ICICI Direct Franchise Review – Sub-Broker, Authorized Person & Program

Last updated on: January 10, 2024

ICICI is a renowned banking group in Indian subcontinent and offers a wide range of financial products & services to both retail and commercial users. ICICIdirect is the stock broking arm of the ICICI Group which primarily caters to retail brokers who can choose to invest in stocks and other financial instruments easily and effectively through various trading platforms by ICICI Direct.

In addition, ICICIdirect also offers franchise opportunity to those who want to be their own boss. If you are doubtful about taking up this opportunity, here is a comprehensive ICICIdirect franchise review that would help you decide whether you should go with it or not.

This ICICIdirect franchise review is meant for all those who are looking for a fabulous franchise opportunity from a reputed brand and earn good commission by attracting more clients to the business. 

About ICICI Direct Franchise

It was the year of 2003 when ICICI Direct launched the ICICI Direct Franchise program. It quickly became popular among the populace, and many businesspeople signed up to become sub-brokers. ICICI now has approximately 1050 offices spread all over India, including in Tier I and Tier II cities.

ICICI or Industrial Credit and Investment Corporation of India is one of the largest financial services companies in India. The company’s registered office is in Vadodara, however its corporate headquarters are in Mumbai. A subsidiary of ICICI, ICICI Direct is a financial trading firm and full-service stockbroker with a bank backdrop. For both Indians and NRIs, the firm offers one of the greatest trading programs.

Mr. Vjay Chandok, the organization’s founder, is mostly responsible for their creation.

They have been providing services to various customers since 1994. Additionally, they have concentrated on improving their services ever since they were founded.

ICICI Direct Franchise – Snapshot

Company type Public
Broker type Full Service Broker
Headquartered in Mumbai, India
Founded Vjay Chandok
Year of establishment 1994
Days required for SB Code Activation 14 Days
Days/weeks for Payout 30 Days

Through ICICI Direct, ICICI provides online trading and investing products to a sizable population. The ICICI Directs website, ICICIDirect.com, provides a comprehensive array of financial goods and services. Online equities trading, derivatives trading, mutual fund investments, IPO investments, fixed deposits, bonds, NCDs, wealth management services, home loans, and even loans against securities are among the items provided by ICICI Direct.

They provide their clients and partners a wide range of services, such as advice services, trading services, stock market education services, and much more.

With the sub-broker program’s success, ICICI Direct introduced the Investment Associate progam in 2012, which also garnered a lot of interest. A well-known brand in the banking and financial sector is ICICI. Therefore, having the opportunity to work with them is a step that everyone can take to succeed.

Benefits of ICICI Direct Franchise

First the foremost, ICICI is a prominent name in the Indian financial sector which means it is easy to rely on it when it comes to securing an opportunity. Second, the banking group offers a plethora of lucrative products & services to its clients which simple means selling their products to potential clients in today’s competitive marketplace. 

  • Reputed brand name

The main benefit of working as an ICICI Direct Franchise partner is that you will become known for a well-known company. As was already said, ICICI is one of the top 3 financial merchants in India, and they have since expanded internationally.

As a result, when you begin working with ICICI Direct, you become a part of the reliable ICICI Direct Franchise.

  • Excellence in Research

The firm is results-driven, and they have an award-winning research team that develops the most cutting-edge methods and tools to make you the best in your field. Daily reports on derivatives, intraday calls, currency strategy, momentum choices, etc. are included in this research.

  • Knowledge programs

Before starting your own business, the ICICI Knowledge Program assists in laying a solid foundation by teaching you all you need to know about trade and money. All partners and merchants are eligible for this program.

  • Plethora of products

They provide trading in a wide variety of goods and services, including stock currencies, derivatives, exchange-traded funds, and much more. There is therefore a large sector for you to work in and make some money.

  • Full-fledged support

The big size allows them to give you access to all the tools you need to launch your company and succeed as a broker over the long run. Even if you are new to the industry, they have partners that can follow your growth and support you along the way.

ICICI Direct Franchise – Business Models

ICICI Direct franchise has two business models including:

  1. Sub Broker / Authorized Person
  2. Partner Program / Remisier

 

  • ICICI Direct Sub-Broker/Authorized Person

The role of an ICICI Direct authorized person is to provide services to the vast customer base of ICICI Direct as well as to independently develop their own customer base with the help of the ICICI Direct team. The sub-broker can trade a wide range of goods and services.

As an ICICI Direct Franchise, you may be required to do the following duties:

  • Recruit new trading clients, provide for their needs, and support them with their transactions and investments
  • Managing risks for your clients
  • No back-office maintenance is necessary
  • Assist consumers in resolving problems within the allotted time.

Benefits of Becoming an ICICI Direct Franchise/Sub-Brokership/Authorized Person

  • Opportunity to rely on a reputed brand name that can help attract a ton of clients both online and offline.
  • The banking group will supply all of the marketing materials, including business cards, posters, banners, instructional materials, booklets, and much more.
  • Events will be held to promote your ICICI Direct Franchise and bring in business.
  • The ICICI Direct support staff will take care of all technical support and security services.
  • According to the terms of the contract with the business, ICICI Direct Franchise Investment would split the profit in a 60:40 or 70:30 ratio.
  • You may trade in equity, IPOs, derivatives, GOI Bonds, mutual funds, and infrastructure bonds with the ICICI Franchise.
  • The process for opening an ICICI Direct Account is very straightforward.
  • ICICI Direct Remisier

A remisier or an investment associated in an individual who refers customers to the business and receives compensation when those customers trade with the business or sign up as long-term paying customers. A person doesn’t need to do much to become an investing associate.

Benefits of an ICICI Direct Remisier

  • Easy way to use the company’s reputation to your advantage and make money. This will assist you in building clientele and the trust of customers.
  • For each client you refer to the business, you receive 30% of the revenue.
  • Learn from some of the most well-known and knowledgeable people in the field through free training and educational opportunities. The training component consists of product training, system training, compliance training, and induction training. 
  • There is no requirement to set up an infrastructure, so you may work from anywhere.

Eligibility Criteria for ICICI Direct Franchise

If you want to be a part of ICICI Direct franchise, you would have to meet the following conditions. 

  • You should have at least 10+2. Marketing and finance graduates are given priority.
  • A minimum of three years’ worth of experience in India’s financial sector.
  • The applicant must be able to create profitable commercial contacts in the region.
  • All the necessary paperwork for registration and permission. 
  • The candidate must be at least 21 years old.

ICICI Direct Franchise – Infrastructure Requirement

Even having a certain company infrastructure is required to follow the requirements outlined by ICICI Direct. The remisier is not compelled to build these infrastructures, though.

The only people who must use these are the sub-brokers. They assist the partners in their regular company operations. Additionally, these infrastructures even guarantee the franchiser’s corporate integrity.

Therefore, ICICI Direct’s sub-broker infrastructure needs consist of:

  • The sub-brokers are obliged to establish their own offices that must have at least 300 square feet of carpeting.
  • One goal of the sub-brokers is to hire proactive people. And five employees are the bare minimum needed.
  • A working internet connection is a must for sub-brokers. To support concurrent online trading, the connection needs to be robust. It must even facilitate ongoing, uninterrupted regular communications.
  • The telephone connection for the sub-brokers must be functional. This is necessary for some “trades-over-call.” even facilitates conversation.
  • The research services of the sub-brokers are intended.

ICICI Direct Franchise – Brokerage Charges

In regard to the charges levied to the clients, ICICI Direct franchise partners are subject to a number of constraints. They have thus developed a special table of fees that will be incurred.

The cost of providing all kinds of intraday equities trading services is Rs 20 per order.

  • Equities delivery trading services, 0.55%%.
  • Stock options costs Rs 20 every order.
  • Currency option trading services, Rs 20 per order is charged.
  • Equities futures trading services, Rs 0 (Free) is charged.
  • Currency futures trading services, it costs Rs 20 each order.

The Conclusion – ICICI Direct Franchise review

It can be easily ascertained from this ICICI Direct Franchise review that trading with the ICICI Direct firm is a wonderful business opportunity for those who are interested after looking at all the characteristics of the firm in this ICICI Direct Franchise Review.

This might end up being one of your largest business opportunities if you are able to pay the first ICICI Direct Franchise Cost necessary upon registration and satisfy the ICICI Direct franchise criteria. ICICI Direct is a big name in the stock broking sector and offers unparalleled business opportunities to those who have the capability to leverage the prominence of ICICI brand. 

FAQs

How much can I earn from ICICI Direct franchise?

The franchiser might get between 50 and 75 percent of the profits made by trading their clients according to ICICI Direct’s revenue-sharing scheme.

How to register for ICICI Direct franchise?

To become an authorized person and receive the advantages, it is imperative to satisfy the qualifying requirements outlined by ICICI Direct on their official website. 

You can start your registration as an Independent Financial Associate (IFA), Authorized Person, or associate after your eligibility has been confirmed. On the organization’s official website, you may sign up for the ICICI Direct Franchise. The franchise aspirants might also level up to satisfy the requirements.

What is ICICI Direct franchise referral scheme?

For ICICI Direct Authorized Persons, ICICI Direct has also developed a new referral mechanism. Simply recommend a brokerage business to friends, relatives, acquaintances, or anybody else who needs one.

When the person you recommended establishes an ICICI Direct account, you will receive Rs. 100, and you will receive an additional Rs. 400 when they make their first transaction.

What is the minimum investment limit for ICICI Direct?

There is no minimum investment limit on ICICI Direct. However, to avert the fine, it is recommended to maintain a minimum sum of Rs. 5K in the account. 

What is the status of external support provided by ICICI Direct?

ICICI Direct offers a range of forms of substantial support to its franchisees. It offers assistance with marketing and training after providing assistance with franchise formation.

Does ICICI Direct provide training?

Depending on what the franchisor demands, there is a range of investment costs here. This is not a set sum, as the Franchisee makes money from a variety of sources.

The required investment will thus fall between INR 25,000 to INR 2 lac. The sub-broker’s traded items are one of several elements that affect the ultimate sum.

What is the commission for ICICI Direct Sub broker?

On the ICICI direct sub-broker models, a fee of 50 to 75 percent is charged. According to this percentage, the franchisor will keep between 50% and 25% of the profits.

Since you may keep up to 70% of your earnings, this ratio is optimal.

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