Groww and ICICIdirect are two of India’s most popular stockbrokers, offering diverse investment services but catering to different audiences. Groww focuses on low-cost, app-based investing for tech-savvy and first-time investors, while ICICIdirect provides a full-service experience with research, advisory, and 3-in-1 banking integration.
With Groww holding a 26.19% market share and ICICIdirect at 4.15%, both platforms reflect the contrasting faces of India’s investing ecosystem — one driven by simplicity and digital innovation, the other by trust and comprehensive financial solutions. This comparison breaks down their fees, products, platforms, and services to help you decide which broker suits your investment style best. We take a deeper look at Groww Vs ICICIdirect in this article.
Table of Contents
Groww Vs ICICIdirect – Company Background and Core Philosophy
Groww is India’s largest stockbroker by client base and market share. Founded by four former Flipkart employees — Lalit Keshre, Harsh Jain, Neeraj Singh, and Ishan Bansal — the company was established with a mission to simplify investing and make it accessible to everyone.
ICICIdirect is a subsidiary of ICICI Securities, founded in 1994, known for its full-service offerings, extensive research, and physical branch presence. It caters to investors who prefer in-depth guidance, personalized support, and a wide range of financial products.
Product Range and Investment Options
Groww: Groww is a full-service retail stockbroker across mutual funds, stocks, US Stocks, ETFs, IPOs, and F&Os, to invest their money without hassles..
ICICIdirect: Offers equities, derivatives, mutual funds, IPOs, bonds, PMS, insurance, and government securities. Best suited for investors who want a single-window, diversified portfolio with advisory support.
Groww Vs ICICIdirect Charges
- Groww Vs ICICIdirect Account Opening Charges & AMC
| Account Opening and Demat Charges | Groww | ICICIdirect |
| Equity Trading Account Opening Charges | Zero | Zero |
| Trading Account AMC Charges | Zero | Zero |
| Demat Account Opening Charges | Zero | Zero |
| Demat Account AMC Charges | Zero | INR 300 Per Year (Free for the First Year) |
- Groww Vs ICICIdirect Brokerage Charges Plan 1
| Particulars | Groww | ICICIdirect Moneysaver Plan |
| Equity Delivery | INR 20 per order or 0.1% whichever is lower, Minimum INR 5 | 0.29% |
| Equity Intraday | INR 20 per order or 0.1% whichever is lower, Minimum INR 5 | 0.029% |
| Equity Futures | INR 20 per executed order | 0.029% |
| Equity Options | INR 20 per executed order | INR 49 per lot |
| Currency Futures | N/A | INR 20 per order |
| Currency Options | N/A | INR 20 per order |
| Commodity Futures | N/A | INR 20 per order |
| Commodity Options | N/A | INR 20 per order |
| Call & Trade Charge | N/A | INR 50 per executed order |
| Minimum Brokerage | INR 20 or 0.1% in Equity Intraday, Delivery | No Minimum brokerage (Moneysaver Plan) |
| P&L/CMR Charges | INR 20 + INR 100 (courier charge) + 18% GST for subsequent requests | INR 99 + GST |
- Groww Vs ICICIdirect Brokerage Charges Plan 2
| Particulars | Groww | ICICIdirect Prime Plan – 299 |
| Equity Delivery | INR 20 per order or 0.1% whichever is lower, Minimum INR 5 | 0.25% |
| Equity Intraday | INR 20 per order or 0.1% whichever is lower, Minimum INR 5 | 0.025% |
| Equity Futures | INR 20 per executed order | 0.025% |
| Equity Options | INR 20 per executed order | INR 49 per lot |
| Currency Futures | N/A | INR 20 per order |
| Currency Options | N/A | INR 20 per order |
| Commodity Futures | N/A | INR 20 per lot |
| Commodity Options | N/A | INR 20 per lot |
- Groww Vs ICICIdirect Brokerage Charges Plan 3
| Particulars | Groww | ICICIdirect Prime Plan – 9999 |
| Equity Delivery | INR 20 per order or 0.1% whichever is lower, Minimum INR 5 | 0.07% |
| Equity Intraday | INR 20 per order or 0.1% whichever is lower, Minimum INR 5 | 0.007% |
| Equity Futures | INR 20 per executed order | 0.007% |
| Equity Options | INR 20 per executed order | INR 9 per lot |
| Currency Futures | N/A | INR 20 per order |
| Currency Options | N/A | INR 20 per order |
| Commodity Futures | N/A | INR 20 per lot |
| Commodity Options | N/A | INR 20 per lot |
Read Also: Zerodha AMC Charges: A Comprehensive Breakdown
- ICICIdirect Vs Groww Other Statutory Charges
| Statutory Charges | ICICIdirect | Groww |
| STT/CTT Equity Delivery | 0.1% (Both Buy & Sell) | 0.1% (Both Buy and Sell) |
| STT/CTT Equity Intraday | 0.025% on the sell side | 0.025% on the Sell Side |
| STT/CTT Equity Futures | 0.02% on the buy side | 0.02% on Sell Side |
| STT/CTT Equity Options | 0.01% on the sell side (on premium), 0.125% of the intrinsic value on bought and exercised options | 0.1% on Sell Side (on Premium) |
| STT/CTT Currency Futures & Options | N/A | N/A |
| STT/CTT Commodity Futures | MCX: 0.01% on Sell side | MCX: 0.01% on sell side |
| STT/CTT Commodity Options | 0.05% on Sell trade | 0.05% on sell side |
| SEBI Turnover Charges | INR 10/crore | INR 10/crore |
| GST | 18% | 18% |
| Stamp Equity Delivery | 0.015% or INR 1500/crore on buy-side | 0.015% or INR 1500/crore on buy-side |
| Stamp Equity Intraday | 0.003% or INR 300/crore on buy-side | 0.003% or INR 300/crore on buy-side |
| Stamp Equity Futures | 0.002% or INR 200/crore on buy-side | 0.002% or INR 200/crore on buy-side |
| Stamp Equity Options | 0.003% or INR 300/crore on buy-side | 0.003% or INR 300/crore on buy-side |
| Stamp Currency Futures | N/A | N/A |
| Stamp Currency Options | N/A | N/A |
| Stamp Commodity Futures | 0.002% or INR 200/crore on buy-side | 0.002% or INR 200/crore on buy-side |
| Stamp Commodity Options | 0.003% or INR 300/crore on buy-side | 0.003% or INR 300/crore on buy-side |
| DP (Depository participant) Charges | INR 20 per scrip | INR 20 per company only on Sell |
| Pledging Charges | INR 29 per scrip (Shares as Margin) | INR 20 per ISIN, for Pledge/Unpledge Order |
| Auto Square off Charges | INR 50 per executed order | INR 50 per squared-off position |
| API Subscription Charges | Zero | INR 499 per month for access to all trading |
Also Read: Top Stock Brokers in India 2024
Groww Vs ICICIdirect: Exposure/Leverage (Margin)
Both brokers provide identical leverage policies, capped at SEBI-regulated limits.
| Segment | Groww | ICICIdirect |
| Equity Delivery | 100% of trade value (1x leverage) | 100% of trade value (1x leverage) |
| Equity Intraday | Upto 20% of trade value (5x leverage) | Upto 20% of trade value (5x leverage) |
| F&O (Equity, Currency & Commodity) | 100% of NRML margin (Span + Exposure) (1x leverage) | 100% of NRML margin (Span + Exposure) (1x leverage) |
Features of ICICIdirect Vs Groww Platforms
| Feature | ICICIdirect | Groww |
| 3 in 1 Account | Yes | No |
| Algo Trading | Yes | Yes |
| Charting | Yes | Yes |
| Trading Platform | ICICI Direct.com (website), ICICI Direct Mobile App | Groww web, Groww Mobile for Android |
| SMS Alerts | Yes | Yes |
| Online Demo | Yes | Yes |
| Online Portfolio | Yes | Yes |
| Margin Trading Funding Available | Yes | Yes |
| Margin Against Shares (Equity Cash) | Yes | Yes |
| Margin Against Shares (Equity F&O) | Yes | Yes |
| Intraday Square-off Time | 15:15 | 15:20 |
| NRI Trading | Yes | Yes |
| Referral Program | Yes | Yes |
Also Read: Fyers Brokerage Calculator
ICICIdirect Vs Groww – Pros and Cons
| ICICIdirect | Groww | |
| Pros | 1. Offers a 3-in-1 account for seamless, instant transfers between bank and trading accounts 2. A single platform offering diverse investment opportunities 3. Offers watchlist curation and a 4.8-rated mobile app (App Store) 4. The Good Till Cancellation (GTC) and off-market hours order placement features are highly valuable 5. 200+ physical branches for offline assistance | 1. India’s No. 1 broker by number of active clients 2. Zero account opening fee 3. Zero maintenance charges (No Demat AMC) 4. Flat INR 20 per trade brokerage 5. Instant paperless account opening 6. Direct Mutual Fund platform with potential 1.5% extra returns 7. Free Mutual Fund investments with no hidden fees 8. Option to invest in digital gold |
| Cons | 1. Higher brokerage fees, especially costly for small trades 2. Currency trading is not offered 3. Limited commodity trading options 4. A complex brokerage structure is difficult for beginners 5. Demat AMC applies after first year | 1. Limited investment products compared to full-service brokers 2. No Call and Trade facility 3. No stock tips, research reports, or investment recommendations 4. SME shares and SME IPOs are not supported 5. No physical branch or offline support (entirely online) 6. Advanced order types like BO, CO, and AMO are not available 7. Trailing Stop Loss orders are not supported |
Groww Vs ICICIdirect FAQs
Which is better, ICICIdirect Vs Groww?
Groww is better for cost-conscious, tech-savvy traders, while ICICIdirect suits investors who prefer full-service support, research, and seamless banking integration.
Which broker has lower brokerage charges?
Groww generally charges lower brokerage fees (flat INR 20 per order or lower) compared to ICICIdirect, which has higher percentage-based charges (e.g. 0.29% for delivery and INR 49 per lot for options).
What is the ICICIdirect AMC charge?
ICICIdirect AMC charges stand at INR 300 Per Year (Free for the First Year) + GST (18%).
What is the ICICIdirect market share?
ICICIdirect has a market share of 4.15%
What is the Groww market share?
Zeodha has a market share of 26.19%