Since begin of this calendar year ICICI Direct has started giving multiple brokerage plans to users. A brokerage plan is a set of terms and conditions about the commissions you pay ICICI Direct for your trades. The two plans now available are
I-Saver has a tiered brokerage which reduces with increase in trading volume. In I-Saver, brokerage will be less than that in I-Secure only when trade volume is more than 50 lakhs in a quarter.
- I-Saver
- I-Secure
I-Saver has a tiered brokerage which reduces with increase in trading volume. In I-Saver, brokerage will be less than that in I-Secure only when trade volume is more than 50 lakhs in a quarter.
For people who predominantly trades less than 50 lakhs in cash in a quarter, I-Secure is going to be cheaper. Another point to be noted is that plan change will not get effected in between a quarter. Thus if you make a change in plan now it will be effective from 1st April only. The option of selecting/changing brokerage plan is under Customer Service section in ICICIDirect site, it’s a bit difficult to locate this among other details in the site.
Besides brokerage there are other charges also including Service Tax (ST), Transaction charge, Securities Transaction Tax.
Moreover, in i-saver plan, if your total trading volume increases and applicable brokerage % upgrades to the lower brokerage % segment for a particular quarter then also ICICIDirect charges 0.75% brokerage and refund excess charged brokerage at the end of the respective quarter.
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