Upstox vs ICICIdirect | Broker Comparison

Upstox vs ICICIdirect

Side-by-side view of features, pricing context, and platform fit.

Upstox

Upstox

Active Clients: 20,36,413

Upstox is a technologically advanced low-cost brokerage firm in India, offering trading services in equities, commodities, currency, futures, and options via web and mobile platforms. Upstox has received investment fr...

ICICIdirect

ICICIdirect

Active Clients: 20,45,086

ICICIdirect is a prominent retail stock broker in India, operating as part of the ICICI Group, and provides online trading and investment services spanning equity, derivatives, IPO, mutual funds, fixed deposits, bonds...

Side-by-Side Compare Table

Category	Upstox	ICICIdirect
Basic Details	•Broker Type: Discount broker •Founded: Legacy RKSV/Upstox retail broking entity	•Broker Type: Full-service broker (ICICI Group) •Founded: 1995 (ICICIdirect platform legacy)
Charges & AMC	•Account Opening: Rs 0 •Demat AMC: Rs 150 per year (first-year concessions may apply in offers)	•Account Opening: Rs 0 (as listed) •Demat AMC: Rs 700 per annum (individual account)
Brokerage	•Equity Delivery: Rs 20 or 2.5% (whichever is lower) •Equity Intraday: Rs 20 or 0.05% (whichever is lower)	•Brokerage is plan based (Prime plans and MoneySaver). •Prime plan examples range by subscription slab.
Other Charges	•Call and Trade: Rs 20 per executed order •Instant money transfer fee and physical statement fees may apply	•Call and trade charges apply (listed as Rs 50 per order in extract). •Demat debit and operational charges apply per schedule.
Leverage (Margin)	•Margin/leverage is segment specific and governed by exchange/risk policies. •Delivery generally follows full margin and intraday can provide lower upfront margins.	•Intraday equity margin can go up to around 5x on eligible stocks. •Delivery and carry-forward generally follow full margin norms.
Features	•Digital-first execution with mobile/web stack. •Strong derivatives support and low brokerage positioning.	•Integrated 3-in-1 account (bank + trading + Demat). •Strong brand trust and branch-assisted model.
Trading Platforms	•Upstox Pro web platform •Upstox mobile app	•ICICIdirect.com website •ICICIdirect mobile app
Reviews & Ratings	•Commonly viewed as low-cost, trader-friendly platform. •In this extract, no final single consolidated numeric rating table is shown.	•Viewed as feature-rich and trusted for integrated banking workflow. •In this source extract, no final single overall numeric rating table is shown.
Investment Options	•Equity •F&O	•Equity and derivatives •IPO, mutual funds, bonds, NCDs
Order Types Offered	•Standard market and limit orders •Delivery/intraday/F&O execution flows	•Standard market/limit execution flows •VTC/GTC-style functionality referenced in source context
Suitable For (Investor Type)	•Cost-sensitive active traders. •App-first users who want strong F&O workflow.	•Investors wanting 3-in-1 integration and branch support. •Users preferring broader product coverage over pure discount pricing.
Pros and Cons	•Pros: •Competitive low-cost brokerage model.	•Pros: •Robust integrated banking-broking setup.

Detailed Comparison

Basic Details

Upstox	ICICIdirect
•Broker Type: Discount broker •Founded: Legacy RKSV/Upstox retail broking entity •SEBI Registration: INZ000315837 •NSE Member Code: 13942 •Net Worth: Rs 839.83 Cr	•Broker Type: Full-service broker (ICICI Group) •Founded: 1995 (ICICIdirect platform legacy) •SEBI Registration: INZ000183631 •NSE Member Code: 07730 •Net Worth: Rs 4581.84 Cr

Charges & AMC

Upstox	ICICIdirect
•Account Opening: Rs 0 •Demat AMC: Rs 150 per year (first-year concessions may apply in offers) •App/web platform model with low-cost pricing	•Account Opening: Rs 0 (as listed) •Demat AMC: Rs 700 per annum (individual account) •Demat debit charge and call-and-trade charges apply

Brokerage

Upstox	ICICIdirect
•Equity Delivery: Rs 20 or 2.5% (whichever is lower) •Equity Intraday: Rs 20 or 0.05% (whichever is lower) •Equity Futures: Rs 20 or 0.05% (whichever is lower) •Equity Options: Flat Rs 20 per order •Currency/Commodity: Similar low-cost flat-fee pattern as per segment tables	•Brokerage is plan based (Prime plans and MoneySaver). •Prime plan examples range by subscription slab. •MoneySaver example: Delivery 0.29%, Intraday/Futures 0.029%, Options Rs 49 per lot.

Other Charges

Upstox	ICICIdirect
•Call and Trade: Rs 20 per executed order •Instant money transfer fee and physical statement fees may apply •DP sell charges and statutory charges are additional	•Call and trade charges apply (listed as Rs 50 per order in extract). •Demat debit and operational charges apply per schedule. •Standard statutory charges apply separately.

Leverage (Margin)

Upstox	ICICIdirect
•Margin/leverage is segment specific and governed by exchange/risk policies. •Delivery generally follows full margin and intraday can provide lower upfront margins.	•Intraday equity margin can go up to around 5x on eligible stocks. •Delivery and carry-forward generally follow full margin norms.

Features

Upstox	ICICIdirect
•Digital-first execution with mobile/web stack. •Strong derivatives support and low brokerage positioning. •Direct mutual fund access with zero commission.	•Integrated 3-in-1 account (bank + trading + Demat). •Strong brand trust and branch-assisted model. •Research and multi-product investing workflows.

Trading Platforms

Upstox	ICICIdirect
•Upstox Pro web platform •Upstox mobile app	•ICICIdirect.com website •ICICIdirect mobile app

Reviews & Ratings

Upstox	ICICIdirect
•Commonly viewed as low-cost, trader-friendly platform. •In this extract, no final single consolidated numeric rating table is shown.	•Viewed as feature-rich and trusted for integrated banking workflow. •In this source extract, no final single overall numeric rating table is shown.

Investment Options

Upstox	ICICIdirect
•Equity •F&O •Commodity •Currency •Mutual funds	•Equity and derivatives •IPO, mutual funds, bonds, NCDs •Commodities •Insurance and other wealth products

Order Types Offered

Upstox	ICICIdirect
•Standard market and limit orders •Delivery/intraday/F&O execution flows •Call-and-trade assisted execution	•Standard market/limit execution flows •VTC/GTC-style functionality referenced in source context •Delivery, intraday, and derivatives order flows

Suitable For (Investor Type)

Upstox	ICICIdirect
•Cost-sensitive active traders. •App-first users who want strong F&O workflow. •Investors needing discount pricing across major segments.	•Investors wanting 3-in-1 integration and branch support. •Users preferring broader product coverage over pure discount pricing. •ICICI ecosystem customers who value seamless account linkage.

Pros and Cons

Upstox	ICICIdirect
•Pros: •Competitive low-cost brokerage model. •Broad segment coverage across equity, derivatives, commodity, and currency. •Free account opening and strong digital onboarding. •Cons: •Assisted services add extra charges. •Some advanced full-service advisory expectations may not be met.	•Pros: •Robust integrated banking-broking setup. •Broad product basket and research availability. •Strong brand and support infrastructure. •Cons: •Brokerage can be high versus discount peers without optimized plan selection. •Charges and plan structure can feel complex for new users.

Final Note

Use this side-by-side comparison as a starting point and verify the latest brokerage and compliance details on official broker pages before taking decisions.