Life of a stockbroker Essays - Finance, Money, Stock Market, Economy

Life of a stockbroker Stock broker , also known as an investme nt , financial or wealth adviser is someone who is licensed to buy and/ or sell sec urities for somebody else. A stockbroker main role is to help facilitate transactions between sellers and buyers of stocks and also advise his client s about the best investment possible . ( Investopedia ). Although being a stockbroker can be very simple because there are no formal education requirements, you are required to pass a set of exams to become a licensed stockbroker. Also, each stockbroker is required by the FINRA ( Financial Industry Regulatory Authority) to pass a set of exams to become a licensed stockbroker, registered to a specific state in which they are allowed to sell and buy stocks . Usually, s tocks company favor people who have a bachelor degree or master degree in finance or any other business-related majors , that's why most stockbro ker pursue business related majors and sometimes masters degree . The stockbroker profession is a career choice that comes w ith a lot of advantages such the potentiality of a good pay , the Job security, diverse career opportunities . O ne of the biggest stock company is the NYSE( New York Stock excha nge) which was founded in 1817, is the largest Stock company in world with a trading capital exceeding 14 trillion, trading more around US$170 billion daily. (Investopedia). Considering the amount of capital traded daily in the Stock market, a stockbroker earnings potential are unlimited. His potential to earn a higher pay is unlimited. The majority of stocker are paid through commission , this makes the salary of a stocker broker difficult to determine because every tockbroker has a personal salary based on the way he performs. Considered one of the easiest job to get started with, being a stockbroker offers a considerable amount of job security because the stock market companies are constantly in need of stockbroker (Investors.com). Being a stockbroker was considered a profession only reserved to the wealthiest due to their access to large financial capitals, however, w ith the growth of the Internet, people have easy access the stock market through online platform and any other market such as the FOREX( foreign exchange ma rket) from their home computer. P eople can now start trading stocks from home. In order to become a licensed stockbroker, you need to pass a few exams. Among those we have : " The series 7 " which is an exam everyone has to pass with a score of seventy(70) or higher to get licensed by the FINRA( Financial Industry Regulatory Authority), although the series 7 allow you to start trading stocks and work for a regulated stocks company, most stockbroker prefer to take one more exam which is called the "series 63 to put them ahead of the competition and have better chances to work for a stockbroking company and excel as a licensed stockbroker. Nowadays being a stockbroker can be profitable in every region of the country since most of the transactions are done online, the region in which you reside has little or no effect on how profitable you can be as a stockbroker. Although many people believe tha t living in a big economic city gives the stock broker more opportunity to be in contact with potential investors, the location in which you live has little to no influence on your revenue as a stockbroker, what matters the most is your performance as a stockbroker. The opportunity to be a great stockbroker can be found everywhere, however having good skills is more important than the region in which you work. As a stockbroker, you job mainly consist of making money for your clients and earning the commission, this profession requires a sets of skills such as , strong analytics skills, interpersonal skills, marketing skills and in-depth knowledge of the financial markets. (stock Investing) Analytics skills and decision making skills are very important for a trader because, as a trader you will have to do analysis of a number of stocks daily and decide which one you want to invest in and what is the risk reward ratio. (Stock