Ca and business

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Shalini singh (Querist)

28 February 2012 If i am working in an industry,so will i able to do business of subbroking? If yes, whether i can also apply to part tym cop with those 2 abv work and can be a partner in a firm?

CA SURENDRA KUMAR RAKHECHA

CA SURENDRA KUMAR RAKHECHA (Expert)

11 March 2012 You can have sub-broking business in the name of one of your family member who is graduate and if required by the firm; they should pass required qualification prescribed by the stock exchange (which is not so hard to do).
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For the above work; you need not have COP
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Moreover; part time CP is not given by the ICAI now.
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Better you invest systematically in stock market directly with the help of technical charts and study of published balance sheets of the companies.
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You will earn more than the method which you think referred hereinabove.
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Because there may be chances that your partners do F&O transactions in the name of the firm and ultimately you may lose a huge money.
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( Thenafter No Future and No Option ).
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I have seen many cases; who have ruined their career in F&O.

Shalini singh

Shalini singh (Querist)

12 March 2012 Sir, May I know whether I can take that Subbroking Firm in my name itself with doing Job???

CA SURENDRA KUMAR RAKHECHA

CA SURENDRA KUMAR RAKHECHA (Expert)

12 March 2012 Yes; you can do but not advisable.
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Because the brokerage rates are too high. The brokers give high liquidity on small margins and when markets crashes in a day; you may find yourself in trouble when your clients don't pay the dues.
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Better go for coaching/counseling/public speaking/writing articles which will make a better career.
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These income would be without any risk and don't forget that while doing stock broking business; you have to be involved in it for the whole day.
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