ICICI Trade Racer is a terminal-based trading software from ICICI Direct, a full-service stockbroking house and the trading arm of ICICI Bank. In this detailed review, we will take a small demo of its features, look at its performance, pros and cons.
This will help you to figure out whether you should be trading through this terminal software or not.
ICICI Trade Racer Review
ICICI Direct is a leading name in full-service stockbroking space. It enjoys decent brand equity since its the trading arm of ICICI Bank.
Since it comes from a full-service stockbroker, clients get access to research and trading calls for their fundamental and technical decisions through its ‘iClick2Gain‘ feature.
Users need to download the software first and then install it on their desktop or laptop for trading.
ICICI Trade Racer Demo
Let’s have a quick look at some of the features offered in this terminal based trading software from ICICI Direct:
For all the technical analysis folks, Trade Racer provides trend scanner feature that tracks intra-day price movements to find scrips that trend based on technical parameters set at a pre-defined level. The scanner is available at a different scrip-trend level including Bullish, Bearish, Pivot and Miscellaneous.
Once logged in, Users can select the view they like to view, there are three such views available namely Analytical view, Derivatives view, Margin view or the last logged in session’s view. This helps the user to make a choice right at the start of how he/she is looking to start the trading session.
You can even scan the stocks on a real-time basis through Live Scanner. This feature helps you to figure out scrips that see highs and lows at daily, weekly, monthly, quarterly and yearly levels.
Heatmap feature gives you an idea directly which stocks have moved up and which are the ones that face downward movement through colour coding in green and red respectively. This helps in quick decision making at crucial opportunities.
The software allows users to add multiple market watch lists (up to 5) with up to the provision of adding up to 20 scrips in each market watch:
Users are allowed to customize user interface layout, colour coding, grid layout and more as per preferences and requirements.
Get access to Stocks that are highest gainers, losers, active in terms of volume and value on the stock market.
Charting features with provision to apply the range of indicators for detailed stock analysis for your trades and investments. Some of those include:
Draw trend lines on top of the graphs to understand the overall momentum of the market and thus, to take quick judgments:
The software also provides a ‘Snap View’ feature that basically provides detailed information on a scrip including Market Depth, Charts, Peer Group, Pivot levels, corporate announcements etc.
A mainstream full-service stockbroker such as ICICI Direct provides tips with specific filtering and segmentation including Stocks with high price momentum, top revenue stocks, top profitable stocks, top performers of the year etc.
ICICI Trade Racer Charges
There are no extra charges levied by ICICI Direct in order to use ICICI Trade racer from its clients.
All you need to take care of is the account related charges, transaction charges, regulatory charges, taxes (check ICICI Direct Charges for more information).
Furthermore, when you are placing trades through ICICI Trade racer, there will be a certain brokerage that you need to pay for each successful buy or sell trade. You will be required to pay for that too (check ICICI Direct Brokerage Calculator for reference).
As such ICICI Trade Racer draws no extra charges on its usage.
ICICI Trade Racer Advantages
Let’s quickly talk about some of the benefits you will get access to in case you trade using ICICI Trade Racer:
An advanced trading terminal software, highly suitable for heavy traders and experts who prefer high performance and technical assistance from the trading software.
Multiple widgets or window panels can be configured based on the user’s trading and analysis preferences. A user can add up to 9 such widgets on the same screen. Here is how it looks:
Exhaustive details on how the stock has seen buys and sells over a period of time, that helps the user to take a calculated judgment.
ICICI Trade Racer keeps you informed about the Internation Indices from countries in US, Europe & Asia.
There are 3 different themes that you can choose from that helps in customizing the layout of the trading software.
ICICI Trade Racer Disadvantages
Here are some of the concerns around this terminal software that you must be aware of:
Some issues observed in loading charting tools during peak market hours, especially in smaller cities with lower internet bandwidth
ICICI Direct is one of the expensive stockbrokers in the country when it comes to brokerage charges. The bad part on top of it is, the charges are not even negotiable.
The update frequency cycle of ICICI Trade Racer is pretty high, implying that any new features or existing bugs will take time to get fixed.
Post going through a demo of this trading application and taking feedback from the clients of this broker, it is safe that say that ICICI Trader is one of the reasonable trading application.
A beginner level trader may find it relatively tough to understand, at least initially. Thus, the user experience is certainly one area where the broker can work on as far as this terminal trading software is concerned.
Feel free to let us know about your experiences using ICICI Trader Racer.
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More on ICICI Direct
If you wish to learn more about this full-service stockbroker, here are a few references for you: