How to be a Broker??

[ashoktrack]

Hi members,

Plz tell me the

1.) Criteria to be a broker

2.) Investment required

3.) Must required facts

4.) Eligibility criteria

5.) Your advice.

Thanks in advance:clap:

 

[bunny]

I can answer only one of the question. To become a "broker", you should be a member of the exchange. This membership alone costs in excess of 50 lacs.

The small share brokers whose shops we see near our house are actually "sub brokers"(and not brokers). I think you are speaking about this one. You can contact any broker for sub broker opportunity. You can also search traderji, there are some good posts about sub brokership.

 

[ashoktrack]

yes bunny im talking about being a sub broker. sorry for the confusion.

Meanwhile a friend of mine offering me to be a broker from his chain, but that will be like giving away my 10% brokerage to him. So im asking for risk/reward that i will be facing. Also i tried searching traderji for this query but was not able to find one. Could you plz guide me about the procedure in short.

Thanks for your time.

 

[bunny]

The normal search will not return many results. Instead, click http://www.traderji.com/search.php and use the "Google search". Meanwhile, I had bookmarked this post, could be of help for you: http://www.traderji.com/brokers-trading-platforms/11653-i-want-become-sub-broker-2.html#post280074

 

[rajputz]

For being a subbroker - the companies mearly ask some security from you...approximately 5-10 lac as security for 5 years, which is resigned after the 5 year contract. The Place where you wish to open the sub brokerage must have enough traders or investors to generate you income. The company you will become subbroker off will give you the license to distribute their Trading terminal and will make you their dealer. The total amount of brokerage generated by the traders through your subbrokerage firm will then be divided among you and the company as 60:40 or 70:30 or whatever is the companies policy. The larger part will be urs. So in order to take subroker buisness be sure that you can attract enough traders to generate brokerage, rather then freezed accounts. and do take some good company for being a subbroker as reputation matters alot