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Why Avoid ICICI-Direct Online Trading ?

July 28, 2008

We all know by now that ICICI Bank is one of the Worst Banks in Customer Service as well as QoS in every service that it provides. From Credit Cards to Online Trading, the bank’s management sucks and it is high time that the RBI and Finance Ministry and concerned authorities take stock of the situation before it gets out of control.

Today, I am writing to expose ICICI Direct Online Share Trading Platform. The day was July-23rd, a day after Trust vote when the markets surged. I tried to SELL some shares of HDFC Bank which I had bought earlier and ICICI Direct interface would not let me place the order and this is the error I got [see picture].
Avoid ICICI Direct Online Trading
This clearly shows that ICICI Direct has bug in their trading system. First, there is no circuit limit for HDFC Bank stock. Second, the timing I tried to execute the order was 23 minutes after the start of the trade [I can understand had it been just a minute, due to performance issues since ICICI Runs on Windows Infrastructure] Lastly, ICICI’s pathetically trained executives didn’t even have the god dam common courtesy to acknowledge my problem, they think they are the Architects of this system and say so confidently that “everything is working fine”.

Now, seriously tired of ICICI and will avoid henceforth.

Comments

7 Responses to “Why Avoid ICICI-Direct Online Trading ?”

  1. Marshal on August 4th, 2008 12:49 PM

    Am using ICICI demat online account for almost 3yrs (MF,IPO,Secondary mkt etc). I never had issue.. sometimes it becomes slow..otherwise am happy with it… i have heard very dreadful stories of other demat a/c like reliance money and all..

  2. Anonymous on August 6th, 2008 2:09 PM

    I am also using ICICIdirect for the last 2 years. In crunch times it never works – like when Sensex was circuit down. It gives similar errors to me as well. But I have heard of issues with other trading platforms as well.

  3. Anonymous on August 6th, 2008 11:25 PM

    I hears problems with other Trading platforms also. But with ICICI online bank/Trading , most of the times we have issues. The worst online trading i experienced with ICICI direct. Even i stopped trading for quite some time when i am abroad as i don’t have any other trading account.

  4. Anonymous on August 7th, 2008 7:43 PM

    Am using my ICICI Direct for the past 3 years.All the time some way or other there is some problem.Worst or No Customer service …CSR doesn’t know abt what they are talking and gravity of the situation.Never/ever i will recommend this ICICI direct to anyone.

  5. Sumit on August 10th, 2008 9:43 PM

    I am using ICICI direct for last three years and my experience is also very bad to say the least. I am planning to shift to 5paisa.com (perhaps lowest brokerage) soon. I agree all trading paltforms have problem, then why stick to one that charges most. I would rather pay low brokerage for poor services.

  6. Anonymous on August 13th, 2008 1:44 PM

    I am sure ICICI sucks. Is there a better online trading portal anyone knows?

  7. Anonymous on October 13th, 2008 3:55 PM

    Don’t ever go for this all FOOLS and IDIOTS run ICICIdirect. Sure you will loose your shirt. Such a worst portal I have ever seen.

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