what qualifications are reqd to be a share broker.?

Answer 1

The basic qualification of a broker is honesty.A broker should be an educated person who understands what stock market is all about and how the economy takes turn for good and bad. Moreover, a broker should have a sense of perspective. He must serve his clients promptly and be nice to talk to.His personality should be amiable. He should be mild mannered and not a domineering type.Of course he should be registered with SEBI and have a valid licence.

Answer 2

Share brokers operate in stock exchanges. They have to get membership of the stock exchange. Brokers do transactions on account of / for their customers. The stock exchanges and their operations are regulated by SEBI.
So one has to comply to rules of membership of a particular stock exchange and also rules of SEBI.
There are no specific qualifications like MBA or CA etc. But most important is you need to have a net worth. Net worth is your personal property. Net worth condition can be in Crores of Rupees for Bombay Stock Exchange.
So it is really difficult to be a broker. But you can be a sub-broker of a broker.
You can refer to websites of BSE, NSE and SEBI for further detailed and accurate information.

Answer 3

the best trading software http://tradingsolution.info
i have attended a lot of seminars, read counless books on forex trading and it all cost me thousands of dollars. the worst thing was i blew up my first account. after that i opened another account and the same thing happened again. i started to wonder why i couldn,t make any money in forex trading. at first i thought i knew everything about trading. finally i found that the main problem i have was i did not have the right mental in trading. as we know that psychology has great impact on our trading result. apart from psychology issue, there is another problem that we have to address. they are money management, market analysis, and entry/exit rules. to me money management is important in trading. i opened another account and start to trade profitably after i learnt from my past mistake. i don't trade emotionally anymore.
if you are serious about trading you need to address your weakness and try to fix it. no forex guru can make you Professional trader unless you want to learn from your mistake.

Answer 4

well the qualifications required are 21 years of age, a graduate and sound knowledge of share market

Answer 5

Check up this page:

http://www.sebi.gov.in/Index.jsp?contentDisp=Section&sec_id=1

It will give you a complete picture of regulations.

Answer 6

Usually, you need a licence.

Answer 7

Because securities and commodities sales agents must be knowledgeable about economic conditions and trends, a college education is important, especially in larger securities firms. In fact, the overwhelming majority of workers in this occupation are college graduates. Although employers seldom require specialized academic training, courses in business administration, economics, and finance are helpful.

Many employers consider personal qualities and skills more important than academic training. Employers seek applicants who have considerable sales ability, good interpersonal and communication skills, and a strong desire to succeed. Some employers also make sure that applicants have a good credit history and a clean record. Self-confidence and an ability to handle frequent rejections are important ingredients for success.

Because maturity and the ability to work independently are important, many employers prefer to hire those who have achieved success in other jobs. Some firms prefer candidates with sales experience, particularly those who have worked on commission in areas such as real estate or insurance. Therefore, most entrants to this occupation transfer from other jobs. Some begin working as securities and commodities sales agents following retirement from other fields.

Securities and commodities sales agents must meet State licensing requirements, which usually include passing an examination and, in some cases, furnishing a personal bond. In addition, sales agents must register as representatives of their firm with the National Association of Securities Dealers, Inc. (NASD). Before beginners can qualify as registered representatives, they must pass the General Securities Registered Representative Examination (Series 7 exam), administered by the NASD, and be an employee of a registered firm for at least 4 months.

Most States require a second examination: the Uniform Securities Agents State Law Examination. This test measures the prospective representative’s knowledge of the securities business in general, of customer protection requirements, and of recordkeeping procedures. Many take correspondence courses in preparation for the securities examinations. Within 2 years, brokers are encouraged to take additional licensing exams in order to sell mutual funds, insurance, and commodities.

Most employers provide on-the-job training to help securities and commodities sales agents meet the registration requirements for certification. In most firms, the training period takes about 4 months.

Trainees in large firms may receive classroom instruction in securities analysis, effective speaking, and the finer points of selling, may take courses offered by business schools and associations, and may undergo a period of on-the-job training lasting up to 2 years. Many firms like to rotate their trainees among various departments, to give them a broad perspective of the securities business. In small firms, sales agents often receive training in outside institutions and on the job.

Securities and commodities sales agents must understand the basic characteristics of the wide variety of financial products offered by brokerage firms. Brokers periodically take training through their firms or outside institutions in order to keep abreast of new financial products and improve their sales techniques. Computer training also is important, because the securities sales business is highly automated. Since 1995, it has become mandatory for all registered securities and commodities sales agents to attend periodic continuing education classes to maintain their licenses. Courses consist of computer-based training in regulatory matters and company training on new products and services.

The principal form of advancement for securities and commodities sales agents is an increase in the number and size of the accounts they handle. Although beginners usually service the accounts of individual investors, they may eventually handle very large institutional accounts, such as those of banks and pension funds. After taking a series of tests, some brokers become portfolio managers and have greater authority to make investment decisions regarding an account. Some experienced sales agents become branch office managers and supervise other sales agents while continuing to provide services for their own customers. A few agents advance to top management positions or become partners in their firms.

Banks and other credit institutions prefer to hire college graduates for financial services sales jobs. A business administration degree with a specialization in finance or a liberal arts degree that includes courses in accounting, economics, and marketing serves as excellent preparation for this job. Often, financial services sales agents learn their jobs through on-the-job training under the supervision of bank officers. However, those who wish to sell mutual funds and insurance products may need to undergo formal training and pass some of the same exams required of securities sales agents.

Other Qualifications
Advancement
Job Outlook
Employment of securities, commodities, and financial services sales agents is expected to grow about as fast as the average for all occupations through 2012. As people’s incomes continue to climb, they will increasingly seek the advice and services of securities, commodities, and financial services sales agents to realize their financial goals. Growth in the volume of trade in stocks over the Internet will reduce the need for brokers for many transactions. Nevertheless, the overall increase in investment is expected to spur employment growth among these workers, with a majority of transactions still requiring the advice and services of securities, commodities, and financial services sales agents.

Baby boomers in their peak savings years will fuel much of this increase in investment. Saving for retirement has been made much easier by the government, which continues to offer a number of tax-favorable pension plans, such as the 401(k) and the Roth IRA. The participation of more women in the workforce also means higher household incomes and more women qualifying for pensions. Many of these pensions are self-directed, meaning that the recipient has the responsibility for investing the money. With such large amounts of money to invest, sales agents, in their role as financial advisors, will be in great demand.

Other factors that will affect the demand for brokers are the increasing number and complexity of investment products, as well as the effects of globalization. As the public and businesses become more sophisticated about investing, they are venturing into the options and futures markets. Brokers are needed to buy or sell these products, which are not traded online. Also, markets for investment are expanding with the increase in global trading of stocks and bonds. Furthermore, the New York Stock Exchange has extended its trading hours to accommodate trading in foreign stocks and compete with foreign exchanges.

Employment of brokers is adversely affected by downturns in the stock market or the economy. Turnover is high for beginning brokers, who often are unable to establish a sizable clientele even in good times. Once established, securities and commodities sales agents have a very strong attachment to their occupation because of their high earnings and the considerable investment in training. Competition usually is intense, especially in larger companies with more applicants than jobs. Opportunities for beginning brokers should be better in smaller firms.

The number of financial services sales agents in banks will increase faster than average as banks expand their product offerings in order to compete directly with other investment firms.