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 Franchise vs Nirmal Bang Franchise

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.


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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

OverviewICICI Direct FranchiseNirmal Bang Franchise
Company TypePublicPrivate
Broker typeFull Service BrokerFull Service Broker
HeadquartersMumbai, India‎Mumbai, India
FounderM K SharmaRahul Arora, CEO
Established Year19941986
SB Code Activation Time14 Days20-30 Days
Payout Time30 Days1 month

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

Customer RatingsICICI Direct FranchiseNirmal Bang Franchise
Experience3.50 / 53.2/5
Services4.00 / 53.1/5
Products4.00 / 52.8/5
Trading Platforms3.60 / 52.8/5
Support3.50 / 53.5/5
Revenue Sharing Model3.00 / 53.8/5
Security Deposit2.50 / 53.8/5
Offers2.50 / 53.1/5
Market Share2.50 / 52.5/5
Overll Ratings3.23 / 53.16
Star Ratings★★★☆☆★★★☆☆

Compare Business Models of ICICI Direct Franchise & Nirmal Bang Franchise

Business ModelsICICI Direct FranchiseNirmal Bang Franchise
Master FranchiseSS
Sub BrokerRR
RemisierRS
Referral ProgramSS

ICICI Direct Franchise vs Nirmal Bang Franchise Security Deposit Comparison

Security DepositICICI Direct FranchiseNirmal Bang Franchise
Master FranchiseNANA
Sub Broker75000 – 200000Rs 75,000 – 2 Lakhs
Remisier25000 – 100000NA
Referral ProgramNANA

Nirmal Bang Franchise vs ICICI Direct Franchise Revenue Sharing Comparison

Revenue SharingICICI Direct FranchiseNirmal Bang Franchise
Master FranchiseNANA
Sub Broker50% – 75%50% – 70%
Remisier30% – 75%NA
Referral ProgramNANA

Nirmal Bang Sub Broker vs ICICI Direct Sub Broker Infra Requirement

Infrastructure RequirementICICI Direct FranchiseNirmal Bang Franchise
Office AreaMinimum 300 Sq FtMinimum 200 Sq Ft
Employee StrengthMinimum 5Minimum 3
Research ServicesRR
Internet ConnectionRR
Trading TerminalsRR
Telephone LinesRR

Compare ICICI Direct Partner & Nirmal Bang Partner Offers

OffersICICI Direct FranchiseNirmal Bang Franchise
Zero DepositSS
10k Initial DepositSR
Flexible Revenue SharingRR
Flat Revenue SharingSS
Zero Revenue Sharing with PrepaidSS

Nirmal Bang Authorised Person vs ICICI Direct Authorised Person Support

SupportICICI Direct FranchiseNirmal Bang Franchise
Marketing SupportRR
Back-Office SupportRR
Trading SupportRR
Advisory SupportRS
Dealing TrainingSR
Acquisition TrainingSR
Product TrainingRR

Compare Brokerage Charges of ICICI Direct Franchise & Nirmal Bang Franchise

Brokerage Charges to ClientsICICI Direct FranchiseNirmal Bang Franchise
Equity Delivery0.55%0.2% or 20 paisa
Equity Intraday0.03% – 0.05%0.02% or 2 paisa
Equity Futures0.03% – 0.05%0.02% or 2 paisa
Equity OptionsRs.35 – Rs.95 per LotRs 35 Per Lot
Currency Futures0.03% – 0.05%0.02% or 2 paisa
Currency OptionsRs.10 – Rs.35 per LotRs 20 Per Lot
CommodityNA0.02% or 2 paisa

ICICI Direct Partners & Nirmal Bang Partners Charges Comparison

Charges to ClientsICICI Direct FranchiseNirmal Bang Franchise
Demat AMCRs.500 per AnnumRs 200 (Pro Rata)
Trading AMCRs.975 per AnnumZero
Account Opening ChargesZeroZero
Transaction Charges0.002800%Zero
Margin MoneyMinimum Rs.20,000Rs.10,000

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