ICICI Direct FAQS 2023 | General Question
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Frequently Asked Questions
Yes, ICICI Prudential Mutual Fund is good. It is a reputed fund house offering the direct mutual fund services. By investing in direct schemes, you can save on commissions and charges. These commissions and charges add up to a significant amount in the long-term.
With this facility, If an order remains unexecuted on a specific trade but you are not required to log in again and place the same orders again. ICICI direct will keep submitting the remaining order to the exchange everyday morning.
While an IPO is open for bidding, the customer can place the order for IPO share anytime (24*7) simply by visiting the ICICI Direct website.
The brokerage charged by ICICI Direct is very expensive. The brokerage charges will be reduced by subscribing to ICICI Direct prime or prepaid brokerage plans. The brokerage charged is very high for the novice traders.
A Limit Price is an order to buy or sell shares at the specified price or a better price. The better price for a buy order will be the lowest possible whereas, for a sell order it will be the highest possible. You need to specify a maximum price for a buy order and a minimum price for a sell order. The order will be executed at the specified price or a lower price for the buy orders or a higher price for sell orders.
The online account opening with the Aadhar based digital signature is not provided to the NRIs. The US based NRIs can open an account online. The paperless process takes just 2 days to open an account once the application is submitted.
The Post IPO is closed the allotment process gets completed within the next 5th working days and on the 6th working day the shares are listed on the exchange.
The ICICI Direct account gets automatically deactivated if it remains unused for 6 months. The account will continue to attract charges. So, in case you are planning to deactivate your account for few days or couple of months then it does not make much difference whether it is active or deactivated.
ICICI Direct is an integrated account of trading, demat and bank accounts. In such accounts, all the accounts are linked together to facilitate the customers with the smooth and faster trading. All the accounts are opened altogether at once by filling a single application form.
“Convert to Delivery” (CTD) in ICICI Direct is an option where in the customers can convert your intraday positions (margin buy) into cash delivery. The customer can convert the entire order or a part of it. The customers is required to pay the entire trading value (100% margin) while converting the order.
Only one IPO application is allowed per savings bank account with the ICICI Bank.
The ICICI Direct customers can open a demat account for free of cost. The customers planning to open a ICICI trading account along with the demat account will be charged ₹975 for opening the account.
No, ICICI Direct does not provide trading services in the commodity segment.
Yes, you can withdraw an IPO application while the IPO is still open. Simply visit ICICI direct website, visit the IPO order book for placing a withdrawal request.
The ICICI direct bullet brokerage allows the customers to trade in Intraday for free brokerage. They will square off within 5 minutes by the customer. ICICI does not charge any brokerage for the intraday position squared-off in less than 5 minutes. However, the other charges and taxes will be applicable as per their brokerage plan. This plan is offered on the Intraday Margin plus facility.
ICICI Direct Equity ATM (eATM) is the facility where the customers receive money from selling the shares in 30 minutes into their trading account. In a normal settlement cycle, the money is credited to their T+2 working day excluding holidays.
ICICI Direct Cloud Order facility designed for placing the quick orders. Instead of filling the order form while the market is on, you could prepare and save a number of orders well in advance. Such orders remain in the cloud order queue until you delete them. These orders are not sent to the exchange until they place the order.
ICICI Direct offers both the NSDL and CDSL depositories for the demat account. The customers can select any one of them at the time of opening an account. The ICICI Securities is the depository participant with both the NSDL and CDSL.
In order to convert an Intraday position to delivery (Cash Segment), you need to click on the “Convert to Delivery” (CTD) link on the “Margins Positions” page. You can convert a position in full or part. The CTD would require the full payment of the trading value.
IOC order in ICICI Direct is an abbreviation for “Immediate or Cancelled” order. It is a type of order validity that you have to select while placing a buy or sell order. The other options in order validity are ”Day” and “VTC” (Valid Till Cancelled).