Planning for Sub-brokership

[raj_usb]

Avoid motilal oswal.

Hi bunny,

Could you pls let me know the reason to avoid MOSL? It will guide me to finalise my decision. Do u have any working relation with them?

Thank you.

- Raj

 

[gulshanranjan]

I have running a sub-broking in blore with angel & noticed, u wil get great servive if ur volemes r good, else so..so..

 

[nikki07]

Hi Raj,

I think Motilal Oswal would be a good option as it provides high-quality research support and has recently won Starmine award for best broker. You can check out: http://economictimes.indiatimes.com...ountrys-best-analysts/articleshow/5309116.cms

nikki

 

[viren9]

Hi bunny,

Do u have any specific reasons to avoid MotilalOs. Pls let me know, it will really help me to take a decision. If u don't want to share it openly u can mail me at :
[email protected]

Thank you.

Motilal oswal a big No No.. Why?? The Slowest Account Processing in the industry... Limits will always be an issue.. Brokerage rates too high to attract big Vol traders or investors which is a must for any sub-brokership to exist in the current screnario... What you would expect with paying a premium in this very competitive industry is best of services to mention the least... their client based Online terminal is as good as non-existent... The way to go nowadays is with established mid sized Brokers... Why?? they go the extra mile to provide you services tht u require..From Limits to brokerage to other softwares.... Volume based good Clients in the market nowadays don't give a damn about who the broker is as they know except for the brand name there is no difference.. as far as security is concerned established or new go for a broker who doesn't keep you're stocks in their pool A/C.. although even if they do you would be secured up to a decent extent.. Besides tht all big brokers have a huge No. of clients already registered with them thus the probability that a big client whose been in the market for long enough would already have an account with the broker.. they will tell you its a simple process transfering over the client.. trust me it isn't... My opinion Mid-size broker the way to go.. Need any recomm let me know...

 

[viren9]

Hi Raj,

I think Motilal Oswal would be a good option as it provides high-quality research support and has recently won Starmine award for best broker. You can check out: http://economictimes.indiatimes.com...ountrys-best-analysts/articleshow/5309116.cms

nikki

Awards... To be overlooked for sure... The post talks about brokers going through the tough times of the Jan 08 fall... Motilal Oswal had at that time in a panic sold off all legible positions of their sub-brokers client who were as per records in credit... One such incident had happened with one of it sub-brokers at Bhayandar where clients raged against this and thrashed the Sub broker's office.. this was in the news.. google it... This is just one of many incidents that had happ with Motilal Sub Brokers.. Those client obviously to save face were compensated only to the sub-broker's nightmare the adjustments were later debited to his A/C... Sub Brokers are penalised Rs.100 for every mistake made in the KYC form... One such Sub Broker was charged Rs.1500 on a single form as it had a lot of mistakes all over.. Imagine if you wanna acquire 1000 plus clients.. what kinda nightmare of charges would you have to go through.. On record No other broker in the industry has ever penalised its Sub-broker's for mistakes made in KYC's its over 50 signatures spread over 70 pages.. there are bound to be mistakes sometimes..

 

[nura4285]

If you are really interested in being a sub-broker. I can help you with it if you plan to go along with INDIA INFOLINE. only reply if you are serious and have client net worth.

 

[bunny]

Hi bunny,

Could you pls let me know the reason to avoid MOSL? It will guide me to finalise my decision. Do u have any working relation with them?

Thank you.

-Raj

http://www.traderji.com/brokers-trading-platforms/11653-i-want-become-sub-broker-2.html#post280074

BTW, please post in larger font size because such small size is difficult for me to read.

 

[viren9]

:annoyed:

If you are really interested in being a sub-broker. I can help you with it if you plan to go along with INDIA INFOLINE. only reply if you are serious and have client net worth.

Let's try and not mislead anyone.. India Infoline another scamster in terms of providing service... Horrid Services.. Ask any Sub - Broker who has left Info line how long did it take to get theri deposit out from them..Trust me atleast 4- to 6 months... From Clients point of view Ridiculous limits and constant Risk Management Related Issues... Interest is charged even if you have a Rs.5 debit in you're A/C at the min interest charge... All this will happen without any warning... :annoyed:

 

[moti]

hey, there first of all i have a bit expirence to deal with broker and find at first look they all look and talk like same but slowly you may get in small trouble like square off your clients order or etc. so its a matter of your own skill to identified right broker and try to bound them with your fair condition as far as concern name of broker may be you can try india infoline because they have depth research for stock trading which is very important for this business

 

[viren9]

hey, there first of all i have a bit expirence to deal with broker and find at first look they all look and talk like same but slowly you may get in small trouble like square off your clients order or etc. so its a matter of your own skill to identified right broker and try to bound them with your fair condition as far as concern name of broker may be you can try india infoline because they have depth research for stock trading which is very important for this business

The point of having a forum like this is to voice people's experiences with Brokers so others don't make mistakes before taking a plunge.. as u said at first they all look the same then u discover all the smaller issues.. Maybe India Infoline had depth in research.. But if research is what u want then go for the Best why india infoline???.. Seriously watch CNBC I see no depth whatsoever in their research.. Let me reiterate you take up a sub brokership to assist your clients to trade.. Research of India infoline, motilal oswal all brokers are available even if you open a client A/C with them.. So the only thing that u need is swift execution... Which India Infoline I'm sorry to say doesn't provide... AGAIN we take up a SUB - BROKERSHIP Primarily to earn something from the business.. How can anyone earn if Execution of Trades.. the most important thing is not smooth.. End of the day you have to keep you're cleints happy... how can that happen if u have charges being hit on the clients' A/C every now and then for petty lil things.. You'll be advising them alright.. but the trades would be made with their alternate A/C's..