If sheer Brand equity is the criteria for your search operation for the best stockbrokers to associate with. It would probably end at Geojit. We know you have the name. Learn the process of how to become a sub broker in Geojit.
Like any industry, there are some brands in the stockbroking industry too, that don’t need an introduction. Just the slightest mention of their name is enough to bring a yes out of the listener.
The listener could be an aspiring trader, investor who is aiming for glory in the investment world.
Or, it could even be an aspiring entrepreneur who dreams of managing a team of professionals and making a name for themselves by launching a business.
As far as business opportunities in the stock market go, becoming a sub broker in Geojit is as good as they come.
The full service broker offers sub brokers the opportunity to cater to a wide audience of over 2.8 Lakh active clients on NSE.
The broker has been in operations since 1986 and has an enviable presence with over 460 branches across India and Gulf countries.
Since Geojit is a member of a number of stock exchanges – NSE, BSE, MCX, NCDEX, it allows investment opportunities in a vast array of investment products.
Further, the broker keeps on running various attractive offers.
In short, the broker is well on its course to attract a huge number of customers in time to come. So, there is huge potential in becoming a sub broker in Geojit.
Here in this article, we take a look at what else is required in the sub broker registration process.
Geojit Sub Broker Model
As mentioned earlier, the Geojit sub broker model is among the finest business opportunities available in the stock market.
However, in quite a strange scenario, the broker offers only one sub broker model.
Under the sub broker model, the individual holds the responsibilities of an Authorized Person. The individual’s major role is to acquire new clients for the broker and suggest investment products as per their goals.
In the Geojit franchise model, the individual will get full assistance in setting up the business. In addition to this, the sub broker will get the opportunity to distribute all the investment products offered by the broker.
The list includes ⇒ equity, IPO, Derivatives, commodity, currency, Mutual Funds, and so on.
The broker believes in remunerating their partners well and therefore offers the best in industry commission rates. Geojit offers a 60:40 commission rate to the sub broker.
However, the commission rates are negotiable in nature, but still how much sub broker earns depend on :
- The volume of trade you bring in to the broker
- The size of brokerage you can manage to get.
In addition to this, there are sub broker charges as well. The sub broker will be required to set up an office and pay up a security deposit upfront at the time of registration.
The minimum initial investments can fall in the bracket of ₹1.5 – 3 Lakhs.
Geojit Sub Broker Process
As far as the sub broker registration process is concerned, it is as simple as possible.
You don’t have to worry about being caught up in the whole registration process.
You simply need to follow the below-mentioned steps to become a Geojit sub broker:
- Provide us your details in the below-mentioned form. The form contains basic details such as your Name, Contact Number, City to initiate the process.
- As soon as you submit the form. We will arrange a telephonic interview with a Geojit representative.
- This telephonic interview is the opportunity for you to share your background details, business objectives with the broker’s representative.
- Later, if they want to take your sub broker application further, the Geojit representative will negotiate an appointment.
- You will be provided with the commission rates of the Geojit sub broker models. They will share details such as the initial investment amount, charges responsibilities of a sub broker, etc.
- Later you will need to submit the necessary documents.
- Upon submission, the documents will be sent for verification.
- Once the documents get verified, you will be provided with the Geojit Sub Broker account details. You will need your account credentials such as the login ID and password for logging in to your account.
- The password can be changed later after the first successful login.
Geojit Sub Broker Eligibility
The broker lists requirements that need to be met in order to be considered suitable for the business partnership.
A sub broker will be selling the products offered by the stockbroker, so a basic understanding of each investment product is essential for the cause.
Following is the list of eligibility criteria to become a sub broker with the discount broker:
▶️ The applicant should at least be 18 years old or older.
▶️ SEBI registration certificate.
▶️ The individual should have at least completed the 10th. The individual should have an HSC certificate. The individuals that hold an MBA or degree in finance will be given preference.
▶️ Individuals having experience in the financial market will be given a preference.
▶️ The applicant should hold proper NISM certification for the chosen segments.
Geojit Sub Broker Charges
A sub broker partnership with the broker sure is a golden opportunity. Like any business association in the industry, it too comes with a host of expenses.
The initial expenses are a major source of concern for individuals considering a business opportunity.
As for the talk of Geojit sub broker charges, it includes a security deposit as well as the infrastructure charges to set up an office.
SEBI registration fees are the first charges associated with the sub broker registration process. Along with which you will have to pay an amount of ₹2360 + the applicable GST charges.
The individual will have to submit the security deposit at the time of registration. This amount is refundable in nature and will be returned when the contract is canceled or terminated.
Then there are infrastructure charges as the sub broker will need to set up an office to begin extending services to their clients. These depend on an individual’s choice of location for setting up an office.
However, you can consider the initial security deposit will fall in the region of ₹1.5 Lakh. Likewise, the infrastructure costs for the sub broker model are considered to be around ₹1 – ₹1.5 Lakhs depending on the location of your office.
So, the individual will have to be able to pay up a minimum initial investment of around ₹3 Lakhs for the business partnership.
Documents for Geojit Sub Broker
Geojit sub broker registration process requires the individual to submit a couple of documents. The broker has enlisted a well-defined list of documents that an individual must possess at the time of registration.
The documents for Geojit sub broker are listed below:
⭐ PAN Card
⭐ Identification Proof – PAN card, Aadhaar Card, Voter ID Card, Passport, Driving License.
⭐ Address Proof – Aadhaar Card, Voter ID, Driving License, Rent Agreement, Passport, Hostel Address, Electricity Bill, Telephone Bill.
⭐ Qualification Proof – Copy of 10th Marksheet, Graduation certificate, NISM certification.
⭐ Age Proof – Aadhaar Card, Passport, Driving License, Voter ID Card, or other valid certificates where age is mentioned.
⭐ SEBI Registration Certificate
⭐ Passport Size Photographs
With an experience of over 34 years operating in the stock market industry, Geojit is among the earliest as well as most reliable stockbrokers around.
The full service broker based in Kerala has a firm foothold in the Indian stock market as well as GCC countries.
The broker known to provide quality demat account services boasts of an active client base of over 2.8 lakh.
The number is indicative of huge potential in becoming a sub broker in Geojit.
The sub broker will get to distribute all the financial products offered by the broker and will have full assistance in setting up the business.
The prospect is sweetened by the prospect of handsome remunerations in the form of commission. Geojit offers a 60:40 commission rate to the sub broker.
This rate can go in the favor of the sub broker if they manage to get more brokerages for the broker.
As for the question of the sub broker registration process, it is as simple as they come.
However, the individual will have to present some documents such as ID proof, qualification proof, address proof, etc.
Along with this, it is advised that you have a good look at the eligibility criteria as mentioned by the broker.
Then there are certain charges associated with the partnership model in the form of a security deposit and infrastructure charges to set up an office.
Keeping all the aspects in the head, it is safe to say that an opportunity to associate with Geojit is worth every penny.
Interested in a sub broker partnership with the broker? Let us assist you in taking the process further.
Simply fill in the details mentioned in the form below :