Finance

Sub Broker Registration Process & Documents Required

3 years ago
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For individuals looking to make a career in the stock market, becoming a sub-broker is a lucrative career opportunity. With an increase in the number of Demat account openings in India over the last few years, now is the best time to explore the opportunity. According to the 2020 SEBI reports, about 5 million (approx.) Demat accounts were opened in India.

Sub Broker Registration

Who is a Sub-Broker?

A sub broker is an individual who works on behalf of a stock broking firm. He/She does not directly work under the stock exchange but works under a reputed stock brokerage firm. The primary role of a sub broker is to acquire new clients and help them with dealing in shares and other securities. He/She also has to manage the investment portfolio of a client, give them stock tips and investment suggestions and maintain the trading quality of the client.

How to Become a Sub-Broker?

There is a well-defined eligibility criteria listed by the Indian stock exchange to become a sub-broker. These are mentioned below:

  • The individual must be over 21 years of age.
  • The individual must possess a Higher Secondary (12th pass) Certificate.
  • The individual must possess a registration form by SEBI.
  • If the applicant does not have proof of qualification then he/she must possess an experience certificate of at least 2 years in the Capital Market.

The above-mentioned eligibility criteria are as per NSE (National Stock Exchange). These might slightly vary from one brokerage firm to another (depending on the stock exchange your broker is enlisted).

If you have all the qualifications mentioned above, then the next step to becoming a sub-broker is having the right documents.

What Documents Do You Need To Become a Sub-Broker?

To become a sub-broker, an individual requires the following documents for the registration process. Here is a list of documents mentioned on the NSE’s official website.

Address Proof: An individual must possess any of the following documents as valid proof of address.

  • Aadhaar Card
  • Voter ID Card
  • Ration Card
  • Passport
  • Electricity Bill
  • Driving Licence
  • Telephone Bill
  • Rent Agreement

Qualification Proof: An individual must possess any of the following qualification proof.

  • Higher Secondary (12th pass) Certificate
  • Diploma Certificate + SSC mark sheet
  • Experience certificate of at least 2 years in the Capital Market (in case the individual does not possess the HSC/SSC/Diploma certificate.

Identification Proof: For identification proof, an individual must possess any of the following.

  • Aadhaar Card
  • Voter ID Card
  • PAN Card
  • Passport
  • Driving Licence

An individual can check the status of the application in the ENIT (Electronic NSE Interface for Trading Members) application if the stock broker is registered with NSE.

Conclusion

With the number of ever-growing individuals investing in the stock market, becoming a sub-broker is a rewarding opportunity for individuals. Individuals can earn high incentives as well as work flexibly. Also, for aspiring entrepreneurs, sub-broking can help establish their own business in the future. So choose a well-reputed brokerage firm and start your journey towards financial success today.

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