICI Direct with UPI, or through ICICI Bank net banking (ASBA) | Yes, through Kite or Console with a UPI mandate |
| SME IPOs | Yes, the SME IPO page links to applying through UPI | Yes, NSE and BSE SME IPOs through UPI. Only one bid per SME IPO, and no net banking fallback if the UPI payment fails |
| Sell your IPO shares | ||
| Equity delivery brokerage | Depends on the plan; not stated on the page we checked. Prime plans say "as low as 0.07%" | ₹0 |
| DP charge on selling shares | Not stated on the pages we checked | ₹13 plus GST per scrip (₹3.50 CDSL, ₹9.50 Zerodha); ₹15.34 with GST |
| Registration | ||
| SEBI registration | INZ000183631 | INZ000031633 |
For other trading, equity intraday, Futures, Call and trade and Margin trading (MTF) interest differ too. Intraday, futures, call and trade and margin charges are on the ICICI Direct and Zerodha pages.
ICICI Direct and Zerodha strengths and things worth checking
ICICI Direct
Strengths
- Bank-linked
- ₹0 futures brokerage on Neo
Worth checking
- Higher AMC
₹700 plus taxes a year from the second year.
- Account opening fee
Up to ₹975, depending on the account type.
- Delivery and DP charges not on the page
Ask ICICI Direct for the delivery brokerage and DP charge on your plan before you sell IPO shares.
Zerodha
Strengths
- ₹0 brokerage on delivery
- Lower DP charge
- SME IPOs on both exchanges
Worth checking
- AMC after the first year
₹300 a year plus GST for a regular demat account.
- SME IPO limits
One bid per SME IPO, and if the UPI payment fails you cannot apply by net banking.
- Dealer orders cost extra
₹50 per order through call and trade or auto square-off.
Brokerage calculator: ICICI Direct vs Zerodha
| Charge | ICICI Direct | Zerodha |
|---|
Ours, with NSE rates. Change the trade to see what ICICI Direct and Zerodha would each charge.
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Every comparison with ICICI Direct or Zerodha, or pick any two brokers.
Frequently asked questions
Which is cheaper for selling IPO shares, ICICI Direct or Zerodha?
ICICI Direct does not publish its DP charge, so the full cost of selling IPO shares cannot be compared. For two SME lots worth ₹2,50,000: ICICI Direct Not published, Zerodha ₹15.34 (our calculation, brokerage and DP charge with GST).
How much would the difference between ICICI Direct and Zerodha be over a year?
Not in full, because ICICI Direct does not publish its DP charge.
Can I apply for SME IPOs on ICICI Direct and Zerodha?
Both let you apply for SME IPOs.
Is account opening free at ICICI Direct and Zerodha?
ICICI Direct: ₹0 to ₹975, depending on the account type. Zerodha: ₹0 for individual accounts.
What is the demat AMC at ICICI Direct and Zerodha?
ICICI Direct: ₹0 in the first year, ₹700 plus taxes from the second year. Zerodha: Free in the first year for resident individuals, then ₹300 a year plus….