Broker comparison
ICICI Direct vs Shoonya (Finvasia) (2026): Brokerage, API, AMC & Execution Compared
Side-by-side comparison of ICICI Direct and Shoonya (Finvasia) from published official pricing and features — no affiliation with either broker.
| Metric | ICICI Direct | Shoonya (Finvasia) |
|---|---|---|
| Delivery brokerage | Plan-based - see official brokerage page (flat ₹20 plans available) | ₹0 (zero brokerage, per official site) |
| Intraday brokerage | Plan-based - flat ₹20 per order on current flat-fee plans | ₹0 (zero brokerage, per official site) |
| F&O brokerage | Plan-based - flat ₹20 per order on current flat-fee plans | ₹0 (zero brokerage, per official site) |
| AMC | ₹700 per year (₹300 for iVALUE subscribers) | ₹0 |
| Account opening | ₹0 (free); 3-in-1 account with ICICI Bank | Free (online) |
| Trading API | Breeze API — See official Breeze API page | Shoonya API — Free (per official page) |
| Reported execution speed | Not Disclosed | ≈ 140 ms (median) |
| Algo support | Yes - via Breeze API | Yes - free API |
| Platforms | ICICI Direct web, ICICI Direct Markets app, Trade Racer | Shoonya app, Shoonya web, Shoonya desktop |
| Best for (published) | ICICI Bank customers who want research, advisory and one integrated account. | High-frequency, cost-obsessed traders who accept a smaller platform. |
Statutory charges (STT, exchange fees, GST, etc.) are not included. Figures are from official pricing pages at our last review — verify before opening an account.
What the published data shows
Shoonya (Finvasia) publishes free equity delivery; ICICI Direct does not (per official pricing at review). Shoonya (Finvasia) publishes an execution-speed figure; ICICI Direct does not on verifiable sources.
Tools & profiles
- ICICI Direct full profile
- Shoonya (Finvasia) full profile
- ICICI Direct brokerage calculator
- Shoonya (Finvasia) brokerage calculator
- Lowest brokerage brokers in India
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Frequently asked questions
ICICI Direct vs Shoonya (Finvasia): which has lower delivery brokerage?
At our last review, ICICI Direct published delivery brokerage as "Plan-based - see official brokerage page (flat ₹20 plans available)" and Shoonya (Finvasia) as "₹0 (zero brokerage, per official site)". Plan-based or percentage pricing cannot always be reduced to a single winner — use the official pricing pages linked below.
Does ICICI Direct or Shoonya (Finvasia) have a trading API?
Both have documented APIs at review time: ICICI Direct (Breeze API), Shoonya (Finvasia) (Shoonya API). Compare pricing and rate limits on each broker's developer page.
Which is faster — ICICI Direct or Shoonya (Finvasia)?
Shoonya (Finvasia) publishes ≈ 140 ms (median). ICICI Direct has no verifiable execution-speed figure we could cite.
Are these comparisons independent?
Yes. Indian Broker Test is not affiliated with, sponsored by, or endorsed by any broker. Rankings and comparisons use only published official data; gaps are shown as Not Disclosed.
Sources
- ICICI Direct - official website - https://www.icicidirect.com
- ICICI Direct - official pricing - https://www.icicidirect.com/brokerage
- Shoonya (Finvasia) - official website - https://shoonya.com
- Shoonya (Finvasia) - official pricing - https://shoonya.com/pricing