It seems ICICI Direct span margin is 1.5 x margin required by other brokers like Zerodha. Why is this the case ? It’s quite disappointing as the website is quite unfriendly and no customer service is available on the phone nos mentioned ?? Look forward to hear on the same…also how to view the used margin for FnO on the website…
Iron condor for Oct 29, 15 lots PE 10800(sell), PE 10700 (buy) and CE 12300 (sell), CE 12 400 (buy) the margin is 11 lacs vs 6-7 lacs on Zerodha…ICICI Direct pls guide on such high margins ??
Any one has insight here ? Why is margin high in icici direct …it should be same as zerodha
Icici direct is a Full service broker, this is there full service in huge brokerage and no service, but they are full service brokers. Who trades with such companies even in today’s time I fail to understand.
@siva those brokerage who block margin over and above exchange requirements , do they earn interest on excess margin blocked over exchange requirements?
I doubt anyone would deal with them given high margins. They have reduced brokerage though…it’s now rs 20 per order + 5 per lot…quite disappointing as no one responds to queries on mail or phone…
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20 per order plus 5 rs per lot vs 20 for unlimited lots. I think I would choose only zerodha.
As per my understanding, there is no cash requirement for F&O trades in ICICI, since they use working capital. Only stock hedge is enough.
So for example, if you sell a option where let’s say Zerodha requires a margin of 1.5L & ICICI requires 2L. In case of Zerodha you will need to keep Rs. 75,000 as cash for overnight position, ICICI doesn’t need any cash only stock pledges are enough.
Yes there is no cash requirement but it hardly helps if margin is almost 2 X versus exchange requirements . This is for hedged strategies like Iron Condor…it’s shocking not sure what risk is getting mitigated with 2x margins
Also cash requirement in zerodha can be met through liquid funds . Icici provides no margin against MFs
I have been raising this for quite some time now.
But all has fallen to deaf ears until now.
ICICI Direct has been more like a Gormint Navratan company, it seems.
I earlier suspected that as they are still giving leverage hence to adjust funds available in pool margin, they are doing this.
But later find out even IBKR doing the same thing.
It seems there RMS babus still following policies from 1857, when there was no margin benefit for hedged positions and change in margin requirements was huge.
Now a days change in margin req will be more gradual and we get margin benefit as well.
But babus are unwilling to change.
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Does it mean at ICICI Direct besides having high margin the margin requirement may go up even faster based on mkt conditions…
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icicidirect platform is crap. No margin benifit and even extra margin for naked positions. UI is not comparable with even small scale discount brokers. Comparing icici with zerodha is like insulting zerodha’s platforms.
I used to trade with ICICI only for unlimited leverage it offers. But after Dec 1 this will stop, I think.
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