Want to start a Sub-Brokerage Firm

#1
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 .I haven't worked as a dealer for 2 yrs term coz i left job to study.

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
 
Last edited:

iyerboi

Active Member
#2
I want to start a sub-brokerage firm......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.

Thanks in advance
Thanks for bringing this up. Even i'd like to have an idea. Once you are a broker, u dont have to pay any brokerage rt and so that would mean one can take advantage of even small price differences rt?


Thanks in advance!
 

comm4300

Well-Known Member
#4
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...
Experience not mandatory.

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.
if all the documents are in place - 10-15 business days.
ALL segments - roughly around 2 lakhs. Assuming you have your infrastructure ready [place + internet + phone lines + terminals}.


all the best.
 

comm4300

Well-Known Member
#6
Absolutely. some people take sub-brokership only to trade for themselves !

Documents-

regular ones - PAN, Bank a/c statement, Residence proof etc etc.

Link - depends on the broking firm that you want to be associated with. Talk to them and negotiate about terms and condition. Also ask them if they expect any "turnover" commitment /number of account openings per month.
 
#7
Absolutely. some people take sub-brokership only to trade for themselves !

Documents-

regular ones - PAN, Bank a/c statement, Residence proof etc etc.

Link - depends on the broking firm that you want to be associated with. Talk to them and negotiate about terms and condition. Also ask them if they expect any "turnover" commitment /number of account openings per month.
Thanks a lot bro...
 

bharatk8

Active Member
#8
There are some brokers who do not ask for deposits upfront.
Experience not mandatory.


if all the documents are in place - 10-15 business days.
ALL segments - roughly around 2 lakhs. Assuming you have your infrastructure ready [place + internet + phone lines + terminals}.


all the best.
 

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