Upstox sub broker model is often counted amongst the most profitable business partnership models in the stockbroking industry. So, if you too want to have a shot at it and wonder How to become sub broker in Upstox. Well, here’s how.
Upstox, formerly known as RKSV is a discount stockbroker, providing a brokerage that is unbeatable across all segments in the industry.
Established in 2010, Upstox is registered with the Indian regulatory, SEBI.
Upstox is a Depository Participant of NSDL and CDSL and having an account with the stockbrokers allows traders the opportunity to trade in stocks listed on NSE, BSE, and MCX.
The discount broker offers the best in industry brokerage charges which have subsequently seen them attract a huge 12 Lakhs clients for their trading services.
The above stats point towards the huge potential that lies in a business partnership with the broker. So, in this piece, we discuss the complete process of how to become sub broker in Upstox.
Upstox Sub Broker Model
As for the Upstox sub broker model, there is only one method that an individual can associate with the broker. Details of which are as follows:
- Upstox Sub Broker Model or Upstox Remisier
Upstox Sub Broker Model is one of the most exciting business partnership models available across the whole stockbroking space in the country.
Here, the individual can earn in two ways. The first option is brokerage sharing, that is you earn from every transaction of your clients.
This means that your earnings lie with the number of transactions of the clients that you referred to Upstox.
The second option is referral based. Here you earn a commission on every client that you bring in to the stockbroker. The more referrals you make, the more is the commission that you earn.
In total, a sub broker can hope to earn a commission of 10% – 30% of the total revenue that the clients generate for the stockbroker.
Not only this, the sub broker will earn 10% every time any client referred by him carries out trade.
Read more, how to become a sub broker in mutual funds.
How to Become Upstox Sub Broker?
Upstox only offers one sub broker model and therefore limited business partnership opportunities. But for any business partnership deal to go ahead, you will first need to impress the broker with your business plans, objectives.
The sub broker registration process follows the below-mentioned steps:
- To become a sub broker in Upstox, you just need to provide the details – Name, Contact Number listed in the registration form attached below.
- We will arrange a call from a Upstox representative. You can discuss your business plans, objectives with them.
- In case they find your plan interesting, only then will they go ahead with the registration process.
- In case, they do, you will be provided with your Login ID upon submission and verification of your documents.
- The whole registration process takes up to 4 – 5 days. However, once the sub broker gets registered can start conducting business as soon as they receive their Login ID.
Upstox Sub Broker Eligibility
As such Upstox doesn’t have any sub broker eligibility criteria. Even a person from a non-finance background can become a Upstox sub broker.
There is no mention in respect to any educational requirements, professional backgrounds, etc.
The stockbroker is inviting all sorts of people from every background and has listed the following people who can partner with the sub broker:
- Finance Enthusiast – The person who has ample knowledge in finance-related matters.
- Internet Influencer – A social media star or influencer with a respectable fan base
- People Person – A person who is known to have a huge network of connections
- Self Starter – Self-motivated entrepreneurs who are looking for the right opportunity to begin their journey
Upstox Sub Broker Charges
Upstox sub broker charges are the fees that an individual will have to pay in order to register themselves as a Upstox sub broker.
Here is the complete list of charges levied by Upstox:
Upstox Sub Broker Documents
The Upstox sub broker registration process requires a person to submit a few documents. The list of which is provided below :
- ID Proof – Any of the following can be used as ID proof – PAN card, Aadhaar Card, Passport, Driving License, Voter ID Card.
- Address Proof – Proof can be used where the address is mentioned – Aadhaar Card, Passport, Voter ID, Driving License, Electricity Bill, Phone Bill
- Educational Proof – Graduation degree certificate
- SEBI Registration certificate
- Passport Size Photographs
- Bank Account Details – Cancelled bank cheque
Upstox, previously known as RKSV Securities is one of the major discount brokers in the country. The Mumbai headquartered stockbroker was established in 2010 and has grown in reputation over years.
The active client of the stockbroker is an impressive 12 Lakhs which indicates the huge trust among traders, investors in the brand. Now, this indicates the huge potential in a business partnership with Upstox.
The discount broker offers only one sub-brokership model – The upstox business partner or remisier model which allows an individual to earn from referring Upstox to their connections and brokerage on every transaction made by the referred client.
As for your query – how to become sub broker in Upstox.
Well, the process is pretty simple and requires an individual to provide few documents and the whole registration process takes up to a max of 3 to 5 days.
The stockbroker openly calls upon finance crazed individuals, aspiring entrepreneurs waiting for the opportunity, social media influencers with a fair share of fan following, for a business partnership.
So, if you tick any of the above categories, you shall proceed to fill the below-mentioned form at the earliest. Just make sure that you fulfill the eligibility criteria.
In case you wish to become a sub-broker or a stockbroking business partner in any capacity, let us assist you in taking the next steps forward: