ICICI direct is a retail trading flagship of ICICI Securities. With more than 35 lakh customers, ICICI Direct is the biggest retail full-service stockbroker company in India. Prostocks on the other hand, relatively a new entrant into the Indian stock market, is a discount broker charging a flat fee per transaction from the customers. Prostocks was founded in February 2016.
Everything about Prostocks is Online, be it – customer service, trading, account opening and so on. ICICI, on the other hand, is a player that will help you, spoon feed you, hand hold you through the process, even if you need an offline help, meet someone, talk to somebody and so on. Choosing between the two depends on your preferences, your online appetite, your understanding of the stock market etc.
To make things easy for you, we have listed out the comparison between ICICI Direct Vs Prostocks to help you find which of the two suits your needs better. The comparison is made on aspects such as:
Before we complete this comparison, we think one quick understanding of brokerage charges is important.
Full-service stockbrokers charge brokerage as a percentage of your trading turnover. For instance, if you place a trade of ₹10,000 for Equity delivery and your broker charges 0.4% or 40 paise as brokerage. This would mean, you will be charged 0.40% of ₹10,000 i.e. ₹40 as the brokerage for that particular trade.
Discount brokers, on the other hand, charge a flat rate brokerage (could be ₹10, ₹20 etc) irrespective of the trade value.
Make sure you understand this difference and then take a call. Here is a brokerage calculator for your reference.
Have you in the past or are currently trading with any of the above stockbrokers. If yes, would you like to share your experience(s) with ICICI Direct Vs Prostocks for the benefits of other readers. Please feel free to share in the comments below.