SBI Securities and ICICI Direct are two stockbrokers that investors often compare for brokerage charges, products, trading platforms, and account costs. SBI Securities is listed as a Public Discount Broker , established in Arun Mehta 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 SBI Securities or ICICI Direct is a better fit for your investment style, platform preference, and budget.
SBI Securities is listed as a Public Discount Broker established in Arun Mehta with headquarters in Mumbai and founded by Arun Mehta. 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 and desktop terminal access and promotes features such as watchlists, real-time updates, portfolio tracking, online mutual fund access, research reports 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.
SBI Securities vs ICICI Direct — A Comprehensive Company Overview
| Company Overview | SBI Securities | ICICI Direct |
|---|---|---|
| Company Type | Public | Public |
| Broker Type | Discount Broker | Discount Broker |
| Headquarters | Mumbai | Mumbai |
| Founder | Arun Mehta | Vjay Chandok |
| Establishment Year | Arun Mehta | 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 SBI Securities and ICICI Direct.
Equity delivery: This charge applies to buy-and-hold stock positions held beyond one trading session. SBI Securities charges 0.50% 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. SBI Securities charges 0.075% of Transaction Value while ICICI Direct charges Rs.20 per Trade.
Equity futures: This charge applies to futures contracts on stocks and indices. SBI Securities charges 0.05% of Transaction Value while ICICI Direct charges Free.
Equity options: This charge applies to equity option contracts. SBI Securities charges Rs.50 to Rs.100 per lot while ICICI Direct charges Rs.20 per Trade.
Commodity futures: This charge covers commodities such as gold, silver, and crude oil. SBI Securities charges 0.05% of Transaction Value while ICICI Direct charges Rs.20 per Trade.
Commodity options: This charge applies to option contracts on commodity instruments. SBI Securities charges Rs.50 to Rs.100 per lot while ICICI Direct charges Rs.20 per Trade.
Currency futures: This charge allows participation in forex price movements on the exchange. SBI Securities charges 0.05% of Transaction Value while ICICI Direct charges Rs.20 per Trade.
Currency options: This charge enables traders to hedge or speculate on currency fluctuations. SBI Securities charges Rs.20 to Rs.30 per lot while ICICI Direct charges Rs.20 per Trade.
SBI Securities vs ICICI Direct — Detailed Brokerage Comparison
| Brokerage | SBI Securities | ICICI Direct |
|---|---|---|
| Brokerage Plan | Standard Plan | Neo Plan |
| Subscription Charges | Zero | Zero |
| Equity Delivery | 0.50% of Transaction Value | 0.27% of Total Transaction |
| Equity Intraday | 0.075% of Transaction Value | Rs.20 per Trade |
| Equity Future | 0.05% of Transaction Value | Free |
| Equity Option | Rs.50 to Rs.100 per lot | Rs.20 per Trade |
| Commodity Future | 0.05% of Transaction Value | Rs.20 per Trade |
| Commodity Option | Rs.50 to Rs.100 per lot | Rs.20 per Trade |
| Currency Future | 0.05% of Transaction Value | Rs.20 per Trade |
| Currency Option | Rs.20 to Rs.30 per lot | Rs.20 per Trade |
SBI Securities provides mobile app access, web trading and desktop terminal access 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: SBI Securities and ICICI Direct both list an Android trading app.
iOS app: SBI Securities and ICICI Direct both list an iOS trading app.
Web trading platform: SBI Securities and ICICI Direct both list a web trading platform.
Desktop trading terminal: SBI Securities and ICICI Direct both list a desktop trading terminal.
Algo trading: ICICI Direct lists algo trading support, while SBI Securities does not currently mention it.
Basket trading: SBI Securities and ICICI Direct both list basket trading.
Foreign stocks platform: Neither broker currently highlights foreign stocks access.
Mutual fund platform: SBI Securities and ICICI Direct both list a mutual fund investment platform.
Digital gold platform: ICICI Direct lists digital gold investing, while SBI Securities does not currently mention it.
Bonds platform: SBI Securities and ICICI Direct both list a bonds investment platform.
SBI Securities vs ICICI Direct — Complete Comparison of Trading Platforms
| Trading Platform | SBI Securities | ICICI Direct |
|---|---|---|
| Android App | SBI Securities Android App Link | ICICI Direct Android App Link |
| iOS App | SBI Securities iOS App Link | ICICI Direct iOS App Link |
| Web Trading Platform | SBI Securities Web Trading Link | ICICI Direct Web Trading Link |
| Trading Terminal | Available | Available |
| Algo Trading Platform | NA | Available |
| Foreign Stocks Platform | NA | NA |
| Basket Trading Platform | Available | Available |
| Mutual Fund Platform | Available | Available |
| Digital Gold Platform | NA | Available |
| Bonds Platform | Available | Available |
SBI Securities highlights trading features including watchlists, real-time updates, portfolio tracking, online mutual fund access, research reports 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 SBI Securities and ICICI Direct offer this feature.
Real time updates: Get timely updates on market trends, stock prices, and other market data. Both SBI Securities and ICICI Direct offer this feature.
Portfolio details: A detailed snapshot of all investments — stocks, bonds, and commodities — in one place. Both SBI Securities and ICICI Direct offer this feature.
Online mf buy: Buy or sell mutual funds directly from the trading platform or mobile application. Both SBI Securities and ICICI Direct offer this feature.
Research reports: A comprehensive overview of different stocks and sectors in the stock market. Both SBI Securities and ICICI Direct offer this feature.
Global indices: Real-time data on leading global stock market indices. ICICI Direct offers this; SBI Securities does not currently highlight it.
Customised recommendations: Personalised investment suggestions based on your objectives and behaviour patterns. ICICI Direct offers this; SBI Securities does not currently highlight it.
Stock tips: Valuable tips on stocks to buy, hold, or sell based on market trends. Both SBI Securities and ICICI Direct offer this feature.
Interactive charts: Visual price movement charts to help analyse when to buy or sell. Both SBI Securities and ICICI Direct offer this feature.
Live market: Live updates on market movements and trends. Both SBI Securities and ICICI Direct offer this feature.
Multi profile management: Manage multiple trading profiles from a single account. SBI Securities offers this; ICICI Direct does not currently highlight it.
Secure platform: A secure trading environment with next-generation security controls. Both SBI Securities and ICICI Direct offer this feature.
SBI Securities vs ICICI Direct — Comprehensive Comparison of Trading Features
| Trading Feature | SBI Securities | ICICI Direct |
|---|---|---|
| Wishlist | Yes | Yes |
| Real-Time Updates | Yes | Yes |
| Portfolio Details | Yes | Yes |
| Online MF Buy | Yes | Yes |
| Research Reports | Yes | Yes |
| Global Indices | No | Yes |
| Customised Recommendations | No | Yes |
| Stock Tips | Yes | Yes |
| Interactive Charts | Yes | Yes |
| Live Market | Yes | Yes |
| Multi Profile Management | Yes | 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 SBI Securities and ICICI Direct.
Free account opening: ICICI Direct lists free account opening, while SBI Securities does not currently mention it.
Free AMC: Neither broker currently highlights free Demat AMC.
Free brokerage: ICICI Direct lists free brokerage, while SBI Securities does not currently mention it.
Flat brokerage: ICICI Direct lists flat brokerage pricing, while SBI Securities does not currently mention it.
Flexible brokerage plans: SBI Securities and ICICI Direct both list flexible brokerage plans.
Happy trading hours: ICICI Direct lists happy trading hours, while SBI 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 SBI Securities does not currently mention it.
Free research reports: SBI Securities and ICICI Direct both list free research reports.
Free trading calls: SBI Securities and ICICI Direct both list free trading calls.
Zero brokerage for loss trades: Neither broker currently highlights zero brokerage for loss-making trades.
Referral offers: SBI Securities offers Upto Rs.700 per Client while ICICI Direct offers Rs.500 per Client for referrals.
SBI Securities vs ICICI Direct — Comparison of Latest Offers
| Offer | SBI Securities | ICICI Direct |
|---|---|---|
| Free Account Opening | No | Yes |
| Free AMC | No | No |
| Free Brokerage | No | Yes |
| Flat Brokerage | No | Yes, Limited |
| Flexible Brokerage Plans | Yes | 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 | Yes | Yes |
| Free Trading Calls | Yes | Yes |
| Referral Offers | Upto Rs.700 per Client | Rs.500 per Client |
| Margin Funding / Pledging | Yes | Yes |
| Brokerage Cashback | Yes | Yes |
| Zero Brokerage for Loss-Making Trades | No | No |
Product availability determines whether a broker can support your preferred markets. SBI Securities 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, mutual funds, banking services, insurance, corporate bonds, government bonds, bonds and digital gold.
SBI Securities vs ICICI Direct — Complete Comparison of Products
| Product | SBI Securities | 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 | Yes | Yes |
| Banking | Yes | Yes |
| Insurance | Yes | Yes |
| Corporate Bonds | Yes | Yes |
| Government Bonds | Yes | Yes |
| Digital Gold | No | No |
Demat services: SBI Securities and ICICI Direct both list Demat services.
Trading services: SBI Securities and ICICI Direct both list trading services.
Intraday services: SBI Securities and ICICI Direct both list intraday trading services.
F&O services: SBI Securities and ICICI Direct both list F&O services.
IPO services: SBI Securities and ICICI Direct both list IPO services.
3-in-1 account: SBI Securities and ICICI Direct both list 3-in-1 account support.
Stock research: SBI Securities and ICICI Direct both list stock research.
Stock recommendations: SBI Securities and ICICI Direct both list stock recommendations.
Trading education: SBI Securities and ICICI Direct both list trading education.
Share pledging: SBI Securities and ICICI Direct both list share pledging.
PMS or PCG: SBI Securities and ICICI Direct both list PMS or PCG support.
NRI services: SBI Securities and ICICI Direct both list NRI services.
SBI Securities provides Demat services, trading services, intraday trading, F&O trading, IPO access and 3-in-1 account support, while ICICI Direct offers Demat services, trading services, intraday trading, F&O trading, IPO access and 3-in-1 account support.
SBI Securities vs ICICI Direct — In-Depth Comparison of Services
| Service | SBI Securities | ICICI Direct |
|---|---|---|
| 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, Investor Sarathi | Yes, iLearn |
| 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 SBI Securities and ICICI Direct.
SBI Securities and ICICI Direct — Detailed Comparison of Advisory Services
| Advisory | SBI Securities | ICICI Direct |
|---|---|---|
| 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 | 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 SBI Securities and ICICI Direct across different segments.
SBI Securities and ICICI Direct — Comprehensive Comparison of Trading Exposure
| Exposure | SBI Securities | 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 |
SBI Securities and ICICI Direct both list a sub-broker program. SBI Securities and ICICI Direct both list a partner program. SBI Securities and ICICI Direct both list a referral program.
SBI Securities vs ICICI Direct — Comparative Analysis of Programs
| Program | SBI Securities | ICICI Direct |
|---|---|---|
| Sub-Broker Program | Yes | Yes |
| Partner Program | Yes | Yes |
| Referral Program | Yes | Yes |
SBI Securities 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. SBI Securities operates Available branches. ICICI Direct operates Available branches.
SBI Securities and ICICI Direct — Comprehensive Comparison of Customer Support
| Support Channel | SBI Securities | ICICI Direct |
|---|---|---|
| Trading Support | Available, Free | Available, Free |
| Dedicated Dealer | Available, Free | Available, Free |
| Call Support | 022-68545555 | 1860-123-1122 |
| Email Support | [email protected] | [email protected] |
| WhatsApp Support | 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. SBI Securities carries an overall rating of 8.95 / 10, while ICICI Direct carries an overall rating of 9.65 / 10.
SBI Securities vs ICICI Direct — Ratings Comparison
| Rating Parameter | SBI Securities | ICICI Direct |
|---|---|---|
| Overall Rating | 8.95 / 10 | 9.65 / 10 |
| Customer Support | 8.92 / 10 | 9.61 / 10 |
| Technology | 9.06 / 10 | 9.77 / 10 |
| Charges | 8.99 / 10 | 9.69 / 10 |
| Products & Services | 8.90 / 10 | 9.60 / 10 |
| Experience | 8.88 / 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.
SBI Securities & ICICI Direct — Comparison of Customer Complaints
| Complaint Metric | SBI Securities | ICICI Direct |
|---|---|---|
| Total Complaints Lodged | 182 | 402 |
| Total Complaints Resolved | 162 | 337 |
| % of Resolved Complaints | 89.01% | 83.83% |
| Non-Actionable Complaints | 11 | 16 |
| % of Non-Actionable Complaints | 6.04% | 3.98% |
Transaction charges are levied by the stockbroker for executing each trade. Below is a segment-wise comparison for SBI Securities and ICICI Direct.
SBI Securities vs ICICI Direct — Detailed Comparison of Transaction Charges
| Transaction Charges | SBI Securities | 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.
SBI Securities & ICICI Direct — Comprehensive Comparison of Pledge Charges
| Pledge Charge | SBI Securities | 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.
SBI Securities and ICICI Direct — Detailed Comparison of Hidden / Other Charges
| Charge | SBI Securities | 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 |
SBI Securities lists account opening charges of Rs.850 and Demat AMC of Rs.750. ICICI Direct lists account opening charges of Free and Demat AMC of Rs.300 per Year.
SBI Securities vs ICICI Direct — Detailed Comparison of Demat Charges
| Demat Charges | SBI Securities | ICICI Direct |
|---|---|---|
| Account Opening Charges | Rs.850 | Free |
| Annual Maintenance Charges (AMC) | Rs.750 | 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.
SBI Securities vs ICICI Direct — Comparative Analysis of STT and CTT Charges
| STT & CTT | SBI Securities | 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.
SBI Securities and ICICI Direct — Comparison of Stamp Duty Charges
| Stamp Duty | SBI Securities | 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 |