May 31st, 2012
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Become a Stockbroker
Working as a stockbroker in South Africa can be a very exciting job. These professionals work as a middleman in the exchange of investments. Companies that require investing offer a share of the company, called stock in the company, in return for working capital. The job of a stockbroker is to connect the investor and the company in need of funding. These individuals must have top-notch skills in the area of financial markets to do well in this type of scenario.
About Stockbrokers in South Africa
The Republic of South Africa has one of the most recognized stock markets in the world. The stock market here is the most developed on the continent as well. Most notably, the Johannesburg Stock Exchange, known as JSE globally, is ranked as the tenth largest in the world. Each year, thousands of transactions occur in this market, for estimates, in the middle of 2008, more than 216 million contracts or exchanges occurred in the market.
To become a stockbroker here, individuals must determine what the company they are planning to work for requires. This can change significantly from one company to the next. However, it is most common that individuals will need to have a significant interest in stock market exchanges as well as the market trends taking place here.
What Training is Required to be a Stockbroker in South Africa
Though each company determines what is required of those who wish to work in the field, most who work in this industry must have adequate knowledge of the markets. Though having a college degree is not a requirement in all positions, it is most desirable for larger investment companies. Many will require entry-level candidates to have business or economics studies prior to begin working in the industry.
You will also need to obtain your license. South African law requires individuals in this field to pass the RPE, or Registered Persons Exam. The SAIFM, or South African Institute of Financial Markets gives this. Once you obtain this license, by sitting for the exam and passing it, you can then work as a stockbroker in the country.
What jobs are available to those wishing to become Stockbrokers
For those who wish to work as stockbrokers, it is often necessary to apply for and secure employment in an investment bank or a trading position within the stock market. Most individuals work as traders within companies that handle stock investing, rather than working on their own or working in the stock market itself. These individuals often will need to find a role with a suitable employer in the country. However, some also specialize in global trading and may work with international companies as well.
Working as a stockbroker can be a very rewarding job to have. For those who have demonstrated skill in making wise financial decisions, it is very possible that you will find outstanding opportunities available for advancement. Some individuals are able to earn lucrative salaries as a result of having proven skills in making wise investment decisions for clients and for their employers.