How to become stock broker in India | How to become a stock broker without a degree
Friends, we keep you informed about business through our posts every time. And today we are going to discuss that with you. Today we will inform you How to become a stock broker.
Friends, you may have heard the name stock market. Stock exchange, nifty, stock broker, all these terms are part of the stock market. People invest in the price of stock market to get a good return by investing in a short period of time, and this is called stock market in common parlance. If you want to get a stock broker then this post is for you, today we will tell you how you can become a stock broker. We have brought to you today a full case study about stock brokers, so we request you to read our full post. Let’s get started and find out how to be a stock broker, let’s first know what a stock broker is called.
What is a stock broker?
The stock market is incomplete without a stock broker, the stock broker acts as a mediator between the stock exchange and the investment, without a stock broker no investor can buy shares of any company which means no investor can invest in the direct stock market.
If you want to invest in the stock market, you need to open a demat account and a trading account. And these two types of accounts you can open with the help of stock brokers, any investor selling and buying orders to reach the stock exchange is the type of stock. There are generally two types of stock brokers operating in the stock market, one is a full service stock broker and the other is a discount stock broker. Let us know what these brokers do and what they do.
Full service stock broker
Full service stock brokers have higher fees, which is because full service stock brokers offer a wide range of services to their clients, such as-
- Margin money facility to buy
- Stock advisor
- The benefits of investing in an IPO.
- Mobile phone trading facility
- Customer support
All these stock brokers have branches in different places, and they have good customer support.
Discount stock broker
Discount stock brokers offer their clients the opportunity to buy and trade shares with very low stock broker charges. Discount stock brokers do not give their clients as many facilities as full service stop brokers, which is why the discount charges of discount stock brokers are very low. Discount brokers have offices in some selected areas, while most brokers do most of their work online.
Stock broker qualifications
You can take any course in the financial market to get a stock broker. Along with this knowledge of accountancy, economics, commerce, business administrator will help you. You can go to these subjects or take a post graduate degree.
The NCFM Course of NSE (National Stock Exchange) is an online certification program, which checks the level of practical knowledge or skills required by stock market professionals for the financial market. Doing this requires good knowledge of Math’s and English to get admission. The National Institute of Financial Management or the National Stock Exchange of India provides post-graduate executive programs and opportunities for financial marketing. I want a graduation degree with 50% marks for this program. BSE institute has limited online certificate program.
What qualifications do you need to have to become a stock broker?
Stock broking is a financial risk field, so to work here you need to have academic qualifications as well as good analytics skills, research skills, and you have to have good stock trading practices. You need to know about different companies and different industries. Which will help you move forward in this field. You need to keep up to date with the latest developments in the market, such as what is currently being trained in the market, what new techniques have been introduced in the market, and so on.
If you want to be an expert in this field then good computer skills as well as decision making, teamwork, or finance industry information will help you a lot to be successful. There are long working hours in this field, and you need to have patience for this, although patience is required for all business.
Where you can work
According to your education, expert and experience you can work in equity dealer, equity trader, equity advisor, stock advisor, wealth manager, investment advisor, financial analyst, security analyst, risk manager, etc. Opportunity to work in this field You will have the opportunity to work in stock exchanges, financial companies, banks, regulation authority, foreign investment firms, investment consultancy, mutual fund companies, etc.
To become a stock broker you can start your work as a sub broker.
What is the function of sub broker?
Sub broker is not a stock exchange rate trading member. But the sub broker helps the main stock brokers to serve the customers. If you want to be a sub broker, you need to have a PAN card, Aadhar card, or education certificate, as well as your office and your home address certificate and CA reference letter. And it is necessary that you use your intellect to choose the form of brokerage. You should never sell something that no one is willing to buy. Therefore, gather good information about the brokerage form.
You need to know what the investor likes. Your broker needs to have good brand equity or recall value. Through which you will easily get new customers. In general, the investor gives priority to all these forms which have value added services and other necessary benefits. There are certain conditions for becoming a sub broker.
Conditions for becoming a sub broker
There are certain conditions that you have to fulfill to become a sub broker. As a sub broker or master franchises owner you will need a minimum of 200 square feet of office space, this office space usually depends on the brokerage form. You have to deposit 1 to 2 lakh rupees as refundable fees for all sub brokers. Also check your broker’s commission structure.
Request a call back from the brokerage form you initially chose to become a sub broker, then you will receive a call and information about you, along with some basic questions. And at the end of it all you have to pay the registration fee. After making the payment, you and your employees will be given training on trading platform, customer support, marketing mechanism. Then you can start your work.
When you start working as your sub broker, your income will definitely start. Then to become a sub broker you need to register with SEBI, to register you need to provide PAN card with personal details and information about the field in which you will work in the stock market. Trading can be started after getting the certificate of registration.
Maintaining the business of stock broking is not an easy task, so you need to be vigilant at all times so as not to sink the customer’s money. Making the right decisions at the right time will grow your business and advance your career.
Salary of a stock broker
The salary of a stock broker depends entirely on his knowledge and performance. The salary of a stock broker can range from Rs 2 lakh to around Rs 7 lakh per annum. Also if you make a personal investment then in this case you can earn a hefty amount of money in your personal way. The stock market is a sector that requires more fat than theory. For this your experience will lead you to success. And if you communicate and interact with a person from the beginning according to your interest, then your knowledge will increase.
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