‘ICICIdirect Neo’ is a zero brokerage plan announced by ICICI Securities (I-Sec) after Kotak Securities Limited. It offers unlimited trading with zero brokerage on all future trades and flat ₹20 for intraday trade and options trade. The customers of this plan will also get features like instant liquidity, where customers have cashback within 30 minutes of selling the stocks, access to ICICI direct research reports with over 300 companies under fundamental trading, and margin trading funding at an interest rate of 8.9% per annum. It also has the feature of access to proprietary and third-party trading tools to get the best out of any market situations and also permits to One-Click Portfolios with a lot of research curated theme based (fundamental or technical or a combination of both) stocks or MFs. ICICI Securities Limited (I-Sec) is a subdivision of ICICI Bank Ltd. The company began its operation in May 1995.
Vijay Chandok, Managing Director & Chief Executive Officer of ICICI Securities said that the launch of ICICIdirect Neo is in response to the feedback of the brokerage received from their trading customers. This new plan provides a zero brokerage on all futures trades, and a flat ₹20 per order as brokerage on margin and options trades. ICICIdirect Neo is tailor-made for the customers and this will aid in their hunt for maximizing profits. It’s a very strong proposition for the trading community who can enjoy the combination of low, he added.
Last month Kotak Securities Limited (KSL), a subsidiary of Kotak Mahindra Bank has launched new plans with zero brokerage on intraday trades and ₹20 per order. This brokerage plan is available for all other future & options (F&O) trades including equity, commodity, and currency segments This, free trade plan comes with an exciting feature which is a refund of fees and brokerage within a month if the customer is not satisfied with the trade and the facilities. Instead of cash customers can also give as a margin for trading. This offering will help Kotak Securities improve its market share in the F&O segment. Thus the competition within Indian stockbroking firms getting stiffer and harder.
