i want to become a sub broker

[rajmish32]

how much should it cost, what are the risks associated with it ?
which broker is good for me ......

since im new in this field, and i know there are guys here who are very experienced and can give me better advise
thanks for your time.

 

[Linus]

I wish you all the best. Infact,on the lighter side, it is much easier to become a broker/sub broker than a trader!

ss

 

[yogeshdaliya]

forget about it.
It is not going to help you much unless you already have good client list
Remember one more thing, If you want good brokerage than go for remisership in Derrivatives or commodities only.
for that you will require NCFM certificates.

 

[rajmish32]

sir wat do u mean by "remisership in Derrivatives or commodities only"
like i need to get my clients to buy in FnO and commodity ?

also how much clients do i need just to maintain my cost of running business without any profit, since at present i dont have any client base .... and how could i make clients without being a sub broker first ?
how much it cost for membership as a sub broker in leading brokerage firms ?
thanks

 

[yogeshdaliya]

You will be required a small office and around 10+ clients who is regularly traders

for amount you will require 1 lakh as a deposit to broker

Rs. 1 lakh or more for vsat connection if you would like to otherwise there is cheaper option for it as a internet + vpn connection which will cost you under
Rs . 5000.

aroud 50k for your monthly bills like rent, light bills, phone bills, internet rent, vpn cost in advance for your convenience if you are not able to get clients in around 6 months.

10k as sebi registration fee for subbroker(it is for 5year term)

if you are able to find 5 or more clients who trades daily your total daily brokerage will around 1500/- for trades in one lot in futures and also there won't be any worry for clients settlement or delivery.

If you are going for cash there will problem for limits to trade, delivery for settlements, cheque payment, cheque payout

For F&O your work will be limited with timeframe of 9:30 AM to 4:30 PM

For client search just find them through your relatives you will find 5 to 10 within them

Dont forget to take deposit of around 20k to 50k as margin deposit from clients

thanks for reading reply

 

[rajmish32]

thanks for the reply man
50k pm seems too much , coz if those 5 - 10 dont trade regulerly , then i have to pay the money from my pocket each month

you said
"If you are going for cash there will problem for limits to trade, delivery for settlements, cheque payment, cheque payout"
may i know why ..... and whats the solution

"For F&O your work will be limited with timeframe of 9:30 AM to 4:30 PM"
is there any other timeframe besides this ?

also , have u ever tried to become a broker/sub broker ?
do u know things about selling mutual funds etc ?

 

[projecta.20]

i am pursuing my final year in MBA finance. i am waning to become sub broker. can you tell me that with having any experience can i become sub broker and how please

 

[shkaigru]

Guys, what do you mean by sub-broker? Introducing broker?

 

[pkamalesh]

i am pursuing my final year in MBA finance. i am waning to become sub broker. can you tell me that with having any experience can i become sub broker and how please

Dude You must be looking to Be a manager in some finance corp or a investment banker ...atleast after u do ur mba in finance....even a 10th fail guy can become a sub broker...

With great concern

A co - MBA(finance)

 

[maverick81]

Dude You must be looking to Be a manager in some finance corp or a investment banker ...atleast after u do ur mba in finance....even a 10th fail guy can become a sub broker...

With great concern

A co - MBA(finance)

A 10th fail guy can become a sub broker , but cannot run the firm , as a matter of fact an MBA finance guy may not run an outlet effectively. The problem is not education , the problem is committment towards a job .. !!!