ICICI Direct
Interactive Brokers
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Overview
ICICI Direct was founded in 1994 and is headquartered in India, while Interactive Brokers was established in 1977 and is based in United States. ICICI Direct holds licences including Securities and Exchange Board of India (SEBI), while Interactive Brokers is regulated by the US Securities and Exchange Commission and the Commodity Futures Trading Commission. Australian Securities and Investments Commission (AFSL: 453554) and is a participant of ASX among others. ICICI Direct serves 2,000,000+ clients worldwide; Interactive Brokers has 1,000,000+. The minimum deposit is $0 at ICICI Direct and $1 at Interactive Brokers.
| Feature | ICICI Direct | Interactive Brokers |
|---|---|---|
| Min. Deposit | $0 | $1 |
| Regulation | Securities and Exchange Board of India (SEBI), Member of the Bombay Stock Exchange | the US Securities and Exchange Commission and the Commodity Futures Trading Commission. Australian Securities and Investments Commission (AFSL: 453554) and is a participant of ASX, ASX 24 and Chi-X Australia. Is a member of the Investment Industry Regulatory Organization of Canada (IIROC) and Member - Canadian Investor Protection Fund. Is authorised and regulated by the Financial Conduct Authority. FCA register entry number 208159. Is regulated by the Commission de Surveillance du Secteur Financier (CSSF). Is regulated by the Central Bank of Ireland (CBI, reference number C423427). Is licensed and regulated by the Central Bank of Hungary (Magyar Nemzeti Bank) under no. H-EN-III-623/2020. Is regulated by the Hong Kong Securities and Futures Commission. Is a member of NSE, BSE, SEBI. Regn. No. SEBI Registration No. INZ000217730; NSDL: IN-DP-NSDL-301-2008. CIN-U67120MH2007FTC170004. Is regulated by Kanto Local Finance Bureau (Registration No.187). Is licensed and regulated by the Monetary Authority of Singapore (Licence No. CMS100917). |
| Founded | 1994 | 1977 |
| Country | India | United States |
| Clients | 2,000,000+ | 1,000,000+ |
Fees
Fees are a critical factor when choosing between ICICI Direct and Interactive Brokers, directly affecting your bottom line as a trader. ICICI Direct has a lower barrier to entry with a minimum deposit of $0 (vs $1 at Interactive Brokers). Interactive Brokers charges withdrawal fees while ICICI Direct does not, giving ICICI Direct an edge for frequent withdrawers. ICICI Direct applies inactivity fees on dormant accounts; Interactive Brokers does not. The two brokers are broadly comparable on fee structure.
| Feature | ICICI Direct | Interactive Brokers |
|---|---|---|
| Min. Deposit | $0 | $1 |
| Withdrawal Fees | No | Yes |
| Inactivity Fees | Yes | No |
| Deposit Fees | No | No |
| CFD Fees | No | Yes |
Platforms
ICICI Direct offers MT4, MT5, cTrader, while Interactive Brokers supports MT4, MT5, cTrader, a proprietary platform. Both brokers provide mobile trading apps for iOS and Android. Both brokers support copy or social trading, catering to less hands-on investors. Interactive Brokers edges ahead on platform breadth and functionality in our scoring.
| Feature | ICICI Direct | Interactive Brokers |
|---|---|---|
| MT4 | Yes | Yes |
| MT5 | Yes | Yes |
| cTrader | Yes | Yes |
| Windows App | Yes | Yes |
| iOS App | Yes | Yes |
| Android App | Yes | Yes |
| Trading Platforms | Web Trader, Tablet & Mobile apps | Web Trader, NinjaTrader, Tablet & Mobile apps |
Education & Research
Education and research tools help traders at every level make more informed decisions, and here's how ICICI Direct and Interactive Brokers compare. Both brokers run regular live webinars. Both provide video tutorials, including advanced content. Daily market commentary is available from both brokers. Both integrate third-party research tools including Trading Central. Archived webinars are available at both brokers for self-paced learning. Interactive Brokers scores higher overall in education and research.
| Feature | ICICI Direct | Interactive Brokers |
|---|---|---|
| Forex Education | No | Yes |
| CFD Education | Yes | Yes |
| Weekly Webinars | Yes | Yes |
| Daily Commentary | Yes | Yes |
| Trading Central | Yes | Yes |
| Autochartist | No | Yes |
Deposits & Withdrawals
Convenient deposit and withdrawal options reduce friction for traders, especially important when managing positions across time zones. ICICI Direct accepts 1 of the tracked payment methods (bank transfer), while Interactive Brokers supports 2 (bank transfer, credit/debit card). Interactive Brokers uniquely supports credit/debit card among the two brokers. Interactive Brokers scores higher on deposit and withdrawal flexibility.
| Feature | ICICI Direct | Interactive Brokers |
|---|---|---|
| Bank Transfer | Yes | Yes |
| Credit Card | No | Yes |
| PayPal | No | No |
| Skrill | No | No |
| Neteller | No | No |
Support
Responsive customer support matters most when you're locked out of your account or need urgent help with a trade. Both ICICI Direct and Interactive Brokers offer live chat support. Both provide phone support. Email support is available at both brokers. ICICI Direct supports 13 languages and Interactive Brokers supports 2, giving ICICI Direct broader global reach. Both brokers are comparable on support quality.
| Feature | ICICI Direct | Interactive Brokers |
|---|---|---|
| Live Chat | Yes | Yes |
| Phone Support | Yes | Yes |
| Email Support | Yes | Yes |
| Languages | English, Deutsch, Nederlands, Espanol, Francais, Italiano, Polski, Srpski, Norsk, Svenska, Cesky, Romana, Turkce | English, and Chinese |