A person who facilitates transactions between the buyer and the seller with an aim of earning a commission is known as a broker. In stoke exchange, there are two main types of brokers; the stockbroker and the sub-broker. The stockbroker professional individual who is hired by a brokerage company to sell and buy stocks for a commission. On the other hand, a sub-broker is a professional individual who is not a member of the stock exchange but acts as an agent of a trading member. The main benefits of the sub-brokers are to maximize earning and saves time for the trading members. In India, the number of sub-brokers is high therefore one should consider the following when looking for the best.
A good sub-broker should be authorized. In order for one to become an authorized person in India, he/she should meet the following requirement; have an Indian citizenship, a corporate registered body, a registered limited liability partnership and a registered partnership firm under the Indian Partnership Act. After being authorized, the sub-broker is provided with a permit. One should never hire an unauthorized sub-broker.
Affordable pricing is another feature of a good sub-broker. Although a sub-broker offer important services to the members of the stock exchange, the sub-broker is not supposed to have hiked prices. On the other hand, since the number of sub-brokers in India is high, a client is supposed to consider the pricing of a number of them before settling on one. It is also advisable to have a budget.
The best sub-brokers in India are reliable. The sub-broker himself/herself or the sub-broker franchise should offer quality services. The clients will, therefore, have peace of mind. In order to identify the reliable sub-brokers, please read the reviews.
Improved customer service is another attribute of a good sub-broker. The sub-broker should have a 24/7 working telephone line and some email addresses in order to offer support to the clients. The sub-broker should also have improved communication skills in order to establish good relationships with the clients. For instance, Kotak securities franchise sub-brokers have better customer service.
The best sub-brokers are experienced. A sub-broker needs to have a minimum experience of 2 years working as a sub-broker or as an employee of a sub-broker franchise. A sub-broker should also have a minimum of 21 years of age.
Finally, the best sub-brokers are academically qualified. The sub broker should have passed in the 10th standard or an equivalent examination.
Study more about sub brokers in India: https://en.wikipedia.org/wiki/Stockbroker.