ICICI Direct introduces 'pay when you profit' scheme

Plan offered on stop loss-based intra-day Nifty derivatives contracts

Leading online brokerage ICICI Direct today introduce 'pay when you profit' scheme, I-Gain, for stop loss-based trades on Nifty derivatives contract.

"I-Gain is a 'pay only when you profit' derivative brokerage scheme that enables the customer to pay brokerage only when he makes profit. In case the customer trade incurs a loss, no brokerage is charged," said ICICI Securities, which runs the trading portal ICICIdirect.com, in a release.

ICICI Securities said that an analysis done of its 3.2 million customers showed that retail clients "tend to sell winning investments while holding on to their losing investments."

Vishal Gulechha, head - equity product group, ICICI Securities said I-Gain plan will help customers to take a decision to exit positions purely based on his view about the market.