ICICI Direct
Westpac
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Overview
ICICI Direct was founded in 1994 and is headquartered in India, while Westpac was established in 2008 and is based in Austrailia. ICICI Direct holds licences including Securities and Exchange Board of India (SEBI), while Westpac is regulated by Financial Conduct Authority (FCA) among others. ICICI Direct serves 2,000,000+ clients worldwide; Westpac has 10,000+. The minimum deposit is $0 at ICICI Direct and $50 at Westpac.
| Feature | ICICI Direct | Westpac |
|---|---|---|
| Min. Deposit | $0 | $50 |
| Regulation | Securities and Exchange Board of India (SEBI), Member of the Bombay Stock Exchange | Financial Conduct Authority (FCA), Prudential Regulation Authority (PRA) |
| Founded | 1994 | 2008 |
| Country | India | Austrailia |
| Clients | 2,000,000+ | 10,000+ |
Fees
Fees are a critical factor when choosing between ICICI Direct and Westpac, directly affecting your bottom line as a trader. ICICI Direct has a lower barrier to entry with a minimum deposit of $0 (vs $50 at Westpac). Neither broker charges withdrawal fees. ICICI Direct applies inactivity fees on dormant accounts; Westpac does not. Westpac charges deposit fees; ICICI Direct does not. The two brokers are broadly comparable on fee structure.
| Feature | ICICI Direct | Westpac |
|---|---|---|
| Min. Deposit | $0 | $50 |
| Withdrawal Fees | No | No |
| Inactivity Fees | Yes | No |
| Deposit Fees | No | Yes |
| CFD Fees | No | No |
Platforms
ICICI Direct offers MT4, MT5, cTrader, while Westpac 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 | Westpac |
|---|---|---|
| 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 | Desktop,Mac,iPhone,Android,WEB |
Education & Research
Education and research tools help traders at every level make more informed decisions, and here's how ICICI Direct and Westpac 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. Westpac scores higher overall in education and research.
| Feature | ICICI Direct | Westpac |
|---|---|---|
| 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 Westpac supports 2 (bank transfer, credit/debit card). Westpac uniquely supports credit/debit card among the two brokers. Westpac scores higher on deposit and withdrawal flexibility.
| Feature | ICICI Direct | Westpac |
|---|---|---|
| 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 Westpac offer live chat support. Both provide phone support. Email support is available at both brokers. ICICI Direct supports 13 languages and Westpac supports 2, giving ICICI Direct broader global reach. Both brokers are comparable on support quality.
| Feature | ICICI Direct | Westpac |
|---|---|---|
| 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 |