ICICI Securities today announced the launch bullet trade on www.icicidirect.com, a brokerage plan where customers will pay zero brokerage for trades squared off in 5 minutes.
Bullet trade brokerage scheme is the first of its kind scheme where customers trading in derivatives will pay no brokerage for their 5 minutes trades. ICICI Securities is the first brokerage house in India to offer such a unique facility to its customers. This scheme is available with Life time prepaid brokerage plan offered by ICICIdirect.
A large body of empirical research was conducted by ICICI Securities over 10 years across its 3.5 million customers to understand the emerging trading behavior of traders.
We have been consistently using big data analytics to get a deep understanding of customer behaviour. We have observed that there is 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. This kind of disciplined trading without being emotionally attached to the trading position results in overall better experience while trading in derivatives.
It has been our aim to protect the interests of our customers and fostering a disciplined approach using technology and products. In an online world, customer is glued to his positions and small movements are enough if capitalised. At times opportunity is small and for very short term. If customer takes into account brokerage element, it may become unprofitable proposition and such opportunities are left un-capitalized.
We believe that the Bullet trade will help our retail customers trade in a disciplined manner. They can benefit with very small movements now. This scheme will also attract a wide segment of jobbers who dont have to pay any brokerage and can trade at the convenience of their homes. said Mr. Vishal Gulechha, Head ndash; Equity.
ICICI Securities has always been at the forefront in launching innovative products and brokerage schemes many of which have been the first of its kind in India. Some of them are Order level fixed brokerage plan in options namely I-Gain brokerage plan, Option 195 , Life time prepaid scheme, Margin Plus for day traders, Valid Till Cancelled order where the order remains valid for 45 days and Systematic Equity Plan (SEP) in stocks.
About ICICI Securities
ICICI Securities is one of the largest integrated securities firms in India covering the needs of corporate and retail customers through investment banking, institutional broking, retail broking and financial product distribution businesses. ICICIdirect.com has over 3.9 million customers and is a leading player in online and offline financial product distribution.