ICICIdirect and Zerodha are two of the most prominent stock brokers in India, each catering to very different investor needs. While ICICIdirect is a full-service broker with a legacy reputation, comprehensive research, and seamless banking integration, Zerodha has revolutionized the broking industry with its discount model, transparent pricing, and technology-driven platforms.
In 2025, the choice between ICICIdirect and Zerodha depends on whether you prefer full-service advisory and diversified products or a low-cost, self-directed trading experience. Zerodha’s market share is 15.76%, and ICICIdirect has 4.15% market share. We take a deeper look at ICICIdirect vs Zerodha in this article.
Table of Contents
ICICIdirect Vs Zerodha – Company Background and Core Philosophy
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.
Zerodha was founded in 2010 by Nithin and Nikhil Kamath in Bangalore. The company offers a trading platform for equity, currency, and commodities categories on the NSE, BSE, and MCX exchanges.
Product Range and Investment Options
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.
Zerodha: Focuses on equities, derivatives, commodities, currencies, and mutual funds (through its Coin app). No advisory or tips—designed for self-directed, cost-sensitive investors.
ICICIdirect Vs Zerodha Charges
- ICICIdirect Vs Zerodha Account Opening Charges & AMC
| Account Opening and Demat Charges | ICICIdirect | Zerodha |
| Equity Trading Account Opening Charges | Zero | Zero |
| Trading Account AMC Charges | Zero | Zero |
| Demat Account Opening Charges | Zero | Zero |
| Demat Account AMC Charges | INR 300 Per Year (Free for the First Year) | Up to INR 4 Lakh – Zero, INR 4 lakh to 10 Lakh – INR 100 Per Year, Above INR 10 lakh – INR 300 Per Year |
- ICICIdirect Vs Zerodha Brokerage Charges Plan 1
| Particulars | ICICIdirect Moneysaver Plan | Zerodha |
| Equity Delivery | 0.29% | Zero |
| Equity Intraday | 0.029% | INR 20 per order or 0.03%, whichever is lower |
| Equity Futures | 0.029% | INR 20 per order or 0.03%, whichever is lower |
| Equity Options | INR 49 per lot | Flat INR 20 per executed order |
| Currency Futures | INR 20 per order | INR 20 per order or 0.03%, whichever is lower |
| Currency Options | INR 20 per order | INR 20 per executed order |
| Commodity Futures | INR 20 per order | INR 20 per order or 0.03%, whichever is lower |
| Commodity Options | INR 20 per order | INR 20 per executed order |
| Call & Trade Charge | INR 50 per executed order | INR 50 per executed order |
| Minimum Brokerage | No Minimum brokerage (Moneysaver Plan) | INR 20 or 0.03% in Intraday and F&O trades |
| P&L/CMR Charges | INR 99 + GST | First CMR request is free, INR 20 + INR 100 (courier charge) + 18% GST for subsequent requests |
- ICICIdirect Vs Zerodha Brokerage Charges Plan 2
| Particulars | ICICIdirect Prime Plan – 299 | Zerodha |
| Equity Delivery | 0.25% | Zero |
| Equity Intraday | 0.025% | INR 20 per order or 0.03%, whichever is lower |
| Equity Futures | 0.025% | INR 20 per order or 0.03%, whichever is lower |
| Equity Options | INR 49 per lot | Flat INR 20 per executed order |
| Currency Futures | INR 20 per order | INR 20 per order or 0.03%, whichever is lower |
| Currency Options | INR 20 per order | INR 20 per executed order |
| Commodity Futures | INR 20 per lot | INR 20 per order or 0.03%, whichever is lower |
| Commodity Options | INR 20 per lot | INR 20 per executed order |
- ICICIdirect Vs Zerodha Brokerage Charges Plan 3
| Particulars | ICICIdirect Prime Plan – 9999 | Zerodha |
| Equity Delivery | 0.07% | Zero |
| Equity Intraday | 0.007% | INR 20 per order or 0.03%, whichever is lower |
| Equity Futures | 0.007% | INR 20 per order or 0.03%, whichever is lower |
| Equity Options | INR 9 per lot | Flat INR 20 per executed order |
| Currency Futures | INR 20 per order | INR 20 per order or 0.03%, whichever is lower |
| Currency Options | INR 20 per order | INR 20 per executed order |
| Commodity Futures | INR 20 per lot | INR 20 per order or 0.03%, whichever is lower |
| Commodity Options | INR 20 per lot | INR 20 per executed order |
Read Also: Zerodha AMC Charges: A Comprehensive Breakdown
- Zerodha vs ICICIdirect Other Statutory Charges
| Statutory Charges | ICICIdirect | Zerodha |
| STT/CTT Equity Delivery | 0.1% (Both Buy & Sell) | 0.1% (Both Buy & 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 | 0.0125% on the 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 the sell side (on premium) |
| STT/CTT Currency Futures & Options | No STT | No STT |
| STT/CTT Commodity Futures | MCX: 0.01% on Sell side | MCX: 0.01% on the 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 | Nil | 0.0001% or INR 10/crore on buy-side |
| Stamp Currency Options | Nil | 0.0001% or INR 10/crore on buy-side |
| 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 15.34 per scrip |
| Pledging Charges | INR 29 per scrip (Shares as Margin) | INR 30 per scrip |
| Auto Square off Charges | INR 50 per executed order | INR 50 per executed order |
| API Subscription Charges | Zero | INR 500 per app each month |
Also Read: Top Stock Brokers in India 2024
ICICIdirect Vs Zerodha: Exposure/Leverage (Margin)
Both brokers provide identical leverage policies, capped at SEBI-regulated limits.
| Segment | ICICIdirect | Zerodha |
| 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 Zerodha Platforms
| Feature | ICICIdirect | Zerodha |
| 3 in 1 Account | Yes | Yes |
| Algo Trading | Yes | Yes |
| Charting | Yes | Yes |
| Trading Platform | ICICI Direct.com (website), ICICI Direct Mobile App | Kite Web, Kite Mobile for Android and iOS, and Coin |
| SMS Alerts | Yes | No |
| 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 for equity, 15:25 for derivatives |
| NRI Trading | Yes | Yes |
| Referral Program | Yes | Yes |
Also Read: Fyers Brokerage Calculator
ICICIdirect Vs Zerodha – Pros and Cons
| ICICIdirect | Zerodha | |
| 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. Lowest flat brokerage (INR 20/order or 0.03%) 2. Free equity delivery trades 3. Free mutual fund investments via Coin 4. Advanced trading platform (Kite, Console, Coin) 5. Strong customer base and reputation |
| 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. No advisory or research support 2. Call & Trade charged INR 50 per executed order 3. Limited offline presence 4. Monthly unlimited trading plans are not available 5. Console is a separate back-office platform with overnight data updates |
ICICIdirect Vs Zerodha FAQs
Which is better, ICICIdirect Vs Zerodha?
Zerodha is better for cost-conscious, tech-savvy traders with flat low fees, while ICICIdirect suits investors seeking full-service support, research, and banking integration.
Which broker has lower brokerage charges?
Zerodha has lower brokerage charges with flat INR 20/order (or 0.03%), while ICICIdirect is costlier, charging 0.29% on delivery and INR 49 per options lot.
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 Zerodha market share?
Zeodha has a market share of 15.76%