A Guest Post today –
The financial business today offers numerous opportunities to people who are willing to work with devotion. If dealing with financial affairs fascinates you and managing other people’s money is a matter of your interest, then stock broking is a flourishing career for you.
The business of buying and selling shares, bonds for other people and organizations is termed as stockbroking. Stock broking involves professional individual termed as broker who executes, buy and sell orders for stocks and other securities through a stock market, or over the counter, for a fee or commission.
Selecting a broker is going to be the main decision when you decide to invest, as they are going to be taking a lump of your hard earned money every time you place a trade. So knowing the different services that stockbroking firm’s offer is equally important as placing the investments with them.
We can appreciate Hollywood movies like Wall Street for displaying the job of a stockbroker very glamorous. But the reality is that stockbroking is a very intense and sensitive business operation.
Stockbroking is a challenging field that needs to have the essential ability to sell, communicate effectively and to persuade others the concepts that are at times hard to grasp. New stock brokers have to be ready to work for long hours to find customers and to establish themselves.
The modern stockbroker has several major arenas in which to build a business, but those without prior training or censure might be wise to start at a full-service firm that will provide this at no cost.
Stockbroking is a regulated profession in the UK and brokers must achieve a recognized qualification from the Financial Conduct Authority (FCA)’s Appropriate Qualifications list. Whereas In the United States, a stockbroker must pass both the Series 7 and either the Series 63 or the Series 66 exams in order to be properly licensed.
Stockbroking on one hand offers potentially good pay, job security and career advancement opportunities but it can also cause high stress, dealing with annoyed people and risk of market affecting your finances.
Stock broking offer retail and institutional investors the opportunity to trade shares. Trading platforms can be envisioned as the electronic “facilitator†to future success Stockbrokers trade shares both on exchange and over-the-counter, dependent on where they can find the best price and liquidity.
In view of the fact that there’s a lot to consider when you’re selecting the right trading market these days. The big five stock brokerage firms in the US namely, Scottrade, Charles Schwab, Fidelity Investments, E-Trade and TD Ameritrade, comprise the top five in terms of customers and assets.
Online financial institutions specialized in stockbroking services provide extensive and insightful market observations. One such exceptional example is the CMC markets, the global CFD (contracts for difference), Forex trading and stockbroking providers.
Changes in business practices have resulted from the widespread adoption and diffusion of information and communication technology. As a result, Stockbroking firms have now openly adopted information and communication technology to improve their competitiveness and responsiveness in market conditions.
Investing in the stock markets can be very complex job and often requires the help of a professional. Besides the level of service that brokerage firm’s offer, the type of investing style that you as an investor follow will also affect your unique financial situation.
The bottom line to becoming a stockbroker is that, it’s not an easy job. If you are motivated enough to posses the necessary aptitude, adapt to fast changing situations, setting the right expectations and priorities then stockbroking can certainly be a handsomely rewarding job in the end.