Top 10 Authorized Person Programs in India (2025)

An Authorized Person (AP), formerly known as a sub broker, acts as an intermediary between a client and a SEBI-registered stockbroker. By joining an Authorized Person Program, you can offer brokerage services, handle client investments, and earn commission on trades. The AP Program provides a business opportunity with flexible income potential based on client trading volumes.

In this article, we will review the top Authorized Person programs in India for 2025. These programs are evaluated based on factors such as commission structure, pricing models, payout types, support, and overall trust in the industry. Let’s dive into the details of each program to help you choose the best option for your business.

List of Top Authorized Person Programs in India (2025)

1. Rupeezy AP Program

• Commission Model: Lifetime 100% brokerage share.

• Pricing Model: Subscription-based model with zero brokerage charges.

• Payouts: Daily payouts, which offer enhanced liquidity for partners.

• Support: Comprehensive training, customer support, and marketing resources.

• Trust: 20+ years in the industry, transparent, reliable, and a rapidly growing network in the market.

2. Angel One AP Program

• Commission Model: 100% for the first 3 months, then 50% to 70% revenue sharing based on performance.

• Pricing Model: Competitive brokerage rates with various pricing plans.

• Payouts: Timely monthly payouts.

• Support: Full support including marketing tools and training.

• Trust: A reputable and well-established brand in the Indian stock market.

3. 5paisa Partner Program

• Commission Model: Up to 100% for the first three months, followed by 60% commission lifetime.

• Pricing Model: ?10 per transaction for clients, offering affordability.

• Payouts: Monthly payouts.

• Support: Extensive partner dashboard with tools and support.

• Trust: Part of IIFL Group, ensuring credibility and trust.

4. Yes Securities AP Program

• Commission Model: 50%–60% revenue sharing.

• Pricing Model: Various flexible pricing options for clients.

• Payouts: Monthly payouts for all APs.

• Support: Dedicated relationship managers and training resources.

• Trust: Backed by YES Bank, ensuring reliability.

5. Motilal Oswal AP Program

• Commission Model: 60%–70% revenue sharing, with potential for higher earnings.

• Pricing Model: Flexible pricing options, with either flat or percentage-based brokerage plans.

• Payouts: Monthly payouts, with performance-based incentives.

• Support: Extensive training, marketing support, and backend support.

• Trust: Trusted name in the industry with over 30 years of experience.

6. Kotak Securities AP Program

• Commission Model: Percentage of brokerage earned from trades.

• Pricing Model: Various brokerage plans available based on the partnership type.

• Payouts: Monthly payouts.

• Support: Full support with training, marketing materials, and dedicated assistance.

• Trust: A subsidiary of Kotak Mahindra Group, ensuring financial credibility.

7. SMC Global AP Program

• Commission Model: 30%–40% revenue sharing.

• Pricing Model: Flexible brokerage plans, adaptable to client needs.

• Payouts: Monthly payouts.

• Support: Dedicated support for partners and marketing materials.

• Trust: 30+ years of experience in the financial services industry.

8. Mirae Asset AP Program

• Commission Model: Hybrid model with a combination of flat fee and percentage-based earnings.

• Pricing Model: Customizable plans for clients, making it suitable for all types of investors.

• Payouts: Monthly payouts.

• Support: Robust trading platforms and extensive partner training.

• Trust: A global financial brand with strong market presence.

9. Sharekhan AP Program

• Commission Model: Varies based on the partnership model.

• Pricing Model: Flexible brokerage options for clients.

• Payouts: Monthly payouts.

• Support: Strong partner support system with marketing and business assistance.

• Trust: A well-established and trusted brand in the stock trading industry.

10. Share India Securities AP Program

• Commission Model: Varies depending on the partnership model.

• Pricing Model: Competitive brokerage rates with flexibility.

• Payouts: Monthly payouts.

• Support: Marketing resources and dedicated customer support.

• Trust: Growing presence in the Indian stockbroking industry.

Conclusion: Who Wins the Best AP Program in India for 2025?

Rupeezy takes the lead in 2025 with its innovative 100% brokerage share model for life, making it an ideal choice for partners looking for higher earnings with zero brokerage charges and daily payouts. Additionally, Rupeezy offers customized brokerage plans for clients, catering to both discounted and traditional brokerage models, giving clients more flexibility and choice. This flexibility enhances the earning potential for Authorized Persons (APs) and sets Rupeezy apart from other providers.

Angel One and Motilal Oswal also offer robust commission models, excellent support, and flexibility, positioning them as top contenders for APs seeking reliable and established brands. However, Rupeezy’s combination of high commission, daily payouts, and customized brokerage plans places it in a strong position to win the title of the top AP program in India for 2025.

5paisa offers a unique entry strategy with its high initial commission share, while Yes Securities and Kotak Securities provide trusted programs with extensive support and flexibility. For those seeking low-commitment options, SMC Global, Mirae Asset, Sharekhan, and Share India Securities offer a range of commission models and competitive pricing, making them solid choices.

Ultimately, the best AP program depends on your business goals, your willingness to invest time and resources, and the type of commission structure that aligns with your earning expectations.