Broker comparison
ICICI Direct vs Shoonya (Finvasia) (2026): Brokerage, API, AMC & Execution Compared
Side-by-side comparison of ICICI Direct and Shoonya (Finvasia) from published official pricing and features — no affiliation with either broker.
- 0 – 3Cheaper on example trades (ICICI Direct – Shoonya (Finvasia))
- 4 – 6Published features (of 9)
| Metric | ICICI Direct | Shoonya (Finvasia) |
|---|---|---|
| Delivery brokerage | 0.29% per order on the default MoneySaver plan (lower on prepaid Prime plans) | ₹0 (free equity delivery) |
| Intraday brokerage | 0.029% per order on MoneySaver; ₹20 per order with an iValue subscription | ₹5 or 0.03% per order (whichever is lower) |
| F&O brokerage | MoneySaver: futures 0.029%, options ₹49 per lot; ₹20 per order with iValue | ₹5 per order (options); ₹5 or 0.03% per order for futures (whichever is lower) |
| AMC | ₹700 per year (₹300 for iVALUE subscribers) | ₹0 (individuals; ₹900 for corporate, trust and LLP accounts) |
| Account opening | ₹0 (free); 3-in-1 account with ICICI Bank | Free (online) |
| Trading API | Breeze API — Free (per official Breeze page) | Shoonya API — Free (per official page) |
| Reported execution speed | Not Disclosed | ≈ 140 ms (median) |
| Algo support | Yes - via Breeze API | Yes - free API |
| Platforms | ICICI Direct web, ICICI Direct Markets app, Trade Racer | Shoonya app, Shoonya web, Shoonya desktop |
| Best for (published) | ICICI Bank customers who want research, advisory and one integrated account. | High-frequency, cost-obsessed traders who accept a smaller platform. |
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 | Shoonya (Finvasia) | Cheaper |
|---|---|---|---|
| Intraday: ₹1 lakh buy & sell | ₹104.55 | ₹47.57 | Shoonya (Finvasia) (saves ₹56.98) |
| Delivery: ₹50,000 buy & sell | ₹491.09 | ₹131.78 | Shoonya (Finvasia) (saves ₹359.31) |
| Options: premium ₹100 × 75 | Not modelled | ₹31.03 | - |
| Futures: ₹24,000 × 75 | ₹2,253.16 | ₹1,031.75 | Shoonya (Finvasia) (saves ₹1,221.41) |
Illustrative quantities. Try your own trade in the compare-all brokerage calculator.
Feature check
| Feature | ICICI Direct | Shoonya (Finvasia) |
|---|---|---|
| Free delivery | – | ✓ |
| Zero AMC | – | ✓ |
| Free API | ✓ | ✓ |
| TradingView | – | – |
| MCX commodity | ✓ | ✓ |
| Mutual funds | ✓ | ✓ |
| IPO | – | – |
| Research desk | ✓ | – |
| Published speed | – | ✓ |
What the published data shows
Shoonya (Finvasia) publishes free equity delivery; ICICI Direct does not (per official pricing at review). Shoonya (Finvasia) publishes an execution-speed figure; ICICI Direct does not on verifiable sources.
Tools & profiles
- ICICI Direct full profile
- Shoonya (Finvasia) full profile
- ICICI Direct brokerage calculator
- Shoonya (Finvasia) brokerage calculator
- Lowest brokerage brokers in India
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Frequently asked questions
ICICI Direct vs Shoonya (Finvasia): 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 Shoonya (Finvasia) as "₹0 (free equity delivery)". Plan-based or percentage pricing cannot always be reduced to a single winner — use the official pricing pages linked below.
Does ICICI Direct or Shoonya (Finvasia) have a trading API?
Both have documented APIs at review time: ICICI Direct (Breeze API), Shoonya (Finvasia) (Shoonya API). Compare pricing and rate limits on each broker's developer page.
Which is faster — ICICI Direct or Shoonya (Finvasia)?
Shoonya (Finvasia) publishes ≈ 140 ms (median). ICICI Direct has no verifiable execution-speed figure we could cite.
Is ICICI Direct cheaper than Shoonya (Finvasia)?
On our four example trades (intraday, delivery, options and futures), ICICI Direct is cheaper on 0, Shoonya (Finvasia) 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
- Shoonya (Finvasia) - official website - https://shoonya.com
- Shoonya (Finvasia) - official pricing - https://shoonya.com/pricing