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

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

Nirmal Bang & Upstox are both Broking houses & provides sub brokership to their partners. Both of them have varied Business Models which we will discuss here.Nirmal Bang 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: Nirmal Bang Sub Broker Program or Upstox Sub Broker Program.


Start this amazing comparison between Nirmal Bang Sub Broker & Upstox Sub Broker:

Nirmal Bang Franchise vs Upstox Franchise – An Overview

Overview Nirmal Bang Franchise Upstox Franchise
Company Type Private Private
Broker type Full Service Broker Full Service Broker
Headquarters ‎Mumbai, India ‎Mumbai, India
Founder Rahul Arora, CEO Raghu Kumar, Ravi Kumar
Established Year 1986
SB Code Activation Time 20-30 Days 15 Days
Payout Time 1 month 31 Days

Customer Ratings of Nirmal Bang Sub Broker & Upstox Sub Broker

Customer Ratings Nirmal Bang Franchise Upstox Franchise
Experience 3.2/5 2.5/5
Services 3.1/5 2.8/5
Products 2.8/5 3.1/5
Trading Platforms 2.8/5 2.7/5
Support 3.5/5 2.8/5
Revenue Sharing Model 3.8/5 3.1/5
Security Deposit 3.8/5 3.3/5
Offers 3.1/5 2.7/5
Market Share 2.5/5 1.9/5
Overll Ratings 3.16 2.8/5
Star Ratings ★★★☆☆ ★★★☆☆

Compare Business Models of Nirmal Bang Franchise & Upstox Franchise

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

Nirmal Bang Franchise vs Upstox Franchise Security Deposit Comparison

Security Deposit Nirmal Bang Franchise Upstox Franchise
Master Franchise NA NA
Sub Broker Rs 75,000 – 2 Lakhs Rs 25,000 – Rs 50,000
Remisier NA NA
Referral Program NA NA

Upstox Franchise vs Nirmal Bang Franchise Revenue Sharing Comparison

Revenue Sharing Nirmal Bang Franchise Upstox Franchise
Master Franchise NA NA
Sub Broker 50% – 70% 10% – 30%
Remisier NA NA
Referral Program NA Gift Voucher

Upstox Sub Broker vs Nirmal Bang Sub Broker Infra Requirement

Infrastructure Requirement Nirmal Bang Franchise Upstox Franchise
Office Area Minimum 200 Sq Ft Not Required
Employee Strength Minimum 3 Not Required
Research Services R S
Internet Connection R S
Trading Terminals R S
Telephone Lines R S

Compare Nirmal Bang Partner & Upstox Partner Offers

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

Upstox Authorised Person vs Nirmal Bang Authorised Person Support

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

Compare Brokerage Charges of Nirmal Bang Franchise & Upstox Franchise

Brokerage Charges to Clients Nirmal Bang Franchise Upstox Franchise
Equity Delivery 0.2% or 20 paisa Zero
Equity Intraday 0.02% or 2 paisa Rs. 20 per trade or 0.01%
Equity Futures 0.02% or 2 paisa Rs. 20 per trade or 0.01%
Equity Options Rs 35 Per Lot Rs. 20 per trade or 0.01%
Currency Futures 0.02% or 2 paisa Rs. 20 per trade or 0.01%
Currency Options Rs 20 Per Lot Rs. 20 per trade or 0.01%
Commodity 0.02% or 2 paisa Rs. 20 per trade or 0.01%

Nirmal Bang Partners & Upstox Partners Charges Comparison

Charges to Clients Nirmal Bang Franchise Upstox Franchise
Demat AMC Rs 200 (Pro Rata) Rs 150 (One Time)
Trading AMC Zero Rs 150 (One Time)
Account Opening Charges Zero Zero
Transaction Charges Zero 0.003250%
Margin Money Rs.10,000 Zero

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