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ICICI Direct Trading Software Review
ICICI Direct Trading Software Review
ICICI Direct is a full-service broker that avails its customer the services of retail trading and investment service from ICICI securities. ICICI Securities is famous and the largest stock broker in India. The broker was incorporated on 9 March, 1995 as ICICI Brokerage Services. The company offers a broad range of investment options to the retail and institutional customers.
The ICICI Securities is part of ICICI Group. It is the India’s top financial service provider that offers several banking and other financial services. It offers many online trading and investment services to customers on major level through the ICICI direct platform.
ICICI Direct avails their customers by providing a complete set of investment products such as online equity trading, derivatives trading, Mutual Fund & IPO, Fixed Deposit, Bonds, NCDs, Wealth products much more and all of it under one login. It is the most visited investment portals in India.
The Full-service stock brokers provides the both trading and offline trading services to its customers. The traders that are opting for online trading that provides the flexibility to choose from the desktop, web-base and the mobile platforms. The customers who are willing to trade via offline than they can use the call-n-trade as well as the branches services of the company.
ICICI Direct Trading Software Review
ICICI Direct provides a broad range of online trading software and the tools to the customers. The tools and trading software provided by the broker to its customers are explained below.
1. ICICI Direct Mobile App
It is a mobile trading application that permits the customers to trade from anywhere and at any time. This trading software is made available on both the Android and iOS smartphones. This application helps in analysing the app and make trading easily. It has some essential features which are as follows:
• It allows trading in Equity and F&O.
• It allows to make investments in IPO and Mutual Funds.
• It provides the monitoring the portfolio on the move.
• It provides various live stock quotes.
• It makes it easy for the customers to place the buy and sell orders.
• It provides live trading calls.
• It allows to view orders and then check the open positions.
• It helps in tracking the market movements.
• It helps in creating the multiple watchlists.
2. Trade Racer Web (Web-Based Platform)
This software is an online trading website from the ICICI Direct. The customers can easily access the website from any computer browser. The essential features of this platform are:
• It is most stable and popular website that helps in trading and making investments.
• It allows trading in various segments such as equity, F&O and currency across the NSE and BSE.
• It allows to make investments in IPO, Mutual Fund, Insurance, Corporate FD, NCD’s etc.
• It provides the customers to create multiple watchlists.
• It has scanners and heat maps to help the customers in analysing the market.
• It provides various advanced charting features.
• It provides the access to various trading calls and research reports.
• It transfers funds quickly and has advanced pay out facility.
• It provides alerts and notifications.
3. Trade Racer (Desktop-Based)
The Trade Racer has the desktop trading software for the ICICI Direct customers. It is designed specially for the frequent trader. It is an exe based installable trading terminal. It offers various critical features that are necessary for the high-frequency trader. Some of the essential features of ICICI Direct trading terminal are:
• It is a single independent platform that helps in trading across various segments at NSE and BSE.
• It provides trend scanners that further helps in monitoring the intraday price movements of the desired stocks that are based on the predefined metrics.
• It provides live scanner that helps in identifying scrips and to make new highs and lows in the market.
• It has snap view that provides an in-depth view of any scrip with information like market depth, resistance and various support levels, charts and much more.
• It has global indices that keeps the track of the major markets across America, Europe and Asia.
• It provides various customization options such as pre-configured desktops, grid layouts and various screen colours to personalize the trading experience.
ICICI Direct is the biggest full-service stock broker that offers research and support at the branches. It offers the three-in-one account facility to the most popular offering. It helps in making investment in the stock market easy. ICICI Direct new Website offers broad range of investment and trading options.
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).