A Guide to Become a Best Sub Broker in India

Talking about the Indian stock market, it has seen huge popularity currently. Even going with the data in early 2020, there were millions of Demat account which the retail individuals opened. Retail individuals aren't allowed to trade directly with the stock exchange. It can be done via a best sub-broker.  

Every day the number of interested candidates for investing is increasing. The stock borking firms are a handful, but the interested client and client base is increasing. This is leading to opening an opportunity for the sub broking firm to be in the race. This opens exciting opportunities for the individual looking to become an entrepreneur in the share market. Here is everything that you need to learn about the sub-broker. 

What is a Sub broker?

The proper definition of a sub-broker is the person who acts as the mediator or the trading member for the stockbroking firm who works as an agent. Their role is to increase the client base for the stockbroking firms and assist the investors in their dealings in the shares and other related securities. Concluding the complete role of the sub-broker is to assist the investor for all the related dealing in shares and other securities via the stockbroking firm. 

Other duties and responsibilities for the sub-brokers are

? They have to be an active participant in the business development and the sales process, everything related to the stock market. 

? The client trade quality should be maintained. 

? To enable an informed client base for trading decisions. 

? To keep track of providing the client with investment-related suggestions and tips. 

How to Become a Sub Broker?

Now everything about the sub-broker is clear. We need to look for how to become one and the required steps for the same.

? First and foremost is to choose the best sub-broker franchise scheme which different firms offer and you wish to join one. Go through the different models, read about everything, and then choose the one you want to get associated with. 

? After choosing the best franchise of the best sub-broker, you need to check the eligibility criteria if you have all the required documents and other facilities they ask for. For an individual, the eligibility criteria are quite simple. 

? After completely satisfying the criteria, the next step is to submit all the duly filled documents with the stockbroking firm with whom you want to do a partnership. The documents required for the same is:

? Sub broker registration application form

? There is an agreement between the stockbroking house and the sub broking firm that the applicant signs. 

? Proof of address of the applicant. Proof of the address is required. The document provided should match with the one given on the application form. Here is the list of the documents that are given below - 

 ? Latest telephone bill

? Latest electricity bill

? Valid ration card

? Valid passport

? Valid driving license

? Bank statement of the previous month

? Proof of experience certificate. This is required only for the applicant's case where the qualification is lower than that of HSC.

? Other relevant documents as necessary.

? After submitting all the documents required, you need to pay the processing fees of Rs. 2,000 plus GST.

? After the documents are received and the payments, the stockbroker will go forward with the application electronically to the exchange and make the payment for the processing on your behalf. 

? Once everything is cleared, the exchange scrutinizes the documents, ensuring there are no loopholes or problems. If anything is missing in the application, the exchange sends the documents too for making the required changes and go for the resubmission. 

? After getting the approval of the application form by the exchange, you will need to submit SEBI registration fees to the stockbroker, who would, in turn, remit the same to the exchange on your behalf.

? After this, the receipt will be provided by the SEBI of the registration fees, and you will then receive the sub-broker registration certificate from SEBI and a registration number.

Once you receive the registration certificate, you are then officially considered to be a sub-broker. 

Best Sub-Broker franchise India

Here are the top 5 leading sub-broker franchises that provide the best experience to their partners. 

1. Angel Broking Franchise 

Angel broking franchise or the angel one franchise is one of the largest broking franchises in the country. It has over 11,000+ sub-brokers joined under them. Angel broking is a leading stock broking firm in India competing with the other leading firms. 

2. Sharekhan Franchise 

Another leading franchise is the Sharekhan stock broking franchise; more than 3000 sub-brokers are working under it. The company has been well known in the financial market providing top-notch services to its clients. 

3. Motilal Oswal Franchise 

Another best sub-broker franchise in India is the Motilal Oswal Franchise. It is on the list of the most leading stock boring firms in India. The franchise has a wide network presence in the county, with almost 1500 sub-broker offices, which is huge for any franchise.

4. India Infoline Franchise 

IIFL Franchise is one of the broking franchise businesses which has seen positive growth. The growth has been seen for the past 3 years.  

IIFL offers a large variety of trading and investment products. They also have a credit line and portfolio management included in their services. The company is surely a smart choice to choose for every sub-broker in the market. 

5. Zerodha Franchise 

Another well-known stockbroking firm and India's number one stockbroking firm is Zerodha. The company offers the Zerodha Franchise or the partner program, an authorized person program in the stockbroking sector. The everyday reach of the company is around a million clients and orders accordingly. 

Example of the best sub-broker in India

One of the examples of the best sub-broker in India is Kundkund Trading and consultancy. The company is the leading partner of the various leading stockbroking firms like Zerodha, Upstox, ICICI, 5 Paisa and other major brands. The company has provided more than 1lakh+ clients to their partner, making them a leading example of India's best sub broking firm. 

Conclusion 

The article gives a complete insight into what a sub-broker is, how to become a sub-broker, and the top broking firm providing the partnership. If you want to become a broker, you can follow the steps and apply for the best firm accordingly.  Also get to know about the key differences between a broker and a sub broker in India.