Want to start a Sub-Brokerage Firm

I want to start a sub-brokerage firm. There are two reason behind this. First I wanna establish myself in this field. Second , I want to keep my earnings private from the dealer under whose terminal my trades are executed as am a trader personally.

Am over 21 and i have passed NCFM certification in cash (capital market-dealers) more than 3 yrs ago .Except for the certified status, i haven't worked as a dealer and neither have experience as a dealer.

My friend has worked as a dealer in NSE for more than two years.If experience is mandatory, could i partner him and start a brokerage firm? If i partner him wud he be notified of my earnings or if its under my terminal he wont be knowing it as a partner too?

I dont worry about sharing the firm's profit with him, but am worried about sharing the details of my own account and capital in it.Please suggest some ways to buffer this traderjis...

How long it takes to get my submission approved and start trading from my own terminal in my own office? How much cost it wud take including the deposits. ? Can brokers trade for themselves legally?

Thanks in advance

Hi Member,

I was having same question when I started as sub-broker. If you want to work as sub-broker , It requires 25,000 refundable deposit. You will get all segment,viz NSE CASH, F&O, BSE, MCX-SX & MCX. Initially I focused on only on equity. But when I focused on MCX - COMMODITY, my turnover suddenly increased. I am earning more on commodity now. If you want detail information, you may call me on 9370906033. It is very to hide your commission account from your friend. It is not a big issue.