Broker comparison
ICICI Direct vs IIFL Securities (2026): Brokerage, API, AMC & Execution Compared
Side-by-side comparison of ICICI Direct and IIFL Securities from published official pricing and features — no affiliation with either broker.
- 0 – 3Cheaper on example trades (ICICI Direct – IIFL Securities)
- 4 – 5Published features (of 9)
| Metric | ICICI Direct | IIFL Securities |
|---|---|---|
| Delivery brokerage | 0.29% per order on the default MoneySaver plan (lower on prepaid Prime plans) | 0.25% per order (Investor Plan - Online Plus, per official rate card) |
| Intraday brokerage | 0.029% per order on MoneySaver; ₹20 per order with an iValue subscription | 0.025% per order (Investor Plan - Online Plus) |
| F&O brokerage | MoneySaver: futures 0.029%, options ₹49 per lot; ₹20 per order with iValue | Futures 0.025% per order; options ₹25 per lot (Investor Plan - Online Plus) |
| AMC | ₹700 per year (₹300 for iVALUE subscribers) | Free first year, then ₹250 + GST per year |
| Account opening | ₹0 (free); 3-in-1 account with ICICI Bank | Free (₹0 online) |
| Trading API | Breeze API — Free (per official Breeze page) | IIFL Securities API |
| Reported execution speed | Not Disclosed | ≈ 95 ms (median) |
| Algo support | Yes - via Breeze API | Yes - via IIFL trading API |
| Platforms | ICICI Direct web, ICICI Direct Markets app, Trade Racer | IIFL Markets app, IIFL web (Trading Terminal), IIFL NEST desktop |
| Best for (published) | ICICI Bank customers who want research, advisory and one integrated account. | Investors who want a full-service broker with in-house research and wide product coverage. |
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 | IIFL Securities | Cheaper |
|---|---|---|---|
| Intraday: ₹1 lakh buy & sell | ₹104.55 | ₹95.06 | IIFL Securities (saves ₹9.49) |
| Delivery: ₹50,000 buy & sell | ₹491.09 | ₹441.53 | IIFL Securities (saves ₹49.56) |
| Options: premium ₹100 × 75 | Not modelled | Not modelled | - |
| Futures: ₹24,000 × 75 | ₹2,253.16 | ₹2,083.06 | IIFL Securities (saves ₹170.1) |
Illustrative quantities. Try your own trade in the compare-all brokerage calculator.
Feature check
| Feature | ICICI Direct | IIFL Securities |
|---|---|---|
| Free delivery | – | – |
| Zero AMC | – | – |
| Free API | ✓ | – |
| TradingView | – | – |
| MCX commodity | ✓ | ✓ |
| Mutual funds | ✓ | ✓ |
| IPO | – | ✓ |
| Research desk | ✓ | ✓ |
| Published speed | – | ✓ |
What the published data shows
IIFL Securities publishes an execution-speed figure; ICICI Direct does not on verifiable sources.
Tools & profiles
- ICICI Direct full profile
- IIFL Securities full profile
- ICICI Direct brokerage calculator
- IIFL Securities brokerage calculator
- Lowest brokerage brokers in India
- All broker comparisons
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- Groww vs IIFL Securities
Frequently asked questions
ICICI Direct vs IIFL Securities: 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 IIFL Securities as "0.25% per order (Investor Plan - Online Plus, per official rate card)". Plan-based or percentage pricing cannot always be reduced to a single winner — use the official pricing pages linked below.
Does ICICI Direct or IIFL Securities have a trading API?
Both have documented APIs at review time: ICICI Direct (Breeze API), IIFL Securities (IIFL Securities API). Compare pricing and rate limits on each broker's developer page.
Which is faster — ICICI Direct or IIFL Securities?
IIFL Securities publishes ≈ 95 ms (median). ICICI Direct has no verifiable execution-speed figure we could cite.
Is ICICI Direct cheaper than IIFL Securities?
On our four example trades (intraday, delivery, options and futures), ICICI Direct is cheaper on 0, IIFL Securities 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
- IIFL Securities - official website - https://www.iiflcapital.com
- IIFL Securities - official pricing - https://www.iiflcapital.com/brokerage-charges