Are you looking for a job with a good salary? If yes, then we suggest that the stock market is the best choice for you, because it deals with buying and selling shares on behalf of the shareholders. This is quite an interesting job compared to other fields. To become a stock broker after the 12th one has to register for the entrance exam related to the stock exchange program. Get the complete guide on how to become a stock broker in India such as eligibility criteria, career opportunities, stock brokering course details, pay scale, and so on.
- Who is a Stock Broker?
- Eligibility Criteria to Become a Stock Broker in India
- Stock Broking Courses in India
- Stock Brokerage Course Training Institutions
- Step by Step Procedure to Become a Stock Broker
- Types of Stock Broker
- What are the Skills Required to Become a Stock Broker in India?
- Career Opportunities
- Pay Package of a Stock Broker in India
- Does Stockbroker require traveling?
- How to become a stockbroker in India?
- How much does it cost to become a stockbroker in India?
Who is a Stock Broker?
A stockbroker is a financial professional who accomplishes orders in the market in support of the clients or shareholders. A stockbroker is an investment advisor. He/she is responsible to manage and look after the client’s investments and acts as a mediator between the clients and the stock exchange. The responsibility of a stockbroker is to analyze the stock market and make financial predictions.
Eligibility Criteria to Become a Stock Broker in India
Candidates who want to enter the field stock market must have to satisfy the eligibility criteria mentioned by the organization. Thus the aspirants who want to become a stockbroker should have to complete a bachelor’s degree in Economics or Commerce background after 10+2 with minimum marks from any recognized institution or university. It would be easy to get selected for the post of a stockbroker with a good salary if you have completed a postgraduate degree in Business Administration in Finance Field. The minimum age to apply for the stockbroker post is 21 years.
Stock Broking Courses in India
The courses that help you to become a stockbroker in India are as follows,
- Post Graduate Diploma in Capital Market and Financial Services
- Post Graduate Diploma in Fundamentals of Capital Market Development
- Chartered Financial Analyst Equity Research
- NSE’s Certification in Financial Markets
- NSE’s Certified Market Professional
- Certificate Programme on Capital Markets
- How to Become a CA Chartered Accountant in India
- How to become a Certified Management Accountant CMA in India
- How to become a Chartered Engineer in India
Stock Brokerage Course Training Institutions
The top institutions that offer stock broking courses are given below. So, apply for the college based on your rank scored in the entrance exam. The approximate fees to complete the stock broking course are Rs. 5,00,000 to Rs. 7,00,000.
- Institute of Financial and Investment Planning
- All India Centre For Capital Market Studies
- Institute of Chartered Financial Analysts of India
- Institute of Capital Market Development
- Mumbai Stock Exchange Training Institute
- Institute of Company Secretaries of India
- The UTI Institute of Capital Market
- The Orion Institute of Capital Market
Step by Step Procedure to Become a Stock Broker
The marketing field is a booming industry in India. There are a lot of job opportunities for the students who choose marketing jobs. A stockbroker job is on the job related to the stock market where you can earn a high amount. Here we are providing the step by step process to become a Stockbroker in India. Therefore the students who are really passionate to become a stockbroker can go through the below steps and follow them.
- Step 1: Candidate must have passed 10+2 examination with above 65% marks from any board of education.
- Step 2: The aspirant must have completed any course from commerce, economics background with minimum qualifying marks from any Indian Institutions.
- Step 3: It is very important that you need to be a member of a stock exchange.
- Step 4: You need to have good communication skills and knowledge of the stock market.
Types of Stock Broker
Stockbrokers are classified into three types they are Discount broker, Online broker, and Full-service stock broker.
- Discount Broker: It is a profession where the stockbrokers take orders from the clients.
- Online Broker: He/she must have complete knowledge of the stock market that includes investment news, selection of stocks, etc. He is responsible to give updates to their clients on their research or analysis of services.
- Full-Service Broker: A full-service broker is the one who gives personal service to the clients. They give all the necessary information related to the research and knowledge of stocks to their clients.
What are the Skills Required to Become a Stock Broker in India?
The candidates will also be selected based on the additional skills. The requirements for the stockbroker includes,
- Analytical skills
- Financial knowledge
- Communication skills
- Basic knowledge of Computer
- Listening Skills
Some of the job areas of the stockbroker are Investment banks, Accountants, Financial Managers, Financial institutions, Brokerage firms, Investment consultancies, Securities Broker, Capital Market Specialists, Investment Advisor, Security Traders, Securities Analyst, Financial Advisor, Security Sales Representative, Mutual Funds and Pension funds, Insurance Firms, Independent Agent, Large Business Organisations.
Pay Package of a Stock Broker in India
The pay for stock broker is not stable. They get money in terms of commission from the clients for their brokerage. You get a commission for buying and selling the stocks on behalf of clients. We can say that a stock broker gets a good amount from the clients for the work they do. The estimated average salary of a stockbroker is Rs. 5,00,000 to Rs. 8,00,000.
FAQs on How to Become a Stock Broker in India
Does Stockbroker require traveling?
Yes, stockbrokers are required to travel from one place to another place to meet the clients.
How to become a stockbroker in India?
There are four steps to becoming a stockbroker.
1. Completion of 12th class
2. Qualifying Entrance Exams
3. Qualifying Bachelors Degree
4. Post Graduation
How much does it cost to become a stockbroker in India?
To become a BSE member, a broker has to pay a fee of Rs 10 lakh and around Rs 21 lakh.
We have presented all the important information on how to become a stockbroker in India. Also given the step by step procedure to become a Stock Broker like educational qualifications, courses, skills, salary, etc. Hope all the above information is helpful for you in becoming a stock broker. For more details please contact us by posting the comments in the below comment box.