How can i become a share sub broker
Firstly, the entity "Sub-brokers" is getting phased out, exchanges don't register sub-brokers anymore.
The new term is called "Authorized Person AP ". So if today, you want to go partner with a broker, you will be called an Authorized person, and not sub-broker.
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The question you need to answer is, if eventually you want to become a brokerage firm, what will you do that will be your USP unique selling proposition. Who can become one is written above by Nithin. Powered by Discourse , best viewed with JavaScript enabled. Should I become a sub-broker? And if yes, how to proceed? I have a doubt regarding how well can I pull it of as a sub broker or what it takes to be a good sub broker.
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I am a trader apart from working at a BPO. I disagree with them because I know that I can pull it off as a sub broker.
I want to confirm with you that is it necessary to have a vast knowledge of all finance instruments present under the sky or a good knowledge of technical analysis and the Indian Stock market will do.
When I started to look for brokers under whom I would be the sub broker, I went to some top brokerage houses and they all told the same thing that I have to keep an amount mostly INR One Lakh as deposit and some processing feed and I will be getting the sub brokership.
But my concern is that as these guys like make the process sound like awfully easy and more like get rich quick schemes, but what really goes in selecting the broker under whom I will function. Though I have somewhat traded on the equities market, but I have no such experience with the commodities, currencies or the derivatives market.
I know its important and that is why I am studying a lot in regards to the same. But actual market experience is always different. Do you suggest to wait and have detailed knowledge of the same or shall I continue with my plans.?
I want to ask one thing that where do you see the future of such sub brokers, where people are more comfortable trading from their smart devices or laptops and such great discount brokerage houses like Zerodha are on the field? Apart from like first approaching friends and relatives and some mouth publicity, are there any alternate or other methods for acquiring more clients.
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All these brokerage guys tell that at first I can operate from my home only and with the process of time one can shift to a small office. So will this fact be a like backlog kind of thing when I start with the firm or I will get suited with things with the process of time. If my ultimate aim is to become a stock broker , then apart from going the sub broker path is there any alternate or other ways.
But yes, a basic understanding of the market is required. I guess the important thing to do when you plan to associate with one is to first open an account and see for yourself if you are happy as a client trading with that firm.
Only if you are happy as a client, will you be able to introduce more people to it.
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Like I said, as an AP, your marketing skills will be what is put to test. This is probably the single most important question you need to answer before starting off. What will get you new business is directly related to the product that you are trying to pitch and ur marketing skills.
So comes back to the ur question 4, which broker are you associating with. It depends on how you are going to acquire clients, if the traditional way, yeah an office would be required. But if you are doing it the online way, u can do it sitting from your house. It is quite a simple business being an AP. The brokerage firm that you associate with will anyway take care of all the operational headaches, so you will be good to go from day one.
The other route would be by working with a brokerage firm as an employee. Zerodha already had referral scheme, so what's the benefit of becoming an AP?
