If you're thinking of starting a career in India’s stock market world, there are multiple ways to begin, without actually being a full-time stockbroker. Three common routes are becoming a Sub-Broker, an Authorized Person, or a Remisier.
Each of these roles lets you connect clients with a registered stockbroker and earn income from their trades. But the structure, responsibilities, and earning potential for each are different. Some involve more freedom and client control; others are low-investment and low-risk options. Knowing which one suits your goals is important before you take the plunge.
In this guide, we’ll break down the meaning of each role, compare the key differences, and help you figure out which one might be the best fit for you, whether you're a finance student, a retired professional, or someone looking for an extra income stream.
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Understanding the Roles: Sub-Broker, Authorized Person, and Remisier
Let’s look at each role in a simple way
Sub-Broker
A Sub-Broker was an individual or firm that acted as a bridge between a main broker (a SEBI-registered stockbroker) and the client. They did not directly trade on the stock exchange but handled clients on behalf of a broker.
However, SEBI phased out the Sub-Broker category in 2018. New registrations as a sub-broker are no longer allowed. Those already registered were required to convert to an Authorized Person.
Authorized Person (AP)
An Authorized Person is appointed by a stockbroker to handle clients and bring in business on behalf of the broker. They operate under the broker's license but can build their own client base. They get access to the broker’s trading platform and can offer clients a wide range of services — just like the broker, but under a tie-up agreement.
To become an Authorized Person, one must register with the stock exchange (like NSE/BSE), and sign an agreement with a broker. This is now the standard path to enter the stock broking business.
Remisier
A Remisier is similar to an agent or referral partner. They simply refer clients to a broker but have no control over their trades or accounts. They earn a commission from the trades their referred clients make. There’s no infrastructure or trading platform needed — just a basic agreement with the broker.
This is ideal for those who want passive income with minimal involvement.
Comparison Chart: Key Differences Between Sub-Broker, Authorized Person & Remisier
Which One Should You Choose Based on Your Goals?
Here’s a quick guide based on your career and financial goals:
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If you want to build a long-term business in stock broking: Go for Authorized Person. You’ll get access to trading platforms, tools, and a steady income from client trades.
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If you want to earn money through contacts or referrals: Choose Remisier. It’s low-risk, doesn’t need setup, and suits people who want passive or part-time income.
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If you were a sub-broker earlier: You must transition to an Authorized Person to stay compliant with SEBI regulations.
India’s stock market is growing fast — and so are the opportunities around it. Whether you want to make a full-time career, build a side business, or earn through networking, there’s a role for you.
While the Sub-Broker model is no longer active, the Authorized Person route is now the most structured and rewarding, giving you more freedom and earning potential. On the other hand, the Remisier model is perfect for those who want to keep it simple and refer friends or contacts without actively managing clients.
Understand your strengths, time availability, and financial investment capacity — and choose the option that helps you grow.
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