How to Become A Stock Broker South Africa

A stockbroker is an agent or firm that charges a fee or commission for executing buy and sell orders for an investor.

Below is to Become A Stock Broker in South Africa

To become a qualified stockbroker, you must obtain:

1 A Bachelor of Commerce (Honours) or BCom degree in Investments, Accounting or Economics.

2 A stockbroking license – you must first pass the Registered Persons Exam (RPE) which is offered by the South African Institute of Financial Markets (SAIFM). There are five levels of RPE exams and they have a minimum pass rate of 80%.

3 Relevant work experience in the financial markets industry through internships and/or online stock exchange trading courses.

Below are stockbroking group into gloomy and glamorous career

The Glam

One of the major benefits of being a stockbroker is the potential to make very decent money through a good base salary, commissions and bonuses. However, contrary to popular belief, not all stockbrokers are millionaires.

The Gloom

Being a stockbroker also means high levels of stress and long hours which may destroy any possibility of have a work-life balance. High performance is a work culture that is embedded and embraced in stockbroking industries.

How long does it take to become a broker in South Africa?

The South African Institute of Stockbrokers is in the process of registering a formal, three-year university qualification for the financial markets, and is currently working with the University of Johannesburg and government to put the course together.

What qualifications do you need to be a stock broker?

There are no set qualifications if you want to become a Stockbroker, although most employers will expect you to have a degree (normally class 2:1 or above). Your degree could be in any subject, but economics, business, finance or accountancy may give you the edge.

What do I need to study to become a broker?

Aspiring stockbrokers need at least a bachelor’s degree and must pass a series of exams administered by the Financial Industry Regulatory Authority (FINRA). However, professionals with additional education, like a master’s degree, may enjoy more success with selling stocks, as clients trust them more.

Is stockbroker a dying career?

Yes, the stockbroker career is experiencing a slow but sure death. For the most substantial part, this can be attributed to the advent of technology. The role of stockbrokers is to act as middlemen between investors and firms. They facilitate the buying and selling of stocks for investors for a commission.

Is stockbroker a good career?

If you enjoy sales, are a self-starter and have an interest in the world of finance, a career as a stockbroker may be a great fit for you. With a high earning potential and fulfillment from developing your own base of clients, a stockbroker can be a good career for a hardworking and ambitious individual.

Are stock brokers in demand?

Stock broking is a growing profession. The demand relates to growth in the economy. As the economy continues to grow there will be more demand for stockbrokers. You can have a very financially rewarding career as a stock broker.