Nirmal Bang Sub Broker / Franchise / Partner Review

Nirmal Bang Sub Broker program is a leading franchisor with more than 3000 franchisees around the country. It launched the partner association model quite many years ago and now has built up a strong network of sub brokers.

Top Business Model Sub Broker
Revenue Sharing 50% – 70%
Security Deposit Rs.75,000 – Rs.200,000
Become Sub Broker in 20-30 Days
Receive Payout in 1 month
Founder Nirmal Bang
Established Year 1986

Let’s have a detailed Nirmal Bang Franchise Review. Along with this, we will illustrate Nirmal Bang Sub broker offers, Nirmal bang Franchise revenue sharing models, Nirmal bang Partner security deposit requirement & other important elements of Nirmal bang broking franchise.

Nirmal Bang Securities Franchise Offers

Nirmal Bang Franchise Customer Ratings

Nirmal Bang Franchise
Experience 3.20
Services 3.00
Products 2.80
Trading Platforms 2.80
Support 3.50
Revenue Sharing Model 3.80
Security Deposit 3.80
Offers 3.00
Market Share 2.50
Overall 3.16

Compare Sub Broker Franchise


Type of Nirmal Bang Franchise

Nirmal Bang has only one business association model which is the most basic and simple association model. It is like a typical partnership wherein the sub-broker/franchise gets into a partnership agreement with Nirmal Bang.

Nirmal Bang Franchise is not known for any Master Franchise or Referral Program. It only provides one business model:

  • Sub Broker / Authorised Person

In this partnership model, the organization provides all the services that they offer to the partners. And the partners can provide them to their clients.

Therefore, to maintain such an exclusive relationship, the organization seeks partners who have a good experience in the field of BFSI, stock market, and mutual funds.

The revenue sharing is also fair, thus, becoming a partner with Nirmal Bang will be beneficial for every interested party.

Become a Sub Broker with Angel Broking – Just Fill up the form

    Become a Sub Broker
    1. Become Sub Broker

    Nirmal Bang Sub Broker / Authorised Person

    Since it offers a partnership, it expects the candidate to have a good experience in the field of financial market – be it stock market, mutual funds, bank, insurance, assurance etc.

    In other words, it can be said that it is relevant only for the well-versed and well-established candidates who wish to get associated with this brand name.

    A beginner might not be preferred by Nirmal Bang house as it will not have the expertise to do justice to the partnership firm and might not be deserving of the revenue ratio that Nirmal Bang offers.

    Nirmal Bang Sub Broker Commission or Revenue Sharing Model

    nirmal bang sub brokerAs mentioned above, this broking house only offers a partnership model, hence the revenue ratio is always close to 50:50.

    This is because it expects the candidate to get the expertise whereas the brand is lent by it.

    It appreciates the value addition that the expert would make to the business and hence shares 50% of the revenue unlike in the case of any other sub-broker wherein there is no partnership but just an association.

    Check out Revenue Sharing of other Sub Brokers

    Sushil Finance Sub Broker Kotak Securities Sub Broker Prabhudas Lilladher Sub Broker
    ICICI Direct Sub Broker Motilal Oswal Sub Broker Profitmart Sub Broker
    IIFL Sub Broker Angel Broking Sub Broker Sharekhan Sub Broker

    Nirmal Bang Franchise Cost or Security Deposit Amount

    Being a part of a partnership venture, one will obviously have to fetch in the requisite initial investment. Though it does not prescribe any minimum investment amount, however, the same may range from INR 50,000 to INR 2.5 lacs.

    Further, a certain part of this investment is towards the refundable security deposit. This deposit is generally refunded in case where the sub-broker shuts the business association. The balance amount can be used by the sub-broker to set up its front office which again is a mandate from Nirmal Bang.

    Here is Security Deposit info of other Stock Broking Franchise

    SMC Sub Broker Alice Blue Sub Broker Axis Direct Sub Broker
    5Paisa Sub Broker Anand Rathi Sub Broker Edelweiss Sub Broker
    Aditya Birla Money Sub Broker Asit C Mehta Sub Broker Geojit Finance Sub Broker

    Nirmal Bang Sub Broker Offers

    Nirmal Bang provides the following offers to its sub-brokers:

    • Reduced brokerage rates;
    • Cashback on brokerages;
    • Increased credit limit;
    • Increased credit period;
    • Reduced margin money;
    • Reduced deposits

    Check out other companies Sub Broker Offers

    Hdfc Securities Sub Broker Karvy Sub Broker Religare Securities Sub Broker
    Indiabulls Ventures Sub Broker Paytm Money Sub Broker SAMCO Securities Sub Broker
    JM Financial Sub Broker Reliance Securities Sub Broker SBICap Securities Sub Broker

    How to become Sub Broker of Nirmal Bang?

    One needs to follow these steps for becoming a sub-broker with Nirmal Bang:

    1st Step – Fill in the lead form available here

    2nd Step – Accept call from our executive for verification of details and interest in sub-brokership

    3rd Step – call the Sales representative of Nirmal Bang for a personal meet

    4th Step – Meet with Sales Representative for a detailed discussion, understanding the expectations, agreeing to the terms, and resolving other concerns

    5th Step – Submit the requisite Documents & Initial Investment proofs

    6th Step – Verification of documents by ICICI Direct

    7th Step – Activation of account

    This may take up 3-6 working days depending upon the turnaround time taken by each party.

    Documents Required for Nirmal Bang sub broker registration

    • Identity Proof
    • DOB proof
    • Address proof
    • Academic Certificate
    • Employment/experience proof
    • Canceled cheque or Bank statement
    • Registration certificate with SEBI/Stock exchange
    • Passport size photos
    • Infrastructure proof
    • PAN Card
    • Aadhaar Card

    Why Partner with Nirmal Bang?

    Key highlights of Nirmal Bang are:

    • Brand Name
    • Trusted organization
    • Part of the pioneer group
    • Growing organization
    • Large product profile
    • Selective sub-brokers implying higher revenue

    Support provided by Nirmal Bang Partner Program

    • Assistance in setting up the front office
    • Dedicated onboarding manager
    • Assistance in client acquisition
    • Training sessions to access the trading platforms
    • Access to research reports
    • Assistance in advising the clients
    • Aggressive customer support team

    Nirmal Bang Franchise Eligibility Criteria

    The following are the criteria that you need to fulfill to set up a Nirmal Bang Franchise.

    • Should have a minimum of 1-2 years of experience working in the field of the stock market. Being a sub-broker or main broker can act as an added advantage for getting selected among other applicants.
    • If you are registering as a partnership firm or an individual, it is important to have a clean slate and a good track record. Having a good reputation in the market will help in making a tighter-knit network.
    • Alongside the needed infrastructure, you will also have to make a small initial investment to ensure stable business growth.
    • Keep a look out for any circular, as Nirmal Bang can add more requirements to the list of criteria.

    Infrastructure Investment by Nirmal Bang Sub Brokers / Authorized Person

    Now that it is clear what the Nirmal Bank sub-broker model is and what criteria need to be fulfilled to be able to get selected, it is time to identify the needed infrastructure to run this model.

    1. A minimum staff/team of 3 members.
    2. An effective trading terminal for all transactions.
    3. A stable and strong internet connection to avoid any kind of disruptions amidst any operations.
    4. A well-connected telephone line for active communication with clients and staff members. This is also an important requirement to ensure proper customer service.
    5. Resources to provide in-depth research reports to clients.
    6. There is no restriction on the office space, however, to be able to provide proper services with a staff of 3, a minimum space of 200 sq. ft. is needed.

    Nirmal Bang Franchise Registration

    To become a sub-broker with Nirmal Bang, you will be needed to follow the following procedure:

    1. The first step is to fill out the lead form.
    2. The second step constitutes waiting for a call from Nirmal Bang’s executive to confirm details and answer a few questions related to your interest in sub-brokership.
    3. Post the confirmation call, the sales representative will reach out again to schedule a call for a face-to-face meeting to discuss every aspect of the partnership.
    4. Have a detailed chat with them and make sure to understand all the requirements and expectations of the position. It is best to not leave any topic untouched.
    5. After the initial level of selection, proceed to submit all the documents starting from identity proof to the initial investment requirement.
    6. The last and final step is to wait for the confirmation of the account activation.

    Nirmal Bang Franchise – Pros & Cons

    Nirmal Bang Franchise is a well-balanced organization with a good number of advantages and minimal disadvantages. They are listed below:


    1. Provide sub-brokers and workers with training programs to help grow the business.
    2. Receive free consulting advice from professionals daily.
    3. A specialized sub-broker help desk that offers all types of service assistance.
    4. Online fund transfer feature available. makes it easier for both sub-broker and clients to make monetary transactions.
    5. Aggressive and robust customer service model.
    6. Selective sub-brokers indicate increased income.


    1. Unlike other brokerage firms in the business, you only have one variety of partnership models to choose from.
    2. Its revenue-sharing arrangement is not the best in the market.
    3. Tough eligibility criteria

    Earning the potential of a Nirmal Bang Partner / ROI

    Earning potential in the Nirmal Bang Business Partner program is reasonable when compared to most other trading platforms. The broker agrees to a 50:50 split.

    They are more inclined towards a complete half-half distribution of revenue, however, you as a partner can negotiate income sharing if you deliver additional high-quality clients to the broker.

    Nirmal Bang Authorised Person – Products Offered

    Here’s the list of products offered by a Nirmal Bang authorized person.

    1. NSE-Currency
    2. BSE-Currency
    3. NSE-Cash
    4. BSE-Cash
    5. MCX-Commodities
    6. NCDEX-Commodities
    7. NSE F&O
    8. IPO
    9. Mutual Fund
    10. NSDL (Depository Participant)
    11. CDSL (Depository Participant)

    Brokerage Charges were levied on the clients of Nirmal Bang Partners

    The authorized representatives of Nirmal Bang charge either 0.02% or Rs. 20 for the equities intraday service. The same happens for equity delivery as well.

    The next is the equity option, which costs Rs 35 per lot. In relation to the market, this is quite inexpensive, a benefit to the traders.

    The price for currency options is Rs 20 per lot. When compared to other firms, this pricing is pretty favorable. For commodities futures, stock futures, and currency futures, Nirmal Bang Partner charges 0.2% or Rs. 20, accordingly.

    Nirmal Bang Franchise Conclusion

    Given that the majority of stock broking franchisers already offer this service, it is not a significant offering. Since Nirmal Bang is a full-service broker, a novice might not be favored by the company since they lack the knowledge to properly represent the partnership firm and may not be worthy of the revenue ratio that Nirmal Bang gives.

    However, every interested party who successfully becomes part of this partnership network can benefit significantly from this additional income source.

    Nirmal Bang Sub Broker or Partner Program FAQs

    Check out the most frequently asked questions about the Nirmal Bang franchise model:

    Who is a Sub Broker?

    Sub-brokering refers to the practice of a broker using an agent to bring in more clients. For a broker, the sub-brokers recruit new clients, convert them, and persuade them to trade and use different goods and services. In exchange, the sub-brokers will receive a portion of the brokerage fees that clients pay to the brokers.

    Do I need any prior stock brokerage experience to work at Nirmal Bang?

    Yes, someone needs to have a basic understanding of the financial industry and its functionality. It is also necessary to have a comprehensive understanding of all the products, such as stocks, derivatives, IPOs, currencies, mutual funds, etc, trading in the financial market. Additionally, 1-2 years of financial industry experience are required.

    What attractive sub-broker offers are provided by Nirmal Bang?

    The offers provided in favor of the partners are cashback on brokerages, lower brokerage fees, higher credit limits, longer credit terms, lower margin requirements, and lower deposits.

    How many different partnership types does Nirmal Bang offer?

    Currently, only one Nirmal Bang partnership model, the Nirmal Bang franchise model, is available. The major reason behind this altercation is that the organization wanted their associates/partners to fully focus on only one partnership model.

    How long must I wait before I can begin operating my Nirmal Bang franchise?

    For the entire procedure to be finished, you must wait 3 to 6 days. The procedure would be further delayed if any documents are missing.

    Is a monetary investment required to launch the Nirmal Bang franchise?

    Yes, you need to make an initial investment ranging from 50,000 to 2.5 lacs to launch a Nirmal Bang franchise. The sum deposited is a refundable amount and includes a security deposit and infrastructure setup sots in it.

    What revenue share may I anticipate if I own a Nirmal Bang franchise?

    You will receive 50% of the money that is produced since the company considers you a partner rather than an associate. You can negotiate a greater revenue share with them after you can add more clients and produce high brokerage.

    What Paperwork is needed to register as a Nirmal Bang franchise/partner?

    1. A legitimate ID proofs
    2. Address proof
    3. The rental agreement is related to the space where the franchise is going to have a physical presence.
    4. A partnership agreement
    5. Few passport-sized pictures
    6. academic credentials
    7. Proof of employment or experience
    8. Documents on GST and other taxes, etc.
    9. Canceled cheque

    What kind of assistance does the Nirmal Bang Partner Program offer?

    Even if one is a novice in the field of trading, the training and support model of the organization will help in preparing you for all the responsibilities. Some of the support services are mentioned below:

    1. Access to the trading platforms training
    2. Assistance with front office setup
    3. Assistance in acquiring clients
    4. Availability of research reports
    5. Attentive onboarding manager
    6. Assistance with customer advice

    Which Indian states are home to the Nirmal Bang Franchise?

    Nirmal Bang Franchise may be found in several states. The list of states includes West Bengal, Chattishgarh, Bihar, Andhra Pradesh, Delhi, Jharkhand, Gujarat, Karnataka, Kerela, Madhya Pradesh, Maharashtra, Punjab, Rajasthan, Tamil Nadu, and Uttar Pradesh.

    Become a Sub Broker with Angel Broking – Just Fill up the form

      Become a Sub Broker
      1. Become Sub Broker

      Find detailed review of other Sub Broker Franchise

      Shriram Insight Sub Broker Ventura Securities Sub Broker IDBI Direct Sub Broker
      Tradebulls Sub Broker Zerodha Sub Broker Inventure Growth Sub Broker
      Upstox Sub Broker Swastika Investment Sub Broker Intime Equities Sub Broker

      List of Top Nirmal Bang Partners / Business Partners

      Company List Remisiers Name Trade Name Remisiers Registration No.
      Nirmal Bang Radhey Shyam Yadav Radhey Shyam Yadav R/0498/31551/31/08/2009
      Nirmal Bang Uday A Chheda Uday A Chheda R/0498/31555/31/08/2009
      Nirmal Bang Banwari Lal Banwari Lal R/0498/33268/19/11/2009
      Nirmal Bang Maharukh Cherag Gandhi Maharukh Cherag Gandhi R/0498/33269/19/11/2009
      Nirmal Bang Tejashwi Raj Tejashwi Raj R/0498/33270/19/11/2009
      Nirmal Bang D Sree Rama Murthy D Sree Rama Murthy R/0498/37653/08/07/2010
      Nirmal Bang Pradeep Patel Pradeep Patel R/0498/37656/08/07/2010
      Nirmal Bang Jakhotia Hemant Mohanlal Jakhotia Hemant Mohanlal R/0498/37694/08/07/2010
      Nirmal Bang Deepali Dubey Deepali Dubey R/0498/37695/08/07/2010
      Nirmal Bang Balwant S Jain Balwant S Jain R/0498/37814/19/07/2010