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ICICI Direct Franchise setup is a pioneer in floating the sub-brokership concept in the financial market.

In this article, We will do an in-depth ICICI Direct Sub Broker Review and a detailed analysis of ICICI Direct Franchise Offers, ICICI Direct Sub Broker Commission, ICICI Direct Franchise Cost & other important features of the ICICI Direct Authorized Person Program.ICICI Direct Franchise Offers

Table of Contents

ICICI Direct Franchise Ratings & Review by Top10StockBroker

ICICI Direct Franchise Ratings
Criteria Ratings
Experience 8.0/10
Market Share 7.5/10
Products & Services 8.9/10
Revenue Sharing 7.0/10
Holistic Support 8.5/10
Overall Ratings 8.0/10
Star Ratings ★★★★★

About ICICI Direct Franchise

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

It also realized that to serve this increasing incline, there needs to be a certain retail channel to capitalize on potential investors from smaller cities.

Thus, it offered a partnership as a sub-broker that would serve a potential investor with all its investment requirements through a physical presence.

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

By 2012, the ICICI Direct Sub Broker program or ICICI Direct Authorized Person Program had set up 212 own outlets, mostly in tier 1 cities.

A franchise model was adopted to serve the clients from tier-II cities. The records for the year 2012 show that ICICI Direct served 428 locations with 1200 franchised outlets.

ICICI Direct’s franchise models are suitable for anybody wishing to take up an entrepreneurship role with nominal capital investment.

As per the new circular of SEBI, All existing Sub Brokers will now have to register as Authorized persons. All new ICICI Direct Authorized Persons will be registered under exchanges instead of SEBI per the regulation.

The Authorized person will perform all duties of the Sub Broker & everything will remain the same, like revenue sharing & security deposit.

Researching is one of the most powerful and important tools of any trader, and we aspire to strengthen your tool with the opt resources whether it is about the best stocks or the Best Sub Brokers in India.

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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, and functions of the two kinds of business association models 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 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 with experience in the financial market. The expected experience ranges from 1 to 3 years.

    Apart from this, it also requires the candidate to be capable of making a certain capital investment for setting up infrastructure.

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

    The sub-broker is expected to continue adding new clients regularly and maintain current ones.

    ICICI Direct sub-broker interacts with the clients daily, understands their trading/investing requirements, and then assists 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 the initial months
    • Exclusive offers for prestigious client accounts
    • Progressive revenue share constantly

    Similar Sub Brokers, you may also Like

    ICICI Direct Investment Associate

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

    ICICI Direct Investment associate is an advisor to its clients for advising on the kinds of instruments that should be chosen for investments.

    Some instruments are bonds, IPOs or mutual funds, or credit products like personal loans, home loans, etc. Thus, the 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 the stock market and its nitty-gritty
    • 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 the market.

    It compensates its sub-brokers and investment associates with a highly rewarding revenue-sharing ratio.

    These ratios are determined based on 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 is usually offered by ICICI Direct.

    ICICI Direct sub-broker or ICICI Direct Authorized Person

    Since the functions involved in this arrangement are quite substantial, ICICI Direct remunerates the sub-brokers with a 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 the case of this model, the revenue-sharing ratio is between 30% to 70%. This is a wide range as in this model, there are a lot of products, and each product has different margins; hence the revenue sharing ratio also widely differs.

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


    ICICI Direct Commission

    Sub Broker Commission
    ICICI Direct Sub Broker / ICICI Direct Authorized Person 50% – 25% 50% – 75%
    ICICI Direct Investment Associate 70% – 25% 30% – 75%

    ICICI Direct Franchise Cost / Security Deposit

    Like the other industry players, ICICI Direct also levies a condition of security deposit & capital investment.

    The security deposit that ICICI Direct expects of its sub-brokers ranges from INR 25,000 to INR 2 lac depending on the sub-broker’s products.

    Further, this deposit is refundable and is usually maintained to keep the principal broker indemnified from any monetary loss due to the sub-broker default.

    ICICI Direct Franchise Infrastructure Cost

    The other kind of outflow is the infrastructure investment a sub-broker must 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 the sub-broker, the client accounts being handled, and other factors.

    ICICI Direct is also specific to the look & feel of the office that the sub-broker maintains; further, it mandates that the décor should be in line with ICICI Direct’s brand & appearance.

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


    Franchise Cost

    ICICI Direct Sub Broker / ICICI Direct Authorized Person INR 75,000 – 200,000
    ICICI Direct Investment Associate INR 25,000 – 100,000

    ICICI Direct Sub Broker Offers

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

    • Allows customized packages for high-net-worth clients
    • Lessens the margin of money deposit
    • Lessens the security deposit amount
    • Assists in the investment setup
    • Higher revenue-sharing ratio
    • Free Demat account to the sub-broker 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 must 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 the financial/stock market would also be an add-on.

    ICICI Direct Sub Broker Support / Advisory

    ICICI Direct is known for the range of Support it provides to its partners. You name it, and they have that support service on the platter for you. They provide relationship managers to every partner, so client acquisition becomes easy.

    Then there is dedicated back-office Support, which is crucial for every sub-broker/ franchise holder to keep track of all clients, their brokerage payments to the broker, and their earnings of themselves.

    As a partner, you would also need training from the broker about their products, and ICICI Direct has all the Support ready for you to help you understand their products and services.

    Coming to marketing support, ICICI Direct offers all kinds of marketing support to its partners. Apart from these, there is other Support like trading support, advisory support, and others rendered by ICICI Direct.

    How to Become an ICICI Direct Sub Broker or Authorized Person?

    ICICI Direct has a very basic and simple procedure for registration as a sub-broker:

    • One can fill up the lead form available with the basic details.
    • Please provide accurate details as these 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 your interest in the sub-broker opportunity.
    • The 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 detail the expectations, the terms, the investments, the revenue ratio, and other similar terms
    • The candidate will have to submit copies of various documents (please refer to 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 the sub-broker, and then the sub-broker can commence business.

    Documents required to become ICICI Direct Authorized Person

    A sub-broker candidate can refer to the following list to understand the documents one needs to submit.

    • ID proof
    • Address proof
    • Registration certificate with SEBI
    • Passing certificates
    • Age proof
    • A cheque for the security deposit
    • Investment proof

    Why Partner with ICICI Direct?

    Here are the various reasons to choose ICICI Direct Partner 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 the trust of the clients.

    Franchise Set-Up Support

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

    Marketing Support

    ICICI Direct helps the sub-broker advertise and market the sub-brokers store.

    Training Support

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

    Analytical Tools

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

    Dedicated Relationship Manager

    A dedicated relationship manager is provided to ICICI Direct Partners.

    ICICI Direct Franchise – Pros & Cons


    • Unparalleled brand value of ICICI Direct
    • Highly advanced trading platforms
    • Multiple investment products
    • Exceptional support services to the partner


    • The offline visibility of ICICI Direct is low compared to its peers
    • Revenue share for small sub-brokers can be at the lower end

    ICICI Direct Franchise Registration

    It is pretty simple if you are wondering how to register for the ICICI Direct franchised agency. You can just follow the steps mentioned below –

    • Check whether you are eligible for availing of their franchise; read the details about the requirements for franchise holders of ICICI Direct on their website.
    • Then once you are sure of meeting all the eligibility criteria, you just have to fill out the basic details form from their website.
    • Once the ICICI Direct team receives the form, they will give you a callback and verify your business plan, your interest in the business, and your experience. You can have a detailed discussion about the business with them to convince them about your business plan for availing of the ICICI direct franchise.
    • They will then share an agreement which you have to sign. Read all the details and terms and conditions of the agreement.
    • You must submit documents like PAN, AADHAAR, Income Proof, Bank details, SEBI Certificates, NISM Certificates, and others.
    • Next, you have to deposit the amount required for availing of the franchise. It is a security deposit which is the initial investment as well.
    • Then you will receive the Account ID upon successful verification of your documents.
    • You can then start your business using your Account ID of ICICI Direct.

    Earning the potential of an ICICI Direct Partner / ROI

    ICICI Direct offers one of the highest shares of revenue to its partners. Suppose you enrol as an Authorised Partner, Investment Associate, or Independent Financial Associate with ICICI Direct.

    In that case, you can earn up to 75% of the revenue generated by the clients you bring to the brokerage house.

    The minimum a partner can earn is 50% of the revenue generated by their clients. Hardly is there any other brokerage house that provides a revenue share of 50% to 75% to the partners.

    That said, there is an initial investment of Rs. 75000 and other infrastructure requirements for the Franchisee. However, the initial investments will be one-time, and your earnings will generate over a lifetime.

    ICICI Direct not only shares revenue but also offers a fixed amount for bringing new clients to the company.

    ICICI Direct Franchise Referral Program

    Thus, ICICI Direct has come up with a new referral program as well. Here, all you need to do is refer your friends, family, acquaintances, or anyone looking for a brokerage house.

    When the referred person opens an account with ICICI Direct, you will earn Rs. 100, and when they do their first transactions, you will get another Rs. 400.

    So, the total earning potential for the referral program partners of ICICI Direct on each client referred is Rs. 500.

    However, if you can refer an NRI to open an account with ICICI Direct and invest/ trade, you can earn up to Rs. 2000 for each successful client referral.

    ICICI Direct Authorised Person – Products Offered

    The range of products offered by ICICI Direct, which as an Authorised Person of the firm, you can also offer as given below –

    • Equity – currencies – commodities – derivatives – all under one roof you are going to get.
    • Algo trading
    • Robo Advisory
    • 3-in-1 account – Demat – trading- Bank account together, which helps in seamless trading and investment
    • Multiple trading platforms – highly advanced and loaded with features
    • Stock recommendations, tips, and advisory services
    • Portfolio management services
    • Insurance
    • Mutual funds

    Brokerage Charges levied on the clients of ICICI Direct Partners

    ICICI Direct, being a full-service brokerage house, has come up with a flat-fee brokerage plan known as the ICICI Direct Neo Brokerage plan.

    If the clients you bring choose this plan, they will pay only Rs. 20 per order for cash segment, options, commodities, and currencies. For equity futures, it is nil, and also for delivery trades.

    ICICI Direct Authorized Person Client Testimonials:

    We certainly consider our decision to become an ICICI Direct sub-broker one of our smartest business decisions. Since we set up the office in 2012, we have never looked back. They have an amazing & innovative team and constantly train us on 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. Initially, I was hesitant to take up this opportunity, but ICICI Direct has been a great confidence booster. Their regular training & seminar programs have been really useful because 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 especially. 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 financial products like loans.

    To expand 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 set up their store and train them regularly.

    ICICI Direct has also laid very basic criteria for a sub-broker candidate. It does not mandate any experience and hence can be said to promote new talent and give 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

    Here is the list of FAQs related to the ICICI Direct sub-broker:

    Who is a sub-broker?

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

    How can I become an ICICI Direct sub-broker?

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

    What are the requirements for becoming an ICICI sub-broker?

    The 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 the 12th standard
    • Any additional experience or qualification is an add on

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

    The investment may range from 25,000 to 2 lac. Out of this, a certain part is refundable on termination of the agreement. Some part is also kept for Infrastructure setup.

    How will ICICI Direct Support a sub-broker?

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

    Does ICICI Direct have Sub Broker Model?

    Yes, this stock broking provides a franchise business model for Sub Broker. One needs to accomplish a set of criteria to avail of the model.

    The one who fulfils the criteria will be provided with the opportunity to invest in the model alongside significant help.

    Does ICICI Direct have multiple Franchise models?

    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 and investment associate franchise models.

    What is ICICI Direct Sub Broker Commission?

    ICICI Direct offers two models, and the commission for the sub-broker model is 50% – 75%. According to this ratio, the franchisor will retain 50% – 25% of the revenue.

    This ratio is great as you get to retain as much as 70% of the revenue you make.

    How much does ICICI Direct Franchise Cost?

    There is a range of investment costs, 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 between INR 25,000 to INR 2 lac. The final amount is dependent on factors such as products chosen to trade by the sub-broker.

    Does ICICI Direct have Partner Program?

    The alternative business model provided by ICICI Direct to that of the 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.

    The associate advises mainly about bonds, IPOs, mutual funds, or credit products like personal loans, home loans, etc.

    What is ICICI Direct Partners Sharing?

    The revenue sharing provided to the investment associate is fair based on the job and responsibility designated to them. According to the structure, the investment associate’s revenue sharing is 30% – 75%.

    Is ICICI Direct Partner Program Free?

    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 must provide the stockbroker with an investment cost of INR 25,000 – 100,000.

    Does ICICI Direct provide Training Assistance?

    Sub-brokers are provided with a lot of training assistance to carry on their job most feasibly, with the right set of facilitation.

    For instance, you can expect training in client acquisition, online trading platforms, and regular seminars and training programs.

    How to Become ICICI Direct Sub Broker?

    No matter which franchise model you choose to avail of, click on the “Become Sub Broker” button on this page. Follow up with the process by flinging the pop-up form.

    When the company provides you with an appointment, discuss revenue sharing, investment, infra requirement, etc., and then sign the sub-broker agreement.

    Does ICICI Direct Franchise provide Support?

    Yes, ICICI Direct provides a great degree of Support for its Franchisees 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 attract clients.

    Which stock broker is best for the franchise?

    ICICI Direct is regarded as one of the top stock broking franchise providers as it shares a whopping share of revenue that hardly any other brokerage house shares.

    Moreover, there is ample support and training offered by the firm as well.

    How much margin does ICICI Direct give?

    ICICI Direct offers up to 4 times exposure or margin. Suppose you have Rs. 50000 in your trading account as a balance so that you can trade securities worth Rs. 2 lakhs with the ICICI Direct Margin funding Trading facility.

    What are the minimum brokerage charges in ICICI Direct?

    ICICI Direct charges no brokerage on futures and delivery trades in the equity segment under its NEO plan. In contrast, for other segments, it has a flat fee of Rs. 20 per order, irrespective of the trade volume.

    What is the minimum amount to invest in ICICI Direct?

    There is no minimum amount you need to invest in ICICI Direct. But you need to have a minimum balance of Rs. Five thousand in the account failing to which, penalties will be levied of Rs. 750.

    How do I start the ICICI Direct franchise?

    To start the ICICI Direct franchise, you must first become an Authorised Person of the firm. You need to apply for the opportunity, submit your business plan, and discuss it with the ICICI Direct executives.

    If they agree and get convinced, you have to submit the required documents and pay the required registration amount. After everything is done, you will receive the Account ID.

    Is ICICI Direct a good sub-broker?

    ICICI Direct is one of the top brokerage houses and one of the highest-paying sub-brokerage opportunity providers. Very few brokers in the country provide such an exponential share of revenue to the partners and support facilities.

    Does ICICI Direct give tips?

    Yes, ICICI Direct has a dedicated team for stock recommendations and advisory.

    Can I sell delivery shares on the same day in ICICI Direct?

    Yes, you can sell the delivery shares on the same day in ICICI Direct. There will be no issues in doing the same, and the trade will be considered intraday and not delivery.

    How can I transfer shares from ICICI Direct to Zerodha?

    Yes, you can transfer shares in your ICICI Direct Demat account to Zerodha. Both firms offer transfer facilities.

    When and if you close the Demat account with ICICI Direct, you can transfer the shares in it to the Zerodha Demat account you open or already have.

    Can I do short selling in ICICI Direct?

    Yes, short selling is possible with the ICICI Direct trading account. If you think the market is about to go down, you can short-sell using the Margin Funding trading facility of ICICI Direct.

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