ICICI Direct Franchise is part of the ICICI group. The group has been catering to a wide variety of clients. And, their supremacy in the financial industry is well known.
The franchiser represents the financial franchise division of the group. They’ve teamed up with pretty good partners to serve the clients since 1994.
Together with their partners, they’ve helped many clients generate huge ROIs. However, our prime concern today will be their activities as financial franchisers.
And, we’ll lay down a detailed review of the ICICI Direct Sub Broker Program based on multiple factors.
|ICICI Direct Sub Broker Highlight|
|Top Business Model||Sub Broker|
|Initial Investment Required||Rs.75,000 – Rs.200,000|
|Revenue Sharing||50% – 75%|
|Payout Time||30 Days|
|SB Code Activation Time||14 Days|
What do you know about ICICI Direct Franchise?
ICICI Direct Franchise is based out of Mumbai, Maharashtra. And, the prime reason for their existence goes to Vjay Chandok, their founder.
They’ve been catering to different clients since the year 1994. And, ever since their establishment, they’ve focused on developing their services.
As a financial franchiser, they take 14 days for sub-broker code activation. And, they even take 30 days to process the dues of their partners.
|ICICI Direct Business Partner Overview|
|Here is the overview of ICICI Direct Franchise|
|What type of Company is it? – Public / Private||Public|
|What is the Broker type?||Full Service Broker|
|Where is the Headquarter located?||Mumbai, India|
|Who is the Founder?||Vjay Chandok|
|What is the year of establishment?||1994|
|How many days does it take for SB Code Activation?||14 Days|
|How many days/weeks it takes for Payout?||30 Days|
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What are the various Business Models that ICICI Direct Sub Broker Program provides?
ICICI Direct Franchise’s been thriving with financial planning and advisory since 1994. This has granted them enormous experience in the industry. Furthermore, they’ve gained sufficient insight into the behavior of the industry.
And, thus they grant their partners two different business models. We’re referring to the ICICI Direct sub-broker and remisier models. Both business models have different utilities. Furthermore, they even cater to different client types.
- Sub Broker / Authorised Person
- Partner Program / Remisier
ICICI Direct Sub Broker / Authorised Person
The sub-broker model requires a larger initial investment. It requires certain business infrastructure and more security deposit. However, it grants better commission rates than the remisier model.
ICICI Direct Partner Program / Remisier
The remisier model, however, does not require any infrastructure to start with. Moreover, the required security deposit is less than the sub-brokers. This model even allows the partners to act on their own. And, we mean as individuals.
|ICICI Direct Franchise Business Models|
|Know about various Business Models of ICICI Direct|
|Is the Sub Broker business model available?||Yes|
|Do they provide Referral Program?||No|
|Do they provide Master Franchise Model?||No|
|Does this broker provide Partner / Remisier model?||Yes|
How does ICICI Direct Sub Broker Revenue Sharing work?
ICICI Direct has certain distinctions regarding revenue sharing. They’ve categorized the commission models as per the business models.
Moreover, there are even distinctions as per arrangements. These arrangements are made between the franchiser and the partners.
ICICI Direct franchise revenue sharing grants the sub-brokers a commission of 50-75%. But that’s not all. The remisiers have a chance to earn a commission of 30-75% based on the arrangements.
|ICICI Direct Sub Broker Revenue Sharing|
|Find the details of ICICI Direct Sub Broker Commission for all Business Models|
|What is the revenue sharing for Sub Broker program?||50% – 75%|
|Do they provide revenue sharing or direct pay for Referral Program?||NA|
|How much is the revenue sharing Master Franchise business?||NA|
|How much is the revenue sharing required for Partner / Remisier model?||30% – 75%|
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What is the ICICI Direct Business Partner Security Deposit requirement?
ICICI Direct has certain rules established for business partners. This even includes several investments. The first set of ICICI Direct sub-broker investments include a security deposit.
The sub-brokers are required to pay a deposit of Rs.75,000-2,00,000. And, the security deposit for the remisiers is charged at Rs.25,000-1,00,000.
|ICICI Direct Franchise Security Deposit|
|Check the ICICI Direct Franchise cost requirement for each business model|
|How much is security deposit required for Sub Broker Program?||Rs.75,000 – Rs.200,000|
|Is there any security deposit required for Referral Program?||NA|
|What is the initial investment required for Master Franchise Model?||NA|
|What is the deposit required for Partner / Remisier Model?||Rs.25,000 – Rs.100,000|
What are the various Offers rolled out by ICICI Direct Authorised Person Program?
ICICI Direct Franchise offers its support to its partners. They grant certain offers that directly impact the business.
However, there are not many offers granted by the franchiser. They only grant flexible revenue-sharing offers to the clients.
|ICICI Direct Sub Broker Offers|
|Here are the list of ICICI Direct Franchise offers available to the clients|
|Do they provide Flexible Revenue Sharing offer?||Yes|
|Are they providing Flat Revenue Sharing offer?||No|
|Do they offer Zero Revenue Sharing model with Prepaid payment?||No|
|Do they provide Zero Deposit scheme?||No|
|Are they offering 10k Initial Deposit scheme?||No|
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What are the various Supports provided to ICICI Direct Business Partner?
The franchiser understands the requirement for proper guidance. That’s why they always grant their supervision to the partners. And, the supervision comes along with a few support programs.
These programs, ease the way of business establishment for the partners. And, they even pave the path for success for the partners. Thus, ICICI Direct franchise support includes: –
- Product Training
- Back Office Support
- Advisory Support
- Trading Support
- Marketing Support
|ICICI Direct Business Partner Support|
|Here are the various Support ICICI Direct Franchise needs to provide to their clients|
|Do they provide Acquisition Training to their associates?||No|
|Do they provide Training for Dealers of their sub brokers?||No|
|Are they providing Product Training for their business partners?||Yes|
|Do they provide Back-Office Support for their authorised person?||Yes|
|Are they providing Trading Support to their business partners?||Yes|
|Are they sharing Advisory Support with their partners?||Yes|
|Does the broking house provide Marketing Support to their sub brokers?||Yes|
Which is the Infrastructure required for ICICI Direct Sub Broker Program?
The rules set by ICICI Direct even include having a certain business infrastructure. However, these infrastructures are not required to be established by the remisiers.
These are only mandatory for the sub-brokers. They enable the partners with daily business activities. Furthermore, these infrastructures even ensure the business integrity of the franchiser.
Thus, ICICI Direct sub-broker infra requirements include: –
- The sub-brokers are meant to have their own office space. And, the office must have a carpet area of 300 sq. ft or more.
- The sub-brokers are meant to recruit proactive staff. The staff must be trained well in the industry chores. And, the minimum required staff strength is 5 people.
- The sub-brokers are meant to establish an active internet connection. The connection must be strong enough to endure simultaneous online trades. Moreover, it must even support regular uninterrupted communications.
- The sub-brokers are meant to have a working telephone connection. This is required for certain ‘trades-over-call’. It even supports communications.
- The sub-brokers are meant to have their research services.
|ICICI Direct Partner Infrastructure Requirement|
|Find the various Infra required to take up ICICI Direct Franchise|
|What is the Employee Strength needed to start this franchise?||Minimum 5|
|Do the Sub Broker needs to provide Trading Terminals?||Yes|
|Is the Internet Connection mandatory to take up franchise?||Yes|
|Are Telephone Lines mandatory for Business Partners?||Yes|
|Is it mandatory to provide Research Services by Sub Broker?||Yes|
|How much is the size of the Office Area required to become a Sub Broker?||Minimum 300 Sq Ft|
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What are the eligibility criteria to become ICICI Direct Partner?
Certain norms must be followed to become ICICI Direct’s partner. We’re referring to the eligibility criteria that unify the selection procedure.
These ensure the selected partners’ ability to keep up with the franchiser’s business proceedings. ICICI Direct franchise’s eligibility criteria include these: –
- It requires the partners to be at least 21 years of age. The partners must provide a valid certificate of their age during the registration procedure.
- It requires the partners to have certain certifications. And, the most important one is that of SEBI. This enables the partners to commence business without restrictions.
- It requires the partners to have a certain educative background. In general, having an intermediation degree would suffice. However, the franchiser prefers those with a bachelor’s degree.
- It requires the partners to have certain experiences. We’re referring to 2 consecutive years of experience in stock trading and planning.
What are the brokerage charges levied on the Clients of ICICI Direct Partners?
ICICI Direct franchise has certain restrictions for partners while charging the clients. Therefore, they’ve come up with a unique chart of charges to be incurred.
The partners must not incur any more than the specified charges upon the clients. Thus, ICICI Direct partner charges are listed as: –
- Rs 20 per order for granting all sorts of equity intraday trading services.
- 0.55%% for granting all sorts of equity delivery trading services.
- Rs 20 per order for granting equity options trading services.
- Rs 20 per order for granting currency options trading services.
- Rs 0 (Free) for granting all kinds of equity futures trading services.
- Rs 20 per order for granting all kinds of currency futures trading services.
|ICICI Direct Sub Broker – Brokerage Charges to Clients|
|Here are the brokerage charges levied by ICICI Direct Sub Broker to their clients|
|What are Equity Intraday charges?||Rs 20 per order|
|How much are Equity Delivery charges?||0.55%|
|How much is the charge levied on Equity Options?||Rs 20 per order|
|How much are the Currency Options charges?||Rs 20 per order|
|What are Equity Futures charges?||Rs 0 (Free)|
|What are the charges levied on Currency Futures?||Rs 20 per order|
|What are the charges levied on Commodity Trading?||Rs 20 per order|
What are the Account Opening Charges Levied to the clients of ICICI Direct Sub Broker?
Even ICICI Direct franchise charges are regulated for the partners. This ensures that the clients get equal treatment from all partners. Here’s the list to be followed: –
- The clients are not supposed to be charged anything for account opening.
- Clients must be charged Rs. 300 annually for Demat AMC.
- The clients must be charged Rs. 0 annually for Trading AMC.
- Clients are to be charged 0.0031% for transactions they make.
|ICICI Direct Franchise – Account Opening Charges to Clients|
|Here are the account opening charges levied by ICICI Direct Franchise to their clients|
|What are the Account Opening Charges?||Zero|
|What is the Margin Money required?||Not required|
|What is the charge for Demat AMC?||Rs 300 (from 2nd year)|
|how much are Trading AMC charges?||Rs.0 per Annum|
|How much is the Transaction Charges levied?||0.0031%|
How to become an ICICI Direct Partner or Sub Broker?
ICICI Bank Limited is a multinational bank and financial services entity based in Vadodara, India.
Its franchise channel is also strong and is growing at a rapid pace.
The company offers three alternates through which you can become a sub-broker of this company. These ways to join ICICI Direct Franchise are Authorised Person, Independent Financial Associate, and Investment Associate.
Of these three, office space is required only in an Authorized Person’s case, and that is not mandatory. You can join the team and become ICICI Direct Partner through the online application itself.
Documents required to become ICICI Direct Partner
Most of the documents required to become an ICICI Direct Sub Broker are the same as starting trading. For a detailed view, you can refer to the following list of documents:
- 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?
ICICI Direct started its franchise chain in 2003 and is one of the pioneers in bringing this business chain to the Indian Market. By partnering with ICICI Direct, you work with an esteemed entity that is known for its excellence and wide operations.
You can offer many products to your clients where they can yield high returns on their investments and earn high income for yourself too.
The revenue-sharing model is progressive, and you can earn up to 75% of the revenue generated through the clients you bring. And even the lowest percentage of revenue sharing is 50% which is higher than many other stock broking houses.
ICICI Direct Franchise – Pros & Cons
You get the shelter of one of the top stock brokers in India. You can bring unimaginable possibilities to your clients through the products offered by the company.
ICICI Direct Franchise offers you access to the latest technology of this entity applied for fluent and smooth operations. You can operate easily and earn at attractive rates through the brokerage.
Mandatory certifications are required to work as an Authorised Person. Registration and other fees can sum up to Rs. 1 lakh.
ICICI Direct Franchise Registration
To begin the journey as an Authorised Person, you should first check the eligibility as stipulated on the website.
Once you have checked your eligibility, you can start your registration as an Authorised Peron, Independent Financial Associate (IFA), or investment associate.
You can register for the ICICI Direct Franchise from the company’s website.
Also, you can upgrade from one level to another to comply with the requirements.
Earning the potential of an ICICI Direct Partner / ROI
The revenue-sharing model of ICICI Direct allows the franchiser to earn 50-75% of the revenue generated by trading their clients.
By making the initial investment with the entity, you register for a lifetime of earnings through the brokerage charges on the clients.
ICICI Direct Authorised Person – Products Offered
ICICI Direct is a full-service broker and has every type of financial product to offer the customer. You and your clients can invest in Equity, mutual funds, derivatives, commodities, TIP, SIP, insurance, loans, etc.
ICICI Direct gives you access to all the features which will be helpful in your every trading. You can open a 3-in-1 account with ICICI Direct. These three accounts include a bank account, a Demat account, and a trading account.
What are the Customer Ratings of ICICI Direct Authorised Person Program?
The aforementioned chart shows ICICI Direct franchise ratings. We’ve rated the franchiser on mainly 5 categories. And, each category is rated on a scale of 1-5.
Here’s how the franchiser performed: -They have received
- 3.0/5 for their revenue-sharing strategies.
- 2.5/5 for their security deposit requirements.
- 3.5/5 for their experience.
- 2.5/5 for the offers they come up with.
- 3.6/5 for the trading platforms they use.
- On the whole, they’ve received 3.23/5 as a financial franchiser.
|ICICI Direct Franchise Customer Ratings|
|Find Client Ratings & Reviews against multiple parameters for ICICI Direct|
|According to Revenue Sharing Model of the Franchisor||3.00 / 5|
|Ratings as per Security Deposit provided by the company||2.50 / 5|
|As per Experience in the Sub Broker Business||3.50 / 5|
|As per Offers provided by the Broking Franchise||2.50 / 5|
|Ratings as per Mobile Trading App & Trading Platforms||3.60 / 5|
|Overall Ratings of the Sub Broker Franchise||3.23 / 5|
ICICI Direct Franchise Conclusion
We’d say that you can trust ICICI Direct as a franchiser. They rate more than the average franchiser. Therefore, you can completely trust our verdict as well.
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