ICICI Web Trade receives good response - Views on News from Equitymaster

Helping You Build Wealth With Honest Research
Since 1996. Try Now

  • MyStocks

MEMBER'S LOGINX

     
Login Failure
   
     
   
     
 
 
 
(Please do not use this option on a public machine)
 
     
 
 
 
  Sign Up | Forgot Password?  

ICICI Web Trade receives good response

Mar 6, 2000

ICICI Web Trade–the Internet broking arm of the ICICI–has received more than 10,000 registrations for its web trading account. The company has fixed a commission of 0.85% or a minimum of Rs 150 for a delivery based transaction. Internet trading or e-broking as it is more popularly known refers to the system by which investors can trade in shares over the Internet. The movement of money and shares takes place electronically. The implementation of secure transaction systems and the flexibility offered by Internet trading have made it a rage in more developed markets like the US and Europe where it is estimated that orders over the Internet account for about 40-45% of trading volumes. South Asian countries like Japan and Korea have also jumped on the e-trading bandwagon.

We had mentioned in a story earlier that the most important implication would be in the fall of the brokerage rates themselves since the current brokerage rates vary between 0.25% to 1%. Only if one were to invest through a sub–broker who in turn has an account with the broker does the rate go up to 2.25%. In the same story we had mentioned that the rates that the ICICI plans to charge are on the higher side for the retail investor.

What has actually happened is that it is the sub–brokers who are using the ICICI facility to route their orders. This is because the smaller deals can be routed through the sub–broker at cheaper rates whereas when the sub–broker consolidates his clients orders and routes them through ICICI Web Trade he enjoys a discount for the larger trades.

Also at present, the facility is open for those deposit holders who have a bank account, a depository account with the ICCI Bank. This has also possibly limited the scope of the users to ICICI’s account holders.

However, the fact remains that if the response is any indication it could revolutionise the broking business in India. While the introduction of the screen based system heralded the first revolution (which ended the reign of the jobbers) Internet based trading could herald the second.


Equitymaster requests your view! Post a comment on "ICICI Web Trade receives good response". Click here!

  

More Views on News

ICICI BANK Announces Quarterly Results (1QFY21); Net Profit Up 36.2% (Quarterly Result Update)

Jul 30, 2020 | Updated on Jul 30, 2020

For the quarter ended June 2020, ICICI BANK has posted a net profit of Rs 26 bn (up 36.2% YoY). Sales on the other hand came in at Rs 199 bn (up 10.8% YoY). Read on for a complete analysis of ICICI BANK's quarterly results.

ICICI BANK Announces Quarterly Results (4QFY20); Net Profit Up 26.0% (Quarterly Result Update)

May 12, 2020 | Updated on May 12, 2020

For the quarter ended March 2020, ICICI BANK has posted a net profit of Rs 12 bn (up 26.0% YoY). Sales on the other hand came in at Rs 192 bn (up 11.0% YoY). Read on for a complete analysis of ICICI BANK's quarterly results.

Can the Nifty Fall to 10,200? (Fast Profits Daily)

Sep 24, 2020

The Nifty has reached an important support level today. If it breaks then we could see further downside.

How to Save Money by Exiting Stocks Before They Fall podcast (Views On News)

Sep 24, 2020

A penny saved is a penny earned. It doesn't matter where you enter. All that matter is where you exit. Watch this video to identify an opportune time to exit your investments and book profits.

ICICI Prudential ESG Fund: Aims for Sustainability (Outside View)

Sep 24, 2020

PersonalFN briefly explains the newly launched fund : ICICI Prudential ESG Fund.

More Views on News

Most Popular

How the 8-Year Cycle Can Help Identify Multibaggers (Fast Profits Daily)

Sep 11, 2020

This is how you can apply the greed and fear cycle in the market to pick stocks.

Why We Picked This Small-cap Stock for Our Hidden Treasure Subscribers (Profit Hunter)

Sep 17, 2020

This leading household brand will profit big time in a post covid world.

This Could Be the Best September for Auto Stocks (Profit Hunter)

Sep 11, 2020

Here's why I think this month could be a great for auto stocks.

What Do the Charts Say About Buying Smallcaps Now? (Fast Profits Daily)

Sep 18, 2020

Everyone seems to be excited about buying smallcaps now...but is it the right thing to do? What do the charts tell us? Find out in this video...

More

Covid-19 Proof
Multibagger Stocks

Covid19 Proof Multibaggers
Get this special report, authored by Equitymaster's top analysts now!
We will never sell or rent your email id.
Please read our Terms

ICICI BANK SHARE PRICE


Sep 24, 2020 02:36 PM

TRACK ICICI BANK

  • Track your investment in ICICI BANK with Equitymaster's Portfolio Tracker. Set live price alerts, get research alerts and more. Get access now...
  • Add To MyStocks

ICICI BANK - DEUTSCHE BANK COMPARISON

COMPARE ICICI BANK WITH

MARKET STATS