ICICIdirect launches ‘ICICIdirect Neo’ – a zero brokerage plan

Mumbai, December 16th, 2020 – ICICI Securities (I-Sec), one of India’s largest brokerage house with ~5 million customers, today announced the launch of ‘ICICIdirect Neo’ – a path breaking zero brokerage plan.  This is one-of-its-kind plan targeted at traders, offering unlimited trading with zero brokerage on all Futures trades and flat Rs. 20 per order for Margin and Options trades.

ICICIdirect Neo customers will get host of additional distinctive features like:

·         Instant liquidity, where customers get cash within 30 minutes of selling stocks as per their chosen plan

·         Access to ICICIdirect’s award winning research with over 300 companies under fundamental coverage

·         Access to One-Click Portfolios –  baskets of research curated theme-based (fundamental or technical or a combination of both) stocks or MFs

·         Access to proprietary and third party trading tools to get the best out of any market situations

·         Margin Trading Funding (MTF) at an interest rate of just 8.9% per annum, as per chosen plan

Mr. Vijay Chandok, MD & CEO, ICICI Securities says, “We remain agile to customer feedback and the launch of ICICIdirect Neo is in response to the feedback we received from our trading customers. This plan, with zero brokerage on all Futures trades, and a flat Rs.20 per order brokerage on Margin and Options trades, is tailor-made for them and will aid in their quest for maximizing profits. It’s very strong proposition for the trading community who can enjoy the combination of low cost, robust platform, and strong analytics tools.”

For plan details, please visit icicidirect.com.

About ICICI Securities

ICICI Securities Limited (I-Sec) is a subsidiary of ICICI Bank Ltd. The company began its operation in May 1995 and continues to grow its operation through expanding its client base and providing different type of services. I-Sec operates www.icicidirect.com, a virtual financial supermarket, meeting the three need sets of its clients- investments, protection, and borrowing. Through its three lines of businesses — broking, distribution of financial products, and investment banking– I-Sec serves customers ranging from the retail and institutional investors to corporates to high net-worth individuals to government.

I-Sec is listed on National Stock Exchange (NSE) and the Bombay Stock Exchange (BSE). For details, visit: www.icicisecurities.com

Disclaimer

Brokerage will not exceed the Exchange prescribed limit.

Except for the historical information contained herein, statements in this release which contain words or phrases such as ‘will’, ‘expected to’, etc., and similar expressions or variations of such expressions may constitute ‘forward-looking statements’. These forward-looking statements involve a number of risks, uncertainties and other factors that could cause actual results, opportunities and growth potential to differ materially from those suggested by the forward-looking statements. These risks and uncertainties include, but are not limited to, the actual growth in broking business and other financial services in the countries that we operate or where a material number of our customers reside, our ability to successfully implement our strategy, including our use of the Internet and other technology our exploration of merger and acquisition opportunities, our ability to integrate mergers or acquisitions into our operations and manage the risks associated with such acquisitions to achieve our strategic and financial objectives, our growth and expansion in domestic and overseas markets, technological changes, our ability to market new products, the outcome of any legal, tax or regulatory proceedings in India and in other jurisdictions we are or become a party to, the future impact of new accounting standards, our ability to implement our dividend policy, the impact of changes in insurance regulations and other regulatory changes in India and other jurisdictions on us. ICICI Securities Limited undertakes no obligation to update forward-looking statements to reflect events or circumstances after the date thereof.

ICICI Securities Ltd. ( I-Sec). Registered office of I-Sec is at ICICI Securities Ltd. – ICICI Centre, H. T. Parekh Marg, Churchgate, Mumbai – 400020, India, Tel No : 022 – 2288 2460, 022 – 2288 2470. I-Sec is a Member of National Stock Exchange of India Ltd (Member Code :07730), BSE Ltd (Member Code :103), MCX (Member Code: 56250) and having SEBI registration no. INZ000183631.

Name of the Compliance officer (broking): Mr. Anoop Goyal, Contact number: 022-40701000, E-mail address: complianceofficer@icicisecurities.com. Investments in securities market are subject to market risks, read all the related documents carefully before investing.

Margin Trading is offered as subject to the provisions of SEBI Circular CIR/MRD/DP/54/2017 dated June 13, 2017 and the terms and conditions mentioned in rights and obligations statement issued by I-Sec.

e-ATM which stands for Equity ATM is a facility offered by ICICI direct(ICICI Securities Ltd) wherein customer would receive credit of funds within 30 minutes (as against the current payout cycle of T+2) from the time of execution of sell order in cash segment. Such eATM order shall be permitted upto Rs. 50,000/- per customer per day for eligible securities. Please note that intervals at which payout of funds will be made and the maximum amount per customer that will be paid during the day will be at sole discretion of ICICI Securities Ltd.

SEBI Research Analyst Registration no. INH000000990. The non-broking products / services like Mutual Funds, Insurance, FD/ Bonds, loans, PMS, Tax, Elocker, NPS, IPO, Research, Financial Learning etc. are not exchange traded products / services and ICICI Securities Ltd. is just acting as a distributor/ referral Agent of such products / services and all disputes with respect to the distribution activity would not have access to Exchange investor redressal or Arbitration mechanism.

The contents herein above shall not be considered as an invitation or persuasion to trade or invest.  I-Sec and affiliates accept no liabilities for any loss or damage of any kind arising out of any actions taken in reliance thereon. The information mentioned herein above is only for consumption by the client and such material should not be redistributed. Please note Brokerage would not exceed the SEBI prescribed limit.

The information contained herein is strictly confidential and meant solely for the selected recipient and may not be altered in any way, transmitted to, copied or distributed, in part or in whole, to any other person or to the media or reproduced in any form, without prior written consent of ICICI Securities Limited. The contents of this mail are solely for informational purpose and may not be used or considered as an offer document or solicitation of offer to buy or sell or subscribe for securities or other financial instruments or any other product. While due care has been taken in preparing this mail, I-Sec and affiliates accept no liabilities for any loss or damage of any kind arising out of any inaccurate, delayed or incomplete information nor for any actions taken in reliance thereon. This mail is not directed or intended for distribution to, or use by, any person or entity who is a citizen or resident of or located in any locality, state, country or other jurisdiction, where such distribution, publication, availability or use would be contrary to law, regulation or which would subject I-Sec and affiliates to any registration or licensing requirement within such jurisdiction.

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