ICICI Direct
Saxo Markets
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Overview
ICICI Direct was founded in 1994 and is headquartered in India, while Saxo Markets was established in 2012 and is based in Denmark. ICICI Direct holds licences including Securities and Exchange Board of India (SEBI), while Saxo Markets is regulated by Financial Conduct Authority (FCA) among others. ICICI Direct serves 2,000,000+ clients worldwide; Saxo Markets has 10,000+. The minimum deposit is $0 at ICICI Direct and $6500 at Saxo Markets.
| Feature | ICICI Direct | Saxo Markets |
|---|---|---|
| Min. Deposit | $0 | $6500 |
| Regulation | Securities and Exchange Board of India (SEBI), Member of the Bombay Stock Exchange | Financial Conduct Authority (FCA) |
| Founded | 1994 | 2012 |
| Country | India | Denmark |
| Clients | 2,000,000+ | 10,000+ |
Fees
Fees are a critical factor when choosing between ICICI Direct and Saxo Markets, directly affecting your bottom line as a trader. ICICI Direct has a lower barrier to entry with a minimum deposit of $0 (vs $6500 at Saxo Markets). Saxo Markets charges withdrawal fees while ICICI Direct does not, giving ICICI Direct an edge for frequent withdrawers. Both brokers charge inactivity fees on dormant accounts, worth noting if you trade infrequently. Overall, ICICI Direct scores higher on fees in our assessment.
| Feature | ICICI Direct | Saxo Markets |
|---|---|---|
| Min. Deposit | $0 | $6500 |
| Withdrawal Fees | No | Yes |
| Inactivity Fees | Yes | Yes |
| Deposit Fees | No | No |
| CFD Fees | No | No |
Platforms
ICICI Direct offers MT4, MT5, cTrader, while Saxo Markets supports MT4, MT5, cTrader. Both brokers provide mobile trading apps for iOS and Android. Both brokers support copy or social trading, catering to less hands-on investors. The two brokers are closely matched on platform offering.
| Feature | ICICI Direct | Saxo Markets |
|---|---|---|
| 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 | Mac, Web Trader, 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 Saxo Markets compare. ICICI Direct runs regular live webinars; Saxo Markets does not. Both provide video tutorials. ICICI Direct publishes daily market commentary; Saxo Markets does not. Both integrate third-party research tools. ICICI Direct maintains an archive of past webinars for on-demand viewing. ICICI Direct scores higher overall in education and research.
| Feature | ICICI Direct | Saxo Markets |
|---|---|---|
| Forex Education | No | Yes |
| CFD Education | Yes | No |
| Weekly Webinars | Yes | No |
| Daily Commentary | Yes | No |
| Trading Central | Yes | No |
| 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 Saxo Markets supports 2 (bank transfer, credit/debit card). Saxo Markets uniquely supports credit/debit card among the two brokers. Saxo Markets scores higher on deposit and withdrawal flexibility.
| Feature | ICICI Direct | Saxo Markets |
|---|---|---|
| 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 Saxo Markets offer live chat support. Both provide phone support. Email support is available at both brokers. ICICI Direct supports 13 languages and Saxo Markets supports 2, giving ICICI Direct broader global reach. Both brokers are comparable on support quality.
| Feature | ICICI Direct | Saxo Markets |
|---|---|---|
| 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 |