ICICI Direct Says It Has Crossed 1 Million In Online Trading Customer Base

ICICI Direct, the online trading arm of ICICI Bank, claims it has crossed 1 million online trading subscribers, and this makes, according to company officials, the largest online trading portal (Via The Economic Times). The report says that the total number of online trading customers (across all companies) is 1.9 million. So this gives more than 50 per cent market share to ICICI Direct.
A company official claimed that ICICI Direct was adding about 50,000 online subscribers per month, and it processes close to 350,000 transactions per day.
ICICI Direct’s advantage is that it can sell a trading account along with the bank account at no extra cost, and I am sure most of the new account holders could be opting for it. So that could be skewing up the numbers since other online trading companies like Sharekhan or Indiabulls don’t have this advantage. Now the big question is how many of ICICI Direct’s one million customers actually trade- at least once a year?
I searched for E*Trade and TD Ameritrade subscriber base details to verify if ICICI Direct would be the largest player in online trading globally, but couldn’t get their latest numbers.

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