ICICI Direct and Choice Broking are two stockbrokers that investors often compare for brokerage charges, products, trading platforms, and account costs. ICICI Direct is listed as a Public Discount Broker , established in 1994 and headquartered in Mumbai, while Choice Broking is listed as a Private Discount Broker , established in 2010 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 ICICI Direct or Choice Broking is a better fit for your investment style, platform preference, and budget.
ICICI Direct is listed as a Public Discount Broker established in 1994 with headquarters in Mumbai and founded by Vjay Chandok. The broker highlights access to equity delivery, equity intraday, equity futures, equity options, commodity futures, commodity options and currency futures through mobile app access, web trading, desktop terminal access and algo trading support and promotes features such as watchlists, real-time updates, portfolio tracking, online mutual fund access, research reports and global indices tracking. It follows a Neo Plan brokerage structure.
Choice Broking is listed as a Private Discount Broker established in 2010 with headquarters in Mumbai and founded by Kamal Poddar. It offers equity delivery, equity intraday, equity futures, equity options, commodity futures, commodity options and currency futures using mobile app access and web trading and supports traders with features such as watchlists, real-time updates, portfolio tracking, research reports, customised recommendations and stock tips. Its brokerage model is structured as Standard 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.
ICICI Direct vs Choice Broking — A Comprehensive Company Overview
| Company Overview | ICICI Direct | Choice Broking |
|---|---|---|
| Company Type | Public | Private |
| Broker Type | Discount Broker | Discount Broker |
| Headquarters | Mumbai | Mumbai |
| Founder | Vjay Chandok | Kamal Poddar |
| Establishment Year | 1994 | 2010 |
| Brokerage Plan | Neo Plan | Standard Plan |
Brokerage is the primary cost to compare when choosing a broker. Below is a segment-by-segment breakdown for ICICI Direct and Choice Broking.
Equity delivery: This charge applies to buy-and-hold stock positions held beyond one trading session. ICICI Direct charges 0.27% of Total Transaction while Choice Broking charges 0.2% of Transaction Value.
Equity intraday: This charge applies to buy-sell positions closed within the same trading day. ICICI Direct charges Rs.20 per Trade while Choice Broking charges 0.2% of Transaction Value.
Equity futures: This charge applies to futures contracts on stocks and indices. ICICI Direct charges Free while Choice Broking charges 0.2% of Transaction Value.
Equity options: This charge applies to equity option contracts. ICICI Direct charges Rs.20 per Trade while Choice Broking charges Rs.25 per lot.
Commodity futures: This charge covers commodities such as gold, silver, and crude oil. ICICI Direct charges Rs.20 per Trade while Choice Broking charges 0.02% of Transaction Value.
Commodity options: This charge applies to option contracts on commodity instruments. ICICI Direct charges Rs.20 per Trade while Choice Broking charges Rs.50 per lot.
Currency futures: This charge allows participation in forex price movements on the exchange. ICICI Direct charges Rs.20 per Trade while Choice Broking charges 0.02% of Transaction Value.
Currency options: This charge enables traders to hedge or speculate on currency fluctuations. ICICI Direct charges Rs.20 per Trade while Choice Broking charges Rs.20 per lot.
ICICI Direct vs Choice Broking — Detailed Brokerage Comparison
| Brokerage | ICICI Direct | Choice Broking |
|---|---|---|
| Brokerage Plan | Neo Plan | Standard Plan |
| Subscription Charges | Zero | Zero |
| Equity Delivery | 0.27% of Total Transaction | 0.2% of Transaction Value |
| Equity Intraday | Rs.20 per Trade | 0.2% of Transaction Value |
| Equity Future | Free | 0.2% of Transaction Value |
| Equity Option | Rs.20 per Trade | Rs.25 per lot |
| Commodity Future | Rs.20 per Trade | 0.02% of Transaction Value |
| Commodity Option | Rs.20 per Trade | Rs.50 per lot |
| Currency Future | Rs.20 per Trade | 0.02% of Transaction Value |
| Currency Option | Rs.20 per Trade | Rs.20 per lot |
ICICI Direct provides mobile app access, web trading, desktop terminal access and algo trading support for order placement, portfolio tracking, and market monitoring. Choice Broking provides mobile app access and web trading for its users.
Android app: ICICI Direct and Choice Broking both list an Android trading app.
iOS app: ICICI Direct and Choice Broking both list an iOS trading app.
Web trading platform: ICICI Direct and Choice Broking 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.
ICICI Direct vs Choice Broking — Complete Comparison of Trading Platforms
| Trading Platform | ICICI Direct | Choice Broking |
|---|---|---|
| Android App | ICICI Direct Android App Link | Choice Broking Android App Link |
| iOS App | ICICI Direct iOS App Link | Choice Broking iOS App Link |
| Web Trading Platform | ICICI Direct Web Trading Link | Choice Broking Web Trading Link |
| Trading Terminal | Available | NA |
| Algo Trading Platform | Available | NA |
| Foreign Stocks Platform | NA | NA |
| Basket Trading Platform | Available | NA |
| Mutual Fund Platform | Available | NA |
| Digital Gold Platform | Available | NA |
| Bonds Platform | Available | NA |
ICICI Direct highlights trading features including watchlists, real-time updates, portfolio tracking, online mutual fund access, research reports and global indices tracking, while Choice Broking promotes watchlists, real-time updates, portfolio tracking, research reports, customised recommendations and stock tips. 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 ICICI Direct and Choice Broking offer this feature.
Real time updates: Get timely updates on market trends, stock prices, and other market data. Both ICICI Direct and Choice Broking offer this feature.
Portfolio details: A detailed snapshot of all investments — stocks, bonds, and commodities — in one place. Both ICICI Direct and Choice Broking 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 ICICI Direct and Choice Broking 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 ICICI Direct and Choice Broking offer this feature.
Stock tips: Valuable tips on stocks to buy, hold, or sell based on market trends. Both ICICI Direct and Choice Broking offer this feature.
Interactive charts: Visual price movement charts to help analyse when to buy or sell. Both ICICI Direct and Choice Broking offer this feature.
Live market: Live updates on market movements and trends. Both ICICI Direct and Choice Broking offer this feature.
Secure platform: A secure trading environment with next-generation security controls. Both ICICI Direct and Choice Broking offer this feature.
ICICI Direct vs Choice Broking — Comprehensive Comparison of Trading Features
| Trading Feature | ICICI Direct | Choice Broking |
|---|---|---|
| Wishlist | Yes | Yes |
| Real-Time Updates | Yes | Yes |
| Portfolio Details | Yes | Yes |
| Online MF Buy | Yes | No |
| Research Reports | Yes | Yes |
| Global Indices | Yes | No |
| 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 ICICI Direct and Choice Broking.
Free account opening: ICICI Direct and Choice Broking 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: ICICI Direct offers Rs.500 per Client while Choice Broking offers Upto Rs. 100 per Client for referrals.
ICICI Direct vs Choice Broking — Comparison of Latest Offers
| Offer | ICICI Direct | Choice Broking |
|---|---|---|
| Free Account Opening | Yes | Yes |
| Free AMC | No | No |
| Free Brokerage | Yes | No |
| Flat Brokerage | Yes, Limited | No |
| Flexible Brokerage Plans | Yes | No |
| Happy Trading Hours | Yes | No |
| Free Delivery Trading | No | No |
| Free Intraday Trading | No | No |
| Free F&O Trading | Yes | No |
| Free Research Reports | Yes | No |
| Free Trading Calls | Yes | No |
| Referral Offers | Rs.500 per Client | Upto Rs. 100 per Client |
| Margin Funding / Pledging | Yes | Yes |
| Brokerage Cashback | Yes | No |
| Zero Brokerage for Loss-Making Trades | No | No |
Product availability determines whether a broker can support your preferred markets. ICICI Direct highlights equity delivery, equity intraday, equity futures, equity options, commodity futures, commodity options and currency futures, while Choice Broking 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, mutual funds, banking services, insurance, corporate bonds, government bonds, digital gold and bonds.
ICICI Direct vs Choice Broking — Complete Comparison of Products
| Product | ICICI Direct | Choice Broking |
|---|---|---|
| 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 | Yes | No |
| Banking | Yes | |
| Insurance | Yes | Yes |
| Corporate Bonds | Yes | No |
| Government Bonds | Yes | No |
| Digital Gold | No | No |
Demat services: ICICI Direct and Choice Broking both list Demat services.
Trading services: ICICI Direct and Choice Broking both list trading services.
Intraday services: ICICI Direct and Choice Broking both list intraday trading services.
F&O services: ICICI Direct and Choice Broking 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: ICICI Direct and Choice Broking both list stock research.
Stock recommendations: ICICI Direct and Choice Broking both list stock recommendations.
Trading education: ICICI Direct lists trading education, while Choice Broking does not currently mention it.
Share pledging: ICICI Direct and Choice Broking 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.
ICICI Direct provides Demat services, trading services, intraday trading, F&O trading, IPO access and 3-in-1 account support, while Choice Broking offers Demat services, trading services, intraday trading, F&O trading, stock research and stock recommendations.
ICICI Direct vs Choice Broking — In-Depth Comparison of Services
| Service | ICICI Direct | Choice Broking |
|---|---|---|
| Demat Services | Yes | Yes |
| Trading Services | Yes | Yes |
| Intraday Services | Yes | Yes |
| F&O Services | Yes | Yes |
| IPO Services | Yes | No |
| 3-in-1 Account | Yes | No |
| Stock Research | Yes | Yes |
| Stock Recommendations | Yes | Yes |
| Trading Education | Yes, iLearn | No |
| Share Pledging | Yes | Yes |
| PMS or PCG | Yes | No |
| NRI Services | Yes | No |
Stock advisory helps investors choose appropriate stocks through research reports, tips, and market reviews. The table below shows which advisory products are available from ICICI Direct and Choice Broking.
ICICI Direct and Choice Broking — Detailed Comparison of Advisory Services
| Advisory | ICICI Direct | Choice Broking |
|---|---|---|
| Fundamental Reports | Yes | Yes |
| Research Reports | Yes | Yes |
| Company Reports | Yes | Yes |
| Annual Reports | Yes | Yes |
| IPO Reports | Yes | No |
| Technical Reports | Yes | No |
| Stock Tips | Yes | Yes |
| Daily Top Stock Picks | Yes | Yes |
| Daily Market Review | Yes | No |
| Monthly Review | Yes | Yes |
| Weekly Review | Yes | No |
| 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 ICICI Direct and Choice Broking across different segments.
ICICI Direct and Choice Broking — Comprehensive Comparison of Trading Exposure
| Exposure | ICICI Direct | Choice Broking |
|---|---|---|
| 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 |
ICICI Direct and Choice Broking both list a sub-broker program. ICICI Direct and Choice Broking both list a partner program. ICICI Direct and Choice Broking both list a referral program.
ICICI Direct vs Choice Broking — Comparative Analysis of Programs
| Program | ICICI Direct | Choice Broking |
|---|---|---|
| Sub-Broker Program | Yes | Yes |
| Partner Program | Yes | Yes |
| Referral Program | Yes | Yes |
ICICI Direct provides support through trading desk support, dedicated dealer assistance, call support, email support and website support. Choice Broking provides support through trading desk support, dedicated dealer assistance, call support, email support and website support. ICICI Direct operates Available branches. Choice Broking operates Available branches.
ICICI Direct and Choice Broking — Comprehensive Comparison of Customer Support
| Support Channel | ICICI Direct | Choice Broking |
|---|---|---|
| Trading Support | Available, Free | Available, Free |
| Dedicated Dealer | Available, Free | Available, Free |
| Call Support | 1860-123-1122 | 022-67079999 |
| 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. ICICI Direct carries an overall rating of 9.65 / 10, while Choice Broking carries an overall rating of 8.63 / 10.
ICICI Direct vs Choice Broking — Ratings Comparison
| Rating Parameter | ICICI Direct | Choice Broking |
|---|---|---|
| Overall Rating | 9.65 / 10 | 8.63 / 10 |
| Customer Support | 9.61 / 10 | 8.59 / 10 |
| Technology | 9.77 / 10 | 8.73 / 10 |
| Charges | 9.69 / 10 | 8.66 / 10 |
| Products & Services | 9.60 / 10 | 8.58 / 10 |
| Experience | 9.58 / 10 | 8.56 / 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.
ICICI Direct & Choice Broking — Comparison of Customer Complaints
| Complaint Metric | ICICI Direct | Choice Broking |
|---|---|---|
| Total Complaints Lodged | 402 | 78 |
| Total Complaints Resolved | 337 | 69 |
| % of Resolved Complaints | 83.83% | 88.46% |
| Non-Actionable Complaints | 16 | 6 |
| % of Non-Actionable Complaints | 3.98% | 7.69% |
Transaction charges are levied by the stockbroker for executing each trade. Below is a segment-wise comparison for ICICI Direct and Choice Broking.
ICICI Direct vs Choice Broking — Detailed Comparison of Transaction Charges
| Transaction Charges | ICICI Direct | Choice Broking |
|---|---|---|
| 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.
ICICI Direct & Choice Broking — Comprehensive Comparison of Pledge Charges
| Pledge Charge | ICICI Direct | Choice Broking |
|---|---|---|
| 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.
ICICI Direct and Choice Broking — Detailed Comparison of Hidden / Other Charges
| Charge | ICICI Direct | Choice Broking |
|---|---|---|
| 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 |
ICICI Direct lists account opening charges of Free and Demat AMC of Rs.300 per Year. Choice Broking lists account opening charges of Free and Demat AMC of Rs.200 – Rs.3000 (First year free).
ICICI Direct vs Choice Broking — Detailed Comparison of Demat Charges
| Demat Charges | ICICI Direct | Choice Broking |
|---|---|---|
| Account Opening Charges | Free | Free |
| Annual Maintenance Charges (AMC) | Rs.300 per Year | Rs.200 – Rs.3000 (First year free) |
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.
ICICI Direct vs Choice Broking — Comparative Analysis of STT and CTT Charges
| STT & CTT | ICICI Direct | Choice Broking |
|---|---|---|
| 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.
ICICI Direct and Choice Broking — Comparison of Stamp Duty Charges
| Stamp Duty | ICICI Direct | Choice Broking |
|---|---|---|
| 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 |