I am a sub-broker from Gill Broking. Gill Broking is the good trading company, deals with online commodity trading. However, going to become sub-broker with a brokerage company needs to share the brokerage rates. That is my brokerage share is 70:30 means, what I earn from selling my commodity I will get 70% of it and the rest 30% is taken by the company.
However, most of the brokerage just sell you brokerage and leaves you on your own. But it's not the same with me. I am happy with the services provided by Gill Broking. However it hard to start at the beginning when I don't have the knowledge, I would also not hide the fact that I have faced losses sometimes but at last with the well experienced I am able to do trading myself now.
Some of the challenges of becoming a sub-broker are
1. You need to make clients. More clients mean more business. Although it is the difficult part in the beginning as you will have to come across the people who are already in trading at very low brokerage rates. It’s sometime confusing why the company giving so low brokerage rates.
2. You are the only guide to your clients whatever the problems your clients are facing it comes to you. You should have complete information and knowledge of online commodity trading. Although there are many brokerage companies who make you promise for handling your clients, it’s not always the same. As experience with Gill broking, I have far better experience as in my absence the dealers from Gill Brokerage solve all the queries of my clients. Although final decisions made by my clients are from my side.
3. You must have complete knowledge of online commodity trading. Although you can learn soon but keep updating yourself with brokerage price, commodity price and latest trends help you to be successful become a sub-broker. You should be proactive with the latest trends to encourage your clients to trade. Active interaction will give confidence to your clients.
Most of the clients want quick profit so they basically rely on you for new strategies and tips for online commodity trading. The good thing is that I already had the Trading account with Gill Broking trading company with good sub broker franchise services. Most of the clients are unaware about the fact that the sub-brokers will give far better services.
If you ready to become a sub-broker make yourself ready to face the challenges in an online commodity market.