A career as a professional stock broker or trader can be exciting, stressful and financially rewarding. To become a stock broker, students need years of education and training, and a strong commitment to the financial success of clients, co-workers and the firm. Anyone seriously considering becoming a stock broker or trader needs to seriously think about the following questions, including: Do I need to complete a formal education to land a job? Is formal licensure or certification required? What skills do I need to develop for success? Do I want to work on the accounts of big businesses or trade for small investors?
Step by step guide to becoming a stock broker
What does a stock broker do?
Stock brokers are those who connect the buyers and the sellers in financial markets all over the world. They understand money, investments and other financial situations, and strive to conduct trades quickly, efficiently and with the best possible outcome for the client. For example, they may negotiate deals, sell or trade commodities, stocks and other financial instruments for those clients, and advise clients on both short-term and long-term investments.
What kind of skills are required?
Anyone interested in becoming a stock broker should possess certain skills, traits and interests. They should be great with numbers and have close attention to detail. Being a very strong customer advocate is necessary, and that means that you must also have great people skills, including the ability to communicate detailed information in a very clear-cut way. The world of finance can be tough, so you should have a thick skin and the ability to take the initiative in any situation.
The steps to becoming a stock broker
- Earn a Degree in Business or Finance
- Get experience and sponsorship
- Pass the series 7 and series 63
- Network, apply, and get hired
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