Frequently Asked Questions

5

Who all can invest in global markets through ICICI Direct Global?

This facility is currently available for Resident, Corporates and NRIs.

Who all can invest in global markets through ICICI Direct Global?

This facility is currently available for Resident, Corporates and NRIs.

How can one transfer money to invest out of India?

ICICI Securities gets you a seamless way to transfer money through your ICICI Bank account under Liberalised Remittance Scheme (LRS) guidelines. To transfer, simply visit link available on Global Investment page after your ICICI Direct Global account is opened. Current limit for this online transfer is US$ 25,000. For amount exceeding this you may reach out to your ICICI Securities relationship manager.

Which international exchanges can I invest in?

As of now, you can invest in six major global markets: US, UK, Germany, Japan, Singapore & Hong Kong.

Is there any minimum investment or balance required?

There is no minimum investment or balance required although we do recommend you fund your account to the extent required as there is no margin funding possibility on global markets as per RBI’s regulations

How much can an individual invest in global markets from India?

Foreign investments fall under RBI guidelines for remittance which is called Liberalized Remittance Scheme (LRS). As per current LRS limits, an individual can remit abroad up to USD 250,000 every year. This full amount can be utilized for investment in global markets.

What are fractional shares?

Fractional shares allow you to buy a dollar value of a stock irrespective of its price. This means that you can own a fraction of a share in a stock on the US markets! Basically, if a stock is too expensive because each share is costing a lot, just buy a small fraction of the stock.

Who is the executing and clearing broker?

Interactive Brokers LLC is the broker that executes and clears your trades, ICICI Securities is an introducing broker to Interactive Brokers.

Interactive Brokers is a US based brokerage firm with USD 8.1 billion in equity capital as of June 2020. The company is listed on the NASDAQ. As of June 2020, Interactive Brokers has over USD 203 billion in client equity.

How can I verify ownership of the shares?

When you go to the global market page i.e. the client portal, you will be able to download your statement which will show you the holdings currently on the account as well as all transactions done in the past.

Do I get access to any research reports?

Yes, you get free access to research reports by Zacks and Reuters stock reports plus. In addition, you get free access to Reuters Fundamental data and Reuters news on the trading platform.

Where is my investing account held? Who holds my shares? Who is the custodian of my account?

Your investing account is opened with our partner platform Interactive Brokers LLC - regulated by FINRA and SEC in US. Interactive Brokers is also the executing and clearing broker as well as a global custodian.

Will I be able to use my margins to buy these shares?

Margin trading or leverage of any sort is not permissible per RBI regulations on global markets for Indian residents.

What is the timeframe for settlement?

Settlement cycle is T+2 for US equities and ETF’s.

Can I also invest in IPOs in these exchanges?

US IPO’s are currently not supported for Indian residents.

Is my ICICI Direct and ICICI Direct Global account cross marginable? Can I move money between the two accounts?

No, this is not possible at this moment.

What happens if Interactive Brokers goes bankrupt? How am I protected? Is there any Insurance protection?

Indian residents can only open a cash account, no leverage, no margin trading is permitted at all. Client-owned, fully-paid securities are protected in accounts at depositories and custodians that are specifically identified for the exclusive benefit of clients. IBKR reconciles positions in securities owned by clients daily to ensure that these securities have been received at the depositories and custodians. In addition, every customer is protected by the Securities and Investment Protection Council Insurance (SIPC insurance) by up to USD 500,000 split as USD 250,000 in cash and USD 250,000 in stocks.

How long does it take to deposit and withdraw my money?

Generally, it takes anywhere between 1-4 business days, normally, funds arrive and are sent back within 24 hours.

Is there a custody fee?

No, there is no custody fee applicable on your account as of today

How do I download my reports?

Go to the ICICI Direct Global client portal. Once you login on the top left there is a menu option, click on that, select reports and then select statements. You can choose your statement download method (PDF / Excel / HTML) and a period (Daily, custom date range, annually, etc.).

I placed an order but I am not sure if the order has gone through

Please look at the pending orders under your orders and trades tab once you are in the ICICI Global portal.

I would like to create watchlists, how can I do this?

Once you are authenticated on the ICICI Direct Global portal, click on the widget which says ‘watchlist’, there is a little blue arrow on the top right, select it and it will open up the watch list for your account.

How much does it cost for market data?

You get free access to US unconsolidated real time market data.

How do I place a trade?

Access the watch list and next to the symbol you will see a bid and an ask. Click the ask to buy and the bid to sell. Once you do this, you can enter your quantity, price and order type and submit the order.

Can I scan the market for top gainers / losers and more?

Yes, we provide a market scanner which allows you to scan the market to see top gainers, top losers, most active and many more types of filters. Click the menu once you are in the ICICI Direct Global Portal and select scanners and then market scanner.

What is the portfolio analyst?

The portfolio analyst is an advanced investment analysis tool for sophisticated investors which allows you to consolidate, track and analyse your complete financial performance. You can look at benchmark comparisons of your portfolios performance, performance attribution reports, performance of your account and more. You can also add external accounts to your portfolio analyst tool for accounts held at other brokers to look at a consolidated view of your overall portfolio and it’s performance.

What is the commission charged on the ICICIdirect Global Platform?

Stocks:

For Indian Residents:

	Global Classic - 0	Global Select - 999	Global Advantage - 9999
United States*	USD 2.75 per order	USD 1.99 per order	ZERO

Click here to know pricing for other markets

For Non-Resident Indians:

	Global Classic - 0	Global Advantage - 9999
United States*	USD 0.02 per share, subject to a minimum of USD 2.75 per order	USD 0.01 per share, subject to a minimum of USD 1.5 per order

Click here to know pricing for other markets

^*For US Equities and ETFs only & for orders below 10,000 shares or USD 100,000 order value in a single order. Over that will be charged USD 0.005 per share extra On Close or On Open US listed stock orders exceeding 10% of an account's monthly US stock trading volume will be charged USD 0.005 per share extra. Market orders placed prior to regular trading hours will be treated as Market On Open orders and count towards client threshold.

Additional transaction fees on Sell orders:

• For Stocks, ETF, Warrants, Rights, Voting Trust Certificates: USD 0.0000221^* Value of Aggregate Sales
• FINRA Trading Activity Fee - USD 0.000119^* Quantity Sold (Maximum USD 5.95 per trade. In the case of partial executions, each execution is considered one trade)