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HomeStock BrokerICICIdirect vs Upstox

ICICIdirect vs Upstox

Side-by-side view of features, pricing context, and platform fit.

ICICIdirect

ICICIdirect

Active Clients: 20,45,086

ICICIdirect is a prominent retail stock broker in India, operating as part of the ICICI Group, and provides online trading and investment services spanning equity, derivatives, IPO, mutual funds, fixed deposits, bonds...

Upstox

Upstox

Active Clients: 20,36,413

Upstox is a technologically advanced low-cost brokerage firm in India, offering trading services in equities, commodities, currency, futures, and options via web and mobile platforms. Upstox has received investment fr...

Side-by-Side Compare Table

CategoryICICIdirectUpstox
Basic Details
  • •Broker Type: Full-service broker (ICICI Group)
  • •Founded: 1995 (ICICIdirect platform legacy)
  • •Broker Type: Discount broker
  • •Founded: Legacy RKSV/Upstox retail broking entity
Charges & AMC
  • •Account Opening: Rs 0 (as listed)
  • •Demat AMC: Rs 700 per annum (individual account)
  • •Account Opening: Rs 0
  • •Demat AMC: Rs 150 per year (first-year concessions may apply in offers)
Brokerage
  • •Brokerage is plan based (Prime plans and MoneySaver).
  • •Prime plan examples range by subscription slab.
  • •Equity Delivery: Rs 20 or 2.5% (whichever is lower)
  • •Equity Intraday: Rs 20 or 0.05% (whichever is lower)
Other Charges
  • •Call and trade charges apply (listed as Rs 50 per order in extract).
  • •Demat debit and operational charges apply per schedule.
  • •Call and Trade: Rs 20 per executed order
  • •Instant money transfer fee and physical statement fees may apply
Leverage (Margin)
  • •Intraday equity margin can go up to around 5x on eligible stocks.
  • •Delivery and carry-forward generally follow full margin norms.
  • •Margin/leverage is segment specific and governed by exchange/risk policies.
  • •Delivery generally follows full margin and intraday can provide lower upfront margins.
Features
  • •Integrated 3-in-1 account (bank + trading + Demat).
  • •Strong brand trust and branch-assisted model.
  • •Digital-first execution with mobile/web stack.
  • •Strong derivatives support and low brokerage positioning.
Trading Platforms
  • •ICICIdirect.com website
  • •ICICIdirect mobile app
  • •Upstox Pro web platform
  • •Upstox mobile app
Reviews & Ratings
  • •Viewed as feature-rich and trusted for integrated banking workflow.
  • •In this source extract, no final single overall numeric rating table is shown.
  • •Commonly viewed as low-cost, trader-friendly platform.
  • •In this extract, no final single consolidated numeric rating table is shown.
Investment Options
  • •Equity and derivatives
  • •IPO, mutual funds, bonds, NCDs
  • •Equity
  • •F&O
Order Types Offered
  • •Standard market/limit execution flows
  • •VTC/GTC-style functionality referenced in source context
  • •Standard market and limit orders
  • •Delivery/intraday/F&O execution flows
Suitable For (Investor Type)
  • •Investors wanting 3-in-1 integration and branch support.
  • •Users preferring broader product coverage over pure discount pricing.
  • •Cost-sensitive active traders.
  • •App-first users who want strong F&O workflow.
Pros and Cons
  • •Pros:
  • •Robust integrated banking-broking setup.
  • •Pros:
  • •Competitive low-cost brokerage model.

Detailed Comparison

Basic Details

ICICIdirectUpstox
  • •Broker Type: Full-service broker (ICICI Group)
  • •Founded: 1995 (ICICIdirect platform legacy)
  • •SEBI Registration: INZ000183631
  • •NSE Member Code: 07730
  • •Net Worth: Rs 4581.84 Cr
  • •Broker Type: Discount broker
  • •Founded: Legacy RKSV/Upstox retail broking entity
  • •SEBI Registration: INZ000315837
  • •NSE Member Code: 13942
  • •Net Worth: Rs 839.83 Cr

Charges & AMC

ICICIdirectUpstox
  • •Account Opening: Rs 0 (as listed)
  • •Demat AMC: Rs 700 per annum (individual account)
  • •Demat debit charge and call-and-trade charges apply
  • •Account Opening: Rs 0
  • •Demat AMC: Rs 150 per year (first-year concessions may apply in offers)
  • •App/web platform model with low-cost pricing

Brokerage

ICICIdirectUpstox
  • •Brokerage is plan based (Prime plans and MoneySaver).
  • •Prime plan examples range by subscription slab.
  • •MoneySaver example: Delivery 0.29%, Intraday/Futures 0.029%, Options Rs 49 per lot.
  • •Equity Delivery: Rs 20 or 2.5% (whichever is lower)
  • •Equity Intraday: Rs 20 or 0.05% (whichever is lower)
  • •Equity Futures: Rs 20 or 0.05% (whichever is lower)
  • •Equity Options: Flat Rs 20 per order
  • •Currency/Commodity: Similar low-cost flat-fee pattern as per segment tables

Other Charges

ICICIdirectUpstox
  • •Call and trade charges apply (listed as Rs 50 per order in extract).
  • •Demat debit and operational charges apply per schedule.
  • •Standard statutory charges apply separately.
  • •Call and Trade: Rs 20 per executed order
  • •Instant money transfer fee and physical statement fees may apply
  • •DP sell charges and statutory charges are additional

Leverage (Margin)

ICICIdirectUpstox
  • •Intraday equity margin can go up to around 5x on eligible stocks.
  • •Delivery and carry-forward generally follow full margin norms.
  • •Margin/leverage is segment specific and governed by exchange/risk policies.
  • •Delivery generally follows full margin and intraday can provide lower upfront margins.

Features

ICICIdirectUpstox
  • •Integrated 3-in-1 account (bank + trading + Demat).
  • •Strong brand trust and branch-assisted model.
  • •Research and multi-product investing workflows.
  • •Digital-first execution with mobile/web stack.
  • •Strong derivatives support and low brokerage positioning.
  • •Direct mutual fund access with zero commission.

Trading Platforms

ICICIdirectUpstox
  • •ICICIdirect.com website
  • •ICICIdirect mobile app
  • •Upstox Pro web platform
  • •Upstox mobile app

Reviews & Ratings

ICICIdirectUpstox
  • •Viewed as feature-rich and trusted for integrated banking workflow.
  • •In this source extract, no final single overall numeric rating table is shown.
  • •Commonly viewed as low-cost, trader-friendly platform.
  • •In this extract, no final single consolidated numeric rating table is shown.

Investment Options

ICICIdirectUpstox
  • •Equity and derivatives
  • •IPO, mutual funds, bonds, NCDs
  • •Commodities
  • •Insurance and other wealth products
  • •Equity
  • •F&O
  • •Commodity
  • •Currency
  • •Mutual funds

Order Types Offered

ICICIdirectUpstox
  • •Standard market/limit execution flows
  • •VTC/GTC-style functionality referenced in source context
  • •Delivery, intraday, and derivatives order flows
  • •Standard market and limit orders
  • •Delivery/intraday/F&O execution flows
  • •Call-and-trade assisted execution

Suitable For (Investor Type)

ICICIdirectUpstox
  • •Investors wanting 3-in-1 integration and branch support.
  • •Users preferring broader product coverage over pure discount pricing.
  • •ICICI ecosystem customers who value seamless account linkage.
  • •Cost-sensitive active traders.
  • •App-first users who want strong F&O workflow.
  • •Investors needing discount pricing across major segments.

Pros and Cons

ICICIdirectUpstox
  • •Pros:
  • •Robust integrated banking-broking setup.
  • •Broad product basket and research availability.
  • •Strong brand and support infrastructure.
  • •Cons:
  • •Brokerage can be high versus discount peers without optimized plan selection.
  • •Charges and plan structure can feel complex for new users.
  • •Pros:
  • •Competitive low-cost brokerage model.
  • •Broad segment coverage across equity, derivatives, commodity, and currency.
  • •Free account opening and strong digital onboarding.
  • •Cons:
  • •Assisted services add extra charges.
  • •Some advanced full-service advisory expectations may not be met.

Final Note

Use this side-by-side comparison as a starting point and verify the latest brokerage and compliance details on official broker pages before taking decisions.

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