Broker Comparison

Upstox vs ICICI Direct

Compare brokerage charges, account fees, trading platforms, products, MTF, advantages and limitations before choosing a broker.

Data verified: 2026-07-31

Upstox

Discount Broker

★★★★☆ 4.3/5

Account openingFree

AMC₹0 first year

Intraday₹20 or 0.1% per executed order, whichever is lower

View Upstox Review

ICICI Direct

Bank Broker

Account opening₹0

AMC₹700 per annum

IntradayAround 0.027% to 0.029% or flat ₹20 per order if using specific prepaid plans like Prime/iValue.

View ICICI Direct Review

Upstox vs ICICI Direct: Quick comparison

Key charges and account features side by side.

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Feature	Upstox	ICICI Direct
Broker type	Discount Broker	Bank Broker
Account opening	Free	₹0
Annual maintenance	₹0 first year	₹700 per annum
Equity delivery	₹20 per executed order	Around 0.29% of the trade value
Equity intraday	₹20 or 0.1% per executed order, whichever is lower	Around 0.027% to 0.029% or flat ₹20 per order if using specific prepaid plans like Prime/iValue.
Futures	₹20 or 0.05% per executed order, whichever is lower	Flat ₹20 per order (Standard Plan)
Options	₹20 per executed order	Flat ₹20 per order (Standard Plan)
Commodity	₹20 per executed order or 0.05% (whichever is lower)	₹20 per order
Currency	₹20 per executed order or 0.05% (whichever is lower)	₹20 per order
DP charges	₹20.0 + GST	total ₹23.60
Auto Square Off	₹50 + GST	₹50 per order (plus GST) standard I-Value pla
Call & trade	₹75 + GST	₹50 per executed order
Customer support	Official app/web help centre, ticket, email and/or phone support.	Official app/web help centre, ticket, email and/or phone support.
Active Users	Approximately 2.5 million active clients.	2.12 million active stock exchange clients as of June 2026

About Upstox

Upstox is a technology-driven discount broker in India that offers online investing and trading services at competitive charges. Users can trade in equities, commodities, currencies, futures, and options through its mobile and web-based platforms.

The company is backed by prominent investors, including Ratan Tata and Kalaari Capital. Upstox focuses on providing a simple, fast, and accessible trading experience for both beginners and active traders.

Its trading platforms offer advanced charts, technical indicators, watchlists, order management tools, and portfolio tracking features. Users can access equity delivery, intraday trading, futures and options, commodities, and currency derivatives through a single Upstox account.

About ICICI Direct

ICICI Direct is a full-service stockbroker and investment platform operated by ICICI Securities Limited. It allows users to invest and trade across multiple financial products through its website and mobile app.

The platform offers equity, intraday trading, futures and options, commodities, mutual funds, IPOs, bonds, ETFs and other investment products. It also provides research reports, trading tools and market insights for investors and traders.

ICICI Direct is known for its 3-in-1 account facility, which connects a bank account, Demat account and trading account. This makes fund transfers, investing and portfolio management more convenient for ICICI Bank customers.

Trading Platforms & Tools

Upstox offers web and mobile trading platforms designed for investors and active traders. Its tools include advanced charts, technical indicators, multiple order types, customizable watchlists, price alerts, option chain analysis, portfolio tracking, and real-time market data. Users can trade in equities, futures and options, commodities, and currencies, as well as invest in mutual funds, IPOs, ETFs, and other financial products through a single account

Products Offered

Upstox offers a wide range of investment and trading products, including equity delivery, intraday trading, futures and options, commodities, currencies, mutual funds, IPOs, ETFs, bonds, and government securities. Users can access and manage these products through a single Demat and trading account.

Trading Platforms & Tools

ICICI Direct Web Platform: The browser-based platform allows users to invest and trade in equities, derivatives, commodities, mutual funds, IPOs, bonds and ETFs. It includes watchlists, research reports, market data and portfolio tracking.
ICICI Direct Mobile App: The mobile app enables users to place orders, track investments and manage their portfolios from anywhere. It also provides live market updates, advanced charts and investment insights.
Advanced Trading Tools: ICICI Direct offers tools such as GTT orders, basket orders, stock screeners, live charts, i-Track, payoff analyser, option chain, strategy builder and API-based trading.

Products Offered

ICICI Direct offers equity, intraday trading, futures and options, commodities, mutual funds, IPOs, ETFs, bonds, fixed deposits, NPS and insurance products. It also provides research reports, investment tools and margin trading facilities.

Upstox pros and cons

Pros

Low and transparent brokerage
Advanced trading tools and charts
Wide range of investment products

Cons

Does not offer a 3-in-1 account.
Does not offer unlimited monthly trading plans.

ICICI Direct pros and cons

Pros

Convenient 3-in-1 bank, Demat and trading account.
Provides research reports and investment recommendations.
Offers a wide range of trading and investment products.

Cons

Brokerage charges can be higher than discount brokers.
Multiple pricing plans can be confusing for beginners.

Which broker should you choose?

Choose based on the segment you trade, total account cost, platform requirements, research needs and support preference. Verify the latest tariff and product availability on the brokers’ official websites before opening an account.

Broker Rating

Upstox

★★★★☆

4.3/5

4.9L+ Google Play Store Reviews

ICICI Direct

Rating not added

Read complete broker reviews

Upstox Review ICICI Direct Review

Frequently asked questions

Is Upstox good for beginners?

Yes, Upstox is suitable for beginners because it offers an easy-to-use app, online account opening, and access to multiple investment products.

Is Upstox Demat account opening free?

Yes, Upstox currently offers Demat account opening at ₹0.

What are the Upstox annual maintenance charges?

Upstox currently charges ₹0 AMC for the first year, after which non-BSDA users pay ₹300 + GST annually.

What is the brokerage charge in Upstox?

Upstox charges up to ₹20 per executed order, depending on the trading segment.

Does Upstox charge brokerage on equity delivery?

Yes, Upstox currently charges ₹20 per executed equity delivery order.

Can I invest in mutual funds through Upstox?

Yes, users can invest in mutual funds through Upstox with ₹0 charges on mutual fund transactions.

Can I apply for an IPO through Upstox?

Yes, Upstox users can apply for IPOs online, and Upstox currently charges ₹0 brokerage on IPO investments.

How long does it take to open an Upstox account?

An Upstox Demat account can generally be activated within 12–48 hours after successful document verification.

Does Upstox charge DP charges when selling shares?

Yes, Upstox currently charges ₹20 per scrip per day as DP charges when equity delivery shares are sold.

Can I trade in stocks, F&O, commodities and currencies with Upstox?

Yes, Upstox provides access to stocks, futures and options, commodities, and currency trading.

What is the ICICI Direct 3-in-1 account?

The ICICI Direct 3-in-1 account combines an ICICI Bank savings account, Demat account and trading account. It enables faster fund allocation and a more convenient investing experience.

Is ICICI Direct a safe and SEBI-registered broker?

Yes. ICICI Securities Limited is registered with SEBI under registration number INZ000183631.

Is ICICI Direct account opening free?

ICICI Direct currently offers zero account-opening charges for its online 3-in-1 account. Demat AMC, brokerage and other transaction-related charges may still apply.

What are the brokerage charges in ICICI Direct?

ICICI Direct brokerage depends on the selected pricing plan and trading segment. Its iVALUE plan offers ₹20-per-order brokerage for equity intraday, futures, options and commodity trades.

What is the ICICI Direct Demat AMC?

The regular Demat annual maintenance charge may be up to ₹700, while selected subscription plans may offer a reduced AMC.

Which products are available on ICICI Direct?

ICICI Direct offers stocks, intraday trading, futures and options, commodities, mutual funds, IPOs, ETFs, bonds, fixed deposits and other investment products.

Is ICICI Direct suitable for beginners?

ICICI Direct can be suitable for beginners who prefer an integrated bank, Demat and trading account, research support and access to multiple products. However, its charges can be higher than those of some discount brokers.

Is an ICICI Bank account required for ICICI Direct?

An ICICI Bank savings account is required to receive the complete benefits of the ICICI Direct 3-in-1 account. The bank account allows direct fund allocation without manually transferring money to the trading account.

What is ICICI Direct?

ICICI Direct is a full-service stockbroking and investment platform operated by ICICI Securities Limited. It offers online trading, investing, research reports and access to multiple financial products.