Become a Sub-Broker of IBMA (for e-series products of NSEL)
Housewifes, Students, working/Non-working individual, professionals, firms, Brokers, Corporates etc. Can now become the Sub-Broker of IBMA and earn additional income for themselves and their families by supporting the business endeavor of IBMA. Kindly read and comply with the below mentioned guidelines and enjoy the benefits.
How to Became a Sub-Broker :
To become a sub-broker of Indian Bullion Market Association Ltd (IBMA) you need to fill in the hard copy of application form and submit Sub-broker agreement (the agreement is to be executed on a non-judicial stamp paper of Rs.100/-).
To obtain sub-brokership of IBMA you will be required to give non interest bearing refundable deposit of Rs.50,000/-(for individuals) OR Rs.1 Lac for corporates ( No trading limits will be given on this amt).
The brokerage revenue sharing will be 50:50 (50% of IBMA & 50% of sub-broker) and same will be shared on weekly /fortnightly/ monthly basis as mutually agreed.
IBMA will provide Client ODIN software to the sub-brokers through which they can do the trade for their clients. The clients can also trade independently though ODIN net.net software (internet Trading)
Sub-Broker will have to register minimum 25 number of client directly with IBMA within the first 3 months of signing sub-broker agreement.
Sub-broker will have to complete the KYC documentations of their clients and forward the complete set of documents to IBMA Corporate office (Add: 1st Floor, Malkani Chambers, Off .Nehru Road, Near-Orchid Hotel, Vile Parle (East), Mumbai – 400 099).
IBMA office will allot the client id & password to the clients for starting trading activities.
For starting the trading through IBMA, the client should have valid Bank A/c ,Pan Card ,& Commodities D-Mat account.
The clients will have to pay the margin amount before starting online trading through IBMA
The payin / payout by/to the client will be made directly to/by IBMA.
The client will have to pay all the necessary charges to IBMA towards brokerage, Govt taxes/dues, delivery, packaging, vault, & turnover charges etc, as applicable from time to time.
Documents required to be submitted by the Sub-Broker :
Proof of Bank Account (Any one of the following may be submitted).
Copy of Bank Statement.
Copy of first page of the Bank Pass Book.
A cancelled cheque (only if the account holder's name is printed on it).
Pan Card Copy of approved user/ Authorized person.
Proof of Address (Certified copy of any one of the following may be submitted).
Passport copy.
Voter ID card copy.
Driving license copy.
Bank Pass book copy.
Electricity / telephone bill in the customer’s name (not more than two months old).
Leave and license agreement.
Latest Networth from a Chartered Accounted be submitted.
Application for approval as Approved Dealer (Downloadable).
Individuals / Firms can also become Referral (for e-series products of NSEL).
Housewifes, Students, working /Non-working Individuals, Professionals, firms, Brokers, corporate etc. can now become the “Referrer” of client for IBMA and earn additional income for themselves by referring their friends, relatives, etc. to IBMA for becoming client of IBMA, to trade in E-Series products. The referral has to just refer the client to IBMA and he / she can start earning income on the trades which will be done by the respective clients only in the first year. So grab this opportunity and start earning income (10% of the net brokerage generated by the client, who was referred to IBMA, will be shared with the respective referrer.)
How to become a Referrer :
To become a referrer of Indian Bullion Market Association Ltd (IBMA) you need to fill the application form and submit Referrer agreement (the agreement is to be executed on a non-judicial stamp paper of Rs.100/-).
IBMA may provide on request to the refferrer,ODIN Net.net software utility through which the referrer can only view the market rates.
Referrer will have to register minimum 10 numbers of clients directly with IBMA within first 1 month of signing Referrer agreement.
Referrer will coordinate with clients to complete the KYC documentations of the respective clients till the complete set of documents is received at IBMA office.
IBMA office will allot the client id & password to the clients to start trading.
For starting the trading through IBMA the client should have valid Bank A/c, Pan Card ,& Commodities D-Mat account .
The clients will have to pay the margin amount before starting online trading through IBMA
The payin / payout by/ to the client will be made directly by IBMA.
The client will have to pay all the necessary charges to IBMA towards brokerage, Govt taxes/dues, delivery, packaging, vault, & turnover charges etc, as applicable from time to time.
No deposit is taken from referrer.
Documents required to be submitted by the Referrer :
Proof of Bank Account (Any one of the following may be submitted).
Copy of Bank Statement.
Copy of first page of the Bank Pass Book.
A cancelled cheque (only if the account holder's name is printed on it).
Pan Card Copy of Referrer.
Proof of Address (Certified copy of any one of the following may be submitted).
Passport copy.
Voter ID card copy.
Driving license copy.
Bank Pass book copy.
Electricity / telephone bill in the customer’s name (not more than two months old).
