Are you interested in becoming a sub broker in RK Global but don’t know much about them? Then, let’s help you in clearing your confusion.
Firstly, it is essential to know what a sub-broker is?
SEBI defines that a sub broker is not considered a trading member of the stock exchange but only an agent who helps the investors. Sub-broker is registered with SEBI after clearing the certification exam.
Now, when we are clear about the meaning of sub broker. It’s time to tell you the stockbroker with which you can become a sub-broker in RK Global.
RK Global is a discount broker founded in 1995. Its headquarter is located in Mumbai, and the CEO of the company is Shri Ramesh Kumar Bhagchandka. Its retailing broking on PAN card was launched in India in 2004 after making a strong bond with their clients.
Currently, RK Global is present in more than 24 states and 150 locations in India. It has over 250 franchise outlets with a happy and robust client base of 90,000 in the whole country.
Moreover, RK Global is a registered member of major stock exchanges of the country – NSE, BSE, MCX, and NCDEX. If you are trading with RK Global, then you will be able to provide the trading services to your clients in the following segments :
- Mutual funds
- NRI services
In this article, you will be getting a massive amount of information regarding how to become a sub-broker in RK Global, like its business models, eligibility criteria, documents required, and much more.
Let’s start with the business models first!
RK Global Sub Broker Models
There are two different business models to become a sub broker with the discount broker. The revenue sharing ratios vary with other security deposit fees.
RK Global provides two types of business models :
- Sub broker
- Online Franchise
RK Global Sub Broker Model
A sub-broker model is offered by almost all stockbrokers. This model gives you an opportunity to run your own business to become a sub-broker in RK Global.
In this sub broker business model, you need to have a workspace where you and your team members can work.
You should at least have a minimum infrastructure to work and run your business correctly. Through this business model, you can earn pretty well. You will be working under RK Global and have access to your broker, which is necessary for trading and investing, including research tools, reports, etc.
Benefits of Sub Broker Model :
- You can become an entrepreneur & have the right to fix the brokerage of your clients.
- You will get right to everything used by the broker for trading, like tools, techniques, etc.
- Get an attractive share of the revenue.
RK Global Online Franchisee Model
The Online Franchisee Model is best for those who want to work part-time or full-time to earn extra money. There is no need for an initial investment to start your business under the online franchise model.
You can make your clients online and trade for them too. Plus, you will get a certain amount of revenue produced by your clients.
Benefits of Online Franchisee Model :
- You don’t need any workspace in the Online Franchise model.
- The workload is significantly less as compared to the sub-broker model.
- You can also trade for your clients online, sitting anywhere.
RK Global Sub Broker Revenue Sharing
A client can expect to make hefty amounts of money as RK Global revenue sharing is generally considered to be among the best in the industry.
The broker understands the importance, the value their clients bring to their business and believes in keeping their clients by paying them well.
The revenue sharing models vary according to the business model. You can find the full details below :
Sub Broker Model
RK Global offers a revenue sharing of 60%-80% under the sub broker model. The rest of the percentage range, which is 20%-40%, is for the leading broker.
The percentage range is decided on the number of customers you have plus the amount of security deposit.
So, the more clients, the high the security deposit, and the higher the percentage of the revenue shared with you.
Online Franchise Model
As mentioned above, the workload is not that much in Online Franchise Model, so the revenue sharing is ranging between 40%-60%. The minimum of 40% revenue you will get from the client of yours.
Whereas RK Global will get a maximum of 60% revenue. Though the range of revenue is not fixed, you can bargain with the broker at the time of the final agreement.
Here is the table that mentions the RK Global revenue sharing for your convenience.
How To Become a Sub Broker in RK Global
The sub broker registration process with RK Global is as follows :
- Fill the form with the details like your name and your mobile number correctly.
- One of their representatives will get in touch with you to verify your interest, your background and your business objectives. You will get a call from the executive of the broker to fix an appointment with the team of the broker.
- You can ask anything related to the model like revenue sharing, security deposit, their benefits, etc., from the call you will get from the executive.
- Now, you will be asked to submit all the required documents with a cheque of security deposit.
- Once the verification can be done either via video call or skype, a contract will be signed between both parties, and they will provide you with an account ID.
Once all the verification processes get done, you will get your sub-brokership id within 7 days.
So, you are good to start your business now with the broker and earn an attractive revenue.
RK Global Sub Broker Eligibility Criteria
Thinking about how to become a sub broker in RK Global, then you need to possess the following for the same :
- Minimum of 1 to 2 years experience in selling financial products although RK Global will take care of the freshers too.
- A person who has a good record with a good client base(mostly in the financial service sector).
- The minimum amount of Rs.1 to 2 lakh for start-up and the ability to invest in infrastructure.
- Office space is required for the sub-broker but not for the franchise operation.
RK Global Sub Broker Charges
To register as a sub broker with the stockbroker there are certain charges that you will have to pay. The list of RK Global Sub Broker Charges is as follows:
RK Global Sub Broker Security Deposit
RK Global Sub broker Security Deposit is a one time charge that you will have to submit at the time of registration. Again, the amount to be deposited varies according to the type of business model.
Sub Broker Model
If you want to start an association to become a sub broker with the discount broker, you have to make an initial deposit as an investment ranging between Rs.1,00,000 to Rs. 2,00,000.
Online Franchise Model
In the online Franchise model, you don’t have to make any investment to start your business. Your business can be done easily online, sitting in one place.
RK Global Sub-Broker Infrastructure Cost
There are some infrastructural costs involved in the registration process as well. You need to set up your office at a good locality, which includes a fine internet connection and space. Basic amenities like desks, landline, internet connection, and a clean and neat atmosphere. The expenses of basic amenities would be around Rs,1,00,000.
But, there are no such demands in the franchise model, except for a Wi-Fi connection and a portable landline that can be used to connect with the clients without any interruptions.
If you are looking for a business opportunity with a broker registered with NSE then check how to become sub broker in NSE?
Documents Required To Become a Sub Broker in RK Global
You need to submit some documents to register as a sub broker with the stockbroker. Below are the details of the documents given:
- Identity Proof – PAN Card, Adhaar Card, Passport, Driving License.
- Proof of age- birth certificate, PAN Card.
- Passport size photograph.
- Proof of income and business documents.
- Qualification proofs.
- SEBI registration certificate.
In the end, we can say that RK Global is the old one in the market. It provides the services of free equity and research tools and techniques through text messages and Whatsapp.
The company’s customer service is very efficient, you can quickly contact the customer support desk for all your queries. The two business models offered by RK Global are very attractive with low investment but high revenue sharing ratio.
If you are still interested in becoming a sub broker in RK Global, it’s an excellent option to see its benefits, including its business associate models.
In case you wish to become a sub-broker or a stockbroking business partner in any capacity, let us assist you in taking the next steps forward: