Broker comparison
ICICI Direct vs Kotak Neo (Kotak Securities) (2026): Brokerage, API, AMC & Execution Compared
Side-by-side comparison of ICICI Direct and Kotak Neo (Kotak Securities) from published official pricing and features — no affiliation with either broker.
- 0 – 3Cheaper on example trades (ICICI Direct – Kotak Neo (Kotak Securities))
- 4 – 6Published features (of 9)
| Metric | ICICI Direct | Kotak Neo (Kotak Securities) |
|---|---|---|
| Delivery brokerage | 0.29% per order on the default MoneySaver plan (lower on prepaid Prime plans) | 0.20% per order (Trade Free); 0.10% on Trade Free Pro (₹249/month) |
| Intraday brokerage | 0.029% per order on MoneySaver; ₹20 per order with an iValue subscription | ₹10 or 0.05% per order (whichever is lower) |
| F&O brokerage | MoneySaver: futures 0.029%, options ₹49 per lot; ₹20 per order with iValue | ₹10 per order (flat) |
| AMC | ₹700 per year (₹300 for iVALUE subscribers) | Not Disclosed |
| Account opening | ₹0 (free); 3-in-1 account with ICICI Bank | Free (online) |
| Trading API | Breeze API — Free (per official Breeze page) | Kotak Neo Trade API — Free (per official page) |
| Reported execution speed | Not Disclosed | ≈ 80 ms (median) |
| Algo support | Yes - via Breeze API | Yes - via Neo Trade API |
| Platforms | ICICI Direct web, ICICI Direct Markets app, Trade Racer | Kotak Neo app, Kotak Neo web, NEST terminal |
| Best for (published) | ICICI Bank customers who want research, advisory and one integrated account. | Kotak Bank customers wanting integrated broking with research. |
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 | Kotak Neo (Kotak Securities) | Cheaper |
|---|---|---|---|
| Intraday: ₹1 lakh buy & sell | ₹104.55 | ₹59.37 | Kotak Neo (Kotak Securities) (saves ₹45.18) |
| Delivery: ₹50,000 buy & sell | ₹491.09 | ₹379.58 | Kotak Neo (Kotak Securities) (saves ₹111.51) |
| Options: premium ₹100 × 75 | Not modelled | ₹42.83 | - |
| Futures: ₹24,000 × 75 | ₹2,253.16 | ₹1,043.55 | Kotak Neo (Kotak Securities) (saves ₹1,209.61) |
Illustrative quantities. Try your own trade in the compare-all brokerage calculator.
Feature check
| Feature | ICICI Direct | Kotak Neo (Kotak Securities) |
|---|---|---|
| Free delivery | – | – |
| Zero AMC | – | – |
| Free API | ✓ | ✓ |
| TradingView | – | – |
| MCX commodity | ✓ | ✓ |
| Mutual funds | ✓ | ✓ |
| IPO | – | ✓ |
| Research desk | ✓ | ✓ |
| Published speed | – | ✓ |
What the published data shows
Kotak Neo (Kotak Securities) publishes an execution-speed figure; ICICI Direct does not on verifiable sources.
Tools & profiles
- ICICI Direct full profile
- Kotak Neo (Kotak Securities) full profile
- ICICI Direct brokerage calculator
- Kotak Neo (Kotak Securities) brokerage calculator
- Lowest brokerage brokers in India
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Frequently asked questions
ICICI Direct vs Kotak Neo (Kotak 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 Kotak Neo (Kotak Securities) as "0.20% per order (Trade Free); 0.10% on Trade Free Pro (₹249/month)". Plan-based or percentage pricing cannot always be reduced to a single winner — use the official pricing pages linked below.
Does ICICI Direct or Kotak Neo (Kotak Securities) have a trading API?
Both have documented APIs at review time: ICICI Direct (Breeze API), Kotak Neo (Kotak Securities) (Kotak Neo Trade API). Compare pricing and rate limits on each broker's developer page.
Which is faster — ICICI Direct or Kotak Neo (Kotak Securities)?
Kotak Neo (Kotak Securities) publishes ≈ 80 ms (median). ICICI Direct has no verifiable execution-speed figure we could cite.
Is ICICI Direct cheaper than Kotak Neo (Kotak Securities)?
On our four example trades (intraday, delivery, options and futures), ICICI Direct is cheaper on 0, Kotak Neo (Kotak 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
- Kotak Neo (Kotak Securities) - official website - https://www.kotakneo.com
- Kotak Neo (Kotak Securities) - official pricing - https://www.kotakneo.com/pricing/