Choice Broking and ICICI Direct are two stockbrokers that investors often compare for brokerage charges, products, trading platforms, and account costs. Choice Broking is listed as a Private Discount Broker , established in 2010 and headquartered in Mumbai, while ICICI Direct is listed as a Public Discount Broker , established in 1994 and headquartered in Mumbai.
This comparison reviews brokerage, Demat charges, product availability, platforms, features, support, ratings, and complaints. Use the side-by-side tables below to see whether Choice Broking or ICICI Direct is a better fit for your investment style, platform preference, and budget.
Choice Broking is listed as a Private Discount Broker established in 2010 with headquarters in Mumbai and founded by Kamal Poddar. The broker highlights access to equity delivery, equity intraday, equity futures, equity options, commodity futures, commodity options and currency futures through mobile app access and web trading and promotes features such as watchlists, real-time updates, portfolio tracking, research reports, customised recommendations and stock tips. It follows a Standard Plan brokerage structure.
ICICI Direct is listed as a Public Discount Broker established in 1994 with headquarters in Mumbai and founded by Vjay Chandok. It offers equity delivery, equity intraday, equity futures, equity options, commodity futures, commodity options and currency futures using mobile app access, web trading, desktop terminal access and algo trading support and supports traders with features such as watchlists, real-time updates, portfolio tracking, online mutual fund access, research reports and global indices tracking. Its brokerage model is structured as Neo Plan.
Both brokers use technology-driven platforms to attract active traders and investors, but the better option depends on the combination of pricing, products, services, and support that matters most to you.
Choice Broking vs ICICI Direct — A Comprehensive Company Overview
| Company Overview | Choice Broking | ICICI Direct |
|---|---|---|
| Company Type | Private | Public |
| Broker Type | Discount Broker | Discount Broker |
| Headquarters | Mumbai | Mumbai |
| Founder | Kamal Poddar | Vjay Chandok |
| Establishment Year | 2010 | 1994 |
| Brokerage Plan | Standard Plan | Neo Plan |
Brokerage is the primary cost to compare when choosing a broker. Below is a segment-by-segment breakdown for Choice Broking and ICICI Direct.
Equity delivery: This charge applies to buy-and-hold stock positions held beyond one trading session. Choice Broking charges 0.2% of Transaction Value while ICICI Direct charges 0.27% of Total Transaction.
Equity intraday: This charge applies to buy-sell positions closed within the same trading day. Choice Broking charges 0.2% of Transaction Value while ICICI Direct charges Rs.20 per Trade.
Equity futures: This charge applies to futures contracts on stocks and indices. Choice Broking charges 0.2% of Transaction Value while ICICI Direct charges Free.
Equity options: This charge applies to equity option contracts. Choice Broking charges Rs.25 per lot while ICICI Direct charges Rs.20 per Trade.
Commodity futures: This charge covers commodities such as gold, silver, and crude oil. Choice Broking charges 0.02% of Transaction Value while ICICI Direct charges Rs.20 per Trade.
Commodity options: This charge applies to option contracts on commodity instruments. Choice Broking charges Rs.50 per lot while ICICI Direct charges Rs.20 per Trade.
Currency futures: This charge allows participation in forex price movements on the exchange. Choice Broking charges 0.02% of Transaction Value while ICICI Direct charges Rs.20 per Trade.
Currency options: This charge enables traders to hedge or speculate on currency fluctuations. Choice Broking charges Rs.20 per lot while ICICI Direct charges Rs.20 per Trade.
Choice Broking vs ICICI Direct — Detailed Brokerage Comparison
| Brokerage | Choice Broking | ICICI Direct |
|---|---|---|
| Brokerage Plan | Standard Plan | Neo Plan |
| Subscription Charges | Zero | Zero |
| Equity Delivery | 0.2% of Transaction Value | 0.27% of Total Transaction |
| Equity Intraday | 0.2% of Transaction Value | Rs.20 per Trade |
| Equity Future | 0.2% of Transaction Value | Free |
| Equity Option | Rs.25 per lot | Rs.20 per Trade |
| Commodity Future | 0.02% of Transaction Value | Rs.20 per Trade |
| Commodity Option | Rs.50 per lot | Rs.20 per Trade |
| Currency Future | 0.02% of Transaction Value | Rs.20 per Trade |
| Currency Option | Rs.20 per lot | Rs.20 per Trade |
Choice Broking provides mobile app access and web trading for order placement, portfolio tracking, and market monitoring. ICICI Direct provides mobile app access, web trading, desktop terminal access and algo trading support for its users.
Android app: Choice Broking and ICICI Direct both list an Android trading app.
iOS app: Choice Broking and ICICI Direct both list an iOS trading app.
Web trading platform: Choice Broking and ICICI Direct both list a web trading platform.
Desktop trading terminal: ICICI Direct lists a desktop trading terminal, while Choice Broking does not currently mention it.
Algo trading: ICICI Direct lists algo trading support, while Choice Broking does not currently mention it.
Basket trading: ICICI Direct lists basket trading, while Choice Broking does not currently mention it.
Foreign stocks platform: Neither broker currently highlights foreign stocks access.
Mutual fund platform: ICICI Direct lists a mutual fund investment platform, while Choice Broking does not currently mention it.
Digital gold platform: ICICI Direct lists digital gold investing, while Choice Broking does not currently mention it.
Bonds platform: ICICI Direct lists a bonds investment platform, while Choice Broking does not currently mention it.
Choice Broking vs ICICI Direct — Complete Comparison of Trading Platforms
| Trading Platform | Choice Broking | ICICI Direct |
|---|---|---|
| Android App | Choice Broking Android App Link | ICICI Direct Android App Link |
| iOS App | Choice Broking iOS App Link | ICICI Direct iOS App Link |
| Web Trading Platform | Choice Broking Web Trading Link | ICICI Direct Web Trading Link |
| Trading Terminal | NA | Available |
| Algo Trading Platform | NA | Available |
| Foreign Stocks Platform | NA | NA |
| Basket Trading Platform | NA | Available |
| Mutual Fund Platform | NA | Available |
| Digital Gold Platform | NA | Available |
| Bonds Platform | NA | Available |
Choice Broking highlights trading features including watchlists, real-time updates, portfolio tracking, research reports, customised recommendations and stock tips, while ICICI Direct promotes watchlists, real-time updates, portfolio tracking, online mutual fund access, research reports and global indices tracking. The table below shows the full feature set for both brokers side by side.
Wishlist: Monitor specific stocks or assets by adding them to a watchlist for close tracking. Both Choice Broking and ICICI Direct offer this feature.
Real time updates: Get timely updates on market trends, stock prices, and other market data. Both Choice Broking and ICICI Direct offer this feature.
Portfolio details: A detailed snapshot of all investments — stocks, bonds, and commodities — in one place. Both Choice Broking and ICICI Direct offer this feature.
Online mf buy: Buy or sell mutual funds directly from the trading platform or mobile application. ICICI Direct offers this; Choice Broking does not currently highlight it.
Research reports: A comprehensive overview of different stocks and sectors in the stock market. Both Choice Broking and ICICI Direct offer this feature.
Global indices: Real-time data on leading global stock market indices. ICICI Direct offers this; Choice Broking does not currently highlight it.
Customised recommendations: Personalised investment suggestions based on your objectives and behaviour patterns. Both Choice Broking and ICICI Direct offer this feature.
Stock tips: Valuable tips on stocks to buy, hold, or sell based on market trends. Both Choice Broking and ICICI Direct offer this feature.
Interactive charts: Visual price movement charts to help analyse when to buy or sell. Both Choice Broking and ICICI Direct offer this feature.
Live market: Live updates on market movements and trends. Both Choice Broking and ICICI Direct offer this feature.
Secure platform: A secure trading environment with next-generation security controls. Both Choice Broking and ICICI Direct offer this feature.
Choice Broking vs ICICI Direct — Comprehensive Comparison of Trading Features
| Trading Feature | Choice Broking | ICICI Direct |
|---|---|---|
| Wishlist | Yes | Yes |
| Real-Time Updates | Yes | Yes |
| Portfolio Details | Yes | Yes |
| Online MF Buy | No | Yes |
| Research Reports | Yes | Yes |
| Global Indices | No | Yes |
| Customised Recommendations | Yes | Yes |
| Stock Tips | Yes | Yes |
| Interactive Charts | Yes | Yes |
| Live Market | Yes | Yes |
| Multi Profile Management | No | No |
| Robust & Secure Platform | Yes | Yes |
Stockbrokers use promotional offers to attract and retain clients. Below is a side-by-side comparison of the offers currently listed by Choice Broking and ICICI Direct.
Free account opening: Choice Broking and ICICI Direct both list free account opening.
Free AMC: Neither broker currently highlights free Demat AMC.
Free brokerage: ICICI Direct lists free brokerage, while Choice Broking does not currently mention it.
Flat brokerage: ICICI Direct lists flat brokerage pricing, while Choice Broking does not currently mention it.
Flexible brokerage plans: ICICI Direct lists flexible brokerage plans, while Choice Broking does not currently mention it.
Happy trading hours: ICICI Direct lists happy trading hours, while Choice Broking does not currently mention it.
Free delivery trading: Neither broker currently highlights free delivery trading.
Free intraday trading: Neither broker currently highlights free intraday trading.
Free F&O trading: ICICI Direct lists free F&O trading, while Choice Broking does not currently mention it.
Free research reports: ICICI Direct lists free research reports, while Choice Broking does not currently mention it.
Free trading calls: ICICI Direct lists free trading calls, while Choice Broking does not currently mention it.
Zero brokerage for loss trades: Neither broker currently highlights zero brokerage for loss-making trades.
Referral offers: Choice Broking offers Upto Rs. 100 per Client while ICICI Direct offers Rs.500 per Client for referrals.
Choice Broking vs ICICI Direct — Comparison of Latest Offers
| Offer | Choice Broking | ICICI Direct |
|---|---|---|
| Free Account Opening | Yes | Yes |
| Free AMC | No | No |
| Free Brokerage | No | Yes |
| Flat Brokerage | No | Yes, Limited |
| Flexible Brokerage Plans | No | Yes |
| Happy Trading Hours | No | Yes |
| Free Delivery Trading | No | No |
| Free Intraday Trading | No | No |
| Free F&O Trading | No | Yes |
| Free Research Reports | No | Yes |
| Free Trading Calls | No | Yes |
| Referral Offers | Upto Rs. 100 per Client | Rs.500 per Client |
| Margin Funding / Pledging | Yes | Yes |
| Brokerage Cashback | No | Yes |
| Zero Brokerage for Loss-Making Trades | No | No |
Product availability determines whether a broker can support your preferred markets. Choice Broking highlights equity delivery, equity intraday, equity futures, equity options, commodity futures, commodity options and currency futures, while ICICI Direct highlights equity delivery, equity intraday, equity futures, equity options, commodity futures, commodity options and currency futures.
The table below compares the full product lineup side by side across equity delivery, equity intraday, equity futures, equity options, commodity futures, commodity options, currency futures, currency options, insurance, mutual funds, banking services, corporate bonds, government bonds, digital gold and bonds.
Choice Broking vs ICICI Direct — Complete Comparison of Products
| Product | Choice Broking | ICICI Direct |
|---|---|---|
| Equity Delivery | Yes | Yes |
| Equity Intraday | Yes | Yes |
| Equity Option | Yes | Yes |
| Equity Future | Yes | Yes |
| Commodity Option | Yes | Yes |
| Commodity Future | Yes | Yes |
| Currency Option | Yes | Yes |
| Currency Future | Yes | Yes |
| Foreign Stocks | No | No |
| Mutual Funds | No | Yes |
| Banking | Yes | |
| Insurance | Yes | Yes |
| Corporate Bonds | No | Yes |
| Government Bonds | No | Yes |
| Digital Gold | No | No |
Demat services: Choice Broking and ICICI Direct both list Demat services.
Trading services: Choice Broking and ICICI Direct both list trading services.
Intraday services: Choice Broking and ICICI Direct both list intraday trading services.
F&O services: Choice Broking and ICICI Direct both list F&O services.
IPO services: ICICI Direct lists IPO services, while Choice Broking does not currently mention it.
3-in-1 account: ICICI Direct lists 3-in-1 account support, while Choice Broking does not currently mention it.
Stock research: Choice Broking and ICICI Direct both list stock research.
Stock recommendations: Choice Broking and ICICI Direct both list stock recommendations.
Trading education: ICICI Direct lists trading education, while Choice Broking does not currently mention it.
Share pledging: Choice Broking and ICICI Direct both list share pledging.
PMS or PCG: ICICI Direct lists PMS or PCG support, while Choice Broking does not currently mention it.
NRI services: ICICI Direct lists NRI services, while Choice Broking does not currently mention it.
Choice Broking provides Demat services, trading services, intraday trading, F&O trading, stock research and stock recommendations, while ICICI Direct offers Demat services, trading services, intraday trading, F&O trading, IPO access and 3-in-1 account support.
Choice Broking vs ICICI Direct — In-Depth Comparison of Services
| Service | Choice Broking | ICICI Direct |
|---|---|---|
| Demat Services | Yes | Yes |
| Trading Services | Yes | Yes |
| Intraday Services | Yes | Yes |
| F&O Services | Yes | Yes |
| IPO Services | No | Yes |
| 3-in-1 Account | No | Yes |
| Stock Research | Yes | Yes |
| Stock Recommendations | Yes | Yes |
| Trading Education | No | Yes, iLearn |
| Share Pledging | Yes | Yes |
| PMS or PCG | No | Yes |
| NRI Services | No | Yes |
Stock advisory helps investors choose appropriate stocks through research reports, tips, and market reviews. The table below shows which advisory products are available from Choice Broking and ICICI Direct.
Choice Broking and ICICI Direct — Detailed Comparison of Advisory Services
| Advisory | Choice Broking | ICICI Direct |
|---|---|---|
| Fundamental Reports | Yes | Yes |
| Research Reports | Yes | Yes |
| Company Reports | Yes | Yes |
| Annual Reports | Yes | Yes |
| IPO Reports | No | Yes |
| Technical Reports | No | Yes |
| Stock Tips | Yes | Yes |
| Daily Top Stock Picks | Yes | Yes |
| Daily Market Review | No | Yes |
| Monthly Review | Yes | Yes |
| Weekly Review | No | Yes |
| Relationship Manager | Yes | Yes |
| Robo Advisory | No | No |
Margin exposure allows traders to manage larger positions with less capital. Below is a comparison of the margin available from Choice Broking and ICICI Direct across different segments.
Choice Broking and ICICI Direct — Comprehensive Comparison of Trading Exposure
| Exposure | Choice Broking | ICICI Direct |
|---|---|---|
| Equity Delivery | 1x | 1x |
| Equity Intraday | Upto 5x (Depends on Stocks) | Upto 5x (Depends on Stocks) |
| Equity F&O Carry Forward | 1X | 1x |
| Equity F&O Intraday | 1.3x | 1.3x |
| Commodity F&O Carry Forward | 1x | 1x |
| Commodity F&O Intraday | 1.3x | 1.3x |
| Currency F&O | 1x | 1x |
Choice Broking and ICICI Direct both list a sub-broker program. Choice Broking and ICICI Direct both list a partner program. Choice Broking and ICICI Direct both list a referral program.
Choice Broking vs ICICI Direct — Comparative Analysis of Programs
| Program | Choice Broking | ICICI Direct |
|---|---|---|
| Sub-Broker Program | Yes | Yes |
| Partner Program | Yes | Yes |
| Referral Program | Yes | Yes |
Choice Broking provides support through trading desk support, dedicated dealer assistance, call support, email support and website support. ICICI Direct provides support through trading desk support, dedicated dealer assistance, call support, email support and website support. Choice Broking operates Available branches. ICICI Direct operates Available branches.
Choice Broking and ICICI Direct — Comprehensive Comparison of Customer Support
| Support Channel | Choice Broking | ICICI Direct |
|---|---|---|
| Trading Support | Available, Free | Available, Free |
| Dedicated Dealer | Available, Free | Available, Free |
| Call Support | 022-67079999 | 1860-123-1122 |
| Email Support | [email protected] | [email protected] |
| WhatsApp Support | NA | NA |
| Website Support | Website Link | Website Link |
| Facebook Support | Facebook Support Link | Facebook Support Link |
| Twitter / X Support | Twitter Support Link | Twitter Support Link |
| Telegram Support | Telegram Support Link | Telegram Support Link |
| Branches / Offices | Available | Available |
Both brokers have been evaluated across key parameters to help investors make an informed comparison. Choice Broking carries an overall rating of 8.63 / 10, while ICICI Direct carries an overall rating of 9.65 / 10.
Choice Broking vs ICICI Direct — Ratings Comparison
| Rating Parameter | Choice Broking | ICICI Direct |
|---|---|---|
| Overall Rating | 8.63 / 10 | 9.65 / 10 |
| Customer Support | 8.59 / 10 | 9.61 / 10 |
| Technology | 8.73 / 10 | 9.77 / 10 |
| Charges | 8.66 / 10 | 9.69 / 10 |
| Products & Services | 8.58 / 10 | 9.60 / 10 |
| Experience | 8.56 / 10 | 9.58 / 10 |
SEBI, BSE, and NSE regularly publish broker complaint data as part of investor protection oversight. The table below shows the complaint records for both brokers.
Choice Broking & ICICI Direct — Comparison of Customer Complaints
| Complaint Metric | Choice Broking | ICICI Direct |
|---|---|---|
| Total Complaints Lodged | 78 | 402 |
| Total Complaints Resolved | 69 | 337 |
| % of Resolved Complaints | 88.46% | 83.83% |
| Non-Actionable Complaints | 6 | 16 |
| % of Non-Actionable Complaints | 7.69% | 3.98% |
Transaction charges are levied by the stockbroker for executing each trade. Below is a segment-wise comparison for Choice Broking and ICICI Direct.
Choice Broking vs ICICI Direct — Detailed Comparison of Transaction Charges
| Transaction Charges | Choice Broking | ICICI Direct |
|---|---|---|
| Equity Delivery | 0.00325% (NSE) & As per Stock (BSE) | |
| Equity Intraday | 0.00325% (NSE) & As per Stock (BSE) | |
| Equity Future | 0.0019% (NSE & BSE) | |
| Equity Option | 0.053% (on premium) | |
| Commodity Future | 0.0021% (Non-Agri) / 0.006% (Agri) / 0.0005% (Special) | |
| Commodity Option | 0.05% (Non Agri) | |
| Currency Future | 0.0009% (NSE) & 0.00022% (BSE) | |
| Currency Option | 0.035% (NSE) & 0.001% (BSE) |
Pledge creation charges apply when traders borrow against their held securities. Pledge invocation charges apply if the pledged shares are sold due to a shortfall. Margin trading interest is the rate charged on borrowed funds.
Choice Broking & ICICI Direct — Comprehensive Comparison of Pledge Charges
| Pledge Charge | Choice Broking | ICICI Direct |
|---|---|---|
| Pledge Creation Charges | 0.02% of Value | |
| Pledge Invocation Charges | 0.02% of Value | |
| Margin Trading Interest | 0.07% per day |
Beyond brokerage, several statutory and operational charges apply. These include SEBI turnover fees, DP charges, GST, account closure, reactivation, dematerialisation, and call & trade charges.
Choice Broking and ICICI Direct — Detailed Comparison of Hidden / Other Charges
| Charge | Choice Broking | ICICI Direct |
|---|---|---|
| SEBI Turnover Charges | Rs.10/ Crore (All Segment) | |
| DP Charges | Rs.13.5 per Scrip only on Sell | |
| GST | 18% on (Brokerage + SEBI + Transaction charges) | |
| Account Closure Charges | Free | |
| Reactivation Charges | Free | |
| Dematerialisation Charges | Rs.50 per Certificate | |
| Call & Trade Charges | Free – 1st 20 Calls per Month |
Choice Broking lists account opening charges of Free and Demat AMC of Rs.200 – Rs.3000 (First year free). ICICI Direct lists account opening charges of Free and Demat AMC of Rs.300 per Year.
Choice Broking vs ICICI Direct — Detailed Comparison of Demat Charges
| Demat Charges | Choice Broking | ICICI Direct |
|---|---|---|
| Account Opening Charges | Free | Free |
| Annual Maintenance Charges (AMC) | Rs.200 – Rs.3000 (First year free) | Rs.300 per Year |
Securities Transaction Tax (STT) and Commodity Transaction Tax (CTT) are government levies — the same for all brokers in India. These are shown below for reference.
Choice Broking vs ICICI Direct — Comparative Analysis of STT and CTT Charges
| STT & CTT | Choice Broking | ICICI Direct |
|---|---|---|
| Equity Delivery | 0.1% on buy & sell | |
| Equity Intraday | 0.025% on sell | |
| Equity Future | 0.0125% on sell | |
| Equity Option | 0.0625% on sell (on premium) | |
| Commodity Future | 0.01% on sell (Non-Agri) | |
| Commodity Option | 0.05% on sell | |
| Currency Future | Nil | |
| Currency Option | Nil |
Stamp duty is a government tax charged when the broker issues, sells, or transfers a security. It is collected at the end of each trading day.
Choice Broking and ICICI Direct — Comparison of Stamp Duty Charges
| Stamp Duty | Choice Broking | ICICI Direct |
|---|---|---|
| Equity Delivery | 0.015% on buy | |
| Equity Intraday | 0.003% on buy | |
| Equity Future | 0.002% on buy | |
| Equity Option | 0.003% on buy | |
| Commodity Future | 0.002% on buy | |
| Commodity Option | 0.003% on buy | |
| Currency Future | 0.0001% on buy | |
| Currency Option | 0.0001% on buy |