Zerodha vs ICICI Direct: You’ll Regret Choosing Wrong in 2025!

Zerodha vs ICICI Direct

Still stuck between Zerodha vs ICICI Direct? You’re not the only one. Picking the right stockbroker can feel overwhelming, especially when both seem strong in their own way. 

Zerodha vs ICICI Direct

One gives you low-cost, tech-savvy tools, while the other offers premium services and old-school reliability. But don’t worry—this guide breaks it all down so you don’t have to dig through endless numbers. 

You’re here to make a smart choice, and by the end of this comparison, you’ll know exactly where you stand!

Profile Comparison

When you look at Zerodha vs ICICI Direct from a profile perspective, it’s a battle between modern disruption and traditional strength. Here’s how-

ParticularsZerodhaICICI Direct
IndustryFinancial ServicesFinancial Services
FoundersNithin Kamath; Nikhil KamathAnup Bagchi (ICICI Securities, part of ICICI Bank Group)
Founded inAugust 20101995 (ICICI Securities)
HeadquartersBengaluru (Karnataka, India)Mumbai (Maharashtra, India)
Number of Branches75+ Branches and Partner Offices175+ Branches (PAN India)
ServicesEquity Trading; Derivatives Trading; Currency Trading; Commodity Trading; Mutual FundsEquity Trading; Derivatives; Currency Trading; Commodity Trading; Mutual Funds; IPO; Bonds; FDs; Insurance; Wealth Mgmt
ProductsKite; Coin; Console; VarsityICICI Direct App; Trade Racer; One Click Equity; Flash Trade; One Click MF; Breeze API; eATM; Payoff Analyzer
Exchanges Supported5 Exchanges- 
NSE (National Stock Exchange); 
BSE (Bombay Stock Exchange); 
MCX (Multi Commodity Exchange); 
NCDEX (National Commodity and Derivative Exchange); 
CDSL (Central Depository Services Limited)
6 Exchanges-
NSE (National Stock Exchange), 
BSE (Bombay Stock Exchange), 
MCX (Multi Commodity Exchange), 
NCDEX (National Commodity and Derivative Exchange), 
NSDL (National Securities Depository Limited), 
CDSL (Central Depository Services Limited)
Desktop & Mobile Trading PlatformKiteICICI Direct App (Mobile); Trade Racer (Desktop); Web Platform
Official Websitehttps://zerodha.com/https://www.icicidirect.com/
CompetitorsGroww, Upstox, Angel One, ICICI Direct, etc.Zerodha, Groww, Upstox, Angel One, HDFC Securities, Kotak Securities, etc

Zerodha, with its sleek online-first approach, has completely changed how young traders invest. 

ICICI Direct, on the other hand, brings decades of experience and the backing of a major bank.

If you’re looking for a platform that feels fresh, digital, and designed for the self-driven trader—you might lean toward Zerodha. But if you’re more comfortable with in-person help, physical branches, and a wider financial ecosystem, ICICI Direct could be your go-to.

Charges Comparison: Zerodha vs ICICI Direct

Let’s talk money, because in the Zerodha vs ICICI Direct debate, brokerage charges matter a lot. Zerodha keeps it simple and pocket-friendly. Whether you’re trading equities or commodities, the charges stay low and predictable.

The following tables will help you understand the key differences and similarities between the charges of Zerodha and ICICI Direct-

Account Charges

SegmentsZerodhaICICI Direct
(Neo Plan)
Discount Plan
ICICI Direct
(I-Secure Plan)
Classic Plan
Account OpeningFree (Online), ₹500 (Offline/NRI/Corporate)₹0 (Online)₹0 (Online)
Annual Maintenance Charges (AMC)₹300/year + GST
(non-BSDA);
Free for BSDA
(< ₹4L holding)
₹300–₹700/year
(plan dependent)
₹700/year

Note: We have also compared the following brokers-

Equity Charges

CategoriesZerodhaICICI Direct
(Neo Plan)
Discount Plan
ICICI Direct
(I-Secure Plan)
Classic Plan
Equity Delivery₹0₹0 (Free)0.55% per trade
Equity Intraday0.03% or ₹20/order (lower)₹20 per order0.275% per trade
Equity Futures0.03% or ₹20/order (lower)₹20 per order₹50 per order
Equity Options₹20/order₹20 per order₹50 per order

Currency Charges

CategoriesZerodhaICICI Direct
(Neo Plan)
Discount Plan
ICICI Direct
(I-Secure Plan)
Classic Plan
Currency Futures0.03% or ₹20/order (lower)₹20 per order₹20 per order
Currency Options₹20/order₹20 per order₹20 per order

Commodity Charges

CategoriesZerodhaICICI Direct
(Neo Plan)
Discount Plan
ICICI Direct
(I-Secure Plan)
Classic Plan
Commodity Futures0.03% or ₹20/order (lower)₹20 per order₹50 per order
Commodity Options₹20/order₹20 per order₹50 per order

Other Segments 

CategoriesZerodhaICICI Direct
(Neo Plan)
Discount Plan
ICICI Direct
(I-Secure Plan)
Classic Plan
Mutual Funds₹0 (Direct only)₹0 (Direct mutual funds, no commission or DP charges)₹0 (Direct only)
DP Charges (Sell)₹15.34 per scrip per day₹20 per ISIN per day₹20 per ISIN per day
Pledge Charges₹30 + GST per ISIN₹25 + GST per ISIN₹25 + GST per ISIN
Payment Gateway₹9 + GST (not for UPI)NilNil
Margin Funding Rate0.04% per day
(approx 14.6% p.a.)
0.049% per day
(approx 18% p.a.)
0.055% per day
(approx 20% p.a.)
Minimum Brokerage₹0.01 per contract note₹0.01 per contract note₹0.01 per contract note
Physical Contract Note₹20 + courier₹25 + courier₹25 + courier
Off-market Transfer₹25 per transaction₹25 per transaction₹25 per transaction
Delayed Payment Charges18% p.a. (0.05% per day)18% p.a. (0.05% per day)18% p.a. (0.05% per day)

ICICI Direct does offer a discount plan (Neo), but the classic plans are more expensive. The extra fees make sense only if you’re making use of the additional services and personal support they offer. 

If you’re someone who prefers saving on every trade, Zerodha gives you more freedom without the financial burden!

Features Comparison of Zerodha vs ICICI Direct

When comparing Zerodha vs ICICI Direct, the real question is:- do you want to do it all yourself, or do you prefer a little help along the way?

Go through the following table, and you’ll find out!

FeaturesZerodhaICICI Direct
Broker TypeDiscount BrokerFull-Service Broker
Account Type2-in-1 (Trading + Demat)3-in-1 (Bank + Trading + Demat)
Research & AdvisoryNot ProvidedFree research reports, recommendations, and advisory services
Personal Relationship ManagerNoYes
Branch NetworkNo Branches100s of branches across India
Margin FundingNot AvailableAbailable
GTC (Good Till Cancelled)/GTT (Good Till Triggered)GTTGTC
NRI AccountAvailableAvailble
Suitable ForSelf-directed investors/traders, cost-conscious usersInvestors seeking advisory, beginners, those preferring full-service
Offline SupportNoYes
Minimum Brokerage₹0.01 per contract note₹35 per trade (classic)

Now this is where things start to reflect your personal style!

Zerodha gives you clean, efficient platforms like Kite and Coin. It’s all about independence and ease. If you enjoy taking full control of your trades, you’ll feel right at home here.

But ICICI Direct brings in the extras—research, reports, advisory, a relationship manager, and a full 3-in-1 account. If you’re someone who values support and wants access to other financial services under one roof, this could be a deal-maker.

Business Comparison: Zerodha vs ICICI Direct

Understanding the business side of Zerodha vs ICICI Direct can give you confidence in your decision-

Business Parameters (FY25)ZerodhaICICI Direct
Market ValuationEstimated ~$3.6–$4 bn (as per recent private estimates; not officially disclosed)Market Cap is ₹29,132 crore ($342 million) as per recent share price
User Base~7.8 million active clients (March 31, 2025)~9.6 million operational accounts (March 31, 2025)
Revenue EarnedNot officially disclosed for FY25; FY24 revenue was ₹6,875 crore (FY25 likely similar or slightly lower due to industry slowdown)₹3,800 crore (Consolidated revenue for FY25; Q1FY25 revenue: ₹1,644 crore)
ExpensesNot officially disclosed for FY25; FY24 expenses were approximately ₹2,200 crore (FY25 likely similar)Not fully disclosed for FY25; FY24 total expenses were ₹2,200 crore (estimate based on previous annual reports)
Profit/LossEstimated profit for FY25: ₹3,500–₹4,000 crore (based on margins and prior years)FY25 Profit After Tax: ₹1,700–₹1,800 crore (Q1FY25 PAT: ₹527 crore; annualized)

Zerodha, though private, runs a tight, profitable ship. It’s lean, fast, and knows exactly how to keep traders happy and engaged.

ICICI Direct, being public, plays the long game. With millions of users and strong earnings, it offers a sense of security and structure. Its connection to ICICI Bank makes it a one-stop shop for your financial life.

Both are solid players—but your choice depends on whether you want a fast-moving disruptor or a time-tested financial powerhouse!

Final Thoughts on Zerodha vs ICICI Direct

So, who wins in the Zerodha vs ICICI Direct showdown? Well, that depends on you.

Zerodha is your go-to if you’re all about low costs, powerful tools, and full control over your investments. But if you’d rather have expert guidance, a wide network, and premium services, ICICI Direct will feel like a better fit.

There’s no one-size-fits-all answer here, but by now, you probably know which one aligns with your style. Just remember this mantra:- the best broker is the one that helps you grow, save, and succeed!

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Published By: Supti Nandi
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