ICICI Direct Complaints

Other Stock Broker Complaints

ICICI Direct Complaints are relatively limited in number and the credit mostly goes to the kind of services this full-service stockbroker provides to its clients. In this review, we will have a quick look at the kinds of complaints raised and the broker’s record over the past few years in terms of resolving those complaints.

ICICI Direct is a bank based full-service stockbroker in India and is known for its research, offline presence, high brand equity and reasonable customer service.
Having said that, being a full-service stockbroker, ICICI Direct charges relatively high brokerage charges. You can check this ICICI Direct Brokerage Calculator for your reference.
As mentioned in the table above, you can reach out through the contact details shared.
As per the latest records, ICICI Direct has an active client base of 8,43,549 making it one of the top stockbrokers in India, in terms of the active client base.

ICICI Direct Complaints Data

Here is a quick snap-shot of the complaints raised by its client base over the last few years along with the number of complaints resolved by the broker in each financial year.
As shown above, this is the break up of the complaints received by the broker and resolved at the same time.
  • For the year 2015, ICICI Direct complaints were 153 and it was able to resolve 100% of the complaints.
  • For the year 2016, ICICI Direct complaints were 132 and it was able to resolve 100% of the complaints.
  • For the year 2017, ICICI Direct complaints were 68 and it was able to resolve 92.6% of the complaints while the rest 7.4% remain unresolved.
  • For the year 2018, ICICI Direct complaints have been 112 and it was able to resolve 100% of the complaints.
  • For the year 2019, ICICI Direct complaints have been 32 till now and it was able to resolve 68% of the complaints while the rest 32% remain unresolved.

ICICI Direct Complaints Types

The nature of complaints raised against this full-service stockbroker has been related to:

  • Service provided by the broker
  • Unauthorized Trades

From the 9 sections offered by NSE, the majority of the clients of ICICI Direct have filed complaints against the broker in Type 4 & 5 that implies the customer service a broker provides to its clients.

Thus, it is definitely evident that ICICI Direct needs to work upon the customer care it provides to its clients.

Also Read: ICICI Direct Customer Care


ICICI Direct Complaints Vs Industry

When it comes to comparing ICICI Direct with the Industry Average in terms of the number of complaints per 10,000 clients, then this is how the broker stands against the industry average:
In other words, ICICI Direct gets half the complaints as far as Industry standards are concerned. This can be explained as ICICI Direct has received complaints from 0.01% of its active client base while the Industry average is 0.11%.
If you have had any good or bad experiences with the broker, feel free to share in the comments section below and help your fellow traders to make a decision to go ahead with ICICI Direct as a stockbroker or not.

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