Hi,
Does any body have a clear idea of the business model of Minance Capital, Bangalore? They claim to be a registered sub brokers of Angel broking and can thus manage their clients' accounts (placing orders on clients behalf). Also, they share the profits generated in the clients account in a ratio with the client. Is this legally permitted by SEBI and exchanges? Per my understanding, sub brokers can only share brokerage with the main broker on mutually agreed terms and should not charge any fee directly from the client. If that is case, charging a consultation fee from the client will not be legal. Can any one throw some light on this, please?
Regards..
Does any body have a clear idea of the business model of Minance Capital, Bangalore? They claim to be a registered sub brokers of Angel broking and can thus manage their clients' accounts (placing orders on clients behalf). Also, they share the profits generated in the clients account in a ratio with the client. Is this legally permitted by SEBI and exchanges? Per my understanding, sub brokers can only share brokerage with the main broker on mutually agreed terms and should not charge any fee directly from the client. If that is case, charging a consultation fee from the client will not be legal. Can any one throw some light on this, please?
Regards..
Business Model of Minance
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