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How to become a Stock Broker

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Career progression and salary expectations for a Stock Broker

Stock Broker

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The role of a Stock Broker

What does a Stock Broker do?

Have you got a good head for figures? Do you dream of working in the world of finance a la Gordon Gekko (but without the villainy)? Then you could become a Stockbroker.

Have you got a good head for figures? Do you dream of working in the world of finance a la Gordon Gekko (but without the villainy)? Then you could become a Stockbroker.

Your job would be to buy and sell financial products like stocks and shares in order to get the best rewards for clients, whether they're individual people or huge corporations.

There are three different types of Stockbroker: discretionary (managing investments and making decisions for clients); advisory (providing tips); and execution only (not providing advice but carrying out clients' requests to buy and sell).As a Stockbroker, your typical responsibilities are likely to include:

Keeping up to date with financial markets
Researching potential strategies for clients
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

Is a career as a Stock Broker right for me?

To be a good Stockbroker, you'd better not be a wallflower. You need to be confident and great at dealing with all kinds of people from companies of varying sizes.

However, that's not to say you need to be arrogant - unlike their portrayal in the media, Stockbrokers must be honest and trustworthy, working with clients' best interests at heart.

Other key skills include:

Calmness under even extreme pressure
An ability to understand sometimes complex financial data and explain it to clients
Being able to make snap decisions
Being able to make snap decisions
Determination to succeed
Being able to spot which risks are worth taking

What's it like to be a Stock Broker?

"Some people didn't understand why I wanted to become a Stockbroker, but I find it really exciting - every day presents fresh challenges. It's not just buying and selling either; I have to complete lots of reading and find the research aspect fascinating. It's also hard to beat the buzz you get from making a client a lot of money. OK, so it can be stressful and demanding. But as long as you love it, you should enjoy it for years to come. And it must be said that the money's not bad either."

Get qualified as a Stock Broker

Most employers will prefer you to have a degree, however, an industry-specific qualification such as Forex Trading or the How to Trade Stock Options Course could also help you to get started. Experience in a similar financial capacity could also work as an entry-level requirement.

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