ICICI Direct and HDFC Securities 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 HDFC Securities is listed as a Private Discount Broker , established in 2000 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 HDFC Securities 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.
HDFC Securities is listed as a Private Discount Broker established in 2000 with headquarters in Mumbai and founded by Dhiraj Relli. It offers equity delivery, equity intraday, equity futures, equity options, commodity futures, commodity options and currency futures using mobile app access, web trading and desktop terminal access 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 Starter Pack – Lite 199.
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 HDFC Securities — A Comprehensive Company Overview
| Company Overview | ICICI Direct | HDFC Securities |
|---|---|---|
| Company Type | Public | Private |
| Broker Type | Discount Broker | Discount Broker |
| Headquarters | Mumbai | Mumbai |
| Founder | Vjay Chandok | Dhiraj Relli |
| Establishment Year | 1994 | 2000 |
| Brokerage Plan | Neo Plan | Starter Pack – Lite 199 |
Brokerage is the primary cost to compare when choosing a broker. Below is a segment-by-segment breakdown for ICICI Direct and HDFC Securities.
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 HDFC Securities charges 0.32% 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 HDFC Securities charges 0.032% of Transaction Value.
Equity futures: This charge applies to futures contracts on stocks and indices. ICICI Direct charges Free while HDFC Securities charges Rs.20 per Trade.
Equity options: This charge applies to equity option contracts. ICICI Direct charges Rs.20 per Trade while HDFC Securities charges Rs.20 per Trade.
Commodity futures: This charge covers commodities such as gold, silver, and crude oil. ICICI Direct charges Rs.20 per Trade while HDFC Securities charges 0.025% of Transaction Value.
Commodity options: This charge applies to option contracts on commodity instruments. ICICI Direct charges Rs.20 per Trade while HDFC Securities charges Rs.20 per Lot.
Currency futures: This charge allows participation in forex price movements on the exchange. ICICI Direct charges Rs.20 per Trade while HDFC Securities charges 0.025% of Transaction Value.
Currency options: This charge enables traders to hedge or speculate on currency fluctuations. ICICI Direct charges Rs.20 per Trade while HDFC Securities charges Rs.25 per Lot.
ICICI Direct vs HDFC Securities — Detailed Brokerage Comparison
| Brokerage | ICICI Direct | HDFC Securities |
|---|---|---|
| Brokerage Plan | Neo Plan | Starter Pack – Lite 199 |
| Subscription Charges | Zero | Zero |
| Equity Delivery | 0.27% of Total Transaction | 0.32% of Transaction Value |
| Equity Intraday | Rs.20 per Trade | 0.032% of Transaction Value |
| Equity Future | Free | Rs.20 per Trade |
| Equity Option | Rs.20 per Trade | Rs.20 per Trade |
| Commodity Future | Rs.20 per Trade | 0.025% of Transaction Value |
| Commodity Option | Rs.20 per Trade | Rs.20 per Lot |
| Currency Future | Rs.20 per Trade | 0.025% of Transaction Value |
| Currency Option | Rs.20 per Trade | Rs.25 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. HDFC Securities provides mobile app access, web trading and desktop terminal access for its users.
Android app: ICICI Direct and HDFC Securities both list an Android trading app.
iOS app: ICICI Direct and HDFC Securities both list an iOS trading app.
Web trading platform: ICICI Direct and HDFC Securities both list a web trading platform.
Desktop trading terminal: ICICI Direct and HDFC Securities both list a desktop trading terminal.
Algo trading: ICICI Direct lists algo trading support, while HDFC Securities does not currently mention it.
Basket trading: ICICI Direct and HDFC Securities both list basket trading.
Foreign stocks platform: HDFC Securities lists foreign stocks access, while ICICI Direct does not currently mention it.
Mutual fund platform: ICICI Direct and HDFC Securities both list a mutual fund investment platform.
Digital gold platform: ICICI Direct lists digital gold investing, while HDFC Securities does not currently mention it.
Bonds platform: ICICI Direct and HDFC Securities both list a bonds investment platform.
ICICI Direct vs HDFC Securities — Complete Comparison of Trading Platforms
| Trading Platform | ICICI Direct | HDFC Securities |
|---|---|---|
| Android App | ICICI Direct Android App Link | HDFC Securities Android App Link |
| iOS App | ICICI Direct iOS App Link | HDFC Securities iOS App Link |
| Web Trading Platform | ICICI Direct Web Trading Link | HDFC Securities Web Trading Link |
| Trading Terminal | Available | Available |
| Algo Trading Platform | Available | NA |
| Foreign Stocks Platform | NA | Available |
| Basket Trading Platform | Available | Available |
| Mutual Fund Platform | Available | Available |
| Digital Gold Platform | Available | NA |
| Bonds Platform | Available | Available |
ICICI Direct highlights trading features including watchlists, real-time updates, portfolio tracking, online mutual fund access, research reports and global indices tracking, while HDFC Securities 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 ICICI Direct and HDFC Securities offer this feature.
Real time updates: Get timely updates on market trends, stock prices, and other market data. Both ICICI Direct and HDFC Securities offer this feature.
Portfolio details: A detailed snapshot of all investments — stocks, bonds, and commodities — in one place. Both ICICI Direct and HDFC Securities offer this feature.
Online mf buy: Buy or sell mutual funds directly from the trading platform or mobile application. Both ICICI Direct and HDFC Securities offer this feature.
Research reports: A comprehensive overview of different stocks and sectors in the stock market. Both ICICI Direct and HDFC Securities offer this feature.
Global indices: Real-time data on leading global stock market indices. Both ICICI Direct and HDFC Securities offer this feature.
Customised recommendations: Personalised investment suggestions based on your objectives and behaviour patterns. ICICI Direct offers this; HDFC Securities does not currently highlight it.
Stock tips: Valuable tips on stocks to buy, hold, or sell based on market trends. ICICI Direct offers this; HDFC Securities does not currently highlight it.
Interactive charts: Visual price movement charts to help analyse when to buy or sell. Both ICICI Direct and HDFC Securities offer this feature.
Live market: Live updates on market movements and trends. Both ICICI Direct and HDFC Securities offer this feature.
Secure platform: A secure trading environment with next-generation security controls. Both ICICI Direct and HDFC Securities offer this feature.
ICICI Direct vs HDFC Securities — Comprehensive Comparison of Trading Features
| Trading Feature | ICICI Direct | HDFC Securities |
|---|---|---|
| Wishlist | Yes | Yes |
| Real-Time Updates | Yes | Yes |
| Portfolio Details | Yes | Yes |
| Online MF Buy | Yes | Yes |
| Research Reports | Yes | Yes |
| Global Indices | Yes | Yes |
| Customised Recommendations | Yes | No |
| Stock Tips | Yes | No |
| 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 HDFC Securities.
Free account opening: ICICI Direct lists free account opening, while HDFC Securities does not currently mention it.
Free AMC: Neither broker currently highlights free Demat AMC.
Free brokerage: ICICI Direct lists free brokerage, while HDFC Securities does not currently mention it.
Flat brokerage: ICICI Direct and HDFC Securities both list flat brokerage pricing.
Flexible brokerage plans: ICICI Direct and HDFC Securities both list flexible brokerage plans.
Happy trading hours: ICICI Direct lists happy trading hours, while HDFC Securities 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 HDFC Securities does not currently mention it.
Free research reports: ICICI Direct and HDFC Securities both list free research reports.
Free trading calls: ICICI Direct and HDFC Securities both list free trading calls.
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 HDFC Securities offers Rs.200 per Client for referrals.
ICICI Direct vs HDFC Securities — Comparison of Latest Offers
| Offer | ICICI Direct | HDFC Securities |
|---|---|---|
| Free Account Opening | Yes | No |
| Free AMC | No | No |
| Free Brokerage | Yes | No |
| Flat Brokerage | Yes, Limited | Yes, Limited |
| Flexible Brokerage Plans | Yes | Yes |
| 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 | Yes |
| Free Trading Calls | Yes | Yes |
| Referral Offers | Rs.500 per Client | Rs.200 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 HDFC Securities 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, bonds and foreign stocks.
ICICI Direct vs HDFC Securities — Complete Comparison of Products
| Product | ICICI Direct | HDFC Securities |
|---|---|---|
| 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 | Yes |
| Mutual Funds | Yes | Yes |
| Banking | Yes | Yes |
| Insurance | Yes | Yes |
| Corporate Bonds | Yes | Yes |
| Government Bonds | Yes | Yes |
| Digital Gold | No | No |
Demat services: ICICI Direct and HDFC Securities both list Demat services.
Trading services: ICICI Direct and HDFC Securities both list trading services.
Intraday services: ICICI Direct and HDFC Securities both list intraday trading services.
F&O services: ICICI Direct and HDFC Securities both list F&O services.
IPO services: ICICI Direct and HDFC Securities both list IPO services.
3-in-1 account: ICICI Direct and HDFC Securities both list 3-in-1 account support.
Stock research: ICICI Direct and HDFC Securities both list stock research.
Stock recommendations: ICICI Direct and HDFC Securities both list stock recommendations.
Trading education: ICICI Direct lists trading education, while HDFC Securities does not currently mention it.
Share pledging: ICICI Direct and HDFC Securities both list share pledging.
PMS or PCG: ICICI Direct and HDFC Securities both list PMS or PCG support.
NRI services: ICICI Direct and HDFC Securities both list NRI services.
ICICI Direct provides Demat services, trading services, intraday trading, F&O trading, IPO access and 3-in-1 account support, while HDFC Securities offers Demat services, trading services, intraday trading, F&O trading, IPO access and 3-in-1 account support.
ICICI Direct vs HDFC Securities — In-Depth Comparison of Services
| Service | ICICI Direct | HDFC Securities |
|---|---|---|
| Demat Services | Yes | Yes |
| Trading Services | Yes | Yes |
| Intraday Services | Yes | Yes |
| F&O Services | Yes | Yes |
| IPO Services | Yes | Yes |
| 3-in-1 Account | Yes | Yes |
| Stock Research | Yes | Yes |
| Stock Recommendations | Yes | Yes |
| Trading Education | Yes, iLearn | No |
| Share Pledging | Yes | Yes |
| PMS or PCG | Yes | Yes |
| NRI Services | Yes | 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 ICICI Direct and HDFC Securities.
ICICI Direct and HDFC Securities — Detailed Comparison of Advisory Services
| Advisory | ICICI Direct | HDFC Securities |
|---|---|---|
| Fundamental Reports | Yes | Yes |
| Research Reports | Yes | Yes |
| Company Reports | Yes | Yes |
| Annual Reports | Yes | Yes |
| IPO Reports | Yes | Yes |
| Technical Reports | Yes | Yes |
| Stock Tips | Yes | Yes |
| Daily Top Stock Picks | Yes | Yes |
| Daily Market Review | Yes | Yes |
| Monthly Review | Yes | Yes |
| Weekly Review | Yes | Yes |
| Relationship Manager | Yes | No |
| 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 HDFC Securities across different segments.
ICICI Direct and HDFC Securities — Comprehensive Comparison of Trading Exposure
| Exposure | ICICI Direct | HDFC Securities |
|---|---|---|
| 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 HDFC Securities both list a sub-broker program. ICICI Direct and HDFC Securities both list a partner program. ICICI Direct and HDFC Securities both list a referral program.
ICICI Direct vs HDFC Securities — Comparative Analysis of Programs
| Program | ICICI Direct | HDFC Securities |
|---|---|---|
| Sub-Broker Program | Yes | Yes, Limited |
| 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. HDFC Securities provides support through trading desk support, dedicated dealer assistance, call support, website support and Facebook support. ICICI Direct operates Available branches. HDFC Securities operates Available branches.
ICICI Direct and HDFC Securities — Comprehensive Comparison of Customer Support
| Support Channel | ICICI Direct | HDFC Securities |
|---|---|---|
| Trading Support | Available, Free | Available, Free |
| Dedicated Dealer | Available, Free | Available, Free |
| Call Support | 1860-123-1122 | 022-39019400 |
| Email Support | [email protected] | NA |
| 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 HDFC Securities carries an overall rating of 9.50 / 10.
ICICI Direct vs HDFC Securities — Ratings Comparison
| Rating Parameter | ICICI Direct | HDFC Securities |
|---|---|---|
| Overall Rating | 9.65 / 10 | 9.50 / 10 |
| Customer Support | 9.61 / 10 | 9.46 / 10 |
| Technology | 9.77 / 10 | 9.61 / 10 |
| Charges | 9.69 / 10 | 9.53 / 10 |
| Products & Services | 9.60 / 10 | 9.44 / 10 |
| Experience | 9.58 / 10 | 9.42 / 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 & HDFC Securities — Comparison of Customer Complaints
| Complaint Metric | ICICI Direct | HDFC Securities |
|---|---|---|
| Total Complaints Lodged | 402 | 129 |
| Total Complaints Resolved | 337 | 104 |
| % of Resolved Complaints | 83.83% | 80.62% |
| Non-Actionable Complaints | 16 | 8 |
| % of Non-Actionable Complaints | 3.98% | 6.20% |
Transaction charges are levied by the stockbroker for executing each trade. Below is a segment-wise comparison for ICICI Direct and HDFC Securities.
ICICI Direct vs HDFC Securities — Detailed Comparison of Transaction Charges
| Transaction Charges | ICICI Direct | HDFC Securities |
|---|---|---|
| Equity Delivery | 0.00325% (NSE) & As per Stock (BSE) | NSE Rs 297 per Cr (0.00297%) | BSE Rs 375 per Cr (0.00375%) (each side) |
| Equity Intraday | 0.00325% (NSE) & As per Stock (BSE) | NSE Rs 297 per Cr (0.00297%) | BSE Rs 375 per Cr (0.00375%) (sell side) |
| Equity Future | 0.0019% (NSE & BSE) | NSE Rs 173 per Cr (0.00173%) | BSE Rs 0 |
| Equity Option | 0.053% (on premium) | NSE Rs 3503 per Cr (0.03503%) | BSE Rs 325 per Cr (0.00325%) (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) | NSE Rs 35 per Cr (0.00035%) | BSE Rs 45 per Cr (0.00045%) |
| Currency Option | 0.035% (NSE) & 0.001% (BSE) | NSE Rs 3110 per Cr (0.0311%) | BSE Rs 100 per Cr (0.001%) (on premium) |
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 & HDFC Securities — Comprehensive Comparison of Pledge Charges
| Pledge Charge | ICICI Direct | HDFC Securities |
|---|---|---|
| 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 HDFC Securities — Detailed Comparison of Hidden / Other Charges
| Charge | ICICI Direct | HDFC Securities |
|---|---|---|
| SEBI Turnover Charges | Rs.10/ Crore (All Segment) | 0.0001% (₹10/Crore) of the turnover |
| DP Charges | Rs.13.5 per Scrip only on Sell | |
| GST | 18% on (Brokerage + SEBI + Transaction charges) | 18% on (Brokerage + Transaction Charge + SEBI Fee) |
| 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. HDFC Securities lists account opening charges of Rs.199 and Demat AMC of Rs.750 per Year.
ICICI Direct vs HDFC Securities — Detailed Comparison of Demat Charges
| Demat Charges | ICICI Direct | HDFC Securities |
|---|---|---|
| Account Opening Charges | Free | Rs.199 |
| Annual Maintenance Charges (AMC) | Rs.300 per Year | Rs.750 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.
ICICI Direct vs HDFC Securities — Comparative Analysis of STT and CTT Charges
| STT & CTT | ICICI Direct | HDFC Securities |
|---|---|---|
| Equity Delivery | 0.1% on buy & sell | 0.1% of total transaction value |
| Equity Intraday | 0.025% on sell | 0.025% of turnover |
| Equity Future | 0.0125% on sell | 0.01% of turnover |
| Equity Option | 0.0625% on sell (on premium) | 0.05% |
| Commodity Future | 0.01% on sell (Non-Agri) | 0.01% |
| Commodity Option | 0.05% on sell | 0.05% |
| 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 HDFC Securities — Comparison of Stamp Duty Charges
| Stamp Duty | ICICI Direct | HDFC Securities |
|---|---|---|
| Equity Delivery | 0.015% on buy | 0.015% |
| Equity Intraday | 0.003% on buy | 0.003% |
| Equity Future | 0.002% on buy | 0.002% |
| Equity Option | 0.003% on buy | 0.003% |
| Commodity Future | 0.002% on buy | 0.002% |
| Commodity Option | 0.003% on buy | 0.003% (MCX) |
| Currency Future | 0.0001% on buy | 0.0001% |
| Currency Option | 0.0001% on buy | 0.0001% |