More on Stock Broker Salary, Commission, Courses
Stock broker are those individuals who buy and sell stocks and other securities for clients; both the individual investor possessing shares of a given security and organizations which pool large sums of money and invest those sums in securities. They belong to any brokerage firm or broker dealer. They perform through the stock exchange or trade directly between the two parties without any supervision of exchange in return for a fees or commission.
On the types of license they hold, the type of services they provide and the type of securities they sell, they are named by numerous professional titles. Technically it is possible to be a stock broker without higher level educational courses, but it is a rare case. For all the practical uses a broker must have at least bachelor degrees in order to get jobs easily whereas candidates having masters in a related field are in higher demand and the stock broker salary is relatively higher. Stock broker are also the investment advisor or financial advisor who provides advice to the clients.
To develop the career as a stock broker, it is necessary to pass the license exam taken by the corresponding country state. In United States one has to pass the series 7, series 63 or series 66 exams in order to be properly licensed. In Canada it is necessary to have completed the Canadian Securities Course (CSC), Conduct and practices Handbook (CPH) and 3 months Investment advisor training program (IATP). Similarly in United Kingdom, stock broker must have a recognized qualification from the Financial Conduct Authority (FCA). London Stock Exchange, UK, holds more than 37,000 exams per year.
Basically, to be a stock broker in Australia, you will require being a student of math, economics and business in high school with better score and need to complete diploma of financial markets.