Upstox Demat & Trading Account vs ICICI Direct Demat & Trading Account— Detailed Comparison 2026
If you are deciding between Upstox Demat & Trading Account and ICICI Direct Demat & Trading Account, you are not alone — this is one of the most popular demat account comparisons in India. We have analyzed both products across all key parameters so you can see exactly how they stack up against each other.
Our Pick
Upstox Demat & Trading Account
Upstox
★★★★★4.2
Budget traders who want advanced charts without extra cost
ICICI Direct Demat & Trading Account
ICICI Direct
★★★★★4.2
Long-term investors who value research, advisory, and bank integration
Feature-by-Feature Comparison
| Feature | Upstox Demat & Trading Account | ICICI Direct Demat & Trading Account | Winner |
|---|---|---|---|
| Account Opening Charge | Free | Free | Tie |
| Annual Maintenance (AMC) | Free | ₹750 | Upstox |
| Equity Delivery Brokerage | Zero (free) | 0.55% of trade value | Tie |
| Equity Intraday Brokerage | Rs 20 per order or 0.05%, whichever is lower | 0.275% of trade value | Tie |
| Futures Brokerage | Rs 20 per order or 0.05%, whichever is lower | 0.05% of trade value or Rs 20/lot, whichever is higher | Tie |
| Options Brokerage | Rs 20 per order (flat) | Rs 95 per lot | Tie |
| Mutual Fund Commission | Zero — direct mutual funds | Zero on direct funds; regular funds available | Tie |
| Research Reports | ✘ | ✔ | ICICI Direct |
| Margin Trading | ✔ | ✔ | Tie |
| IPO Access | ✔ | ✔ | Tie |
| Mutual Funds | ✔ | ✔ | Tie |
| NFO Access | ✔ | ✔ | Tie |
| Best For | Budget traders who want advanced charts without extra cost | Long-term investors who value research, advisory, and bank integration | Tie |
| Overall Rating | ★★★★★4.2 | ★★★★★4.2 | Upstox |
Pros & Cons
Upstox Demat & Trading Account
+Advantages
- ✔Zero brokerage on equity delivery
- ✔Free account opening
- ✔Backed by Ratan Tata (investor)
- ✔Good charting tools and TradingView integration
- ✔Competitive F&O brokerage
−Disadvantages
- ✘App stability issues reported during volatility
- ✘Customer support can be slow
- ✘Limited research and advisory content
- ✘Platform not as polished as Zerodha Kite
ICICI Direct Demat & Trading Account
+Advantages
- ✔3-in-1 account (savings + demat + trading) with ICICI Bank
- ✔Excellent research and advisory
- ✔Robust and stable trading platform
- ✔Wide range of investment products
- ✔Strong customer support via ICICI branches
−Disadvantages
- ✘Higher brokerage — 0.55% on delivery trades
- ✘AMC of Rs 750/year
- ✘Not competitive for active F&O traders
- ✘Account opening charge of Rs 0 but AMC is high
Our Verdict: Upstox Demat & Trading Account vs ICICI Direct Demat & Trading Account
Both Upstox Demat & Trading Account and ICICI Direct Demat & Trading Account are equally rated at 4.2/5. Your choice should depend on specific features that matter most to you. Compare the individual specs above to decide which aligns better with your needs.
Frequently Asked Questions
Which is better — Upstox Demat & Trading Account or ICICI Direct Demat & Trading Account?▾
Both Upstox Demat & Trading Account and ICICI Direct Demat & Trading Account are rated equally at 4.2/5. The better choice depends on your individual needs and which specific features matter most to you.
What is the difference between Upstox Demat & Trading Account and ICICI Direct Demat & Trading Account?▾
Upstox Demat & Trading Account and ICICI Direct Demat & Trading Account differ in several key areas including pricing, features, and target audience. Upstox Demat & Trading Account is best for Budget traders who want advanced charts without extra cost, while ICICI Direct Demat & Trading Account is best for Long-term investors who value research, advisory, and bank integration. See the detailed comparison above for a feature-by-feature breakdown.
Is Upstox Demat & Trading Account worth it in 2026?▾
Upstox Demat & Trading Account carries a rating of 4.2/5 on IndiaBestProducts. It is considered a strong option in the Demat Account space. Review the pros and cons listed above to see if it matches your specific needs.
Is ICICI Direct Demat & Trading Account worth it in 2026?▾
ICICI Direct Demat & Trading Account has a rating of 4.2/5. It is recognized for its competitive features in the Demat Account category. Check the detailed specs above to determine if it suits your requirements.
Can I compare more than two demat account products?▾
Yes! Use our interactive comparison tool at /compare to compare up to 3 demat account products side by side. Select your preferred products and get an instant feature-by-feature comparison.
Read Full Reviews
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