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<\/p>\nA stock market is a trading place market where various groups such as entrepreneurs, investors, big and small companies engage in the stock exchange. On the stock market, buying and selling activities go on by individuals as well as organizations where they get to buy and sell stocks, shares, bonds, and other company securities. The stock market has made wealth for many individuals as it is an organized and regulated financial market. These ones engage in the stock market so as to increase and expand their profits. A stock market is an interesting place since there are no physical goods are exchanged. On the stock market, bonds, stocks, shares are bought and sold by the forces of demand and supply. The major players in the stock market are buyers, sellers, and stockbrokers. Buyers are the companies and individuals buy securities from sellers. Sellers are those who sell their securities to buyers in the stock market.<\/p>\n
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Stockbrokers are those who act as intermediaries between buyers and sellers in the stock market. A stockbroker could be a freelancer, hired to represent a company on the stock market. A stockbroker can also be employed by a stockbroking firm to work as a full-time stockbroker.<\/p>\n
The primary role of a stockbroker is to buy and sell stocks, shares, and other securities for people, companies, and organizations. Oftentimes, a stockbroker acts as an investment advisor who advises buyers and sellers on which security to buy and how to invest profitably in the stock exchange market.<\/p>\n
The Stockbroker profession is one of the most profitable in Nigeria. Below are steps to take to become a stockbroker in Nigeria:<\/p>\n
It is mandatory that a stockbroker has a minimum qualification of the first degree (B.Sc.), HND, or any other equivalent qualification from an accredited university or polytechnic in Nigeria. A potential stockbroker must have a degree or diploma in financial management-related courses such as Banking and finance, Economics, Accounting, Business administration and Insurance. In some companies or consultancy firms, the stockbroker is required to have a master\u2019s degree or any other advanced education to prove that they understand the intricacies of the financial stock market.<\/p>\n
The applicant must register as a student with the Chartered Institute of Stockbrokers. This application is made online by completing a student registration form. After completing the registration, the applicant is then required to pay a membership fee of #10,000 only.<\/p>\n
The Professional Diploma Program by the Chartered Institute of Stockbrokers is a basic foundation for any applicant aspiring to be a professional and certified stockbroker in Nigeria. It helps you to acquire the relevant knowledge needed to be successful in this field. It is required that the applicant has at least five O\u2019 level credits to be eligible to register for the professional diploma program. These five O\u2019 level credit passes must include English Language, Mathematics, and three other relevant subjects.<\/p>\n
The Chartered Institute of Stockbrokers organizes the Associate Membership Professional examination. This is a major examination of the institute, which then gives successful candidates the title of a \u201cStockbroker\u201d. The examination is written in two stages and twice a year (March and September). The prerequisite for this examination is a first degree in the university or its equivalent.<\/p>\n
CIIA stands for Certified International Investment Analyst. The next registration still with the CIS is the CIIA registration. This stands for Certified International Investment Analyst. This is a certification that grants you international and local recognition as a professional stockbroker. The application fee for the CIIA certification is #75,000.<\/p>\n
After paying the student membership fees, the applicant is now eligible to register and apply for the CIS professional program. This is a course designed for those interested in learning more about investment and securities. The CIS professional program is free as long as one has earlier registered as a student in CIS. The institute requires that one has a 5 credit minimum in the professional exams before one can be enrolled in the course.<\/p>\n
You can work as a stockbroker in various capacities, such as:<\/p>\n
Being a full-time stockbroker entails working in a reputable brokerage firm after you have passed all the required tests. In this regard, you get paid salaries, bonuses, and commissions after each sale from your portfolio. The full-time job keeps the Stockbroker on his or her toes as s(he) strives to create and manage to fulfill orders from those higher up in the command chain.<\/p>\n
A hired stockbroker works as a freelancer, individually or hired by a company to manage their investments and act as an intermediary when the need arises to trade in stock, bond, or shares. Freelance stockbrokers are usually those with a made reputation in the industry and can easily get clients for themselves. They are paid by commissions from each sale.<\/p>\n
A stockbroker who works for a bank is a bank investor. Bank Investors deal in securities as this is one of the major means of profits for a bank. So of course, they need a stockbroker to handle their trade in the stock market.<\/p>\n
Buying stocks, shares, and other securities on behalf of the client(s)<\/p>\n
Selling of stocks, shares, and other securities on behalf of the client(s)<\/p>\n
Research: Stockbrokers are expected to conduct extensive research on profitable investments and other valuable insights that will be profitable for their clients.<\/p>\n
Advisory: Stockbrokers are expected to advise their clients on what stocks to buy, retain, or trade<\/p>\n
Marketing: A stockbroker is expected to scout for prospective clients through referrals.<\/strong><\/p>\n Managing the clients\u2019 investments: A stockbroker manages his or her clients\u2019 investments such as stock exchange transactions and auditing of clients\u2019 portfolios.<\/p>\n <\/p>\n","protected":false},"excerpt":{"rendered":" A stock market is a trading place market where various groups such as entrepreneurs, investors, big and small companies engage … <\/p>\n