On Monday, ICICI Securities (I-Sec) announced the launch of a zero brokerage plan ‘ICICIdirect Neo’, which offers unlimited trading with zero brokerage on all futures trades and flat Rs20 per order for intraday and options trades. 

 

The brokerage house with approx. 5 million customers said that ICICIdirect Neo customers will also get features like instant liquidity, where customers get cash within 30 minutes of selling stocks, access to research reports and margin trading funding at an interest rate of 8.9% per annum. 

 

According to Vijay Chandok, Managing Director & Chief Executive Officer, ICICI Securities the launch of ICICIdirect Neo is in response to the feedback the brokerage received from their trading customers. He said “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 a very strong proposition for the trading community who can enjoy the combination of low cost, robust platform, and strong analytics tools.” 

 

Last month Kotak Securities too had launched new plans with zero brokerage on intraday trades and Rs 20 per order for all other future & options (F&O) trades including equity, commodity and currency.