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ICICI launches plan with zero brokerage for derivative trades
The scheme, first of its kind in India, is available with life-time pre-paid brokerage plan offered by ICICI Direct.
Updated : Mar 20, 2018, 05:19 AM IST
 "ICICI Bank")
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ICICI Securities on Tuesday launched a scheme where customers trading in derivatives will not have to pay any brokerage for trades squared off in 5 minutes.
The scheme, first of its kind in India, is available with life-time pre-paid brokerage plan offered by ICICI Direct, the brokerage firm said in a statement.
The move will help the ICICI Securities' retail customers to trade in a disciplined manner.
"They (customers) can benefit with very small movements now. This scheme will also attract a wide segment of jobbers who do not have to pay any brokerage and can trade at the convenience of their homes," ICICI Securities Head (equity) Vishal Gulechha said.
An empirical research was conducted by ICICI Securities over 10 years across its 3.5 million customers to understand the emerging trading behaviour of traders.
"We have observed there is a trend emerging where customers are quickly entering and exiting trades in a disciplined manner. They are making their moves in small movements of their stocks, underlying contracts," Gulechha said.
"This kind of disciplined trading without being emotionally attached to the trading position results in overall better experience while trading in derivatives," he added.
