Professions related to stock market are somewhat risky. A broking business is one such example which needs a lot of experience and a good sense of where to invest and where to not. A broker is known best when he knows how to move business even in the worst situations, has the capability of marketing and is likely to win the assurance of the customers.Here are the easy steps of being a stock broker.
5 Easy Steps To Become A Broker
Study About Stock Brokering
If you are sure that you will opt a stock broker business, you have to study about stock marketing, financial hurdles and brokering. You take a course on stock brokering; this will help you to understand better about the business and will give you the certification of broker as well.
The Bombay Stock Exchange (BSE) and National Stock Exchange (NSE) offer many certified courses in brokering. These courses are basically about investments, strategy of financial planning, market capitalization, analysis of portfolio, research on equity etc. As the topics suggests, these will give you a good mind setup for your business.
If you want to be a successful broker, you should have an experience before you start your career. It is compulsory in India that a person must have 2 years of experience about stock brokering firm. Other than the rule, the experience will give you an exact idea about how to work as a broker and maintain the brokering business.
Select A Field In The Brokering Business
The stock brokering business is a wide area to work with. So before you start with your brokering business, you should be sure that in which field you want you do the business. For example, there is a type of broker who offers deals in stock marketing products like shares, debentures, bonds, insurances etc., other types may include the one offering services in strategies on investment, advices in investments etc.
Get A License
After you are done with the steps above, you have to get a license and get yourself registered which is conducted by SEBI or Securities Exchange Board of India. The license will give you, official support and will help you to gain trust of many customers.
Register yourself as a stock broker under SEBI. The SEBI is governed by the government of India. Under the SEBI Act of 1992, you should be registered as a stock broker in the SEBI, and then only you will be known as a stock Broker.
Become A Member Of Any Of The Stock Exchanges
To be a broker, you need to be a member of the stock exchange. Most of the stock exchanges demand security deposit and membership fee for becoming a member. Examples of stock exchange are National stock exchange and Bombay stock exchange.
A stock brokering business is a good field nowadays, as the commercial view in individuals is rising day by day. The salient features one should have are enjoying the work, controlling the business when needed and a pre planning capacity of investing money at the right time.