i want to become a sub broker

[seetharamank]

Guys, what do you mean by sub-broker? Introducing broker?

sub broker is an associate or francisee of mainbrokers such as kotak,angel etc brokerage houses for which u must pass certifications like nse cashmarket,derivatives u must also have an office to traders to come&trade the main broker will share the commission collectedfrom ur clients on a pre arranged % it is ur responsiblity to see ur clients donot default in payments

 

[solanki.amit99]

i am in talk with ANGEL BROKING...i want to start my franchise....i have cleared my NCFM exams....... they are asking for rs.250 per segment .....what should i do.... should i bargain ..if yes...den till what price....can they allow me these segment in no price....plzz help me

thanks in advance...

amit

 

[dhruvrs]

Hi!! Amit,

Rs. 250 is charged to Franchisees for availing ODIN software from the service provide(Financial Technologies) for executing client trades. I dont see any scope of bargaining the same, however would advise you to check the same with other broking houses. Besides, Angel pays fee for all the segment Ids as well, which is given to franchisees.

i am in talk with ANGEL BROKING...i want to start my franchise....i have cleared my NCFM exams....... they are asking for rs.250 per segment .....what should i do.... should i bargain ..if yes...den till what price....can they allow me these segment in no price....plzz help me

thanks in advance...

amit

 

[thedene]

Mr. Bboy. can you please advice if i want to start my own subroekership, what are the things to take n in to accout. and how shud we negotiate with main broker.
I m in talk with Motilal...................

 

[sandeepkbs]

Want to become sub broker

I am a software engineer in Noida. I came to know about you from traderji.com. I am planning to start sub broker ship firm in Delhi itself.
Please let me know the following things.

I want to know what your experiences says about that.
What are procedure for start broker ship.
Should I go with Share khan ?
How much money I can earn by a sub broker ship firm.
How many client I need to run the firm smoothly.
How much Space and manpower required ?

 

[midastouch]

Re: Want to become sub broker

I am a software engineer in Noida. I came to know about you from traderji.com. I am planning to start sub broker ship firm in Delhi itself.
Please let me know the following things.

I want to know what your experiences says about that.
What are procedure for start broker ship.
Should I go with Share khan ?
How much money I can earn by a sub broker ship firm.
How many client I need to run the firm smoothly.
How much Space and manpower required ?

Hi Sandeep,

ShareKhan is a good option but only to start with. Their power broker model is low cost and it keeps you safe till you understand this business. In long term you will need to diversify because you will feel that their working model is not that flexible. To retain active clientage you need to offer high leverage and low brokerage which is difficult to get from Share Khan.


PM me if you need to discuss more.

 

[midastouch]

Pls. anyone can help me ?
I am in talks with one brokerage house for sub-brokership.

They told me that there are 2 kinds of registration and I can go for anyone but both are same in terms of work etc :--

1) Register thru us and they will register directly in excahnges like NSE BSE MCX etc..
for this they will charge Rs.2206 each per segment ( Segment : NSE-cash, NSE F&O, NSE-Currency, BSE, MCX-Commodity, MCX-Currency, NCDEX ) so if i will go for all these then it will cost me Rs.2206 x 7 (segment) = Rs.15442.

2) Another way is that I can Directly register myself with SEBI and after that I can become there sub-broker for this I need to pay Rs.12250 per segment directly to SEBI.

So, now my Question is that what is the diffrence between these two diffrent type of registrations for sub-broker ?
As per that brokerage house marketing person he said that there is no diffrence, and infact he said that if I go directly for SEBI registration then it cost me much more per segment wise and it take around one whole year to get the registration certificate.

I am confused and feeling handicapped b'coz no proper information is available and I cant 100% trust these marketing persons of brokerage house.
Why there is so much diffrence in amount of direct SEBI registration and registartion thru brokerage house / exchanges ?

If I register thru brokerage house then they will register me direcly thru NSE, BSE and MCX exchanges. Is there any problem in that ? any kind of trap in future ? Is it legal in this way ? or in future I get in trouble
Or This brokerage house will take any kind advantage in future by saying that I am not registered yet and they takeover my clinets or not pay me fully or any kind of problem etc...

Pls. can some experienced sub-broker put some light on this issue ? As I am totaly confused.

Pls. guide
Thanks in adavance

There is no issue in getting registered through broker members. I don't think there is any way to get the registration done directly eith SEBI without any member broker.

Anyways as a sub-broker you always need to be assosiated with some broker to start.

 

[ga1985]

A 10th fail guy can become a sub broker , but cannot run the firm , as a matter of fact an MBA finance guy may not run an outlet effectively. The problem is not education , the problem is committment towards a job .. !!!

i completely agree...

 

[Khushijain]

Guyz i"m a remiser of kotak and want suggestions on how to make more client....will advertisement help? can i name kotak in the advertisement?

 

[maheshsw2004]

I think must try angel, IIFL or religare and then tell me which one is best