ICICI Direct vs Zerodha
How ICICI Direct and Zerodha 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
Zerodha gives free equity delivery (₹0) while ICICI Direct charges 0.29% (no cap), so Zerodha is cheaper for delivery-based investing.
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.
Zerodha — long-term, diy investors who want free equity delivery, a clean fast app, and low flat-fee intraday/f&o without cross-selling.
Charges side by side
| ICICI DirectOpen | ZerodhaOpen | |
|---|---|---|
| Equity delivery | 0.29% (no cap) | ₹0 brokerage |
| Intraday | 0.029%/side (no cap) | ₹20 or 0.03%, lower |
| DP sell / scrip | ₹23.6 | ₹15.34 |
| Account opening | ₹0 | ₹0 (online individual) |
| Demat AMC | ₹700/yr standard (₹300/yr on opt-in iValue/Neo plans) | ₹0 first year, then ₹300 + GST (₹354)/yr |
| Type | Full-service | Discount |
Standard published equity plans, verified Jun 2026. Statutory STT, exchange, SEBI, stamp duty & GST are identical across brokers.
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
Zerodha
- Zero brokerage on equity delivery + flat ₹20-or-lower intraday/F&O — among the cheapest, fully transparent pricing
- Largest retail broker by active clients, with the well-regarded, stable Kite platform
- First-year demat AMC free and ₹0 online account opening; no pushy in-app cross-selling or relationship managers
- No 3-in-1 account (no in-house bank); funds move via UPI/payment gateway rather than a linked savings account
- Kite Connect API is paid (≈₹500/mo); no built-in research, stock tips or analyst recommendations
ICICI Direct vs Zerodha — FAQs
Zerodha gives free equity delivery (₹0) while ICICI Direct charges 0.29% (no cap), so Zerodha is cheaper for delivery-based investing. On intraday, ICICI Direct charges 0.029%/side (no cap) and Zerodha ₹20 or 0.03%, lower. The DP sell charge is ₹23.6 (ICICI Direct) vs ₹15.34 (Zerodha). Statutory charges are identical across brokers.
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. Zerodha is a discount broker — long-term, diy investors who want free equity delivery, a clean fast app, and low flat-fee intraday/f&o without cross-selling.
Either works to start. Look at the demat AMC (ICICI Direct: ₹700/yr standard (₹300/yr on opt-in iValue/Neo plans); Zerodha: ₹0 first year, then ₹300 + GST (₹354)/yr), 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.