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.

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-
| Particulars | Zerodha | ICICI Direct |
| Industry | Financial Services | Financial Services |
| Founders | Nithin Kamath; Nikhil Kamath | Anup Bagchi (ICICI Securities, part of ICICI Bank Group) |
| Founded in | August 2010 | 1995 (ICICI Securities) |
| Headquarters | Bengaluru (Karnataka, India) | Mumbai (Maharashtra, India) |
| Number of Branches | 75+ Branches and Partner Offices | 175+ Branches (PAN India) |
| Services | Equity Trading; Derivatives Trading; Currency Trading; Commodity Trading; Mutual Funds | Equity Trading; Derivatives; Currency Trading; Commodity Trading; Mutual Funds; IPO; Bonds; FDs; Insurance; Wealth Mgmt |
| Products | Kite; Coin; Console; Varsity | ICICI Direct App; Trade Racer; One Click Equity; Flash Trade; One Click MF; Breeze API; eATM; Payoff Analyzer |
| Exchanges Supported | 5 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 Platform | Kite | ICICI Direct App (Mobile); Trade Racer (Desktop); Web Platform |
| Official Website | https://zerodha.com/ | https://www.icicidirect.com/ |
| Competitors | Groww, 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
| Segments | Zerodha | ICICI Direct (Neo Plan) Discount Plan | ICICI Direct (I-Secure Plan) Classic Plan |
| Account Opening | Free (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
| Categories | Zerodha | ICICI Direct (Neo Plan) Discount Plan | ICICI Direct (I-Secure Plan) Classic Plan |
| Equity Delivery | ₹0 | ₹0 (Free) | 0.55% per trade |
| Equity Intraday | 0.03% or ₹20/order (lower) | ₹20 per order | 0.275% per trade |
| Equity Futures | 0.03% or ₹20/order (lower) | ₹20 per order | ₹50 per order |
| Equity Options | ₹20/order | ₹20 per order | ₹50 per order |
Currency Charges
| Categories | Zerodha | ICICI Direct (Neo Plan) Discount Plan | ICICI Direct (I-Secure Plan) Classic Plan |
| Currency Futures | 0.03% or ₹20/order (lower) | ₹20 per order | ₹20 per order |
| Currency Options | ₹20/order | ₹20 per order | ₹20 per order |
Commodity Charges
| Categories | Zerodha | ICICI Direct (Neo Plan) Discount Plan | ICICI Direct (I-Secure Plan) Classic Plan |
| Commodity Futures | 0.03% or ₹20/order (lower) | ₹20 per order | ₹50 per order |
| Commodity Options | ₹20/order | ₹20 per order | ₹50 per order |
Other Segments
| Categories | Zerodha | ICICI 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) | Nil | Nil |
| Margin Funding Rate | 0.04% 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 Charges | 18% 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!
| Features | Zerodha | ICICI Direct |
| Broker Type | Discount Broker | Full-Service Broker |
| Account Type | 2-in-1 (Trading + Demat) | 3-in-1 (Bank + Trading + Demat) |
| Research & Advisory | Not Provided | Free research reports, recommendations, and advisory services |
| Personal Relationship Manager | No | Yes |
| Branch Network | No Branches | 100s of branches across India |
| Margin Funding | Not Available | Abailable |
| GTC (Good Till Cancelled)/GTT (Good Till Triggered) | GTT | GTC |
| NRI Account | Available | Availble |
| Suitable For | Self-directed investors/traders, cost-conscious users | Investors seeking advisory, beginners, those preferring full-service |
| Offline Support | No | Yes |
| 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) | Zerodha | ICICI Direct |
| Market Valuation | Estimated ~$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 Earned | Not 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) |
| Expenses | Not 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/Loss | Estimated 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!
