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Website Down

ICICI Direct is one the most expensive brokerage sites. It charges almost 1% as brokerage, and 500/- p.a. to maintain an account and then on that of it, although NSE and BSE work on T + 2 system (the payment/share transfer happens 2 working days after the transaction date) ICICI wants all the shares/money upfront (even before the actual transaction happens)

I was living to all this crap thinking that since I do not transact very often, this high brokerage should not reduce my profitability much. If you charge premium prices, then give service worth it. But all you will get from ICICI is either very slow website or website down. Market (esp the midcaps are up today, but ICICI website was down all day. Hence I could not make the sale on time. 🙁

here is the snapshot of the most familiar page on ICICI-direct.

Luckily I do not indulge in Day trade or did not have any open futures contract, otherwise i cannot even imagine how big a fortune i would have lost.

11 replies on “Website Down”

@anon
actually a reliance money agent did approach me and I was surprised the brokerage he demanded was 1/5 of what icici charges, but still i was too lazy to switch. a mistake which i wll regret.

@prerna
i am sure there must be atleast 1-2 clause in the 30 page long agreement which would have said that ICICI does not guarentee that the website would be functional all the time.
but yesterday’s situation was pathetic… market crossed 20k, midcaps (which i had bought during diwali were up 30% or so) and to add to my woes… i am traveling today.. so the next opportunity i will get to trade would be on monday… thats like 4 years for a trader.

well icici again this must be ur zillionth post

nyways i hated icici direct as both their ptcost and their maintainance and their service and interphase were pathetic

how r religare and reliance money ?
i wouldnt mind having an account

after dealing with 5 paisa (the worst brokerage)
finding the interphase of indiabulls irrritating
fireing the hell out of an icici person for poor cust service for my uk friends moms account
and still thinking of retaining sharekhan whose ac
i have but dont use often but seems attractive because of the rates
Personally i prefer KOTAK securities the most as they are not as pricy as icici but their service is unmatched and their book keeping immaculate

u could seriously think kotak for a long term pf

//well icici again this must be ur zillionth post//
you can now understand how much they have harmed me… indias largest private lender has one of the shittiest service on earth. and the irony is that i have always maintained a buy position on ICICI. even did a post encouraging people to buy its stock.

//how r religare and reliance money ?//
u tell me.. i have no exposure.. but reliance money can save me over 80% in transaction charges alone which is a small fortune in itself.

hey can u mail me the details and charges about kotak… i seriously think that i should take my business elsewhere.

u seriously want to open an ac wt kotak

i wanted ur phone no to give to them

i know ur email address as it is clearly stated in ur blog 🙂

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