What all must i do to start a stock brokerage company?

Question

I want to know how to do this because i have a lot of knowledge on what to do. but i i only know how to buy from stock brokers. so what must i do to buy and sell stock for coustomers with out having to use another brokerage firm. i think it would be kind of stupid for a broker to have to use another broker to buy stocks.

Answer 1

Remember that recommending stocks is a highly regulated industry and comes with a huge amount of legal and financial liability. You cannot just become a broker without having the appropriate capital, licenses, exchange seat, personnel, hardware and knowledge.

I fear that your naivite means that you have not researched this too well. I warn you to not be so cavalier in your approach as it can cost you everything.

If you are serious about becoming a "broker", perhaps there may be an alternative. If your country's regulations permit, it may be worthwhile to become a sub-broker or "remiser" - which allows you to act as a broker with some benefits of having the infrastructure of a bank behind you. If you live in the US, you are SOL.

Answer 2

set up a account with any broking service, some brokers require a min. of $500 some do not, save round. many brokers accessible scottrade, Ameritrade, tradeking, brookstone securities etc, examine the pricing and commerce to placetrade cases, I manage Scottrade because they execute the commerce the fastest any put off in a commerce can value you funds, I have considered some trades bounce 3 to 5 % because of a put off in commerce and that is major