- Why should you try the ICICI Direct 3-in-1 account?
- Investing in international stocks
- Margin funding to buy stocks
- 0 brokerage
- Instant cash in 30 minutes
- Research to aid your stock purchase
- 100% cashback as free brokerage
- Account opening process
- Brokerage plans
- Prime plan
- Neo plan
- Unique features to assist you with trading
ICICI Direct is a popular trading platform included in India’s ICICI Bank structure. One of its advantages is a 3-in-1 account that can be opened online without much difficulty. We shall review the features and benefits of this type of account below.
Why should you try the ICICI Direct 3-in-1 account?
3-in-1 account combines three accounts allowing clients a seamless trading experience. They include a Demat account that stores your securities in an electronic form, a Trading one, and a Bank account that keeps your funds. Linking them allows funds to be debited from your bank and shares to be credited to your Demat account when you purchase shares and securities through your trading one.
Online opening an ICICI Direct 3-in-1 account has various benefits, just like internet banking.
Investing in international stocks
It assists traders in expanding their portfolios. Besides, you can access more comprehensive and well-researched global reports that help you to build great investment ideas.
Margin funding to buy stocks
Once you buy securities, you can hold them for up to a year before selling or purchasing. This allows you to get around two times the exposure of funds available in your account with the margin trading facility (MTF). Hence, you can avail of the facility at attractive nominal interest rates of up to 7.9%.
The platform allows you to trade in futures for ₹0. Options, intraday, and derivatives trading are also very affordable to every trader (only ₹20).
Instant cash in 30 minutes
Once you sell your stocks, you do not need to wait for up to two or three days to get your funds. Only get it within thirty minutes.
Research to aid your stock purchase
The online platform is also known to guide its clients in making the right trading decisions through its research team, which has received several awards. ICICI Direct analyzed the stocks of more than 200 companies in various sectors.
100% cashback as free brokerage
ICICI Direct offers free opening of trading and Demat accounts to all clients vs. IIFL Securities, which charges a fee of ₹295 while creating a Demat account.
Are you already asking how to create the 3-in-1 account? This can be done online or by visiting the ICICI Direct branch. You may not need more than 10 minutes.
Account opening process
These are the steps you need to follow if you apply online:
- Open the website https://www.icicidirect.com/ or the app and tap on “Open Demat Account”.
- Provide your phone number, and enter the OTP sent to you.
- Provide your PAN details, date of birth, and a valid email address.
- Enter your bank details, including the account number and IFSC code.
- Submit your KYC details.
- Write your signature on blank paper, take a photo, then upload it in any of these formats (jpeg, png, or jpg), and submit.
- Сlick next to open a new ICICI Demat account.
- Provide information about your professional qualifications and your income. Select if you want or do not want to participate in brokerage plans.
- Fill in the FATCA details, and you will receive a link on your phone via SMS requiring you to complete some in-person verification, such as providing your photo.
- You will also receive an SMS requiring you to complete the E-sign process and verify your email with OTP. You will also need to verify your Aadhaar for NSDL with OTP verification.
- Select ID as a mobile number (you may also use your email address), then click next to view the page with T&Cs acceptance. Kindly tick on the box and click on “I accept & Esign”.
It remains only to wait for the verification of information. It takes an average of 2 business days to update your account status.
ICICI has several different brokerage plans for its customers to take advantage of, depending on their investment goals.
This plan is only valid for one year and requires payment of ₹299. It comes with several benefits:
- More than 50% Brokerage reduction across all products.
- Access to exclusive and unique research on the platform.
- Once you finish trading your shares online, you receive your funds instantly.
- Opportunity to buy stocks and pay later at just 7.9% p.a.
Neo plan offers zero brokerage for futures trades and ₹20 for equity intraday, Options, commodities, and currency. It allows you to:
- Get your funds within 5 minutes after selling shares.
- Access margin funding at 0.025% per day.
- Explore award-winning research.
Note! You can get even more benefits by combining these two plans.
Unique features to assist you with trading
The best thing about the ICICI Direct platform is that it offers many advanced tools to assist its clients in trading. To get optimal prices for online stock trading, use Multi Price, Price Improvement, and Valid Till Cancelled orders. As a result:
- You will catch a near-bottom price in a falling market and save on your purchase.
- You will sell your shares on time at a higher price.
- Your order will be executed only when the price reaches the desired level.
Cloud order can helps clients save time when placing orders. Its key benefits:
- It is possible to save orders even during non-working market hours.
- You can place saved orders later with one click.
- Ability to place multiple orders with different instructions for one stock.
One-Click Equity is a seamless product that allows you to:
- Invest, monitor, and exit the portfolio with one click.
- Compare the performance of your portfolio against benchmarks on a real-time basis.
- Share your favorite portfolios on the ICICI Direct mobile app.
- Diversify by making investments in baskets of ETFs and stocks handpicked by research.
You now have up-to-date information on the benefits and opening of a 3-in-1 account with the online trading platform ICICI Direct. Take advantage of its advanced features and earn extra income by investing during your free time. You only need to be cautious as you trade since you may lose some or all of your investments.