Who is Stock Broker
Stock Brokers are the middlemen between the buyers and sellers who earn money through stock trading. He buys and sells stocks and Shares for his customers. They work professionally in their field and hold a Stock Broker's license for the same.
Table of Contents
- Who is Stock Broker
- What is The Role of Sebi in Stock Exchange?
- How to Become a Stock Broker in India?
- The Stock Broker Registration Procedure is as follows:
- Stock Broker Salary in India
- What Happens if Stock Broker Goes Bankrupt in India
- Best Apps for Stock Market Trading India
- Best Apps for Stock Analysis & Market Research for Beginners
- Become A Stock Broker or Sub Broker
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Mainly, they are appointed by the Securities Exchange Board of India (SEBI) for their services. The stock market is one of the most important pillars of any economy because it plays an important role in determining the value of a particular company's shares. Stocks are bought and sold through specialized brokers known as "Stock Brokers" or "Stock Market Brokers". They are also licensed under the Securities Contract Regulations Act, 1956.
If you really wanted to work as a stockbroker, here we discussed the process to become a stockbroker.
What is The Role of Sebi in Stock Exchange?
The Securities and Exchange Board of India (SEBI) is the statutory body that regulates the money market in India. The primary objective of SEBI is to regulate the securities market in India. It was established by an act of Parliament I.e. Securities and Exchange Board of India Act, 1992 (15 of 1992). The Money Market plays a pivotal role in determining the interest rate in India, inflation level, exchange rates, price fluctuations in stocks and other capital markets. In India, the Securities and Exchange Board of India (SEBI) regulates stock exchanges. Protecting investor interests, promoting, and regulating the Indian securities markets are among SEBI's major and primary responsibilities.
Read Our Blog: Listing of Companies in Stock Exchange
How to Become a Stock Broker in India?
- Step 1: Fill out a New Membership Application and send it to NSE - National Stock Exchange of India, Membership Services Department.
- Step 2: The application is sent to the Membership Recommendation Committee and Membership Selection Committee after it has been approved by the Membership Services Department.
- Step 3: The Membership Selection Committee reviews the application and forwards it to the Member Compliance Department for approval.
- Step 4: You will receive an Offer Letter of Provisional Membership once your application has been approved.
- Step 6: A certificate of registration as a stockbroker may be granted if it is submitted to the Board on Schedule I, Form A, through the stock exchange of which he is a member. (below we attached the Schedule I, Form A, Download from here:
- Step 7: You will have to submit documentation to the SEBI in order to get registered. After the SEBI will take into account when deciding whether or not to grant a certificate, if approved then you will receive the trading system.
The Stock Broker Registration Procedure is as follows:
After considering the application under regulation 3 and determining that the applicant has met the conditions set forth in regulation 5, the Board may issue a certificate of registration in Form D to the stockbroker and send notice to the stock exchange(s) to which it belongs.
Stock Broker Salary in India
The salary of a stockbroker is not fixed. Sometimes clients pay him a brokerage commission and if he or she is working in any company then from entry-level salary may be below INR 2.9 LPA and the experienced person can get between INR 5.8 LPA to INR 10 LPA or much higher as per clients.
What Happens if Stock Broker Goes Bankrupt in India
In India, if your stock market broker goes bankrupt, your stocks and shares are practically unaffected. The stockbroking market follows SEBI's regulations and compliances.
Best Online Stock Broker in India
The following is a list of the top online stock brokers in India in 2021:
- Angel Broking
- HDFC Securities
- Kotak Securities
- Motilal Oswal
- SBI Securities
- IIFL Securities
- Reliance Securities
Best Apps for Stock Market Trading India
- Upstox PRO - Online Share/Stock Trading, Options Trading App
- 5Paisa Mobile App
- Zerodha Kite
- Angel Broking Mobile App
- IIFL Markets
- FYERS - Online Stock Trading / Investing App
- Share khan: Share Market App for Sensex, NSE, BSE, MCX
- Edelweiss Mobile Trading App
- HDFC Securities Mobile Trading App
- Kotak Stock Trader Mobile App
Best Apps for Stock Analysis & Market Research for Beginners
We've compiled a list of Indian stock market and finance Research apps that are useful for both beginner and experienced investors.
- Money Control
- Stock Edge
- Google Finance
- NSE Mobile Trading
- Economic Times(ET) Markets
- Ticker Tape
- Yahoo Finance
- Investing. com
- Market Mojo
Become A Stock Broker or Sub Broker
Getting a stock broker license in India has never been easier. As a Legal advisory stockbroker registration firm, Corpseed, came out with a simple, straightforward strategy to become a stockbroker. Corpseed is the only brokerage dealing firm that focuses on getting you licensed as a stockbroker with an initial investment.
This portion of the site is for informational purposes only. The content is not legal advice. The statements and opinions are the expression of author, not corpseed, and have not been evaluated by corpseed for accuracy, completeness, or changes in the law.
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