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

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

ICICI Direct & Upstox 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 Upstox 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 Upstox Sub Broker Program.


Start this amazing comparison between ICICI Direct Sub BrokerUpstox Sub Broker:

ICICI Direct Franchise vs Upstox Franchise – An Overview

Overview ICICI Direct Franchise Upstox Franchise
Company Type Public Private
Broker type Full Service Broker Full Service Broker
Headquarters Mumbai, India ‎Mumbai, India
Founder M K Sharma Raghu Kumar, Ravi Kumar
Established Year 1994
SB Code Activation Time 14 Days 15 Days
Payout Time 30 Days 31 Days

Customer Ratings of ICICI Direct Sub Broker & Upstox Sub Broker

Customer Ratings ICICI Direct Franchise Upstox Franchise
Experience 3.50 / 5 2.5/5
Services 4.00 / 5 2.8/5
Products 4.00 / 5 3.1/5
Trading Platforms 3.60 / 5 2.7/5
Support 3.50 / 5 2.8/5
Revenue Sharing Model 3.00 / 5 3.1/5
Security Deposit 2.50 / 5 3.3/5
Offers 2.50 / 5 2.7/5
Market Share 2.50 / 5 1.9/5
Overll Ratings 3.23 / 5 2.8/5
Star Ratings ★★★☆☆ ★★★☆☆

Compare Business Models of ICICI Direct Franchise & Upstox Franchise

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

ICICI Direct Franchise vs Upstox Franchise Security Deposit Comparison

Security Deposit ICICI Direct Franchise Upstox Franchise
Master Franchise NA NA
Sub Broker 75000 – 200000 Rs 25,000 – Rs 50,000
Remisier 25000 – 100000 NA
Referral Program NA NA

Upstox Franchise vs ICICI Direct Franchise Revenue Sharing Comparison

Revenue Sharing ICICI Direct Franchise Upstox Franchise
Master Franchise NA NA
Sub Broker 50% – 75% 10% – 30%
Remisier 30% – 75% NA
Referral Program NA Gift Voucher

Upstox Sub Broker vs ICICI Direct Sub Broker Infra Requirement

Infrastructure Requirement ICICI Direct Franchise Upstox Franchise
Office Area Minimum 300 Sq Ft Not Required
Employee Strength Minimum 5 Not Required
Research Services R S
Internet Connection R S
Trading Terminals R S
Telephone Lines R S

Compare ICICI Direct Partner & Upstox Partner Offers

Offers ICICI Direct Franchise Upstox 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

Upstox Authorised Person vs ICICI Direct Authorised Person Support

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

Compare Brokerage Charges of ICICI Direct Franchise & Upstox Franchise

Brokerage Charges to Clients ICICI Direct Franchise Upstox Franchise
Equity Delivery 0.55% Zero
Equity Intraday 0.03% – 0.05% Rs. 20 per trade or 0.01%
Equity Futures 0.03% – 0.05% Rs. 20 per trade or 0.01%
Equity Options Rs.35 – Rs.95 per Lot Rs. 20 per trade or 0.01%
Currency Futures 0.03% – 0.05% Rs. 20 per trade or 0.01%
Currency Options Rs.10 – Rs.35 per Lot Rs. 20 per trade or 0.01%
Commodity NA Rs. 20 per trade or 0.01%

ICICI Direct Partners & Upstox Partners Charges Comparison

Charges to Clients ICICI Direct Franchise Upstox Franchise
Demat AMC Rs.500 per Annum Rs 150 (One Time)
Trading AMC Rs.975 per Annum Rs 150 (One Time)
Account Opening Charges Zero Zero
Transaction Charges 0.002800% 0.003250%
Margin Money Minimum Rs.20,000 Zero

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