Glossary
/Sub-Broker
What is a Sub-Broker?
Ever walked into a small local trading office in your city? That is usually one of these. They do not have their own stock exchange membership. Instead, they act as a middleman for a massive main broker like Angel One or Zerodha. Their main job is to find new customers, help them open demat accounts, and handhold them through trades. They earn a chunk of the brokerage commission from the parent broker. SEBI strictly regulates them, but they cannot legally hold your money or shares in their own accounts.
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