Best Stock Broker Partner in India – Top 10 Stock Broking Affiliate of 2024

Are you looking forward to enhancing your economic prospects? If so, associating with Best Stock Broker Partner in India is one of the innovative ways to become a valued part of the trading community and increase your wealth.

However, finding a Stock Broker Affiliate that suits your budget, needs, and preferences from so many options can be daunting.

Whether you are a seasoned stock trader or new to the financial world, the Indian stock market presents you with over 4,812 registered stock brokers.

These stock broking houses have different partner programs, eligibility criteria, commission shares, and investment requirements, confusing which partner program to opt for.

But fear not! We are here with the ten best stock broking affiliate providers.

Moreover, we have compared them based on different parameters to help you choose your ultimate stockbroking partner program.

Best Stock Broker Partner in India - Top 10 Stock Broking Affiliates in India


Top 10 Stock Broker Affiliates in India

Si. No. Brand
1 Angel One DRA
2 Motilal Oswal Digi Partner
3 Upstox Partner
4 IIFL AAA
5 Zerodha Partner
6 ICICI Direct IA
7 Kotak Securities Partner
8 5Paisa Partner
9 Espresso Partner
10 Paytm Money Partner

Investing in our top 10 stock broking program is an ideal way to make extra bucks while being your boss.

From Angel One to Paytm Money, these SEBI-registered stock broking houses are prominent names in the Indian financial sector.

Joining hands with these already-established Best Stock Broker Partner in India will allow you to leverage their top-notch brand value and make a name for yourself in the industry.

You can invest in any of three flexible affiliate programs, including partner program, sub-brokership, and refer & earn program.

Moreover, these companies offer diverse product lines, from equity and loan products to fixed-income products and commodities, to help partners acquire more clients.

Remember, the Stock Broker Agent can access advanced technological support to make your affiliate journey seamless.

After our evaluation, we found Angel One to be the top-ranking stock broking house in India, followed by Motilal Oswal Digi, Upstox, IIFL, Zerodha, ICICI Direct, Kotak Securities, 5Paisa, Espresso, and Paytm Money Partner.


Compare Best Stock Broking Partner in India

Brand No. of Partners Initial Cost Commission
Angel One 12,000+ Min. Rs.3,000 20% – 40%
Motilal Oswal 2,000+ Min. Rs.20,000 Flat 30%
Upstox 3,000+ Min. Rs.3,000 30% – 40%
IIFL 5,000+ Min. Rs.3,000 40% – 50%
Zerodha 5,000+ Min. Rs.11,000 30% – 50%
ICICI Direct 2,500+ Min. Rs.9,000 30% – 50%
Kotak Securities 2,000+ Min. Rs.27,000 30% – 40%
5Paisa 600+ Min. Rs.3,000 30% – 50%
Espresso 100+ Min. Rs.3,000 40% – 50%
Paytm Money 100+ Min. Rs.3,000 30% – 40%

We thoroughly evaluated multiple parameters to Compare Stock Broking Affiliate Programs and present you with the ten best options.

These parameters include number of partners, initial cost, and commission share. You can study these ten stock broking programs and choose the best based on your needs, financial goals, and budget.

Our evaluation shows Angel One DRA is the top-ranking stock broking partner program, providing a flexible commission model and cutting-edge support.

Next on the list are Motilal Oswal Digi, Upstox, IIFL, Zerodha, ICICI Direct, Kotak Securities, 5Paisa, Espresso, and Paytm Money Partner.



Angel One DRA

Angel One DRA program is the Best Stock Broker Partner in India in our list. One of the prominent names in the industry, Angel One, works with the highest number of partners, with figures ranging over 12,000.

Angel One LogoThe company is a market leader in the discount brokership field and caters to small and large traders and investors nationwide.

You might wonder what makes the Angel One partner program unique and better than others. Let us inform you that cutting-edge advanced technology is the backbone of the broking house.

As a partner, you can access an intuitive dashboard and back-office platform to manage your clients effectively and streamline administrative tasks.

Now, let’s head to the most crucial point of discussion- investment requirements and revenue sharing model. You will be surprised that our top-ranking stock broking firm doesn’t charge security deposits.

The firm only asked to pay a mere Rs.3,000 as exchange charges. In addition, if you decide to set up an office, your maximum expenses can reach Rs.30,000.

Furthermore, Angel One is one of the high-remunerating brokers whose revenue share ranges from 20% to 40%. Additionally, you are rewarded Rs.300 for getting each new client for Angel One.


Motilal Oswal Digi Partner

Motilal Oswal is ranked second in our list of Top Stock Broker Affiliate in India.

Motilal Oswal LogoHaving been in the industry for over 20 years in trading and investment, catering to over 500 cities, and working with over 2,000 partners, Motilal Oswal is one of the most reputed full-service brokers in India.

From sub-brokers to leading entrepreneurs of Motilal Oswal company, Mr Motilal Oswal and Mr Ramdeo Agrawal are the Indian stock market leaders.

Working with them as partners will help you capitalize on their brand value and reach a large group of clients.

They will offer advanced development ideas and top-notch support facilities to help you grow as a stock market broker.

Talking about affiliate cost, just like other stock broking houses, Motilal Oswal asks its potential partners for initial investment.

You must pay Rs.10,000 as security deposit, Rs.10,000 as exchange charges, and office expenses ranging from zero to Rs.30,000. Therefore, the upfront investment can vary from Rs.20,000 to Rs.50,000.

You can expect a flat 30% share in the company’s revenue in return for your investment. In addition, the stock broking house pays Rs.200 on acquiring each new client for it.


Upstox Partner Program

Upstox is one of the Best Stock Broker Agent Programs you can consider investing in.

Upstox LogoIt is backed by leading investors, including GVK Davis, Ratan Tata, and Kalaari Capital, making it a strong stock broking house despite being the new entrant.

Moreover, it’s a fast-growing discount broker, presenting its partners the opportunity to grow with the company’s growth.

Currently, Upstox is providing trading services in equity, commodity, and currency nationwide with the help of 3,000+ partners.

Another good thing about working with the company is that it provides a whopping commission of 30% to 40%, one of the best figures among new entrants.

In addition, you will get to earn monthly profits of approximately Rs.1,26,000 with a payout period of 30 days. You will receive Rs.300 on adding a new customer to the firm’s clientele.

However, to earn this lucrative revenue share, you must invest a minimum of Rs.3,000. Which again is an excellent deal.

The stock broker doesn’t ask affiliates to pay a security deposit, but office expenses range from zero to Rs.30,000.


IIFL AAA Program

Incorporated in 1995, IIFL AAA is the fourth Best Stock Broker Associate program for individuals with a limited budget.

IIFL Securities LogoCatering to traders and investors with over 4,000 branches in 900+ cities, IIFL is a well-trusted discount broker in India and is recognized for offering fast online trading.

Moreover, it has the second-highest number of partners (5,000+) in the country after Angel One.

Regarding the affiliate’s revenue share, you are entitled to a whopping 40% to 50% share in the company’s earnings.

The next best thing is that you are rewarded with Rs.250 as a commission for getting new clients. Moreover, your monthly profits can amount to Rs.1,20,000.

As discussed above, IIFL offers a budget-friendly partner program with upfront affiliate costs ranging from Rs.3,000 to Rs.33,000.

The investment doesn’t involve a security deposit but exchange charges of Rs.3,000 and office expenses of zero to Rs.30,000.

Therefore, IIFL allows its partners to make much money with a low investment.


Zerodha Partner Program

Zerodha is another Top Stock Broking Partner on our list. Catering to over 4 million clients nationwide with the help of over 5,000 partners, Zerodha is a prominent stock broking house.

Zerodha LogoThe company was founded in 2010 and popularized the discount brokerage concept in the Indian stock market.

If you are considering becoming Zerodha’s partner, you should prepare to pay a minimum of Rs.11,000 as a one-time exchange charge.

The good thing is the stock broker doesn’t ask for a security deposit. Moreover, if you open an office, your monthly expenses can reach Rs.30,000.

By investing in the affiliate program, you can expect to earn an incredible revenue share of 30% to 50%, which is relatively high compared to other stock broking houses.

In addition, your monthly profits can amount to Rs.1,05,000 with a payout period of 30 days.


ICICI Direct IA Program

Offering three flexible Best Stock Broking Affiliate programs – partner, sub-brokership, and refer & earn programs, the ICICI Direct IA program is featured on our list.

ICICI Direct LogoIt’s part of ICICI Securities and is armed by ICICI Group, the market leader in the Indian equity market.

The company enjoyed the number one position in terms of the most active clients until 2019, when Zerodha toppled them.

However, becoming an ICICI Direct partner is still one of the top choices among many candidates. ICICI Direct understands the needs of potential partners and, thus, targets the same.

It allows affiliates to earn maximum revenue by investing a minimum amount. You can earn revenue of 30% to 50% by investing a minimum amount of Rs.9,000.

In addition, ICICI Direct affiliates can earn Rs.1,09,500 monthly profits within one month by selling around 39 financial products to your clients.

The firm’s award-winning research team is here to provide valuable market-related insights, helping you provide top-notch trading assistance to the clients.


Kotak Securities Partner Program

The Kotak Securities partner program is seventh on the list of the Best Stock Market Partner programs in India.

Kotak Securities LogoIncorporated in 1994, Kotak Securities is a subsidiary of a renowned Indian bank i.e., Kotak Mahindra.

With its presence in over 360 Indian cities, the stock broking house is considered unconventional for delivering unique financial services to clients nationwide.

The firm is the first stock broker to introduce margin finance for IPO, online trading, and mutual fund investments over the phone SMS in India.

You must have a heavy pocket to join hands with Kotak Securities as an affiliate. The affiliate cost starts at Rs.27,000 for security deposit and exchange charges.

The good thing is it’s a one-time fee. In addition, your monthly office expenses can fall between zero to Rs.30,000.

In return for this little expensive investment, the company offers you an exciting revenue share of 30% to 40% and average monthly profits of Rs.73,840.


5Paisa Partner Program

5Paisa is another Best Share Market Partner in India for small businesses. It’s part of IIFL (India Infoline) and was launched to offer the cheapest stock brokerage in the country.

5Paisa LogoBesides trading in equity, the stock broking firm offers derivative trading contracts, commodity trading, personal loans, mutual fund investments, and insurance products.

Working with over 600 partners nationwide, the company is a fast-growing discount broker offering lucrative growth opportunities. 5Piasa is recognized for asking for quite reasonable affiliate costs or investments.

If you aspire to become an affiliate, you don’t have to think much about the acquisition, as it starts at Rs.3,000 with no security deposit. Furthermore, the maximum monthly office expenses can reach Rs.30,000.

Another significant benefit of becoming a 5Paisa stock market partner is a whopping 30% to 50% revenue share.

You can also add Rs.555 to your bank balance on getting each new client for the company. 5Paisa goes over the board with its partner commission, allowing them to earn a monthly profit of Rs.1,12,500.


Espresso Partner Program

Sharekhan’s brainchild, Espresso, offers one of the Best Stock Market Affiliate programs in India. It has come across as an amicable solution for all pockets.

Espresso LogoRegardless of whether you are new to the Indian stock market or a seasoned professional, you will enjoy working with Espresso as its partner.

Enrolling in the company’s affiliate program unlocks the opportunity to retail quite a decent income.

By investing an average of Rs.30,000, you can earn a target amount of Rs.70,500 monthly. Espresso’s partner cost entails exchange charges and office expenses but no security deposit.

Furthermore, Espresso is generous in rewarding its partners for their efforts. The company offers a 40% to 50% revenue share for the business affiliates bring in.

In addition, the company pays you Rs.300 as client acquisition income.


Paytm Money Partner Program

Finally, Paytm Money is also ranked in our Top Stock Broking Agent list. The company secured approval from the SEBI in 2019 to cater to the discount stockbroking industry, making it a new entrant.

Paytm Money LogoOver the years, Paytm Money has tried to establish itself as a one-stop trading platform. Although it’s a new entrant, Paytm Money has attracted over 100 partners to help deliver financial products nationwide.

Being the popular financial technology platform, the Paytm Money partner program is worth exploring. You can become an affiliate without paying any security deposit, making it easier to get started.

You must pay a one-time fee of Rs.3,000 as exchange charges and monthly office expenses fall between zero and Rs.30,000.

Heading to the best part, i.e., the partner’s earning potential, you can retain a share of 30% to 40% in the company’s revenue, which is quite remarkable compared to other new entrants.

In addition, you will earn Rs.250 on adding a new client to the firm’s clientele every time. Partners get a monthly payout of approximately Rs.88,750 as monthly profits.



What is a Stock Broker Partner Business?

Stock Broker Partner business involves partnering with different stock brokers and acquiring more clients.

The Stock Broker Affiliate functions similarly to brokers but mediates between two parties, i.e., the primary broking house and its clients.

In addition to getting new clients for the stock broking firms, stock broker affiliates assist the acquired clients in activities like trading, investing, and paperwork. In return, the partner receives a specific commission from the company.

For instance, suppose you bring 50 new clients, and the stock broking firm offers an average commission of Rs.1,200 for each new client.

In such a case, the total brokerage will be Rs.60,000. The company gives its partner a 40% share in the brokerage. So, your share will amount to Rs.12,000.


How to Become a Stock Broking Partner in India?

To Become a Stock Broking Partner, consider following these steps:

1st Step – Pick the right stock broker: The first step is to pick the best stock broker, depending on your needs and budget.

The above-discussed are the top ten stock broking firms offering the best partner programs in India. 

2nd Step – Check the eligibility criteria: Before proceeding with any of these stock broking firms, you should check whether you meet the eligibility criteria to become a partner.

You must be at least 18 years old Indian and pass 12th. In addition, open the Demat account with the chosen stockbroker.

3rd Step – Fill in the application form: Once you are sure you meet the eligibility requirements, it’s time to fill in the form below: “Become a stock broker partner.” 

4th Step – Submit important documents: After completing the application form, you can expect a call from the company’s representative. He will guide you as to what documents you must submit.

These documents can include a partner agreement, identity and address proof, bank account details, a cancelled cheque, passport-size photographs, and PAN.

5th Step – Transfer the payment: You must transfer the security deposit and registration fees online as your stock broking firm asks.

6th Step – Document verification: After transferring funds, your broker will verify your documents and send you the dashboard link, username, and password the next day.


Investment required by Stock Broker Partner

Just like every business venture, a stock broker partner business also requires an initial investment.

Stock Broking Partner Cost is among the two most vital factors influencing your decision to choose a specific partner program.

What does stock broking partner cost entail in India?

The investment required by the Indian stock broking companies usually pertains to security deposit, office expenses, and exchange charges, ranging between Rs.3,000 and Rs.30,000.

Now that some brokers don’t ask for security deposits, such as Angel One, Upstox, IIFL, 5Paisa, Espresso, and Paytm Money Partner, they ask for a minimum of Rs. 3,000 as an investment.

Kotak Securities is the highest investment-demanding broking house on our list.


Stock Broker Affiliate Commission or Revenue Sharing

Any candidate looks forward to becoming a stock broker partner to earn a lucrative commission.

Stock Broking Affiliate Commission is another vital factor that anyone should consider before opting for an affiliate program.

Therefore, almost every stockbroking firm offers impressive revenue shares to retain maximum partners.

Revenue sharing is all about giving a certain percentage of revenue to the partners or affiliates the broker earned from the clients acquired by an authorised person. Usually, the partner’s commission ranges between 20% and 50%.

Let’s understand how a partner’s revenue-sharing model works with the help of an example.

Suppose you are entitled to 40% of the total brokerage. You acquired 100 new clients for the stock broking firm that offers an average commission of Rs.1,000 for each new client.

In such a case, the total brokerage will be Rs.1,00,000, and your share will amount to Rs.40,000.


Best Stock Market Partner Program in India – Conclusion

If you are looking for an additional source of income and are aware of the stock market’s know-how, becoming a stock market partner is your best option.

But the thing is, when it comes to investing in the partner program, choosing the Best Stock Market Affiliate in India is crucial.

You will want to earn extra bucks but will have an affordable initial investment while accessing advanced technological support. In such a case, the above-listed top ten Indian stock brokers are your best choice.

We have thoroughly evaluated and reviewed these ten stock broking partner programs based on investment requirements, number of partners, and commission share.

This review will help you pick the best stock market affiliate program for your financial condition and needs.



FAQs on Top Stock Broker Partner in India

Here are various FAQs related to the Top 10 Stock Broking Affiliate Partner Program in India.

Which is the Best Stock Broking Associate Program?

In India, 4,812+ stock brokers are offering different associate programs. We have ranked the top ten sub-brokers in India, including Angel One, Motilal Oswal Digi, Upstox, IIFL, Zerodha, ICICI Direct, Kotak Securities, 5Paisa, Espresso, and Paytm Money Partner.

You can review them and choose the one that suits your financial goals and budget.

What are the criteria for becoming a Stock Broker Agent?

To become a stockbroker agent, you must be Indian, at least 18, and complete 12th.

How much does a Stock Broker Associate Business Cost?

The stock broker associate business cost usually ranges from a minimum of Rs.3,000 to a maximum of Rs.30,000.

How much commission is earned by the Stock Market Partner?

The stock market partner can earn a commission from 20% to 50%.

Is the Stock Broker Partner or Stock Broker Franchise the same?

No, the stockbroker partner and stockbroker franchise are different. The partner or affiliate works as an agent for the stock broking firms and acts under their name.

On the other hand, stock broking franchises carry the brand’s name, i.e., stockbroker, and functions under their license.

Which Stock Broking Partner Program offers the highest commission?

IIFL and Espresso partner programs offer the highest commission. Their commission can range from 40% to 50%.

Which Stock Broking Affiliate Program offers Zero investment?

No stock broking affiliate program offers zero investment. Angel One, Upstox, IIFL, 5Paisa, Espresso, and Paytm Money Partner ask for a minimum investment of Rs.3,000.

Do I need an office to start a Stock Broking Partner Agency?

Almost every stock broking firm requires its partner agency to set up an office.

Do these Stock Broker Partner Programs provide a dashboard?

Yes, the stockbroker partner program provides a dashboard to manage clients’ transactions seamlessly in real-time.

What is the earning potential in a Stock Broker Associate Business?

The earning potential in stock broker associate business entails revenue, commission on client acquisition, and monthly profits.