ICICI direct Business Partner

What ICICI direct Business Partner does

ICICI Direct is the retail trading and investment services brand of ICICI Securities Limited, a publicly listed Indian financial services company incorporated in 1995 (CIN L67120MH1995PLC086241) and headquartered at ICICI Venture House, Prabhadevi, Mumbai. The platform, accessed via icicidirect.com and a companion mobile app, enables retail individual investors in India to trade equities and derivatives across NSE, BSE, Metropolitan Stock Exchange, and MCX, and to invest in mutual funds, insurance products, fixed deposits and bonds, Portfolio Management Services (PMS), NPS, IPOs, and tax-related offerings. The underlying technology stack is a web-based trading and investment platform with a mobile app that supports QR-code login, OTP-based authentication, virtual keyboard for credential security, and WhatsApp integration for one-way and two-way customer communications and transaction alerts.

The business operates under multiple SEBI registrations: Stock Broker (INZ000183631), Investment Adviser (INA000000094), and Research Analyst (INH000000990), and holds a Composite Corporate Agent License (CA0113) for insurance distribution. Revenue is generated from three core streams: (i) transaction-based brokerage on equities, derivatives, and margin trading subject to SEBI-prescribed limits; (ii) distribution and referral commissions on non-exchange-traded products such as mutual funds, insurance, FDs/bonds, PMS, NPS, and IPO applications; and (iii) equity research delivered as a value-added service to broking clients. Go-to-market is product-led/self-serve digital, with paperless online account opening, mobile app onboarding, and customer acquisition embedded in ICICI Bank's retail banking workflow as a core distribution advantage. Pricing is not publicly disclosed and is bounded by SEBI-prescribed brokerage caps. Customer segments are primarily retail individual investors with a secondary use-case segment of existing ICICI Bank savings account holders targeted via cross-sell.

Name

ICICI direct Business Partner

Legal name

ICICI Securities Limited

Website

https://secure.icicidirect.com

Company type

Public

Founded year

1995

Operating status

Operating

Headcount range

101–250 employees

Short description

ICICI Direct, operated by ICICI Securities Limited, is a SEBI-regulated online retail trading and investment platform serving Indian retail investors with equities, derivatives, mutual funds, insurance, NPS, and IPO services, distributed primarily through ICICI Bank's customer base.

Ownership category

akta.pro rank

Product category

Retail Brokerage & Investment Services

NAICS

Investment Banking and Securities Intermediation (523150), Securities and Commodity Contracts Intermediation and Brokerage (5231), Portfolio Management and Investment Advice (523940)

SIC

Security Brokers, Dealers & Flotation Companies (6211), Security & Commodity Brokers, Dealers, Exchanges & Services (6200)

akta.pro primary industry

Equities Trade Execution Platforms (ATS/MTF/ECN) (FSAFANAA)

akta.pro secondary industry

Equity Capital Introduction & Prime Services (FSACAFAK)

Keywords

• Retail brokerage services
• Online trading platform
• Investment distribution
• Equity research
• Mutual fund distribution

Headquarters

HQ city

Mumbai

HQ country

India

HQ region

Asia

Offices1 record

Markets served

GTM type

B2C

Offering type

Services

Cost components

Technology or R&D, Personnel, Marketing or Sales, Operations, Infrastructure

Revenue model

1. Brokerage Fees: Transaction-based brokerage fees for equity trading, margin trading, and other exchange-traded products. Brokerage is subject to SEBI prescribed limits.
2. Distribution Revenue: Revenue from distribution of non-exchange traded products including Mutual Funds, Insurance, Fixed Deposits/Bonds, Portfolio Management Services (PMS), NPS, and IPO applications. ICICI Securities acts as distributor/referral agent.
3. Research Services: Equity research services provided as value-added benefit to broking clients. SEBI-registered Research Analyst (Registration No: INH000000990).

Go-to-market motion1 record

Distribution channels4 records

Marketing channels4 records

Core offering

ICICI Direct is an online retail trading and investment platform operated by ICICI Securities Limited that enables individual investors to trade equities and derivatives across NSE, BSE, MSE, and MCX, and to invest in mutual funds, insurance, fixed deposits/bonds, portfolio management services (PMS), national pension system (NPS), IPO applications, and tax-related products. The platform is delivered via the icicidirect.com website, a mobile application with QR code login, and WhatsApp-based customer communications, and serves as a SEBI-registered Investment Adviser and Research Analyst.

Product overview

ICICI Direct is a comprehensive online trading and investment platform operated by ICICI Securities. The core product suite includes the ICICI Direct website platform for retail trading, the ICICI Direct Mobile App for on-the-go access, and WhatsApp-based customer communication services. The platform enables trading across multiple exchanges (NSE, BSE, Metropolitan Stock Exchange, MCX) and offers investment products including mutual funds, insurance, fixed deposits, bonds, PMS, tax services, NPS, and IPOs. The platform provides multiple authentication methods including QR code login, OTP verification, and traditional user ID/password login.

Differentiator

Problem solved

Functional benefit

Products and services

• Equity and Derivatives Trading Account Online trading account enabling retail investors to trade equities and derivatives across NSE, BSE, Metropolitan Stock Exchange, and MCX, with margin trading facilities subject to SEBI Circular CIR/MRD/DP/54/2017.
• ICICI Direct Mobile App Mobile application enabling retail investors to access trading, investments, and account services on mobile devices, with QR-code-based login to the web platform.
• ICICI Direct WhatsApp Services Customer communication and notification service delivered through WhatsApp providing portfolio valuation, stock quotes, order details, trade alerts, and two-way query handling for ICICI Direct customers.
• Mutual Fund Distribution Distribution of mutual fund products to retail investors through the ICICI Direct platform, with ICICI Securities acting as distributor/referral agent.
• Insurance Distribution Distribution of insurance products under ICICI Securities' Composite Corporate Agent License No. CA0113, with the company acting as a referral agent and not underwriting risk.
• Fixed Deposits and Bonds Distribution Distribution of fixed deposits and bond products to retail investors through the ICICI Direct platform, with ICICI Securities acting as distributor/referral agent.
• Portfolio Management Services (PMS) Distribution of Portfolio Management Services to retail investors seeking managed wealth solutions through the ICICI Direct platform.
• National Pension System (NPS) Distribution Distribution of National Pension System (NPS) products to retail investors for retirement planning through the ICICI Direct platform.
• IPO Application Services Retail IPO application services enabling customers to apply for initial public offerings through the ICICI Direct platform, with ICICI Securities acting as distributor/referral agent.
• Equity Research Services SEBI-registered equity research services (Registration No. INH000000990) provided as a value-added benefit to broking clients to support informed investment decisions.
• Tax Services Tax-related services offered to retail investors through the ICICI Direct platform as part of the non-exchange-traded product suite.

Segments2 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature3 records

Partnerships

One partnership is on record.

• ICICI BankcoreStrategic or Co-development PartnerICICI Direct is a subsidiary/channel of ICICI Securities. ICICI Bank customers are targeted for cross-selling of trading and investment services. The platform allows linking of ICICI Bank savings accounts for trading and uses ICICI Bank net banking for password reset functionality.

Scale indicators3 records

Recent moves5 records

Expansion highlights5 records

Direct peers

• Angel One: Listed Indian retail broker offering trading in equities, derivatives, commodities, and mutual funds. Directly comparable in product breadth, customer segment, and SEBI-regulated broker-dealer model.
• Upstox: Retail stockbroker offering equity, derivatives, and mutual fund trading through its app-based platform. Competes head-to-head with ICICI Direct on the discount-online-broker dimension and similar customer segment.
• Groww: Mobile-first retail broker and investment platform in India offering equities, mutual funds, and IPOs. Closely comparable given its digital-only onboarding, mutual-fund-led distribution model, and primary retail investor focus.
• 5paisa: Discount retail broker offering equity, derivatives, MF, and insurance via a digital platform. Comparable to ICICI Direct in its multi-product platform and SEBI-regulated execution services.
• Zerodha: India's largest discount broker and direct competitor to ICICI Direct, serving retail investors with equity, derivatives, and mutual fund offerings via a digital-first platform. Highly comparable on product scope and self-serve digital distribution model.
• Sharekhan: Established Indian retail broker combining online trading with branch-led advisory. Comparable to ICICI Direct on product suite (equities, MFs, derivatives, IPOs) and retail-investor targeting.

Broad incumbents

• Axis Direct: Bank-affiliated retail brokerage from Axis Bank offering trading, mutual funds, and investment advisory. Comparable to ICICI Direct in integrated bank-driven distribution and SEBI-registered brokerage model.
• HDFC Securities: Bank-affiliated retail broker subsidiary of HDFC Bank offering trading, investment, and research services. Highly comparable as an established bank-led competitor with similar integrated distribution leverage.
• Kotak Securities: Bank-affiliated retail broker subsidiary of Kotak Mahindra Bank offering equity, derivatives, and MF distribution. Comparable to ICICI Direct as a bank-parented, multi-product retail brokerage with similar regulatory footprint.
• Motilal Oswal Financial Services: Full-service Indian broker-dealer offering trading, wealth management, PMS, and distribution. Comparable to ICICI Direct in multi-product breadth and equity research-led positioning; serves a broader HNI segment.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks5 records

Key highlights6 records

Customer concentration

• LinkedInlinkedin.com/company/icici-direct-business-partner

Compliance8 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles4 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about ICICI direct Business Partner