how to become broker ?

gopija

oyotrade.com
#1
I do trading intraday and have friends who cant do trading on daily basis and they are ready to transfer the money into my account so i cant trade on there behalf .

My question are
1)I dont want them to transfer money to my account rather would prefer to trade from there own demat account (this avoids risk /brokerage/IT tax /account managment to me ) .but how to do it ?? since there are more than 100 people who want me to trade how can i place single order so that all my friends/client order automatically gets executed in one click of same qty of what what i buy ?
2)since i act broker to them what are the license i need to register , i want things to be legal way since market is superior and dont want to take risk of friends money and clearly signed an agreement of risk involvment to them
3)is opening an subbroker indivudual account and creating new demat accounts for all my friends and grouping them into single group and do i execute the trading order ? in this case will the money be in there demat account or mine? deposit and withdraw will be in there control or mine ? if withdraw will be in there control then i will be charging some 20% n profit what they have earned , does this business model looks legal and good ??

please advise
 
#2
Dear Gopija,

All your questions can be resolved by one answer: become a sub-broker.
Sub brokers are licensed individuals who offered trading and demat services under the franchise of established brokers such as 5paisa, IIFL, and more.
You are required to pass certain courses from NSE to acquire the sub-broker license, and your client base needs to be of certain limit.

To know about how broking, and sub-broking works, along with bulk trading, you may refer to https://www.5paisa.com/?utm_source=traderji
Get in touch with us to know more about the process
 

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