ICICI Direct Free Demat Account

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ICICI Direct, a bank-based full-service broker offers brokerage services for years and attracting many investors by offering ICICI Direct Free Demat Account.

In this document, we are offering a full-details of how you can apply for the free account services. But before jumping into the context let’s first know a little about ICIC Direct.

ICICI Direct is a retail trading service from ICICI securities that happens to be the biggest retail stockbroker in India backed by over 35 million customers opting for their services.

With ICICI Direct Free Demat Account, you can trade in shares on both NSE and BSE, Forex, IPOs, mutual funds, etc. all through one account.

Dive in to learn the whole process!

ICICI 3 in 1 Account Free

The best benefit of opening an account with ICICI Direct is that it offers the 3 in 1 account. Thus, now you can open three different accounts, trading, demat, and bank account with the firm.

Here to go ahead with the ICICI Direct Registration, you need to pay account opening fees that vary according to the scheme you opt for. So, choosing the right brokerage plan avails you the option to open the account for FREE as well.

Along with this, the brokers come up with many more benefits like free access to trading apps, research tips, multiple brokerage plans, different trading segments, etc.

So, not only you can get into trade for free but leverage the advantage of many of its services that further help you in making smart investments.

All these features and benefits make the broker the bank for demat account in India.

ICICI Free Demat Account Opening

A Demat account allows you to keep your holdings and shares in an electronic form. There are many brokers that provide a seamless way to open a Demat account but only a few offers the provision to open it for FREE.

Since it is a full-service stockbroker, you can reap the additional benefit of availing of research tips and ideas of trade. Besides, you can have a 3-in-1 account (bank, trading, and Demat account), hence you can have a hassle-free experience.

ICICI Direct offers a fairly effortless way to Open Free Demat Account by both online and offline methods. The process includes a couple of basic steps.

In the online method, simply visit the website, click on the link, and fill in all the required details essential to open an account. For the offline method, you can either download the form or can get one from the nearby branch.

In case you are a minor and want to open a demat account, then you have an option to go for demat account for minors where you can open the account in the documents of your guardian and parents.

Once you turn above 19, you can convert the ICICI demat account for minors into the normal demat account. Thus, it is better to know the minor demat account rules along with the documents required for the minor demat account.

Documents For ICICI Direct Free Demat Account

For opening a Demat account, the single most requisite is PAN Card. So, only those having one can apply. In case, you don’t have a PAN Card, apply at the earliest.

Identity Proof – Aadhaar Card, Driving License, Passport, Voter ID, Ration Card,
Address Proof – Address proof can be the same as the ID proof but the address should be mentioned, Electricity Bill, Telephone Bill, College Id Card with mention of Hostel Address,
Income Proof – 6 months bank statements or copy of ITR filed

In addition to the documents mentioned above, you will be requiring a scanned photograph, if applying online or a couple of passport size photographs for (offline process).

ICICI Direct Free Demat Account Charges

ICICI Direct customers will be levied the following free Demat account charges :

ICICI Direct Account Opening Charges – You can open a Demat account for free.
The ones opting for a 3 in 1 account will have to shell out a one–time charge of ₹975 for opening a trading account along with a Demat account.
Annual Maintenance Charges (AMC)- ICICI Direct AMC charges are nil for the first year.
The charges may vary from ₹300 – ₹700 from the second year onwards.

ICICI Direct Demat account Refer and Earn

With ICICI free demat account you get access to trade in different segments. Along with this, you get a chance to make extra money using ICICI Direct referral program. So, once you open a demat account you are eligible for the referral program.

Under this program, you can refer ICICI Direct demat account to your friend or family who is interested in trading and investing in the share market and can earn ₹500 on each referral.

To refer, login to the ICICI demat account app and click on Refer and Earn in the top right corner.
Enter the registered mobile number, and a referral link will be generated that you can share using different apps.
Other than this you can directly visit the ICICI referral page and enter your registration details.
Now enter your friend’s name and mobile number.
Click on Submit button.

If your referred friend opens a demat account with the broker, then you will get ₹500 as a referral amount.

Benefits of ICICI Direct Free Demat Account

Having an ICICI Direct free Demat account has many advantages. Some of them include :

Accessibility – You can access your Geojit Free Demat Account on various platforms, including web, desktop, web.
eATM – eATM or Equity ATM is an exclusive feature of ICICI Direct Free Demat Account which enables you to receive money made from selling a share instantly in your bank account.
Free Brokerage – One of the major benefits of opting for an ICICI Direct Free Demat Account is the relaxation from paying brokerage charges. Trade up to ₹44 Lakh without worrying about brokerage charges.
myGTC Feature – With ICICI Direct you can avail the GTC orders facility. This feature allows traders to specify an amount to purchase a share along with mentioning the expiry date which is usually within 30 to 90 days.

Also if you wish to transfer your Demat account to the nominee after your death (that is when we know that the nominee in the demat account was already added). Then we have a piece of good news for you, the option to Demat account transfer nominee is also available.

Disadvantages of ICICI Direct Free Demat Account

Whenever there are advantages, there are bound to be disadvantaged as well. Some of the disadvantages of ICICI Direct free Demat account are listed below :

High Brokerage Charges – ICICI Direct brokerage charges are higher than others offering the same services.
Call And Trade Charges– Initially, they provide their clients with 20 free calls per month. On the expiry of which they charge ₹25 per call, that is expensive and also a drawback for investors who trade frequently.
No Commodity Trading– ICICI Direct is not registered with MCX and NCDEX, thus it doesn’t offer a commodity trading facility.

Is ICICI Demat Account Good?

ICICI Direct is a full-service stockbroker, that not only opens a gateway for a free demat account through its various schemes but also offers the chance to reap the benefit of a 3-in-1 account.

Along with this, it offers a user-friendly mobile app and other services that differentiate it from the rest of the stockbrokers.

So get into a trade with one of the most renowned stockbrokers by opening a demat account now.

Willing to open a free Demat Account?