Zerodha Sub Broker Ship Review – Franchise, Authorised Person, Partner Review


Zerodha franchise or the Zerodha Partner Program is also termed as Zerodha Sub Broker doesn’t need any introduction. But, before we proceed, it will be good to put some lights about them.

The Zerodha Sub Broker came from Zerodha, which is a SEBI registered discount stock broker firm in India.

In the stockbroking sector, they facilitate one of the lowest brokerage tradings and investing along with maximum benefits given to their customers.

Zerodha came up with a unique concept of rather spending money on advertisements, they came up with the idea of sharing the money within their clients which they call Partner Program, who are nothing but Zerodha’s clients.

Started in the year 2010 on 15th. of August in Bangalore, their innovative business policies.

Techniques along with pricing policies, made them the second biggest stock broking company in terms of retail client share and stands at number one, considering the volume of trade they are engaged with the stock exchanges.

Today, Zerodha sub-broker has over 10 lakhs client base with over 1,000 employees, and possess multiple offices (offline centers) in various cities where anyone can visit and open a trading account.

Zerodha Sub Broker Ship
Zerodha Sub Broker Ship

Zerodha Sub-Broker plan | Franchise | Partner

There are two types of models available in Zerodha sub-broker plan:

  • Partner or Remisier
  • Client to Client Model

1. Associate Partner or Remisier Program

Soon after the launch of this program in the year 2015, it became so favorite and popular to all that the company acquired nearly 1000 partners.

In this lucrative program, the partner or the register doesn’t need to invest a single penny to enroll themself, nor do anyone need any office space.

The motto of this program was revenue sharing, where the partner or the register gets a percentage of revenue against newly traded clients to Zerodha.

This revenue sharing was completely based on different slabs ranging from 30% to 50%.

2. Client to Client Model or Referral Program

This model is very plain and simple where any Zerodha client earns by referring anyone to open a Zerodha Demat Account and straight away takes 10% revenue sharing without any extra fees charged.

Zerodha Patner/Sub-broker/ Franchise Commission and Incentive – Revenue Sharing Model:

Zerodha sub broker’s process of revenue sharing is quite simple and flexible. The share of the revenue given to the partner will depend on Zerodha’s income from the clients of the partner.         

Types Sub Broker Commission Zerodha Commission
Partner or Remisier Program 50% – 80% 20% – 50%
Client to Client Model 90% 10%

This means,

For Partner or Remisier Program:

  1. If the partner’s client generates up to 1 lakh brokerage, then the sharing % between Zerodha Partner and Zerodha will be 20% and 80% respectively.
  2. If the partner’s client generates brokerage between 1 – 3 lakhs, then the sharing % between Zerodha Partner and Zerodha will be 30% and 70% respectively.
  3. If the partner’s client generates brokerage between 3 – 5 lakhs, then the sharing % between Zerodha Partner and Zerodha will be 40% and 60% respectively.
  4. If the partner’s client generates brokerage over 5 lakhs, then the sharing % between Zerodha Partner and Zerodha will be 50% each.

For Client to Client Model:

In this model, the sharing % is 10:90 where the Zerodha sub-broker will always take 90% of the revenue generated.

Read Also: Zerodha Kite – An In-depth Analysis of Kite app, Kite 3.0 Web Trading Platform

Enroll or Registration process – How to Become a Partner/Sub Broker of Zerodha?

The process of becoming a Zerodha Sub Broker is very simple and the entire procedure gets completed in 3 days. Below discussed are the stepwise guide on how to become a Sub Broker:

1st Step – An online lead form needs to be filled with basic information like Name, Mobile Number, Email, etc.

2nd Step – A verification call from an executive will be received to verify the details.

3rd Step – The executive will also fix an appointment with Business Development / Sales Representative

4th Step – The executive will meet physically in person to explain in detail about the proposal and the model of working which includes revenue-sharing model, Brokerage charges, etc. along with Zerodha’s support process and way forward

5th Step – Post explanation and understanding of the business model, and agreement need to be signed along with the submission of documents for verification.

6th Step – Upon submission of agreement and documents, it will undergo via a verification process

7th Step – An account ID, which is also called Sub Broker or Partner code, will be generated and provided, post the verification process is through which can then be officially used as Zerodha’s Franchise code.

Read Also: Zerodha Kite Vs. NSE NOW: The Two Fastest And Elegant Flagship Trading Portals Compared

Eligibility Criteria of Sub Broker Ship, Franchise, Partner:

To become a Sub Broker/Partner/Franchise, or an Authorised Person in Zerodha sub-broker program doesn’t have too many constraints and complexity and is pretty simple.

As the entire process is governed by SEBI and Stock Exchanges, there are few simple eligibility checks like one has to be above 18 years old to become a sub-broker and online registration needs to be done.

In the case of Authorized Person to get associated with a stockbroker in Zerodha sub-broker program, any individual, a partnership firm, or LLP is permitted with all partners above the age of 18 and has passed 10th.

Standard in academic qualification without any criminal records is mandatory along with fair knowledge and understanding in the stock market with office space, required manpower, equipment, etc.

A registration form of the stock exchange for the related segment of the stock market is needed. However, one can opt for multiple segments like capital market, currency, futures, etc.

Open Demat Account

Joining Cost/Fees of Sub Broker Ship, Franchise & Partner, and Zerodha Authorised Person

To become an Authorized Person, a joining fee is needed along with the application form. For NSE, the joining fee is Rs.2,000 and in a similar range in case of BSE which excludes any taxes or GST.

Cost requirements or security deposit for different business models in Zerodha’s Franchise:

What is the security deposit required for Sub Broker Program? Nil
Does any security deposit needed for the Referral Program? Rs.1,500
Is there any initial investment needed for Master Franchise Model? Nil
Is there any deposit needed for the Partner / Remisier Model? Rs.11,000

Basic Documents required:

To go through the process, Zerodha sub-broker needs to submit the below documents to the exchange for verification and approval:

  • A copy of undertaking duly signed about the willingness to serve as per regulations
  • An agreement copy signed between Authorized Person and stockbroker as described in the format prescribed
  • Copy of Aadhar Card
  • Copy of PAN card
  • Proof of Date Of Birth
  • Proof of Address
  • A Copy of academic qualification certificate
  • 2 Copies of Passport size Photograph
  • Cancelled Bank Cheque

Read Also: Zerodha vs 5Paisa: Platforms, Brokerages & Support|The Better Choice?

Zerodha Sub Broker Pros And Cons

Pros and cons are part of every business model. However, balancing them with client satisfaction is an art.

Pros in the Partner or Remisier model:

  • No security deposit is required to become a Partner
  • One doesn’t need any expenses for setting up any office or infrastructure
  • A flexible revenue sharing model available concerning brokerage generated


The models are designed in such a way that there seem to be very fewer disadvantages. The only disadvantage is that, in the Partner and Remisier model, there is only the option to earn a maximum of 50% commission.

Open Zerodha Demat Account
Open Zerodha Demat Account


It can be very well concluded that the Zerodha sub-broker/partner/franchise has a very well defined process in place along with the provision of easy and flexible methods to earn commissions even without any investment and office infrastructure. It is however still the choice remains in the hands of the investor for decision making.

Zerodha Sub Broker Ship FAQs:

Q1. What is the investment needed to get a Zerodha Franchise?

In Zerodha sub-broker, a registration fee of Rs.1,500 needed for enrolment and is a one-time charge

Q2. What are the documents needed for obtaining a Zerodha Franchise?

  • Copy of Aadhar Card
  • Copy of PAN card
  • Proof of Date Of Birth
  • Proof of Address
  • A Copy of academic qualification certificate
  • 2 Copies of Passport size Photograph
  • Cancelled Bank Cheque

Q3. How long does it take time for the registration process?

The entire registration process usually takes 3 days of time

Q4. What is the percentage (%) of commission in Partner or Remisier Program?

The earning percentage varies from 30% to 50% depending on the brokerage earned by the discount firm

Q5. What is the percentage (%) of commission in Client to Client Model?

In the Client to Client model, a flat commission of 10% can be earned.

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Stockquantum was founded by Dharmendra Mukati in 2018. I am a Trader and Investor in the last 10 years. I am writing here about stock broker review, broker comparison, IPO investment, Crypto currencies, technical analysis, fundamental analysis, sub brokership, mutual fund, personal finance, and our experiences.