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Upstox Franchise or Sub Broker Review – Cost, Commission, ROI & more

Upstox is a rapidly growing discount stock broker. Now, it has become the 4th largest broking house in India.

Upstox Partner LogoAlso, the famous business person Ratan Tata has invested in Upstox. The excellent growth of Upstox Franchise Service is the result of bringing a unique brokerage concept.

That broke all barriers and attracted new clients from diverse financial backgrounds. Founded in 2011, it now has more than 3500 franchises across India.

As a result, becoming an Upstox Partner is an effective option for financial well-being.

Brand Summary
Line of Business Sub Broker
Unit / Shop Area Not Required
Commission% / Revenue Sharing 30% – 50%
Total Investment Zero – Rs.3,000
ROI Timeframe 1 Month

Why Invest in Upstox Franchise?

Investment-Friendly: Unlike traditional franchises, Upstox requires no initial investment. So, an Upstox Sub Broker Benefits from the total revenue they make.

They only need to submit Rs.3,000 as a franchise fee and minimal infrastructure investment.

Lucrative Earning Potential: An Upstox partner gets 30% to 50% of the brokerage produced by their clients.

The more their clients trade, the higher their earnings potential. Also, they can earn from the referral commission for every new client gain.

Best Technology Support: It offers cutting-edge trading platforms. That empowers traders with a seamless and classy trading experience.

The Upstox Pro and Upstox Pro Mobile apps attract tech-savvy investors for their lucrative interface.

What do you know about Upstox Sub Broker?

About the Brand
Industry Finance & Money
Business Line Sub Broker
Organization Type Private
Head Office Mumbai
Founder Raghu Kumar, Ravi Kumar
Founded In (year) 2011
No. of Franchise Outlets 3500+
Master Franchise Model Not Available
Franchise Tenure Lifetime
Franchise Location All over India
Business Set-Up Time 1 Month
Franchise Commencement Year 2013

The world of finance thrives on connections. The primary purpose of an Upstox Sub Broker is to acquire new clients under their fold.

So they can grow their client base. Also, sub-brokers need to keep their clients active. So, they trade on a daily basis and generate brokerage.

However, sub-brokers must ensure their clients make profits in the stock market. Else, they will lose their interest and stop trading.

Thus, they must have a strong understanding of market dynamics. Their dedication, client service, and market knowledge are the keys to unlocking colossal earning potential.

How many types of Upstox Franchise Models available?

Business Models
Partner 30% – 50% + Rs.300 per new Client acquired
Referral Upto Rs.700 per new Client acquired

The discount broker provides two business models.

Upstox Sub Broker Model

The primary mission of an Upstox Sub Broker or partner is to attract new clients. Also, they educate them about the different stock trading options.

So they can achieve their financial goals. In fact, partners work as the financial guide to their clients. Moreover, they look after all regulatory needs so their clients can focus on trading.

They earn from the shared revenue on their total brokerages. Due to low initial investment, anyone interested in the stock market can work as an Upstox partner.

However, they need to have a good client base.

Upstox Refer and Earn

Upstox also offers a good incentive of Rs.700 for every new referral. It is known as the Upstox Refer and Earn program.

However, to get the referral benefits, applicants first need to register in the Upstox portal. From their partner dashboard, they will get a referral link.

Once they share it with future clients, they will get their incentive. It is a good earning option for those who want to work freely.

Also, there are no caps for referrals. So, in this model, partners can earn the more they can refer. It’s a golden earning chance for financial influencers.

What is the Upstox Franchise Cost?

Investment by Franchisee
Partner – Franchise Fee Rs.3,000
Referral – Franchise Fee Zero
Infrastructure Investment
Zero – Rs.30,000

The most exciting factor for opening an Upstox franchise is its minimal initial investment. The only Upstox Franchise Cost a partner needs to pay is Rs.3000 for regulatory purposes.

So, anyone can kickstart their stock market journey without a hefty financial burden. That makes it the most attractive option for aspiring sub-brokers.

Also, they won’t require an office setup. Anyone can start their business with a phone line and computer with an internet connection under Upstox.

Thus, infrastructure costs are also minimal. For this reason, Upstox partners can utilise most of their earnings because of the low initial cost.

How much is Upstox Sub Broker Commission?

Commission% / Revenue Sharing
Partner Commission 30% – 50%
Upstox Commission 70% – 50%
Referral Commission
Rs.400 – Rs.750 per Client
Upstox Commission 100%

A sub-broker earns from their shared revenues on total brokerage. Overall, the Upstox Partner Commission varies between 30% to 50%.

Initially, they get 30%. And with the growth of their trading volume, their shared revenue becomes 50%. So, on average, an Upstox partner gets around 40% of their brokerages.

Moreover, it offers a referral incentive of Rs.300 per new client. However, for the referral model, the incentive can go up to Rs.700 per new client.

So, partners can earn more if they continue to acquire new traders. This way, building a strong client base and daily active trading will maximise an Upstox partner’s earnings.


How much you can earn from Upstox Partner Program?

Monthly Revenue, Profits & Profit Margin
No. of Active Clients 300
Daily Trades per Clients 4
Brokerage per Trade 20
Trading Days in 1 Month 15
Total Brokerage Revenue 3,60,000
Partner’s Share 1,44,000
Monthly Expenses
Office Rent (Co-working Space) 15,000
2 Telecallers Cost 20,000
Misc. Expenses 5,000
Total Cost 40,000
Monthly Net Profit
(Revenue – Expenses) 1,04,000
Profit Margin 29%

Upstox Partner Profits from the revenue sharing ratio on the total brokerage they make. For example, if an Upstox partner has 200 active clients and processes Rs.1500 brokerage monthly on average.

So, the real brokerage will be Rs.3,00,000. As per their average revenue sharing, partners get around 40%. So, their daily earning will be Rs.1,20,000.

Also, partners get Rs.300 for every new client acquisition. Thus, if a partner can recruit 50 new clients monthly, they will earn Rs.15,000.

Moreover, they can utilise most of their earnings due to the minimum infrastructure cost.

How much time does it take for Upstox Franchise to breakeven?

ROI Timeframe / Breakeven Time
In Years 1 Month

Every business owner seeks a quick return on investment. Due to a meagre initial investment, it takes only one month for Upstox Sub Broker Returns.

So, partners can make profits from the Upstox franchise right after a month of starting their businesses.

However, the breakeven time depends on the performance. So, anyone can achieve it faster with rapid client growth and daily stock trading volume.

Thus, the Upstox franchise offers a huge earning opportunity for dedicated partners.

Where is Upstox Franchise Dashboard Login Link?

Dashboard Login
Partner / Sub Broker Backoffice or Dashboard Login

The dashboard login link is available on the Upstox website and mobile app. However, candidates must first register in the portal to log in to the Upstox Partner Dashboard.

First, they need to check their eligibility to become partners. Then, they must apply for the digital registration process and submit documents.

Once registered, they will get their user IDs and passwords to log in to the all-in-one partner dashboard.

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What is the Upstox Franchise Infrastructure requirement?

Infrastructure Required
Shop / Unit Area Not Required
Employee Strength Not required
Research / Advisory Optional
Trading Terminals Set-up Optional
Telephone Lines Compulsory
Computer / Internet Connectivity Compulsory
Air-conditioner Optional
CCTV Set-up Optional

Computer and Internet: The primary need is a computer with a steady internet connection to run an Upstox Franchise.

Nowadays, stock trading is an online process. So, without a laptop, partners cannot see the stock prices.

Also, it provides trading software to buy and sell stocks and monitor vital financial factors.

Phone line: Phone connection ensures seamless connectivity with the broking house and clients. Also, the partner must ensure a steady network so they never go offline.

Optional Requirements: Apart from phones and computers with internet connections, franchises have some optional requirements.

Such as office areas, employees, research or advisory services, trading terminals, etc. However, an office setup helps to acquire new clients effectively.

So, partners who want to grow their business rapidly can set up a sub-broking office. However, installing AC and CCTV cameras is optional.

What is the extent of Support provided by Upstox Partner?

Support from Brand
Service Pricing Available
Offers Available
Client Interaction Training Available
Relationship Manager Support Available
Back-Office Support Available
Trading Support Not Available
Advisory Support Not Available
Marketing Support Available
Business Management Software Available
Website Support Available
Operation Manual Available
Training Manual Available

Product Details and Pricing: An Upstox Subbroker gets the details of stock market products, their prices, and offers.

This helps them understand their clients’ needs and suggest the perfect trading option.

Client Interaction Training: It helps the partners interact with their clients. Proper communication keeps their clients happy, and it can attract new clients to the business.

Relationship Manager Support: Upstox provides its partners with dedicated RMs like other stock brokers. They answer all their product-related queries. Also, provide personalised guidance.

Back-Office Support: It helps partners clear deliveries and funds and shows their stock trading accounts after a certain interval.

Marketing Support: Upstox offers full marketing support, including unit, local, and TV ads. It also provides digital marketing and promotional support.

What kind of Marketing Support is provided by Upstox Franchise?

Marketing Support by Brand
Unit Interior & Exterior Ads Available
Local Advertisement Available
Digital Marketing Available
Television Advertisement Available
Prints Advertisement Available
Events/Seminars Available

An Upstox Authorised Person gets full marketing support from the broking houses. Upstox offers interior and exterior ads in the sub broking office area.

Also, they provide local and TV ads. So partners can grow their client base locally. Moreover, they get all-inclusive digital marketing support.

It helps partners attract new clients from online platforms. It also offers print ads and promotions for events and seminars to ensure complete success.

Does Upstox Sub Broker provide training?

Training by Brand
Product Information Training Provided
Dealers Training Not Provided
Service Training Not Provided

An Upstox Affiliate Partner gets full product and service training from the broking house. It gives them a clear conception of the available equity, commodity, or currency stocks.

So they can guide their clients regarding the process and prices perfectly. Also, Upstox delivers client interaction training to its partners.

So they can communicate with their clients properly. This establishes a good relationship and trust among the partners and their clients.

Furthermore, it offers a training manual and a dedicated RM. They help partners clear any confusion related to stock trading anytime.

What are the Products & Services provided to Upstox Sub Brokers?

Products / Service Offerings
Equity Trading Available
Commodity Trading Available
Currency Trading Available
Options Available
Futures Available
Mutual Funds Available
Banking NA
Insurance NA
Demat Services Available
3 in 1 Acount NA
IPO Services Available
Stock Recommendations Available
Robo Advisory NA
Exposure or Limit Available
Mobile App Available
Web Trading Platform Available
Trading Terminal Available
Algo Trading Platform Available
Basket Trading Available

Clients can trade all types of stock and shares through their Demat accounts at an Upstox Franchise. It offers all-inclusive stock market services.

That is, equity, commodity, currency, options and future stock trading. Also, clients who want to trade large amounts of stocks at a time can go for basket trading.

Moreover, Upstox provides mutual funds for clients who wish to minimize the risk of stock market trading. Also, clients can purchase IPOs from Upstox franchises.

It offers good exposure for intraday trading. So, clients can maximize their profit from their limited assets. Stock recommendations are also available to help them find and invest in trendy stocks.

It offers a web trading platform, trading terminal and Algo trading platform. So clients can observe stocks and trade at their convenience.

Moreover, tech-savvy clients can use the Upstox mobile app for stock trading.

What is the Brokerage offered to Upstox Portfolio Partners?

Brokerage Charges
Intraday Rs.20 per trade or 0.01%
Delivery Zero
Equity Options Rs.20 per trade or 0.01%
Equity Futures Rs.20 per trade or 0.01%
Commodity Rs.20 per trade or 0.01%
Currency options Rs.20 per trade or 0.01%
Currency Futures Rs.20 per trade or 0.01%

Partners get a flat brokerage per trade. However, brokerages in Upstox are pretty low. Hence, it attracts many clients to invest.

The brokerage an Upstox partner gets is Rs.20 per trade or 0.01% of the trading volume. That includes intraday, equity, commodity, currency, futures and options trading.

However, for stock delivery, the charges are free. So, it is the best opportunity for clients to make the most money from their profits on stock trading.

Also, partners can earn handsome revenues as clients perform more trades due to low brokerage. So, it is a win-win situation.

Where partners and clients both have a good chance for substantial financial gain.

How to Become a Upstox Sub Broker?

Eligibility Check: To Become an Upstox Sub Broker, applicants must be over 21 years old. And Indian citizens. They must complete graduation. Also, prior business experience is required.

Application: Once eligible, applicants must visit the Upstox website to apply for work as sub-brokers. It only accepts online applications.

They must click the “Partner with Us” or “Become a Partner” option. Then, they must enter the details: name, email ID, phone number, location, and PAN.

Payment and Verification: The next step is payment of initial fees. Also, Upstox will verify the applicants’ mobile number and email ID through OTP.

Upload documents: Applicants need to upload a copy of their Aadhar, PAN, TAN, GST registration, address proof, franchise agreement, and photo.

They can manually upload them or use applications like DigiLocker to upload their documents.

Upload IPV Video: Applicants must also upload an In Person Verification (IPV) video following the instructions.

Scrutiny and Onboarding: After submission of docs and IPV video, authorised persons in Upstox will thoroughly verify them.

Once all are accepted, applicants will get their login ID and password. So, they can start working as sub-brokers of Upstox.

What is the Eligibility Criteria to start Upstox Franchise?

Franchisee Qualification
Age Limit 21 years & above
Business Experience Required
Academic Qualification Graduate

Which documents are required to become Upstox Sub Broker?

Documents Required
Franchise Agreement Required
Proprietor Aadhaar Copy Required
Proprietor Photo Required
Proprietor / Business PAN Copy Required
Business TAN Copy Required
GST Registration Certificate Required
Proprietor / Business Address Proof Required
Unit / Shop Address Proof Required
NOC of Unit / Shop Required

Is Upstox Franchise good for you?

Franchise Ratings
Revenue Sharing 9.44 / 10
Franchise Fee & Infra Investment 9.30 / 10
Support & Training 9.02 / 10
ROI Timeframe 9.16 / 10
Brand Value 9.10 / 10
Overall Ratings 9.20 / 10

What are the Drawbacks of Upstox Franchise?

Business Model: Upstox only offers two business models: partner and referral models. This is one of the prime Upstox Franchise Drawbacks.

Partners who want to expand their business and recruit a team don’t have options.

Flat Brokerage: The brokerage Upstox charge is flat Rs.20 for every stock trading. No matter how much volume of trade partners can process, they will get brokerages on their number of trades.

This is beneficial for clients and not for partners.

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Upstox Partner Program – Conclusion

For people who want to empower others to achieve their financial goals, the Upstox Partner Program is the best option for them.

As one of the largest discount stock broking houses, Upstox has a good brand reputation. So, it makes it easier for partners to acquire new clients.

Also, if anyone is interested in stocks and can plan carefully, they can become successful soon. Above all, a client-centric focus is the key to becoming successful Upstox Sub Broker.

The broking house provides all necessary assistance to increase profit and revenue.

FAQs on Upstox Franchise Business

Here are various FAQs related to the Upstox Sub Broker Franchise Business.

Does Upstox have a Sub Broker Model?

Yes. Upstox has only one sub-broker or partner model. Any 21-year-old Indian graduate with experience in the finance market can apply to become an Upstox partner.

Does Upstox have multiple Franchise models?

No. Upstox has only one franchise model. That is, Upstox partner model. Also, it offers a referral model for those who want to earn freely from referring new clients.

What is the Upstox Sub Broker Commission?

Upstox sub-brokers earn from the shared revenues on their brokerages. Based on their performance, they get 30% to 50% of revenues. Also, they get Rs.300 for every new client acquisition.

How much does Upstox Franchise Cost?

Opening an Upstox franchise doesn’t require much upfront investment. Applicants must pay a minimal franchise fee of Rs.3000.

To start their business, they only need a phone and a computer with an internet connection.

Does Upstox have a Partner Program?

Upstox only has one partner program. They are responsible for client gain and guiding them for successful stock trade. Sub-brokers or partners get revenues from their brokerages.

What is Upstox Partners Sharing?

Partner sharing means the ratio of brokerage that will be divided between the broking house and partners.

In Upstox, partners get 30% to 50% revenue they generate. The more brokerage they process, the more they can earn.

Is the Upstox Partner Program Free?

Joining the Upstox partner program is almost free. There is only a minimum initial fee of Rs.3000. For infrastructure, a partner only needs a phone and a computer with an internet connection.

Does Upstox provide Training Assistance?

Yes. Upstox delivers thorough product information training to its partners. Also, partners get client interaction training. So they can communicate with their clients seamlessly.

How to Become an Upstox Sub Broker?

Aspirants who want to become sub-brokers must apply online on the Upstox website. They must then submit documents, an IPV video, and initial fees.

Upstox will scrutinise their application and register them as partners.

Does the Upstox Franchise provide Support?

Yes. Upstox offers several supports to help its partners make a good revenue. That includes training, marketing, RM, website and back-office support.

They also get business management software for ease of trading operations.

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