How to Become a Stockbroker on Wall Street

Wall Street is the home of New York Stock Exchange which is the largest stock exchange of the world in terms of market capitalization of the listed companies. Furthermore, the headquarters of several other major stock exchanges including New York Mercantile Exchange, NASDAQ and New York Board of Trade are also located in Wall Street. Stockbrokers who provide their services in Wall Street are considered as one of the most highly paid professionals around the world. It takes a lot of courage, determination, dedication and perseverance to become a stockbroker on the Wall Street.

Instructions

  • 1

    First of all, you have to complete your education. Although, there are no formal requirements to get the license to work as a stockbroker on the Wall Street, it is better to at least complete your graduation before applying to any brokerage firm to enter into the market. Your finance and economics must be very good if you want to become a broker on the Wall Street. Moreover, you must possess very good interpersonal skills and an outgoing personality so as to make a sound impact on the investors and other officials working in the stock exchanges. 


  • 2

    Then, you have to prepare for the written exams which are compulsory to get the license to work as a stockbroker on the Wall Street. The Series 7 examination is administered by the Financial Industry Regulatory Authority. Moreover, you will also have to pass the state licensing examination. You will require at least a couple to months to prepare well for the examination.


  • 3

    Before taking the exams, you must be registered with any brokerage firm. Therefore, you will have to apply for a job in any brokerage firm of your choice. Please note that some brokerage firms also provide assistance in preparation for the exams.


  • 4

    Prepare well for the job interview and after getting the job, work hard to learn the procedures of making investments and attracting potential customers. After some time, you will start feeling confident about your future in the brokerage industry. Then, appear in the Series 7 and the state licensing examinations. After passing the tests, you can formally start your career at any brokerage firm on the Wall Street as a stockbroker.


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