How To Become A Floor Broker

In many states brokers must have two years of experience working as a sales agent but some states require only one year of experience.

How to become a floor broker. Check the requirements to become a broker in your state. There he joins other brokers and the specialist in the. Usually it s required that you re a lawful citizen and resident of the state that you want to practice in and are at least 18 years old.

Onto the desk and the floor you have two years after passing an exam to register with finra to get your license. Trainees become brokers after obtaining their series 7 and series 63 brokers licenses which allows them to solicit trades and officially register with the financial industry regulatory authority finra. It is an interesting position and you will meet alot of characters down there.

Many employers prefer candidates that have sufficient work experience. The floor broker receives an order via teletype machine from his firm s trading department and then proceeds to the appropriate trading post on the exchange floor. The requirements and restrictions to become a real estate broker vary from location to location.

Floor brokers must have at least a bachelor degree in finance business accounting or other related field. In order to obtain a license you must take and pass the series 7 exam which requires. If you want to advance quickly all you need to do is ask around and be friendly to the senior members.

Other states may require three. A college degree is not required to become a broker all that is needed is a license from the finra. A floor broker is an independent member of an exchange who can act as a broker for other members who become overloaded with orders as an agent on the floor of the exchange.

Many floor brokers have a master of business administration degree. I used to work on the floor of the nyse. Basically you need to start off as a runner and pay your dues.