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| Discuss i want to become a sub broker at the Brokers & Demat Matters within the Traderji.com - Discussion forum for Stocks Commodities & Forex; how much should it cost, what are the risks associated with it ? which broker ... |
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#1
26th February 2007, 11:31 AM
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i want to become a sub broker
how much should it cost, what are the risks associated with it ?
which broker is good for me ...... since im new in this field, and i know there are guys here who are very experienced and can give me better advise thanks for your time. 
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#2
26th February 2007, 11:50 AM
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Re: i want to become a sub broker
I wish you all the best. Infact,on the lighter side, it is much easier to become a broker/sub broker than a trader!
ss 
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#3
26th February 2007, 04:29 PM
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Re: i want to become a sub broker
forget about it.
It is not going to help you much unless you already have good client list Remember one more thing, If you want good brokerage than go for remisership in Derrivatives or commodities only. for that you will require NCFM certificates.
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#4
27th February 2007, 09:59 PM
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Re: i want to become a sub broker
sir wat do u mean by "remisership in Derrivatives or commodities only"
like i need to get my clients to buy in FnO and commodity ? also how much clients do i need just to maintain my cost of running business without any profit, since at present i dont have any client base .... and how could i make clients without being a sub broker first ? how much it cost for membership as a sub broker in leading brokerage firms ? thanks
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#5
3rd March 2007, 12:56 PM
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Re: i want to become a sub broker
You will be required a small office and around 10+ clients who is regularly traders
for amount you will require 1 lakh as a deposit to broker Rs. 1 lakh or more for vsat connection if you would like to otherwise there is cheaper option for it as a internet + vpn connection which will cost you under Rs . 5000. aroud 50k for your monthly bills like rent, light bills, phone bills, internet rent, vpn cost in advance for your convenience if you are not able to get clients in around 6 months. 10k as sebi registration fee for subbroker(it is for 5year term) if you are able to find 5 or more clients who trades daily your total daily brokerage will around 1500/- for trades in one lot in futures and also there won't be any worry for clients settlement or delivery. If you are going for cash there will problem for limits to trade, delivery for settlements, cheque payment, cheque payout For F&O your work will be limited with timeframe of 9:30 AM to 4:30 PM For client search just find them through your relatives you will find 5 to 10 within them Dont forget to take deposit of around 20k to 50k as margin deposit from clients thanks for reading reply 
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#6
6th March 2007, 11:25 PM
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Re: i want to become a sub broker
thanks for the reply man
50k pm seems too much , coz if those 5 - 10 dont trade regulerly , then i have to pay the money from my pocket each month you said "If you are going for cash there will problem for limits to trade, delivery for settlements, cheque payment, cheque payout" may i know why ..... and whats the solution "For F&O your work will be limited with timeframe of 9:30 AM to 4:30 PM" is there any other timeframe besides this ? also , have u ever tried to become a broker/sub broker ? do u know things about selling mutual funds etc ?
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#7
14th May 2008, 12:37 PM
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Re: i want to become a sub broker
It is a good decision to start up own outlet by opening of sub broker flagship
but few question please ask with yourself: 1. Are you aware about share market and nature of services which your clients want? 2. Do you have capex of around 3 lakh for nse, bse, f&o segment and if you opt for ncdex, mcx then 2 lakh more for maintain liquidity in all segment? 3. Monthly expense bearing capacity of your's? 4. What is the one year practical target from your outlet you designed and do you have manpower to handle that crowd? Things are very simple now a days but kinldy approach a broker which is not going to open his own office near from your premises. If possible don't go with eye wash analyse yourself and broker first then take a decision. You are thinking right thing but needs some professional outlook because it is a service industry. you can talk with me if you feel any prob on 9324647253. regards MJ
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#8
6th October 2008, 11:41 AM
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Re: i want to become a sub broker
Hi all,
I am working for as an Area Manager for a Broking entity being attached from this field from the beginning i can share a lot of insights that u might find helpful in decesion making. My contact no. is 9320537187/9833429163, my email id is saurmishra@*****.com
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