Broker comparison
ICICI Direct vs Alice Blue (2026): Brokerage, API, AMC & Execution Compared
Side-by-side comparison of ICICI Direct and Alice Blue from published official pricing and features — no affiliation with either broker.
- 0 – 3Cheaper on example trades (ICICI Direct – Alice Blue)
- 4 – 5Published features (of 9)
| Metric | ICICI Direct | Alice Blue |
|---|---|---|
| Delivery brokerage | 0.29% per order on the default MoneySaver plan (lower on prepaid Prime plans) | ₹20 or 2.5% per order (whichever is lower) |
| Intraday brokerage | 0.029% per order on MoneySaver; ₹20 per order with an iValue subscription | ₹20 or 0.05% per order (whichever is lower) |
| F&O brokerage | MoneySaver: futures 0.029%, options ₹49 per lot; ₹20 per order with iValue | ₹20 per order (options); ₹20 or 0.05% per order for futures (whichever is lower) |
| AMC | ₹700 per year (₹300 for iVALUE subscribers) | ₹0 (zero AMC) |
| Account opening | ₹0 (free); 3-in-1 account with ICICI Bank | Free (online) |
| Trading API | Breeze API — Free (per official Breeze page) | ANT API — Free (per official page) |
| Reported execution speed | Not Disclosed | Not Disclosed |
| Algo support | Yes - via Breeze API | Yes - free ANT API; partnerships with algo platforms |
| Platforms | ICICI Direct web, ICICI Direct Markets app, Trade Racer | ANT Mobi, ANT Web |
| Best for (published) | ICICI Bank customers who want research, advisory and one integrated account. | Price-sensitive algo traders exploring beyond the biggest names. |
Statutory charges (STT, exchange fees, GST, etc.) are not included. Figures are from official pricing pages at our last review — verify before opening an account.
Cost face-off: what real trades cost
| Trade | ICICI Direct | Alice Blue | Cheaper |
|---|---|---|---|
| Intraday: ₹1 lakh buy & sell | ₹104.55 | ₹82.97 | Alice Blue (saves ₹21.58) |
| Delivery: ₹50,000 buy & sell | ₹491.09 | ₹178.98 | Alice Blue (saves ₹312.11) |
| Options: premium ₹100 × 75 | Not modelled | ₹66.43 | - |
| Futures: ₹24,000 × 75 | ₹2,253.16 | ₹1,067.15 | Alice Blue (saves ₹1,186.01) |
Illustrative quantities. Try your own trade in the compare-all brokerage calculator.
Feature check
| Feature | ICICI Direct | Alice Blue |
|---|---|---|
| Free delivery | – | – |
| Zero AMC | – | ✓ |
| Free API | ✓ | ✓ |
| TradingView | – | – |
| MCX commodity | ✓ | ✓ |
| Mutual funds | ✓ | ✓ |
| IPO | – | ✓ |
| Research desk | ✓ | – |
| Published speed | – | – |
What the published data shows
Both brokers publish comparable headline pricing fields at our last review. Use the table below and each broker's official pricing page — we do not pick a single "winner" from published data alone.
Tools & profiles
- ICICI Direct full profile
- Alice Blue full profile
- ICICI Direct brokerage calculator
- Alice Blue brokerage calculator
- Lowest brokerage brokers in India
- All broker comparisons
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Frequently asked questions
ICICI Direct vs Alice Blue: which has lower delivery brokerage?
At our last review, ICICI Direct published delivery brokerage as "0.29% per order on the default MoneySaver plan (lower on prepaid Prime plans)" and Alice Blue as "₹20 or 2.5% per order (whichever is lower)". Plan-based or percentage pricing cannot always be reduced to a single winner — use the official pricing pages linked below.
Does ICICI Direct or Alice Blue have a trading API?
Both have documented APIs at review time: ICICI Direct (Breeze API), Alice Blue (ANT API). Compare pricing and rate limits on each broker's developer page.
Which is faster — ICICI Direct or Alice Blue?
Neither broker publishes a verifiable execution-speed figure we could cite at review time.
Is ICICI Direct cheaper than Alice Blue?
On our four example trades (intraday, delivery, options and futures), ICICI Direct is cheaper on 0, Alice Blue on 3, and 0 are tied, with the rest not modelled from published pricing. Statutory charges are identical, so any difference comes from brokerage.
Are these comparisons independent?
Yes. Indian Broker Test is not affiliated with, sponsored by, or endorsed by any broker. Rankings and comparisons use only published official data; gaps are shown as Not Disclosed.
Sources
- ICICI Direct - official website - https://www.icicidirect.com
- ICICI Direct - official pricing - https://www.icicidirect.com/brokerage
- Alice Blue - official website - https://aliceblueonline.com
- Alice Blue - official pricing - https://aliceblueonline.com/pricing/