Broker comparison
Zerodha vs ICICI Direct (2026): Brokerage, API, AMC & Execution Compared
Side-by-side comparison of Zerodha and ICICI Direct from published official pricing and features — no affiliation with either broker.
- 3 – 0Cheaper on example trades (Zerodha – ICICI Direct)
- 4 – 4Published features (of 9)
| Metric | Zerodha | ICICI Direct |
|---|---|---|
| Delivery brokerage | ₹0 (free) | 0.29% per order on the default MoneySaver plan (lower on prepaid Prime plans) |
| Intraday brokerage | ₹20 or 0.03% per order (whichever is lower) | 0.029% per order on MoneySaver; ₹20 per order with an iValue subscription |
| F&O brokerage | ₹20 per order (options); ₹20 or 0.03% per order for futures (whichever is lower) | MoneySaver: futures 0.029%, options ₹49 per lot; ₹20 per order with iValue |
| AMC | Free first year, then ₹300 + 18% GST per year, billed quarterly (non-BSDA; ₹0 for BSDA holdings under ₹4 lakh) | ₹700 per year (₹300 for iVALUE subscribers) |
| Account opening | Free (resident individuals); ₹500 for NRI | ₹0 (free); 3-in-1 account with ICICI Bank |
| Trading API | Kite Connect — Personal API free; Connect (live data + historical) ₹500/month | Breeze API — Free (per official Breeze page) |
| Reported execution speed | ≈ 80 ms (median) | Not Disclosed |
| Algo support | Yes - via Kite Connect API | Yes - via Breeze API |
| Platforms | Kite (web), Kite (mobile), Console, Coin | ICICI Direct web, ICICI Direct Markets app, Trade Racer |
| Best for (published) | Self-directed investors and traders who want low, predictable costs and a stable platform. | ICICI Bank customers who want research, advisory and one integrated account. |
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 | Zerodha | ICICI Direct | Cheaper |
|---|---|---|---|
| Intraday: ₹1 lakh buy & sell | ₹82.97 | ₹104.55 | Zerodha (saves ₹21.58) |
| Delivery: ₹50,000 buy & sell | ₹131.78 | ₹491.09 | Zerodha (saves ₹359.31) |
| Options: premium ₹100 × 75 | ₹66.43 | Not modelled | - |
| Futures: ₹24,000 × 75 | ₹1,067.15 | ₹2,253.16 | Zerodha (saves ₹1,186.01) |
Illustrative quantities. Try your own trade in the compare-all brokerage calculator.
Feature check
| Feature | Zerodha | ICICI Direct |
|---|---|---|
| Free delivery | ✓ | – |
| Zero AMC | – | – |
| Free API | – | ✓ |
| TradingView | – | – |
| MCX commodity | ✓ | ✓ |
| Mutual funds | ✓ | ✓ |
| IPO | – | – |
| Research desk | – | ✓ |
| Published speed | ✓ | – |
What the published data shows
Zerodha publishes free equity delivery; ICICI Direct does not (per official pricing at review). Zerodha publishes an execution-speed figure; ICICI Direct does not on verifiable sources.
Tools & profiles
- Zerodha full profile
- ICICI Direct full profile
- Zerodha brokerage calculator
- ICICI Direct brokerage calculator
- Lowest brokerage brokers in India
- All broker comparisons
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Frequently asked questions
Zerodha vs ICICI Direct: which has lower delivery brokerage?
At our last review, Zerodha published delivery brokerage as "₹0 (free)" and ICICI Direct as "0.29% per order on the default MoneySaver plan (lower on prepaid Prime plans)". Plan-based or percentage pricing cannot always be reduced to a single winner — use the official pricing pages linked below.
Does Zerodha or ICICI Direct have a trading API?
Both have documented APIs at review time: Zerodha (Kite Connect), ICICI Direct (Breeze API). Compare pricing and rate limits on each broker's developer page.
Which is faster — Zerodha or ICICI Direct?
Zerodha publishes ≈ 80 ms (median). ICICI Direct has no verifiable execution-speed figure we could cite.
Is Zerodha cheaper than ICICI Direct?
On our four example trades (intraday, delivery, options and futures), Zerodha is cheaper on 3, ICICI Direct on 0, 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
- Zerodha - official website - https://zerodha.com
- Zerodha - official pricing - https://zerodha.com/charges/
- ICICI Direct - official website - https://www.icicidirect.com
- ICICI Direct - official pricing - https://www.icicidirect.com/brokerage