ICICI Direct Franchise vs Nirmal Bang Franchise – Compare Business Models, Revenue Sharing and more

Find 1st of its kind Comparison of ICICI Direct Franchise vs Nirmal Bang Franchise. In this comparison, you will find a detailed view of all the features of respecting sub broker or franchise brands.

ICICI Direct & Nirmal Bang are both Broking houses & provides sub brokership to their partners. Both of them have varied Business Models which we will discuss here.ICICI Direct Franchise vs Nirmal Bang Franchise - Comparison-min


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In this comparison, we will dig deep into all the aspects of both broking franchise brands. The major aspects that we will discuss are:

  • Overview
  • Customer Ratings
  • Business Models
  • Security Deposit or Initial Investment
  • Revenue Sharing or Commission
  • Infrastructure Requirement
  • Offers
  • Support
  • Brokerage Charges to Clients
  • Other Charges & Margin to Clients

With this detailed comparison we will have clear understanding of which Sub Brokership is better: ICICI Direct Sub Broker Program or Nirmal Bang Sub Broker Program.


Start this amazing comparison between ICICI Direct Sub BrokerNirmal Bang Sub Broker:

ICICI Direct Franchise vs Nirmal Bang Franchise – An Overview

Overview ICICI Direct Franchise Nirmal Bang Franchise
Company Type Public Private
Broker type Full Service Broker Full Service Broker
Headquarters Mumbai, India ‎Mumbai, India
Founder M K Sharma Rahul Arora, CEO
Established Year 1994 1986
SB Code Activation Time 14 Days 20-30 Days
Payout Time 30 Days 1 month

Customer Ratings of ICICI Direct Sub Broker & Nirmal Bang Sub Broker

Customer Ratings ICICI Direct Franchise Nirmal Bang Franchise
Experience 3.50 / 5 3.2/5
Services 4.00 / 5 3.1/5
Products 4.00 / 5 2.8/5
Trading Platforms 3.60 / 5 2.8/5
Support 3.50 / 5 3.5/5
Revenue Sharing Model 3.00 / 5 3.8/5
Security Deposit 2.50 / 5 3.8/5
Offers 2.50 / 5 3.1/5
Market Share 2.50 / 5 2.5/5
Overll Ratings 3.23 / 5 3.16
Star Ratings ★★★☆☆ ★★★☆☆

Compare Business Models of ICICI Direct Franchise & Nirmal Bang Franchise

Business Models ICICI Direct Franchise Nirmal Bang Franchise
Master Franchise S S
Sub Broker R R
Remisier R S
Referral Program S S

ICICI Direct Franchise vs Nirmal Bang Franchise Security Deposit Comparison

Security Deposit ICICI Direct Franchise Nirmal Bang Franchise
Master Franchise NA NA
Sub Broker 75000 – 200000 Rs 75,000 – 2 Lakhs
Remisier 25000 – 100000 NA
Referral Program NA NA

Nirmal Bang Franchise vs ICICI Direct Franchise Revenue Sharing Comparison

Revenue Sharing ICICI Direct Franchise Nirmal Bang Franchise
Master Franchise NA NA
Sub Broker 50% – 75% 50% – 70%
Remisier 30% – 75% NA
Referral Program NA NA

Nirmal Bang Sub Broker vs ICICI Direct Sub Broker Infra Requirement

Infrastructure Requirement ICICI Direct Franchise Nirmal Bang Franchise
Office Area Minimum 300 Sq Ft Minimum 200 Sq Ft
Employee Strength Minimum 5 Minimum 3
Research Services R R
Internet Connection R R
Trading Terminals R R
Telephone Lines R R

Compare ICICI Direct Partner & Nirmal Bang Partner Offers

Offers ICICI Direct Franchise Nirmal Bang Franchise
Zero Deposit S S
10k Initial Deposit S R
Flexible Revenue Sharing R R
Flat Revenue Sharing S S
Zero Revenue Sharing with Prepaid S S

Nirmal Bang Authorised Person vs ICICI Direct Authorised Person Support

Support ICICI Direct Franchise Nirmal Bang Franchise
Marketing Support R R
Back-Office Support R R
Trading Support R R
Advisory Support R S
Dealing Training S R
Acquisition Training S R
Product Training R R

Compare Brokerage Charges of ICICI Direct Franchise & Nirmal Bang Franchise

Brokerage Charges to Clients ICICI Direct Franchise Nirmal Bang Franchise
Equity Delivery 0.55% 0.2% or 20 paisa
Equity Intraday 0.03% – 0.05% 0.02% or 2 paisa
Equity Futures 0.03% – 0.05% 0.02% or 2 paisa
Equity Options Rs.35 – Rs.95 per Lot Rs 35 Per Lot
Currency Futures 0.03% – 0.05% 0.02% or 2 paisa
Currency Options Rs.10 – Rs.35 per Lot Rs 20 Per Lot
Commodity NA 0.02% or 2 paisa

ICICI Direct Partners & Nirmal Bang Partners Charges Comparison

Charges to Clients ICICI Direct Franchise Nirmal Bang Franchise
Demat AMC Rs.500 per Annum Rs 200 (Pro Rata)
Trading AMC Rs.975 per Annum Zero
Account Opening Charges Zero Zero
Transaction Charges 0.002800% Zero
Margin Money Minimum Rs.20,000 Rs.10,000

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