₹750 total per referral, ₹10,000 monthly cap

ICICIDirect Referral Code

Q: How much does ICICIdirect pay per referral?

Up to ₹750. You get ₹250 when the referred friend opens and activates their demat and trading account, and ₹500 more when they place a trade in equity, F&O or commodities within 30 days of opening. Pages quoting ₹500 are describing only the second tranche.

Q: Why did I only receive ₹250?

Because your friend has not traded yet, or traded too late. The ₹500 second tranche requires a trade in equity, F&O or commodities within 30 days of account opening. It is very common to open a broker account and not trade for months, and that costs the larger half of the reward.

Q: Is there a limit on ICICIdirect referral earnings?

Yes — a maximum of ₹10,000 in referral rewards per month. That is the most generous ceiling among the major broker referral programs and only binds people referring at real volume.

Q: Do I need an ICICIdirect account to refer someone?

Yes. You must be an ICICIdirect customer to participate in the refer-and-earn program.

Q: How does this compare with other broker referrals?

Favourably. ICICIdirect pays cashback, where IIFL issues a gift voucher that expires within 60 days, Aditya Birla Money credits your trading account rather than paying out, and Motilal Oswal takes up to 60 days to pay and requires a ₹1,000 margin transfer first.

Q: Is the ICICIdirect referral available outside India?

No. The program is valid for residents of India only.

₹250 on account opening plus ₹500 on their first trade

ICICIdirect is ICICI Securities' broking platform for equity, derivatives and commodities. Its referral pays ₹250 when a referred friend opens a demat and trading account and ₹500 more when they place a first trade within 30 days.

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Genie Says

ICICIdirect pays ₹750 per referral, not ₹500 — ₹250 when the friend opens and activates a demat and trading account, and ₹500 more when they place a first trade within 30 days. Capped at ₹10,000 a month and paid as cashback, it has the best terms of the major broker referral programs.

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₹250 when the referred friend opens and activates the account, plus ₹500 when they place a first trade — ₹750 in totalper successful referral*

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How to Use an ICICIDirect Referral Code

Share your ICICIdirect referral link

You must be an ICICIdirect customer yourself. Rewards are capped at ₹10,000 in any month.

Friend opens and activates the account

This alone earns you ₹250 — unlike several competing broker programs where an inactive account pays nothing.

They trade within 30 days

Equity, F&O or commodities. This releases the remaining ₹500, and the window is where most of the value is lost.

₹750 in total

Paid as cashback rather than vouchers or trading credit — the most straightforward payout among the broker programs here.

Reward Details

Your Reward: Account-opening benefits per the campaign live at the time
Referrer Reward: ₹250 when the referred friend opens and activates the account, plus ₹500 when they place a first trade — ₹750 in total
Minimum Purchase: A trade in the equity, F&O or commodities segment releases the second tranche
Validity: The first trade must be placed within 30 days of account opening
Available In: India
Referral Limit: Maximum ₹10,000 in referral rewards per month
Payout Time: First tranche after account activation; second after the qualifying trade
Eligibility: You must be an ICICIdirect customer to refer. Residents of India only.

Why Choose ICICIDirect?

It is ₹750, not ₹500

₹250 for the account opening plus ₹500 for the first trade. The opening tranche is missing from almost every page describing this program.

Thirty days to place a trade

It is completely normal to open a broker account and not trade for months. That entirely reasonable behaviour costs you the larger ₹500 half.

The best terms of the broker set

₹10,000 monthly cap and paid as cashback — against IIFL's expiring vouchers, Aditya Birla's trading-account credit and Motilal Oswal's 60-day wait.

About ICICIDirect

ICICIdirect's referral is worth half as much again as this page used to say, and it is the most generous of the broker programs we have looked at. The catch is a thirty-day trading window.

ICICIdirect pays ₹750 for a fully successful referral, not the ₹500 this page previously advertised. It arrives in two parts and the first one was missing entirely.

You receive ₹250 when the person you referred opens and activates their demat and trading account. You receive a further ₹500 when they place a trade in the equity, F&O or commodities segment within 30 days of that account opening. So the account opening alone is worth something — unlike several competing broker programs where an unfunded, untraded account pays nothing at all.

The thirty-day window is where the larger half is lost. Broker account opening involves KYC, verification and funding, and it is entirely normal for someone to complete all of that and then not place a trade for a couple of months while they work out what they are doing. That is a perfectly sensible way to approach investing and it costs you ₹500. If you refer someone, mention the window — not to rush them into a trade they should not make, but so they know the clock exists.

The monthly ceiling is ₹10,000, which is high enough that it only binds people referring at serious volume. Among the broker referrals we have looked at, it is the most generous cap and the most straightforward payout: ICICIdirect pays cashback rather than the gift vouchers IIFL issues, the trading-account credit Aditya Birla Money uses, or the sixty-day wait Motilal Oswal imposes.

You must be an ICICIdirect customer yourself to refer anyone, and the program is for residents of India.

The standard caveat applies here as on every brokerage page. ₹750 is not a reason for anyone to open a trading account. Brokerage rates, platform quality and whether trading is appropriate for them at all matter enormously more. Refer people who were already going to open an account, and do not encourage a trade purely to unlock a window.