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ICICI Direct Franchise setup is said to be a pioneer in floating the sub brokership concept in the financial market. In this Artcile, We will do an in-depth ICICI Direct Sub Broker Review along with detailed analysis on ICICI Direct Franchise Offers, ICICI Direct Sub Broker Commission, ICICI Direct Franchise Cost & other important features of ICICI Direct Authorized Person Program.ICICI Direct Franchise Offers

ICICI Direct Franchise Customer Ratings & Review

ICICI Direct Franchise Ratings
Market Share7.5/10
Products & Services8.9/10
Revenue Sharing7.0/10
Holistic Support8.5/10
Overall Ratings8.0/10
Star Ratings★★★★★

About ICICI Direct Franchise

ICICI Direct Franchise launched this partnership offer in 2003. ICICI Direct was one of the institutions which identified the increasing trend towards financial market and investment business.

ICICI Direct FranchiseIt also realized that to serve this increasing incline, there needs to be certain retail channel to capitalize on potential investors from smaller cities. Thus, it offered a partnership as a sub broker which would serve a potential investor with all its investment requirements by way of a physical presence.

Another reason for floating this business was limited access to internet for such small city investors and the lack of knowledge in this market.

By 2012, ICICI Direct Sub Broker program or ICICI Direct Authorized Person Program had set up 212 own outlets which were mostly in tier 1 city. For serving the clients from tier II cities, franchise model was adopted. The records for year 2012 show that ICICI Direct served 428 location with 1200 franchised outlets.

ICICI Direct’s franchise models are very much suitable for anybody who wishes to take up the entrepreneurship role with a nominal capital investment.

As per new circular of SEBI, All existing Sub Brokers will now have to register as Authorized Person. All new ICICI Direct Authorized Person will be registered under exchanges instead of SEBI as per the regulation. The Authorized person will perform all duties of Sub Broker & everything will remain same like revenue sharing & security deposit.

Become an Authorized Person of ICICI Direct

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    ICICI Direct offers two models of partnership:

    • Sub-brokership or Authorized Person Program
    • Investment associate

    The two categories are differentiated by the experience and skill set expected from the partner. These are discussed below in detail.

    Herein we are discussing in detail the roles, responsibilities, functions of the two kinds of business association model that are available with ICICI Direct along with the benefits of each model:


    ICICI Direct Sub Broker or ICICI Direct Authorized Person

    This is a general sub-brokership model wherein the sub-broker represents the principal broker. ICICI Direct Sub-broker gets an opportunity to serve the clients with various trading & investment products like equity, derivatives, currencies, commodities, IPOs, mutual funds, insurance etc.

    ICICI Direct Authorized Person model is offered to candidates who hold an experience in financial market. The expected experience ranges from 1-3 years. Apart from this, it also requires the candidate to be capable of making certain capital investment for setting up infrastructure.

    Needless to say, it has prescribed minimum age limit of 20/21 years, educational qualification and registration with SEBI and relevant stock exchange. It also mandates a certification from NISM that is a capital market certification.

    The sub-broker is expected to continue adding new clients regularly and also to maintain the current clients. ICICI Direct sub-broker interacts with the clients on a daily basis, understands their trading/investing requirements and then assist them in undertaking such activities by placing their trade orders with the principal brokers.

    Benefits of ICICI Direct Authorized Person:

    • A high range of products & services to offer to clients
    • Association with a huge brand name
    • Marketing support provided for initial months
    • Exclusive offers for prestigious client accounts
    • Progressive revenue share on a constant basis

    ICICI Direct Investment Associate

    As the name suggests, this model is restricted to the investment products – hence any candidate who does not wish to be a part of trading business owing to the high risk and the fluctuating economic scenarios, can opt for this model.

    ICICI Direct Investment associate acts as an advisor to its clients for advising on the kinds of instruments that should be chosen for investments. Some such instruments are bonds, IPOs or mutual funds or credit products like personal loan, home loan etc. Thus, ICICI Direct Investment associate does not undertake dealings in equity, derivatives or currencies etc.

    Benefits of ICICI Direct Investment Associate:

    • No experience mandatory
    • No requirement to have a grip on stock market and its nitty-gritties
    • Product focused business model
    • No business fluctuations on account of economic cycles
    • Can be taken up as an extra income source

    ICICI Direct sub broker commission / Revenue Sharing Model

    ICICI Direct, being a part of a well-established business house, has ensured that its revenue sharing policies are at par with the rates prevailing in market. It compensates its sub-brokers and investment associates with high rewarding revenue sharing ratio.

    These ratio are determined on the basis of multiple parameters like the experience of the candidate, the current revenue, the projected revenue, the product profile, the category of clients etc. In the below para, the average or the range of revenue sharing that is usually offered by ICICI Direct.

    • ICICI Direct sub-broker or ICICI Direct Authorized Person: Since the functions involved in this kind of arrangement are quite substantial, ICICI Direct remunerates the sub-brokers with ratio as high as 50% to 75%. The article mentions a range and not a fixed revenue ratio because these ratios are negotiable. As mentioned above, the ratio is a product of multiple factors and hence would vary from case to case.
    • ICICI Direct Investment Associate: In case of this model, the revenue sharing ratio is between 30%  to 70%. This is a wide range as in this model there a lot of varieties of products and each product has different margins hence the revenue sharing ratio also widely differs.

    Check the table below for clear understanding of ICICI Direct Revenue Sharing Model:


    ICICI Direct Commission

    Sub Broker Commission
    ICICI Direct Sub Broker / ICICI Direct Authorized Person50% – 25%50% – 75%
    ICICI Direct Investment Associate70% – 25%30% – 75%

    Check similar Sub Broker Franchise with their Revenue Sharing Models:

    ICICI Direct Franchise Cost / Security Deposit

    Similar to the other industry players ICICI Direct also levies a condition of security deposit & capital investment. The security deposit that ICICI Direct expects its sub-brokers ranges from INR 25,000 to INR 2 lac depending upon the products that the sub-broker stocks.

    Further, this deposit is refundable in nature and is usually maintained so as to keep the principal broker indemnified from any monetary loss that might occur due to sub-broker’s default.

    Find the list of Stock Market Franchise with low initial investment amount:

    ICICI Direct Franchise Infrastructure Cost

    The other kind of outflow is the infrastructure investment that a sub-broker is required to make. This is towards the workplace and the office space that a sub-broker is required to maintain. The other infrastructure requirements are telephone lines, internet connectivity, workstations etc.

    The infrastructure investment would cost an Authorized person somewhere between 75,000 to 2 lacs depending upon the city of sub-broker, the client accounts being handled and other various factors. ICICI Direct is also specific to the look & feel of the office that sub-broker maintains; further, it mandates that the décor should be in line  ICICI Direct’s brand & appearance.

    Check the table below for better understanding of ICICI Direct Franchise Cost:


    ICICI Direct Franchise Cost

    ICICI Direct Sub Broker / ICICI Direct Authorized PersonINR 75,000 – 200,000
    ICICI Direct Investment AssociateINR 25,000 – 100,000

    ICICI Direct Sub Broker Offers

    Some of the ICICI Direct’s popular offers for gaining sub-broker accounts are:

    • Allows customized packages for high net worth clients
    • Lessens the margin money deposit
    • Lessens the security deposit amount
    • Provides assistance in the investment set up
    • Higher revenue sharing ratio
    • Free DEMAT account to sub-broker’s client
    • Easy registration procedure


    ICICI Direct Franchise or Authorized Person – Eligibility Criteria

    ICICI Direct has very basic eligibility criteria for a candidate to qualify as a sub-broker. These requirements are as under:

    • SEBI registration: This is the most basic & most mandatory requirement. This is a statutory requirement. Every sub-broker needs to be registered with SEBI & associated with NSE/BSE.
    • Minimum 21 years old
    • Should have cleared higher secondary education
    • Should have an understanding of the stock market
    • Any experience in the stock market or financial market would be an add on
    • Similarly, any certification course from financial/stock market would also be an add on.

    How to become a ICICI Direct Sub broker or Authorized Person?

    ICICI Direct has a very plain and simple procedure of registration as a sub-broker:

    • One can fill up the lead form available with the basic details
    • Please provide accurate details as these details would be used to connect the candidate with the relation team of ICICI Direct
    • Our team will connect with you to confirm the details provided and the interest in sub-broker opportunity
    • ICICI Direct team will connect with you to discuss the preliminary details of the opportunity
    • ICICI Direct team will set up a meeting to discuss in details the expectations, the terms, the investments, the revenue ratio and other similar terms
    • Candidate will have to submit copies of various documents (please refer the next section for the list of documents)
    • An agreement will be executed between the candidate & ICICI Direct team to document the terms and conditions of the arrangement.
    • Once the agreement is done, ICICI Direct will set up an account for sub-broker and then sub-broker can commence business.

    Documents required to become ICICI Direct Authorized Person

    A sub-broker candidate can refer the following list to have an understanding of the documents that one needs to submit.

    • ID proof
    • Address proof
    • Registration certificate with SEBI
    • Passing certificates
    • Age proof
    • Cheque for security deposit
    • Investment proof

    Know about other stock broking franchise:

    Why Partner with ICICI Direct?

    Here are the various reasons to choose ICICI Direct Partnner Program:

    Huge Brand Name:

    ICICI Direct carries along with it a huge brand name and because of this brand name, the sub-broker would have an advantage in gaining trust of the clients

    Franchise Set-Up Support

    The Assistance that ICICI Direct provides in setting up of a store is also excellent.

    Marketing Support:

    ICICI Direct helps the sub-broker is advertising and marketing of the sub-broker’s store.

    Training Support:

    ICICI Direct helps the sub-broker in training its clients with the trading platforms.

    Analytical Tools:

    ICICI Direct’s smart analytical tools are also an added advantage that helps the sub-broker in attracting clients.

    Dedicated Rationship Manager:

    A dedicated relationship manager is provided to ICICI Direct Partners.

    ICICI Direct Authorized Person Client Testimonials:

    We certainly consider our decision of becoming an ICICI Direct sub-broker as one of our smartest business decisions. We set up the office in 2012 and since then have never looked back. They have an amazing & innovative team and constantly train us in how to help our clients with good returns and how to make trade more easy & comfortable for our clients. By – Navneet & Co., Muradabad

    It has been a great journey so far with ICICI Direct. I was initially a bit hesitant to take up this opportunity but ICICI Direct has been a great confidence booster. Their regular training & seminar programmes has been really useful because of which I have constantly learned and passed on the knowledge to my clients. By – Vidhi Trivedi, Ajmer

    I am very happy with ICICI Direct services. They have great offers always for all my high revenue customers. Also, their research & advisory team has been a huge support for me specially. I highly recommend a sub-brokership arrangement with ICICI Direct. By – Lalit Vasudev, Calicut

    ICICI Direct Franchise Summary

    ICICI Direct is a competitive firm offering a wide range of stock market & financial products ranging from equity/derivatives to the financial products like loan. To expan its customer base, ICICI Direct has floated multiple business models.

    The revenue sharing ratio that ICICI Direct offers is also very competitive and rewarding for the sub-brokers. Apart from this, the support that ICICI Direct lends to a sub-broker is commendable as they provide end to end support and help the sub-brokers in setting  up their store and then train them on a regular basis.

    ICICI Direct has also laid very basic criteria for a sub-broker candidate. It does not mandate any experience and hence can be said that it promotes the new talent and gives them equal opportunities.

    Another great feature is the low cost involved in this and the simple and plain procedure to be followed for registering. For a person who wishes to take up this business, it is highly recommended to consider this opportunity.

    ICICI Direct Sub Broker FAQs

    Ques – Who is a sub-broker?

    Ans – Sub-broker is an extended arm of principal broker- it is like having a local office set up.

    Ques – How can I become a ICICI Direct sub-broker?

    Please fill in the lead form available here and we will connect you with the relations team of ICICI Direct.

    Ques – What are the requirements of becoming ICICI sub-broker?

    Ans – Following conditions are prescribed to be eligible to become a sub-broker:

    • Minimum 21 years of age
    • Should be registered with SEBI as a sub-broker (at times even ICICI Direct helps the candidate with this procedure)
    • Should have cleared 12th standard
    • Any additional experience or qualification is an add on

    Ques – How much investment is required to become a sub-broker?

    Ans – The investment may range from 25,000 to 2 lac. Out of this, certain part is refundable on termination of agreement. Some part is also kept for Infrastructure Set-up.

    Ques – How will ICICI Direct support a sub-broker?

    Ans – ICICI Direct provides support in setting up office, advertising, acquiring & retaining clients, technical training, seminars, educating clients, assistance in operating trading platforms and placing orders.

    Ques – Does ICICI Direct have Sub Broker Model?

    Answer – Yes, this stock broking provides a franchise business model of Sub Broker. There are a set of criteria one needs to accomplish in order to avail for the model. They one who fulfil the criteria will be provided with the opportunity to invest in the model alongside significant help.

    Ques – Is ICICI Direct having multiple Franchise models?

    Answer – Yes, ICICI Direct does have multiple franchise models to provide. But the models are not as much as other major competitors. This stock broker does not provide the master franchise model, however you can opt for the Sub broker franchise model and the investment associate franchise model.

    Ques – What is ICICI Direct Sub Broker Commission?

    Answer – There are two models offered by ICICI Direct, and the commission for the sub broker model specifically is 50% – 75%. According to this ratio, the franchisor will retain 50% – 25% from the revenue. This ratio is great as you get to retain as much as 70% of the revenue you make.

    Ques – How much ICICI Direct Franchise Cost?

    Answer – There is a range of investment cost, as asked by the franchisor. This is not a fixed amount, where the flexible range acts as a benefit for the franchisee. So, the investment cost required is in between INR 25,000 to INR 2 lac . The final amount is dependent of factors such as products chosen to trade by sub broker.

    Ques – Does ICICI Direct have Partner Program?

    Answer – The alternative business model provided by ICICI Direct, to that of sub broker is investment associate. Here, the associate has the responsibility of providing advisory support, and does not indulge in the process of trading business. Main products the associate advises about are bonds, IPOs or mutual funds or credit products like personal loan, home loan etc.

    Ques – What is ICICI Direct Partners Sharing?

    Answer – The revenue sharing provided to the investment associate is fair on the basis of the job and responsibility designated to him/her. According to the structure the revenue sharing fixed is 30% – 75% for the investment associate.

    Ques – Is ICICI Direct Partner Program Free?

    Answer – No, the investment associate business program provided by the stock broker is not free of cost. The concerned individual who wishes to opt for the investment associate, has to provide the stock broker, an investment cost of INR 25,000 – 100,000.

    Ques – Does ICICI Direct provide Training Assistance?

    Answer – Sub brokers are provided with a lot of training assistance, so they can carry on their job in the most feasible manner, with the right set of facilitation. For instance, you can expect training in client acquisition, online trading platforms, and also regular seminars and training programs.

    Ques – How to Become ICICI Direct Sub Broker?

    Answer – No matter which franchise model you choose to avail, click on the “Become Sub Broker” button from this page. Follow up with the process by fling the pop up form. When the company provides you with an appointment, discuss everything regarding revenue sharing, investment, infra requirement etc, and then sign the sub broker agreement.

    Ques – Does ICICI Direct Franchise provide Support?

    Answer – Yes, ICICI Direct provides a great degree of support for its franchsiee in multiple aspects. Starting right from the franchise set-up support, it also provides marketing support, alongside training support. You are also provided with the company’s smart analytical tools, which effectively attracts clients.

    Find more sub broker franchise review: click on the links below

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