ICICI Direct NEO
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Yes, ICICI Direct allows the traders to get the opportunity to trade higher with a lesser brokerage. With the zero brokerage plan, i.e. ICICI Direct Neo, the customers who earn with the futures trading can get the facility of zero brokerage by subscribing to the plan.
However, the ICICI Direct Option brokerage has limited impact.
Nonetheless, the main questions that arise here are:
- What is ICICI Neo?
- What will be the fee I’d need to pay?
- How to subscribe to the plan?
- What are the advantages of connecting to the plan?
So to gather in-depth knowledge of the queries as mentioned above, why not let’s dive into the following segments.
ICICI Direct NEO Plan Review
The ICICI Direct Neo allows futures to trade with zero brokerage along with unlimited trading under all segments with the flat fee of ₹20 per order.
To proceed with this brokerage plan, it is important to pen down that to subscribe to the plan; the applicant is required to pay ₹299+GST.
Moreover, if any of the free cards are available in the account, in case Neo is activated, the free card will be cancelled. Therefore, it is advised to use the complimentary brokerage on the first go and then start the Neo Plan after the exhaustion of the free card.
At the same time, ICICI 3 in 1 Account proposition stays the same. You still get the option of an ICICI demat account, a trading account and an integrated bank account (if you prefer to).
Let’s start the journey of grabbing the information with the ICICI Direct Neo charges. For that, let’s delve inside more.
ICICI Direct NEO Charges
The main query always remains the same regarding a product. It is the charges of the same. Isn’t it? If yes, then to check the ICICI Direct Neo Charges, let’s dive into the following table.
To reap the benefit of minimum trading fees one has to pay an ICICI Direct account opening charges equal to ₹299. This is the subscription cost that activates the brokerage plan and allows you to trade at the low cost.
Not only this will give you the benefit to trade at a low cost but also there is a drop in ICICI Direct AMC Charges.
Here instead of the standard AMC fees of ₹700, you need to pay only ₹300 per annum. However, these charges are applicable from the first year onwards.
In all, you can save more with ICICI Direct Neo Plan.
Let’s now check the benefit you can avail of in its brokerage charges.
ICICI Direct NEO Brokerage Charges
As already mentioned, ICICI Direct Neo is a type of brokerage plan where the broker does not charge any fee for futures trading, whereas in all other segments, it charges fixed and flat charges. To understand the same, let’s check the following table:
From the above table, it is concluded that NEO plans offer discounts in charges in different segments, but the maximum advantage is for Futures traders, who can now trade at zero brokerage charges.
How to Activate NEO Plan in ICICI Direct?
After getting the different pieces of information regarding the ICICI Direct Neo Plan, are you looking forward to subscribing to the plan? If so, then let’s shed some light on the procedure of activating this brokerage plan. For that, consider the following steps.
- Go to the official website of the broker and login:
- Go to the ‘Setting’ icon and click on ‘Choose ICICIDirect Neo Pricing’:
- A new window will appear on the screen. Click on ‘I agree to the terms and conditions and click on submit to register for the ICICI Direct Neo Plan.
And your plan will get activated if:
- You have applied before the market closes, i.e. 3:30 pm; the Plan will be activated on the same day.
- You applied for the plan after market hours, i.e. 3:30; the conditions plan will get activated on the next trading day.
ICICI Direct NEO Benefits
But how will the ICICI Direct Neo plan benefit you? There are multiple plans offered by this stockbroker, for instance, there is ICICI Direct Prime Plan but how is this one any different?
The plan offers various features and perks that can be enjoyed by activating the plan.
These benefits or features are as follows:
- After selling the shares, get the funds in the trading account within 30 minutes.
- At 0.025% per day, get the perk of margin funding with the ICICI Direct Neo plan.
- By subscribing to the ICICI Direct Neo plan, get the opportunity to get the research team.
With every product, there comes some of the terms and conditions that are applied to the customer. Likewise, ICICI Direct Neo Plan also provides some T&Cs that are to be checked. So, let’s dive into the following information to check the same.
- The ICICI Direct Neo Plan is created for the resident individuals, non-individuals as well as HUFs.
- The brokerage that will be charged on F&O will be imposed the same on both legs.
- If Option 20, Bullet Plan or Option 195 is subscribed, after activating the ICICI Direct Neo Plan, these plans will automatically get cancelled, and the charges will be levied as per Neo on the options trading.
- Under ICICI Direct Neo Plan, the call and trade charges will be ₹50 on every order.
- For the transaction of up to ₹40,000, the minimum brokerage under equity intraday will be 0.05% of trade value or else ₹20, whichever is lower.
- Apart from this, under ICICI Direct Neo Plan, various options like ‘Change Mode’ and ‘Convert to Delivery’ are not available.
Is ICICI Direct NEO Good?
The ICICI Direct Neo can be a perfect option for the traders who trade under the futures segment. Likewise, it can benefit the traders with other segment selection also because, with ICICI Direct Neo, the traders are required to pay only a flat fee of ₹20 per order in each segment.
Therefore, it is an excellent time to open a demat account with the stockbroker with the Neo Plan. If you already have an account with the stockbroker, then why wait for more? Activate the Neo Plan today and trade efficiently with less brokerage.
Here is a quick form for your reference: