Sub-Broker FAQs | Unocoin
What is Sub-Broker?
- Sub-Broker is a programme initiated by Unocoin Pvt. Ltd. to facilitate the masses who do not understand trading and find trading difficult or who cannot spare sufficient time on trading.
Who is a Sub-Broker?
- A Sub Broker is a person who will take care of order placing and canceling on behalf of the user.
How does a Sub Broker work?
- An Unocoin verified user can opt for any sub broker to handle his/her orders on behalf of him/her. After logging-in, go to the settings page and a user will be able to select a Sub Broker by using their mobile number.
How to become a Sub Broker?
- Register and complete your KYC on the Unocoin platform. In the left menu, you will be able to see a Sub Broker option. Click on Sub Broker. Then click on the ‘Want to become Sub Broker’ button. You will now be able to get all the necessary details.
What are the benefits of becoming a Sub Broker?
- A Sub Broker will get a certain percentage of the fee amount for which he/she placed on the completed order instead of the user.
Who needs a Sub Broker?
- Users who do not have much knowledge about trading can opt for a Sub Broker. Users who do not have the time to trade can opt for a Sub Broker.
How will a regular user get assigned a Sub Broker?
- After a regular user gets his/her account verified, in the left side of the menu the user can select the Sub Broker option. After clicking on that page, click on the add Sub Broker button. Upon clicking on the button, the user will get an option to enter the mobile number of the Sub Broker. You can select any Sub Broker if he/she has their mobile number linked to the platform.
What are the things a Sub Broker can and cannot do on a user's account?
- Sub Brokers cannot register users.
- Sub Brokers cannot submit KYC on behalf of the user.
- Sub Brokers can exercise actions on the verified users’ account who have opted him as Sub Broker.
- Sub Brokers can place Fiat Deposit and withdraw orders, they can place instant trade orders, exchange orders, exchange pending orders and add reference numbers for the fiat deposit orders. They can also edit already updated reference numbers.
Can anyone become a Sub Broker?
- Any Unocoin verified user can become a Sub Broker by sending an email to our support team - [email protected]
Can Sub Brokers add another user as Sub Broker?
- No, A sub-broker cannnot add a sub-broker for his/her account.
Is there a commission that needs to be paid for the Sub Broker?
- No. As of now, users need not to pay extra for Sub Brokers. A Sub Brokers commission will be paid to the Sub Broker from the fee we take.