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 Franchise vs Upstox Franchise

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.


Compare Sub Broker Franchise

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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

OverviewNirmal Bang FranchiseUpstox Franchise
Company TypePrivatePrivate
Broker typeFull Service BrokerFull Service Broker
Headquarters‎Mumbai, India‎Mumbai, India
FounderRahul Arora, CEORaghu Kumar, Ravi Kumar
Established Year1986
SB Code Activation Time20-30 Days15 Days
Payout Time1 month31 Days

Customer Ratings of Nirmal Bang Sub Broker & Upstox Sub Broker

Customer RatingsNirmal Bang FranchiseUpstox Franchise
Experience3.2/52.5/5
Services3.1/52.8/5
Products2.8/53.1/5
Trading Platforms2.8/52.7/5
Support3.5/52.8/5
Revenue Sharing Model3.8/53.1/5
Security Deposit3.8/53.3/5
Offers3.1/52.7/5
Market Share2.5/51.9/5
Overll Ratings3.162.8/5
Star Ratings★★★☆☆★★★☆☆

Compare Business Models of Nirmal Bang Franchise & Upstox Franchise

Business ModelsNirmal Bang FranchiseUpstox Franchise
Master FranchiseSS
Sub BrokerRR
RemisierSS
Referral ProgramSR

Nirmal Bang Franchise vs Upstox Franchise Security Deposit Comparison

Security DepositNirmal Bang FranchiseUpstox Franchise
Master FranchiseNANA
Sub BrokerRs 75,000 – 2 LakhsRs 25,000 – Rs 50,000
RemisierNANA
Referral ProgramNANA

Upstox Franchise vs Nirmal Bang Franchise Revenue Sharing Comparison

Revenue SharingNirmal Bang FranchiseUpstox Franchise
Master FranchiseNANA
Sub Broker50% – 70%10% – 30%
RemisierNANA
Referral ProgramNAGift Voucher

Upstox Sub Broker vs Nirmal Bang Sub Broker Infra Requirement

Infrastructure RequirementNirmal Bang FranchiseUpstox Franchise
Office AreaMinimum 200 Sq FtNot Required
Employee StrengthMinimum 3Not Required
Research ServicesRS
Internet ConnectionRS
Trading TerminalsRS
Telephone LinesRS

Compare Nirmal Bang Partner & Upstox Partner Offers

OffersNirmal Bang FranchiseUpstox Franchise
Zero DepositSS
10k Initial DepositRR
Flexible Revenue SharingRR
Flat Revenue SharingSS
Zero Revenue Sharing with PrepaidSS

Upstox Authorised Person vs Nirmal Bang Authorised Person Support

SupportNirmal Bang FranchiseUpstox Franchise
Marketing SupportRS
Back-Office SupportRR
Trading SupportRS
Advisory SupportSS
Dealing TrainingRR
Acquisition TrainingRS
Product TrainingRR

Compare Brokerage Charges of Nirmal Bang Franchise & Upstox Franchise

Brokerage Charges to ClientsNirmal Bang FranchiseUpstox Franchise
Equity Delivery0.2% or 20 paisaZero
Equity Intraday0.02% or 2 paisaRs. 20 per trade or 0.01%
Equity Futures0.02% or 2 paisaRs. 20 per trade or 0.01%
Equity OptionsRs 35 Per LotRs. 20 per trade or 0.01%
Currency Futures0.02% or 2 paisaRs. 20 per trade or 0.01%
Currency OptionsRs 20 Per LotRs. 20 per trade or 0.01%
Commodity0.02% or 2 paisaRs. 20 per trade or 0.01%

Nirmal Bang Partners & Upstox Partners Charges Comparison

Charges to ClientsNirmal Bang FranchiseUpstox Franchise
Demat AMCRs 200 (Pro Rata)Rs 150 (One Time)
Trading AMCZeroRs 150 (One Time)
Account Opening ChargesZeroZero
Transaction ChargesZero0.003250%
Margin MoneyRs.10,000Zero

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