How to Become a Sub Broker with Upstox

If you’ve read about the amazing benefits of becoming a sub broker with Upstox and are excited to get started, let me make it easy for you in the following blog.

So let’s begin.

You can become a sub broker with Upstox in two ways - via ‘The Authorised Partner Program’ or via ‘The Referral Agent Program’.

Applicants to the Authorised Partner program receive a National Stock Exchange (NSE) registration. Referral agents are not registered with the NSE and that is the key difference between both programs. Registration for the Referral Agent Program is completely online.

The Authorised Partner Program

This program is apt for you if you are interested in receiving an NSE registration. Doing so will help you refer clients, contribute to the growth of Upstox and generate revenue for yourself & the company.

First, you will have to register under the Upstox Authorized Person or AP program which is recognised by NSE. On signing up as an Upstox Authorised Partner, you can generate income for yourself via the Account Opening Incentives (AOI). AOI earnings are generated when you onboard customers. You can also earn 30-50% of the brokerage generated by Upstox from these onboarded customers. The registration fee for the AP program can be paid via UPI, debit /credit card, mobile wallet, or net-banking.

The Referral Agent Program

Everyone can become an entrepreneur now with the Upstox Referral Agent program.

It enables you to earn through referrals and a revenue-sharing model from Upstox. Here too, you earn AOI income by onboarding people and earn 40% of the brokerage generated by Upstox from these onboarded customers.

Now let’s take a look at how you can become a Referral Agent in a few simple steps.

Step 1: Visit the website and enter details

1. Visit the Upstox website and click on the “Partner With Us” option at the bottom of the page or the “Become a Partner” at the top of the page.
2. On the sign up form, enter your name, email ID, phone number, and city and verify your details by entering the OTP sent to your mobile number.
3. You’ll now have to enter your PAN details for Upstox to verify whether you’re an existing Partner or customer.
4. If you are not an Upstox customer, you will be redirected to the sign up page to open an account with us first.

Step 2: Complete payment

1. If you’re an existing Upstox customer, you’ll be redirected towards a payment page where you can pay your Partner registration fee via NetBanking, Debit card, Credit Card, or UPI.
2. Now, complete the payment.

Step 3: Verify your email

1. After the payment is complete, verify your email address updated at the time of registration.
2. You can even update/modify your email address at this stage.

Step 4: Upload documents

1. You can upload your documents using DigiLocker or manually upload them.
2. To upload documents via DigiLocker, your Aadhaar card must be linked with your mobile number.

Step 5: Upload IPV Video

1. After your documents are uploaded, you’ll need to upload an In Person Verification (IPV) Video as per instructions mentioned on the screen or follow the demo video available on the same screen.

Step 6: Scrutiny Level 1

1. Your application has now been submitted and our team will conduct their first verification process to check if everything is okay.
2. In case of discrepancies, your application will get rejected and we will update you regarding the same.
3. We will also update you if everything is okay, and you can then proceed to eSign the Referral Agent Agreement by visiting our ‘Become A Partner’ page.

Step 7: E-sign

1. When you proceed to eSign, you’ll get two options to complete your application online or offline.
2. To complete your application process online (Aadhaar must be linked with your mobile number) click on eSign with Aadhaar OTP.
3. Before eSigning, you can review and read the Referral Agent Agreement.

Step 8: Scrutiny Level 2

1. After all the above steps are completed, our team will conduct their second verification process to check your eSign agreement.
2. At this stage, your application can only be rejected if your Aadhaar eSign doesn’t match with the Aadhaar mentioned in your application.
3. Once everything is approved, your application process will be complete.
4. Once your application is confirmed, our team will reach out to you. They will confirm your Partnership with Upstox and also share your login details for the Partner Dashboard.

And just like that, you can become a sub broker with Upstox!