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  4. How to Become a Stockbroker


How to Become a Stockbroker



To many of us the first thing that comes to mind when we think of a stockbroker is the American film ‘The Wolf of Wall Street’! This article will give you the lowdown on everything you need to know about becoming a stockbroker and will ensure that unlike Jordan Belfort your career will not end in federal prison!

What Qualifications Do You Need to Be a Stockbroker?

Most stockbrokers hold an undergraduate degree at a 2:1 classification or higher in disciplines such as investment banking, accounting, finance or economics. It is also advisable to obtain a master’s degree to improve your employment opportunities. Upon completing your degree it is encouraged that you enrol in a graduate training programme with a financial firm.

Experience in a similar career path in a financial field such as an investment analyst is another way of gaining entry to become a stock broker.

Entry-level stockbrokers in America will be required to take The Series 7 exam which is a regulatory exam designed to assess the competence of financial professionals who are involved in the selling or trading of general securities. The exam on average lasts for 360 minutes and is assessed through the format of multiple choice questions.

As a Beginner, Where Should I Start in Stockbroking?

After completing a bachelor’s degree in a relevant discipline such as business or finance, it is important to pursue work experience at a financial firm. Many investment banks and brokerage firms advertise internships during the summer months that can sometimes lead to permanent employment. Internships are an excellent opportunity to receive intensive on-the-job training that will help you to stand out to future employers when applying for post-graduate employment. Most stockbroking positions are based in London or New York.

Skill Set Required for a Stockbroker

Though many people think being good with numbers is the main predictor of success for stockbrokers, that is not the case. You’ll need to be good with more than just numbers and have a variety of skills to make it in this industry, for example:


  • Excellent communication

  • Solid decision-making

  • Attention to detail

  • Numeracy

  • Teamwork

  • Knowledge of the stock exchange

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What Does a Stockbroker Do?

Stockbrokers are responsible for monitoring the stock market and financial markets and attempting to get the best financial returns by buying and selling stocks, shares and other financial products. It is a grueling job and requires long hours.

There are three main types of client base service that stockbrokers carry out:

  • Discretionary: client-based work where you are responsible for managing individual investments
  • Advisory: Providing clients with investment advice
  • Execution-only: Buying and selling stocks for clients without giving them advice
£0,000
Average Salary for a Stockbroker

Typical Duties for a Stockbroker


  • Regularly reviewing strategies to ensure maximum returns
  • Liaising with investment analysts to find out more about potential markets
  • Passing on instructions to traders about market prices
  • Initiating trades on behalf of their client
  • Recommending investments to clients
  • Putting needs of clients before his own when making decisions

Popular Career Pathways for Stockbrokers

As a stock broker you could work for an investment bank, financial investment and fund management firm or as a money adviser. Related career paths include working as a bank clerk or an internal auditor.

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