Direct Sub Brokership

[starzz]

Is it possible to become a NSE sub broker DIRECTLY. That is , without taking franchisee of companies like Sharekhan, LKP securities , Motilal

Oswal etc?

If yes, what are the rules and regulations?
I tried searching the SEBI website but could not find a link that contains Each and Every required information.

Kindly Guide

 

[mbhardwaj82]

not possible. You have to be AP of a broker.

 

[Tejas Khoday]

Is it possible to become a NSE sub broker DIRECTLY. That is , without taking franchisee of companies like Sharekhan, LKP securities , Motilal

Oswal etc?

If yes, what are the rules and regulations?
I tried searching the SEBI website but could not find a link that contains Each and Every required information.

Kindly Guide

No ways!

 

[mohan.sic]

not possible. You have to be AP of a broker.

No ways!

on a lighter note ---

pls check the profile pic. still not possible ?

 

[Happy_Singh]

on a lighter note ---

pls check the profile pic. still not possible ?

View attachment 33943

With this Profile everything is Very much possible . . .

But why would Rajni even think of becoming a Sub-broker . . .
He would rather buy up all the exchange/s . . .


BTW, you can trade directly with NSE by becoming an Alpha Member . . .

https://nseindia.com/content/press/intro_alpha_24092012.pdf

Deposit is about 25L, plus some additional net worth requirements . . .
But the Admin overheads / managing / interfacing etc not really worth it
unless you have really a huge turnover.[Say, annual brokerage above 10L]

Cheers . . .

Happy

 

[Tejas Khoday]

on a lighter note ---

pls check the profile pic. still not possible ?

View attachment 33943

Unless he can fabricate a member code with NSE, BSE, MCX and SEBI registration code without them objecting whatsoever!

Rajnikanth can do anything (Lighter note)

 

[Tejas Khoday]

With this Profile everything is Very much possible . . .

But why would Rajni even think of becoming a Sub-broker . . .
He would rather buy up all the exchange/s . . .


BTW, you can trade directly with NSE by becoming an Alpha Member . . .

https://nseindia.com/content/press/intro_alpha_24092012.pdf

Deposit is about 25L, plus some additional net worth requirements . . .
But the Admin overheads / managing / interfacing etc not really worth it
unless you have really a huge turnover.[Say, annual brokerage above 10L]

Cheers . . .

Happy

I have gone through all the details of Alpha Membership, spoken to the officials at the exchange and I can tell you that it is not worth it! Why? Because it can allow a maximum of 50 Unique Client Codes (UCC) with restrictions that they have to your own or accounts of direct relatives or something. Alpha memberships is mostly meant for prop traders who want to avoid brokers but many Alpha Members surrendered their licenses due to the complexities and compliances involved. The rules may have changed slightly with time but this to the best of my knowledge. An alpha member must do his own clearing in cash segment, appoint a clearing member, do all the processes which can kill his time and resources rather than focusing on the primary task - trading!

It's much easier to open accounts with a broker and trade through them (Leave the compliances, tech, backend work to them) and pay them a small fee rather than trying to re-invent the wheel. However, maybe I see it from a different angle. If you have other agendas and it works for you, go for it.

My $0.02!

 

[starzz]

Well then, whose franchisee would you opt for? and why?

 

[Tejas Khoday]

Well then, whose franchisee would you opt for? and why?

1. FYERS, Of course. Why would I opt for any other broker?

2. Why? Hmm, my answer will be biased as I represent the company on @Traderji. Please do your own research and find out which broker is most suitable for you. Just a word of advice: Think about the long-term if you want to go with a full-service broker. Will it make sense to charge high brokerage in return for little to no value-add? It's up to you. In case, you want to know more about us, this can be useful.

Disclaimer: Please do your own research and make your own choice. I am just throwing light on your query and happened to mention our brokerage in context since you asked. I have a vested interest in giving you our website link in this post.

 

[starzz]

There are so many - sharekhan ( talked to them and they said they need a security deposit of 50 k to provide cash and Fno segments).Not had a chat with others like LKP, edelweiss,angel etc.

Asking you guys whom would you advise me to go with and why..
Thanks in advance
I won't be able afford Alpha Membership with 25 L