Broker not registered with SEBI

Hello All

Is it mandatory to have the broker registered with SEBI? My friend introduced me to Tradefast securities.com and their registration details are on their website. But when I checked SEBI website, I can't see their name. Can any one advise?

Hello All

Is it mandatory to have the broker registered with SEBI? My friend introduced me to Tradefast securities.com and their registration details are on their website. But when I checked SEBI website, I can't see their name. Can any one advise?

Its best to open account with a registered broker, in that sense you have to deal with only one person if you have trading issues that need to be resolved. Of late many are registering as Advisors, as the deposit is only Rs. 2000/- compared to seeking registration as a broker which goes into multiple crores of rupees. As an advisor a person does not get a trading terminal and so has to partner with a registered broker and therein lies the problem.

What are the details of registration as advisor?

SEBI (Research Analysts) Regulations, 2014 (“RA Regulations”) have been notified on September 01, 2014
and shall come into effect from December 01, 2014. The RA Regulations are available on the SEBI website
www.sebi.gov.in

In terms of the RA Regulations, no person shall act as research analyst or research entity or hold itself out as
research analyst unless he has obtained a certificate of registration from SEBI under these regulations unless
an exemption specifically applies.
3. Further, in terms of regulation 21 of RA Regulations, "any person who makes public appearance or makes a
recommendation or offers an opinion concerning securities or public offers through public media has to
disclose his name, registration status and details of financial interest in the subject company and he shall
comply with the provisions of regulations 16 and 17."