Demat lead statuses explained: from submitted to approved

Your dashboard shows each referral moving through stages. Understanding what each stage means helps you follow up at the right time and set correct expectations with customers.

Submitted

The customer filled the short form through your link and was sent to the broker's official page. At this point, nothing is confirmed. The customer may or may not complete the broker's application.

What to do: check in after a day if you know the customer, and offer help with the application.

Under review / pending with vendor

The lead has been recorded, and the platform is waiting for the broker's result. Brokers share results periodically, not instantly.

What to do: be patient. Make sure the customer completed all steps, including eSign and any verification.

Account opened

The broker has confirmed that the account was opened. This is a good sign, but many campaigns don't pay at this stage.

What to do: check the campaign condition. If funding or a first trade is required, the customer needs to take that step on their own.

Ready to trade (or similar in-between stage)

The account is active, but the campaign's final condition has not been met. The lead is still open. Read more in why a lead stays at Ready to Trade.

What to do: one or two gentle, helpful follow-ups. Never trade or pay for the customer.

Approved

The broker confirmed that the campaign condition was met, and the platform approved the lead. Commission is credited to your wallet according to the campaign terms.

What to do: thank the customer if appropriate, and keep supporting them as a trusted contact.

Rejected

The lead did not qualify. Common reasons include an existing customer, an incomplete application, a duplicate, a condition not met in time, or quality concerns. A rejection reason is usually shown.

What to do: read the reason, learn from it, and avoid repeating the cause.

Why stages may take time

Brokers report in batches, campaigns have review periods, and some conditions like a first trade depend on the customer. A lead might move from Submitted to Approved over days or weeks.

Leads are not earnings

A submitted or pending lead is not money. Only approved leads under the campaign's terms result in commission. Keeping this clear in your mind avoids disappointment and helps you focus on quality.

Track patterns

Look at your leads every week:

• Many stuck at Submitted? Customers may be leaving the broker form halfway; improve preparation.
• Many at Ready to Trade? Refer people who genuinely want to invest and explain conditions upfront.
• Many rejected as existing customers? Ask "Do you already have an account with this broker?" before sharing.

Key points to remember

• Submitted means the journey started, not that an account exists.
• Account opened is progress, but approval depends on campaign conditions.
• Rejection reasons are lessons, not personal failures.
• Pending leads are not earnings.
• Patterns in your statuses show what to improve.

Summary

Lead statuses are a map of the customer journey. Read them carefully, follow up where it helps and learn from each outcome. Over time, you will see more of your leads reach Approved. Learn more on how referral earning works.

A quick reference you can keep

• Submitted: journey started; offer help.
• Under review: wait; confirm the customer finished every step.
• Account opened: good progress; check the campaign condition.
• Ready to trade: open but unpaid; one or two kind follow-ups.
• Approved: commission credited as per terms.
• Rejected: read the reason and learn.