Stock Broker is the financial market professional who advises people engaged in investing in the stock market, but either has no sufficient expertise or does not always have sufficient time to keep hold of the stocks. The younger generation has become increasingly active in the Share Trading industry, by transferring their interest from government jobs to self-employment or entrepreneurship and by spreading awareness of the media’s share markets among the people. In India, there are some colleges that are known for stock broking that can make your future.
Some of the people involved have begun trading and a few smarter ones plan on being a stockbroker in India. Such professionals invest money in various stocks, on behalf of their customers, maybe at the demand of their customers or by self-caution. All of this depends on trust, the customers reveal their preferred brokers. Thus, investing their customers ‘ money in such a way that it is less risky for the share brokers is all the more essential.
The industry includes three types of stock brokers: discount brokers, bank brokers, and full-service brokers. Stock Brokers also make provision for full long-term gains for their stock trading business.
This career gains ground at a very rapid pace with knowledge of the financial markets and increased public interest in stocks and shares. While this is not among the most glamorous occupations, it can not nowadays be overlooked. As with all so-called respected professionals, it also provides many opportunities for the younger generation to demonstrate their talent and gain recognition as well as money.
Skills to Become Stock Broker
There is little mastery needed to be a successful stockbroker in India. These include:
- Shareholders should have a detailed understanding of each part of the stock market and the possibility of predicting to some degree the market path.
- You need extensive know-how in many areas of trade to carry out their duties efficiently and effectively.
- You must be genuinely committed and hard-working to become a share broker.
- You must be able to work with dedication and sincerity because the job needs a lot of hard work, patience, foresight, and adaptability.
- You need good mathematical skills, analytical skills, communication, and a responsible attitude.
Job Role of Stock Broker
The financial condition of your customer must be handled as a stockbroker in Inida. You may then function either individually or in a business. You will be contacted by investment analysts then speak with your customer about the financial shares to purchase or sell to make the best profit as a return on the investment of the customer.
Eligibility to Become Stock Broker
Eligibility is to pass class 12 or equivalent of recognized studies in the Senior Secondary Examination. The marks secured during Senior Secondary Exams or subjects learned are not subject to any limitations. A bachelor’s degree is needed for those who want to be a stock broker for some time after practicing as an assistant broker.
Career Opportunities as Stock Broker
There are almost twenty-one stock exchanges across India with more than seven thousand listing companies and nearly sixty-five hundred brokers and more than half a million investment bankers registered with the Security and Exchange Board of India (SEBI). If we go through these figures, we can conclude that those who are competent and willing to manage and have the requisite personality traits to cope with this enterprise can be effectively prospective for a stockbroking enterprise.
Ways to Become Stock Broker
A solid foundation in trade, economics, business management, or finance needs to be developed. Also, one may take post-graduate courses in economics or business from various universities in the country to qualify for the stockbroking career. Finance managers can be MBAs from renowned management institutes or business departments of the leading universities with a specialty in finance.
- An applicant must complete courses in stockbroking and investment and capital markets, investment planning, and various related courses provided by a few educational institutions in India. You can opt for a Bachelor’s degree in finance or a Bachelor of Commerce.
- You must enter a stock broking company after you have completed these courses and have at least two years’ experience with them.
- After having sufficient expertise while working with a stock broking company, you can start your own business on your own or register a stock broking company with the approval of the appropriate authorities.
Pay Scale of Stock Broker
Concerning monetary returns to a stock trader, the monetary returns of the appropriate person in this field can not be acknowledged. But those employed by Stock Broking should expect Rs. 30,000 to earn the initial salary.
Leading Colleges for Stock Broking
The following colleges are known for stock broking:
- Mumbai Stock Exchange Training Institute, Mumbai
- All India Centre for Capital Market Studies, Nasik
- Institute of Company Secretaries of India, New Delhi
- Institute of Chartered Financial Analysts of India, Hyderabad
- Institute of Financial and Investment Planning, Mumbai
- Institute of Capital Market Development, New Delhi
A stock broker is a specialist who handles stock investments, services, shares, currency transactions, etc. for customers who can be individuals or big businesses. It is the secret to buying and selling stocks between the stock exchange and the consumer. The services offered to consumers under a reward payment scheme indicate benefit for the consumer. The new generation is more and more interested in Share Trading, shifting its attention from government jobs to self-employment or business and sensitizing the media’s share markets amongst the people.