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India - Obtain a Stock Broker License

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Procedure[edit]

In order to operate as a Stock Broker,applicant is required to obtain registration under SEBI (Securities and Exchange Board of India)

Apply In-Person

  1. Please go to the stock exchange to apply.
  2. Application form can be obtained from the office on your visit or can use the following link to download. :link for form A refer page - 25
  3. Submit completed application along with required documents for new membership to the membership department of stock exchange.
  4. Authorities will check the details submitted details. If all are in place, user will get a acknowledgement for the submitted application.
  5. The submitted application and documents will be processed internally to get approval from the board as well as certification from SEBI.
  6. After processing, applicant receives offer letter of provisional membership from the board.
  7. With provisional membership letter, applicant need certification from SEBI.
  8. SEBI certificate will be issued after their internal processing.
  9. Applicant after having both the documents shall submit enablement document to membership department as guided.
  10. Membership department will forward their recommendation to enable member on the trading system.
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Required Documents[edit]

  • Application from
  • Applicant name
  • Applicant address
  • Name of the trading firm
  • Educational qualification of applicant
  • Address of establishment
  • Mobile number
  • email Id
  • Aadhaar Card

Office Locations & Contacts[edit]

National Stock Exchange of India Ltd.,
Exchange Plaza, C-1, Block G,
BandraKurla Complex,
Bandra (E), Mumbai – 400 051.
Tel No: (022) 26598100-14 / 66418100
Fax No: (022) 26598120
Click here for office address & contacts.



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Eligibility[edit]

  • Age: Minimum age : 21 years
  • Should be an Indian Citizen
  • Education Should be at least HSC or equivalent qualification
  • Experience: Applicant should have an experience for not less than two years as a partner with, or an authorised assistant or authorised clerk or apprentice to, a member.



Fees[edit]

  • Stock brokers need to pay membership fees to the stock exchange.
  • These fees are only applicable once the SEBI deems the applicants are eligible to become SEBI registered stock brokers.



Validity[edit]

  • This certificate shall be valid till it is suspended or cancelled in accordance with the Regulations.


Documents to Use[edit]

  1. Click here to download the necessary set of documents to use.
  2. Click here to download set of Documents Required for Enablement



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Sample Documents[edit]

Please attach sample completed documents that would help other people.



Processing Time[edit]

One month



Related Videos[edit]

Videos explaining the procedure or to fill the applications.
Attach videos using the following tag <&video type="website">video ID|width|height<&/video&> from external 
websites.
Please remove the "&" inside the tags during implementation.
Website = allocine, blip, dailymotion, facebook, gametrailers, googlevideo, html5, metacafe, myspace, revver, 
sevenload, viddler, vimeo, youku, youtube
width = 560, height = 340, Video ID = Can be obtained from the URL of webpage where the video is displayed.
e.g In the following url "http://www.youtube.com/watch?v=Y0US7oR_t3M" Video ID is "Y0US7oR_t3M". 



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Instructions[edit]

  • A stock broker need to follow the guidelines laid down by SEBI for the registration process.
  • The application process is the same where information such as Name, Address, PAN Number and other important details need to be mentioned, while applying. You will need to also mention the stock exchange in which you would like to trade in.
  • Mention the different segments that you are trading in such as equity derivatives, equities, currency derivatives and also for each category such as trading members, trading cum self-clearing members and professional clearing members.
  • Stock brokers need to get a Certificate of Registration (CoR) from SEBI in order to proceed with trading. Under the guidelines of the stock exchange, no stock broker is allowed to practice until he/she has a valid CoR from SEBI. A sub-broker can register as a sub-broker with SEBI,similar to a stock broker.



Required Information[edit]

  1. Name of the applicant
  2. Address
  3. PAN Number
  4. Mobile Number
  5. Telephone Number



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Need for the Document[edit]

  • Stock brokers are licensed professionals who advise clients and manage client investments. They perform such tasks as purchasing and selling stocks, bonds and other securities.



Information which might help[edit]

  • Since SEBI is the most stringent and powerful body in India, and stockbrokers are under the purview of SEBI,



Other uses of the Document/Certificate[edit]

Please explain what are other uses of obtaining this document/certificate.
e.g. Birth Certificate can be used as proof of identity.



External Links[edit]

National Stock Exchange
. Requirements for a Licensed Stock Broker: Education and Career Info
How to Become a SEBI Registered Stock Broker: A Complete Guide

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Others[edit]

More information which might help people.