Steps to Become a Registered Sub Broker in Stock Market

Are you planning to enter the stock market and build a career? Being a sub-broker can be an excellent option to start. This profession will allow you to help customers find appropriate brokerage firms to start investing. 

To be a successful sub broker, you need the appropriate knowledge, skills and certifications. Moreover, you have to submit certain documents. 

Here are all the steps required to become a stock market sub broker in India.

Check Your Qualifications   

The fundamental sub broker eligibility criteria are to complete secondary school education (10+2). If you have finished your undergraduate degree, it will be an added advantage. 

Basic economics and finance knowledge can help you make better decisions as a sub broker. Moreover, a thorough understanding of the financial markets and national economic conditions is also essential.

It is vital to have all your academic certificates and people work together. You will be required to submit them later on during your registration.

Get Certified

Along with basic academic knowledge, you need to clear some exams associated with the stock market. The NISM (National Institute of Securities Market) certification is an important exam that tests your stock market knowledge. 

You can associate with any registered stock broker after clearing this exam. It will also pave the way to join your local stock exchange and begin your professional journey. 

There are two NISM certifications you need for this profession – 

• NISM-Series-XI certification, also known as Equity Sales Certification Examination
• NISM-Series-VIII certification, also known as the Equity Derivatives Certification Examination

Preparing carefully to score well in these certification exams and expand your knowledge is vital. 

Gather Experience

Having prior experience working in the stock market is key to becoming an efficient sub broker. Experience as a stockbroker, financial advisor or banking professional will boost your career prospects. 

The financial attitude and experience will allow you to assist clients with their investment decisions. Moreover, you can advise them to select the right investment strategies. 

Join a Share Broking Franchise

The final stage of becoming a sub-broker is partnering with a share broking franchise. For this, select the franchise and business model that suits your purposes. Also, consider the firm’s reputation, its payment process and your commission percentage. 

Next, check the eligibility criteria for the sub broker franchise. If you fulfil it, you need to submit the following documents to complete your registration process –

• Registration form
• Address proof, which can be your Aadhaar card or electricity bill
• Identity proof, which can be your passport, driving license or Aadhar card
• Educational certificates
• Professional experience documents
• Agreement between you and the franchise
• Photographs

You also have to submit the required registration fees along with these documents.

What Essential Skills does a Sub Broker Need to Have?

As a sub broker, you must know the economic fluctuations and financial market trends. Other crucial skills in this profession include – 

• Excellent communication and customer assistance
• Technical knowledge of using excel sheets and online investment portals
• Risk analysis abilities
• Profound understanding of investment avenues
• Understanding customer needs and financial objectives

Summing Up

You need to constantly update your knowledge of financial markets to have a prolific sub broker career. An understanding of government regulations and financial compliances is also necessary. 

Most importantly, you must have the ability to provide quality customer service by utilizing your knowledge. 

Learning from every customer interaction and refining your skills is essential for your progress. It will enable you to develop a solid customer base and improve your professional image.