Remisier offer - Motilal Oswal or Indian infoline

[bbsandeep]

***Pl Help ***Remisier offer - Motilal Oswal or Indian infoline***

Hi Tradeji,

Could anybody tell me something more about which Remisier offer is better.Motilal Oswal or india infoline.

I had got offer from both brokers.However I m confused in selectiing between them.

Pelase also tell me should i go for any other broking firm like Sharekhan,angle, etc..which is best in customer service online as well as offline.

and please also guide me that whether it is a right time to take remisier / subbrokership ...or wait till market stablise..

Please guide

Sandeep

 

[bbsandeep]

Thanks

 

[pali.sembhy]

if ur r planning for sub broker let me show u the right path. if u r interested to become sub broker n looking for right broker ur search ends here.
plz mail me at [email protected] , also mention ur phone number and location!
i will revert with the BEST PROPOSAL.ITS A PROMISE!

 

[alroyraj]

Re: ***Pl Help ***Remisier offer - Motilal Oswal or Indian infoline***

Hi Tradeji,

Could anybody tell me something more about which Remisier offer is better.Motilal Oswal or india infoline.

I had got offer from both brokers.However I m confused in selecting between them.

Pelase also tell me should i go for any other broking firm like Sharekhan,angle, etc..which is best in customer service online as well as offline.

and please also guide me that whether it is a right time to take remisier / subbrokership ...or wait till market stablise..

Please guide

Sandeep

Here is the relevant thread post. SavantGarde is one of the super moderators and importantly a mentor here . His advice carried a lot of wisdom and experience.
.

First Do Not Touch Motilal Oswal, Even If They Are The Last Broker On This Planet.

Now Coming To Other Things What A Prospective Sub-Broker Should Look For Before Deciding Who To Tie Knot With.

1) Must Not Agree To Pay Deposit, Instead Any Deposit Should Be Given As Shares or Bonds, Also Negotiate The Deposit.

2) Now Coming To Brokerage Sharing, Instead Of Brokerage Sharing, Negotiate For Minimum Required By The Broker So That Anything Charged Over & Above Is Yours. Putting It Point Wise As To What You Should Settle For Broker To Keep.
a) Cash Deliivery 0.10% Minimum 2 Paise
b) Cash Square Up Same Day 0.001% One Side Minimum 2 Paise
c) F&O Delivery 0.01% Both Legs Minimum 2 Paise
d) F&O Square Up Same Day 0.01% One Side Only Minimum 2 Paise

3) Now What You Could Charge Your Clients

a) Cash Delivery 0.30 - 0.50%
b) Cash Square Up Same Day 0.04 - 0.08%
c) F&O Delivery 0.03 - 0.08% Both Legs
d) F&O Square Up Same Day 0.03 - 0.08% One Side Only
e) Minimum 4 - 6 Paise For All The Above

4) Commodities You Will Need To Check With Somebody Else To Know The Rates Or Do Some Research On Your Own.

5) SEBI Registration Is 20000/- For Both BSE & NSE (10 & 10) Registration Valid For 5 Years From The Date On The Certificate Of Registration

6) Eligibilty Is Minimum HSC (Am Not Sure) You Will Need To Check On This, Alternatively 3 or 5 Years Experience With A Broker Incase You Don't Meet The Educational Eligibility (You Will Need A Certificate From The Broker For Your Service For Submission)

7) Do Not Agree To Pay Anything To The Broker Besides The Negotiated Deposit (Either Money or Shares Whatever The Case Maybe)

8) Other Charges Asked By The Broker Are As Follows:
a) Back Office Software One Time Charge
b) CTCL IDs Depending On The Number Of Segments You Want
c) Do Not Agree To Pay The Annual Charges For CTCL IDs

9) If Printed Stationery Is Being Provided By The Broker For You To Print The Contracts & Monthly DP Statement & Etc. To e Given To Your Clients, Do Not Agree To Pay For The Stationery

10) Reasons For All The Above Points Can Be Cited As Your Investment In Infrastructure (Premises, Staff, Phones, Internet Computers & Dealer Terminals, Printer, Consumables, A/C, & Other Incidenals Such As Snacks, Tea, Coffee & Whatever As Your Part Of The Investment To Get The Business Started, Therefore Any Thing Else Required Such As CTCL IDs (Reasonably Upto 2), Back Office Software, Stationery Should Be Brokers Investment For Their Earnings From Your Brokerage Operation, Quite Reasonable In My Opinion, Now Is As Good A Time As Any To Drive A Hard Bargain. Since The Business Is Down Almost 70-80% For Most of Them (Now You Know Why MOSL Is Putting Ads For 'Business Associates')

11) Caring For Your Business & Its Growth Will Entirely Depend On Your Handling Of Clients.

12) Do Not Recommend Scrips Just For The Sake Of Earning Brokerage, If You Think The Market Is Not Right For Investment Tell Your Clients To Stay Away & That You Will Let Them Know When Is The Right Time To Start With Investments.

13) Brokerage Research & Their Team Recommending Scrips To BUY, You Will Need To Put Them Through Your Own Stress Test, To Gauge The Quality Of Their Research, Do Not Blindly Recommend Whatever Recommendations Are Given To You By Your Broker, Unless You Have Developed A Certain Amount Of Faith In Their Research.

14) Drive The Bargain Harder By Free Trading & Demat Accounts For Your Clients, You Will Be Surprised How Easily They Will Agree To That With A Wee Bit Of Resistance..

15) It Is Upto You If You Want To Charge The Clients For Account Opening & Keep The Charges For Yourself. ( I Have No View On That)

16) Do Not Get Into Any Kind Of Hard Cash Dealing, Everything Is Always Without Exception By Cheque.

17) Clients Who Look Upto You For Investment Ideas, Worry About Their Capital First, Before Your Own (This Will Keep You In Good Stead In The Long Term)

18) Ideal Mix For The Business Should Be 70-30 (F&O - Cash Respectively)

Now, Do You Still Want To Be A Sub-Broker.....

SavantGarde

Read this relevant thread and/or post there..

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

 

[pali.sembhy]

Re: ***Pl Help ***Remisier offer - Motilal Oswal or Indian infoline***

Hi Tradeji,

Could anybody tell me something more about which Remisier offer is better.Motilal Oswal or india infoline.

I had got offer from both brokers.However I m confused in selectiing between them.

Pelase also tell me should i go for any other broking firm like Sharekhan,angle, etc..which is best in customer service online as well as offline.

and please also guide me that whether it is a right time to take remisier / subbrokership ...or wait till market stablise..

Please guide

Sandeep

to sandeep. i hav gone thru ur query. plz mail me at [email protected] , also mention ur phone number and location!
i will revert with the BEST PROPOSAL.ITS A PROMISE!

 

[rowdy007]

Hi
I already have a remiser account in India Infoline (IIFL). I want to clear a few doubts, please help me if you can. If I want to know all the clients in my remiser account and the brokerage % which has been agreed upon how do I go about it. Since IIFL is not transparent on this and the RMs are also not co-operating.

Thanks in advance
Rowdy007