Groww vs ICICI Direct
How Groww and ICICI Direct compare on brokerage, demat AMC and DP charges — verified as of Jun 2026.
By NexMaxo Editorial Team · Charges verified Jun 2026
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Quick take
Groww charges ₹20 or 0.1%, lower (min ₹5) and ICICI Direct charges 0.29% (no cap) on delivery — so intraday/F&O fees, the DP charge and AMC decide it.
Groww — beginners and casual investors who want a simple, clean app with zero amc and free direct mutual funds.
ICICI Direct — existing icici bank customers who value a seamless 3-in-1 account and full-service research, and don't mind high percentage brokerage on the default plan.
Charges side by side
| GrowwOpen | ICICI DirectOpen | |
|---|---|---|
| Equity delivery | ₹20 or 0.1%, lower (min ₹5) | 0.29% (no cap) |
| Intraday | ₹20 or 0.1%, lower (min ₹5) | 0.029%/side (no cap) |
| DP sell / scrip | ₹23.6 | ₹23.6 |
| Account opening | ₹0 | ₹0 |
| Demat AMC | ₹0 lifetime (no AMC) | ₹700/yr standard (₹300/yr on opt-in iValue/Neo plans) |
| Type | Discount | Full-service |
Standard published equity plans, verified Jun 2026. Statutory STT, exchange, SEBI, stamp duty & GST are identical across brokers.
Groww
- Zero account-opening fee and ₹0 lifetime demat AMC with no conditions
- Free direct mutual funds plus stocks, F&O, IPO and MTF in one clean, beginner-friendly app
- India's largest broker by active clients (~1.25 crore NSE-active), with TradingView charts and a Groww Lite backup portal
- Equity delivery is NOT free — ₹20 or 0.1% (min ₹5), unlike Zerodha/Dhan which offer zero delivery brokerage
- No call-and-trade facility — no phone order placement if the app/web is down
ICICI Direct
- Seamless 3-in-1 account integrating ICICI Bank savings, demat and trading for instant fund transfers
- Full-service: extensive in-house research, advisory, IPOs, mutual funds, bonds, NCDs across segments
- Free account opening and the backing/scale of one of India's largest, most established brokers
- Default MoneySaver plan is expensive: 0.29% delivery and 0.029%/side intraday vs discount brokers' flat ₹20 / free delivery
- Percentage brokerage with no cap means large-value delivery orders incur very high charges
Groww vs ICICI Direct — FAQs
Groww charges ₹20 or 0.1%, lower (min ₹5) and ICICI Direct charges 0.29% (no cap) on delivery — so intraday/F&O fees, the DP charge and AMC decide it. On intraday, Groww charges ₹20 or 0.1%, lower (min ₹5) and ICICI Direct 0.029%/side (no cap). The DP sell charge is ₹23.6 (Groww) vs ₹23.6 (ICICI Direct). Statutory charges are identical across brokers.
Groww is a discount broker — beginners and casual investors who want a simple, clean app with zero amc and free direct mutual funds. ICICI Direct is a full-service broker — existing icici bank customers who value a seamless 3-in-1 account and full-service research, and don't mind high percentage brokerage on the default plan.
Either works to start. Look at the demat AMC (Groww: ₹0 lifetime (no AMC); ICICI Direct: ₹700/yr standard (₹300/yr on opt-in iValue/Neo plans)), whether delivery is free, and which app you find simpler. Both hold your shares safely with CDSL/NSDL. This is information, not advice.
This is an informational comparison of published charges, not investment advice. Brokers change pricing and run promotions — confirm current rates on each broker's official charges page before opening. Investing carries market risk.