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

Find 1st of its kind Comparison of Zerodha 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.

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


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

Zerodha Franchise vs Nirmal Bang Franchise – An Overview

Overview Zerodha Franchise Nirmal Bang Franchise
Company Type Private Private
Broker type Discount Broker Full Service Broker
Headquarters Bangalore, India ‎Mumbai, India
Founder Nithin Kamath Rahul Arora, CEO
Established Year 2010 1986
SB Code Activation Time 3 Days 20-30 Days
Payout Time 45 Days 1 month

Customer Ratings of Zerodha Sub Broker & Nirmal Bang Sub Broker

Customer Ratings Zerodha Franchise Nirmal Bang Franchise
Experience 2.50 / 5 3.2/5
Services 2.60 / 5 3.1/5
Products 4.00 / 5 2.8/5
Trading Platforms 4.10 / 5 2.8/5
Support 2.50 / 5 3.5/5
Revenue Sharing Model 2.00 / 5 3.8/5
Security Deposit 4.50 / 5 3.8/5
Offers 4.00 / 5 3.1/5
Market Share 2.00 / 5 2.5/5
Overll Ratings 3.13 / 5 3.16
Star Ratings ★★★☆☆ ★★★☆☆

Compare Business Models of Zerodha Franchise & Nirmal Bang Franchise

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

Zerodha Franchise vs Nirmal Bang Franchise Security Deposit Comparison

Security Deposit Zerodha Franchise Nirmal Bang Franchise
Master Franchise NA NA
Sub Broker NA Rs 75,000 – 2 Lakhs
Remisier 11000 NA
Referral Program 1500 NA

Nirmal Bang Franchise vs Zerodha Franchise Revenue Sharing Comparison

Revenue Sharing Zerodha Franchise Nirmal Bang Franchise
Master Franchise NA NA
Sub Broker NA 50% – 70%
Remisier 10% – 30% NA
Referral Program 0.1 NA

Nirmal Bang Sub Broker vs Zerodha Sub Broker Infra Requirement

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

Compare Zerodha Partner & Nirmal Bang Partner Offers

Offers Zerodha Franchise Nirmal Bang 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

Nirmal Bang Authorised Person vs Zerodha Authorised Person Support

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

Compare Brokerage Charges of Zerodha Franchise & Nirmal Bang Franchise

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

Zerodha Partners & Nirmal Bang Partners Charges Comparison

Charges to Clients Zerodha Franchise Nirmal Bang Franchise
Demat AMC Rs.300 per Annum Rs 200 (Pro Rata)
Trading AMC Zero Zero
Account Opening Charges Rs.300 Zero
Transaction Charges 0.00325% Zero
Margin Money Zero Rs.10,000

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