> How to become a stock broker?

How to become a stock broker?

Posted at: 2014-12-05 
im 13 and I would like to be a stock broker what are the subjects I should be studying the most

In the US - You need to be an employee of a Broker/Dealer so they can sponsor you in order to become a licensed stock broker.



Firms usually want college graduates, but it is not really necessary nor really a requirement but many firms like it and make it their requirement. Bank broker/dealers usually want all the sales reps to be college graduates.

Your college major is not important, (No courses in the academic world prepares you to be a broker). But since your coming into the world of Finance, some of the more helpful majors would be Finance, Accounting, Economics or Statistics,

You should be good at math and have a decent idea about the stock market. You should be good at selling, and it would help if you have an outgoing personality. So if you‘re good at sales, or have a good sales background in place of a college degree, you’re part way there.

Try to get with any major brokerage firm they will put you through an in-house training program, which is primarily getting you ready to take the necessary test for licenses. You will need a Series 7 which is a General Securities Brokers test, and a Series 63 which is just for state approvals.

Most brokerage firms, except bank B/Ds, will put you on salary and once you have passed the test, they will slowly take you off salary and put you on commission basis pay out. Banks will usually keep you on salary but no commissions.

If you have your choice, you’re always better going to work for a regular B/D rather than a bank you will learn, faster, better and the proper way of how the industry works. As a broker for a B/D you can always find another B/D that will hire you or at the worse, you can always work for a bank. But if you’re Bank B/D trained and licensed, it’s very difficult to go work for a regular B/D unless you have years of experience or believe you can bring a “big book”

Good luck, go try it, you may like it

Definitely higher end math - the only things interesting in the field are sophisticated mathematical modeling for forecasting. I would add some computing ability in there, especially handling big data.

The days of an average broker making huge money doing generic work are done - many brokers ended up underemployed annoying salesmen when markets when to direct electronic trading. When you and I can manage portfolios easily through online discount brokerages, there's less of a need for intermediaries. You want to put yourself in a position where your knowledge and wisdom of the market can't easily be automated, or in charge of the automation.

You should study Math and Economics. You will need a college degree in Finance.

Then you can get the job and make a TON of money. Go for it.

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im 13 and I would like to be a stock broker what are the subjects I should be studying the most