ICICIdirect Executive Thank you for the query. W.r.t. your query, Access code is generated for ICICIdirect.com Mobile App. Once the first-time login for the day is done, you can use Access Code for trading for the subsequent logins of the day.
You have to register for Access Code. Steps to register Access Code:
1. Login with your full credentials (User ID, Password and Date of Birth or PAN) on ICICIdirect Mobile App from your device.
2. Trade & Invest > Access Code
3. Click on “Register Access Code” Tab > Enter your desired Access Code and click on Register. Access Code should be of 6 characters.
ICICIdirect Executive Thank you for the query. We would like to inform you that with MARGIN TRADING FUNDING (MTF ) you pay a small initial margin to buy stocks today and repay the balance amount in 365 days.
In order to buy stocks under margin products, a part of the amount needs to be paid initially. This amount is termed as Initial Margin. Margin differs across stocks and is different for different products. To view Initial and Minimum margin for any stock, visit Stock List page on www.icicidirect.com. You can estimate the margin amount by calculating it as a percentage of total position value. For example, if Mr. X buys 100 shares of ABC Ltd in Margin Trading at Rs.100 per share, the total value of his purchase becomes Rs. 10,000. If initial margin applicable on ABC Ltd is 30%, it means Mr.X will only have to pay Rs. 3000 to take position in this stock and will get 1 year to back the remaining Rs. 7000.
ICICIdirect Executive Thank you for the query. We would like to inform you that MarginPLUS is an intra day product having an order placement feature wherein you limit your loss on every position by necessarily placing a cover order specifying the SLTP and a limit price. The product also offers you an option to protect your gains by placing a cover profit order at a limit price which would get executed when your profit price has reached without you having to monitor the markets on a continuous basis.
FEATURES AND BENEFITS OF TRADING IN MARGIN PLUS:
> Limit your losses:
MarginPLUS allows you to place your intraday order and a mandatory stop loss order so that you can reduce your risks of intraday trading.
> Trail your stop loss:
MarginPLUS stop loss trailing feature enables you to manually trail your stop loss, while allowing you to lock-in your profits.
> Profit order:
MarginPLUS includes a Profit Order feature that allows you to define your minimum profit limit in advance.
> Cloud order:
With MarginPLUS, you can now save your frequently placed intra-day orders and save time during order placement. Orders saved in the cloud can be place anytime, in just a click.
ICICIdirect Executive Thank you for the query. We would like to inform you that with the introduction of Pledge Model in September 2020, it is now mandatory for customers to pledge their shares purchased under Margin Trading. Pledging is mandatory for creating limits against demat shares as well.