Are you interested in the world of brokers but you don't really understand how it works and you don't know where to start? Is being a broker the most attractive direct way to achieve a life with full economic and financial freedom? What steps do the most successful people in the world take to amass great fortunes in record time working as brokers?
Since the premiere of the acclaimed film "The Wolf of Wall Street", many people have become interested in the world of the Stock Market and who dream of one day becoming successful brokers, but is this possible for anyone?
“My name is Jordan Belfort and creating wealth has no secrets from me; no matter who is; no matter where it comes from; you too can become financially independent in a matter of months… you just need a strategy. " - The wolf of Wall Street
In case you are still not sure, a broker is simply a financial advisor who orchestrates transactions so that companies or individuals can achieve their goals and purposes.
Becoming a broker can be very satisfying, but to get to work as a stock market person you will have to put in a lot of effort and work very hard first, something that not everyone is willing to do.
What it really means to be a broker
Although what Hollywood movies and television series paint is a "high-end" life, true brokers not only face pressure situations throughout their day, but have also had to go a long way to get there. to become who they really are.
The broker's mind is focused on training. They usually do their best to go to a good university and get the best grades in order to get quick access to more advanced training. There are many university careers that can open the way to the world of the Stock Market, such as Economics, Finance, Mathematics or Business Administration and Management are some of the most demanded careers by all those who dream of buying and selling shares in the stock market.
Most future brokers consider it essential to achieve a solid training base that allows them to access scholarships or masters that bring them a little closer to their true dream.
Although it is not an essential requirement, taking an MBA is an option that more and more people are opting for, since it not only boosts their career as a broker, but also opens a multitude of job doors.
However, today we have a huge amount of information available to anyone. You can use the internet or visit the library to soak up everything related to the world of brokers. You just need to read books, check financial news or you may even know someone who already operates on the stock market. The information is closer than you imagine!
In addition to training, it is highly recommended to start putting your knowledge into practice as soon as you can. This not only serves to strengthen all your financial skills, but it will also allow you to start building your investment portfolio.
Decide if you really want to be a broker
As you can see, becoming an expert broker and making a living buying and selling shares on the stock market entails a heavy investment in training that not everyone is willing to take on. If you are already fully convinced that you want to be a broker, then great. You just have to decide what type of broker you want to be:
- Full service broker: They are highly demanded by the most inexperienced, since in addition to buying and selling services, these brokers also advise the client to ensure that their business is always a real success. Generally, you will start earning very little, since the important thing is your training and learning until the end of the trial period.
- Discount broker: The possibilities offered by the internet have made it possible to create computerized systems for clients to carry out transactions without the need for human intervention. Although the commissions are smaller than what we find in full service trading companies. In addition, here you will not have to advise anyone, but simply you will have to know a little of everything to make your clients' investments grow.
- Bank broker: This is the most practical way to become a broker. You work for a bank where clients come to you to manage their transactions.
As you can see, the type of broker you want to be depends exclusively on your individual questions. For example, if you are interested in knowing the potential performance before trading, then binary options are a great idea to become an online broker in Spain.
The reality is that binary options are a simple and quick solution to get started in the world of brokers, since it is becoming more and more popular among those who seek to invest in the Stock Market quickly and effectively. However, if you go the binary options path, it is important to know a few things that will undoubtedly help you become a broker. On the web there is very precise information about the basic questions about binary options that can be very useful to know before making your first investment in the Stock Market.
Once you are clear about what type of professional career you want to pursue, the next step is to apply for the different firms that can offer us an opportunity to develop ourselves as brokers. Keep in mind that the normal thing if you opt for a large company is to have a complete training package to lay the most important foundations. On the other hand, although in a small company you may feel more comfortable, they may not be able to offer you such a complete program.
After a few months of training, you should make sure you meet all the essential requirements to be able to operate as a Stockbroker.
Become a real broker
Once you are clear that you are going to have to invest a good amount of time and money in knowing in depth everything that surrounds the figure of the broker, it is time to get down to work, since it will be time for you to start define your profile as a broker.
How to work as a broker in real life?
Build a customer base
The success of any broker depends, without any doubt, on the size of its client portfolio. The most common ways to get new interested in your services as a broker is reduced to the traditional method of calling a list of prospects, although the most effective way to achieve this objective is usually with a database of people who are really interested.
Know the details
Let's face it: the world of the Stock Market is as complex from the outside as it is from the inside. It is impossible to summarize all the aspects that you will need to consider during your career as a broker. However, the main thing to keep in mind is that other people are trusting you to risk their hard-earned money.
On the other hand, being a stockbroker has some clear advantages, and that is that, little by little, your annual income will grow. Although at the beginning you will spend the whole day working, if you persevere there is a high probability that in less time than you imagine you will be able to work only a few hours a week, while increasing the return on your investments that you earn.
Strengthen your skills
Especially in the beginning, the life of the broker is not at all smooth.
You will work under pressure, having multiple appointments on the same day, seven days a week. This is the general trend of anyone who wants to dedicate themselves to being a Stockbroker, but clearly this is what makes many people rethink their future as a broker. If you're willing to take on a constant job under pressure, then there may be a place for you in this industry.
Learn to convince
The main pillar of brokers is basically trust.
Think that your clients risk their money for you in order to multiply it, so, undoubtedly, knowing how to convince plays a fundamental role in this mission. Many people turn to mentors to learn some persuasion tricks, since they know perfectly well that the success of their purposes lies in their ability to convince others.
Become an excellent communicator
Just by taking a look on the internet we realize that there are a multitude of terms and concepts related to brokers. Mastering them is not only an essential requirement to work in the Stock Market, but you will need an efficient way to communicate them to all those clients who do not have your knowledge.
By improving your communication skills you will be taking a huge step so that your clients can easily access all your knowledge.
Surround yourself with other brokers
This is not only valuable for all the resources it offers in customer or knowledge matters, but surrounding yourself with people with common philosophies and vital goals will bring us directly closer to our destiny of being a stockbroker.
With people with like-minded dreams around us, the task of knowing and developing our full potential as a broker will increase exponentially, as we will have real examples of what the way forward is before becoming the best brokers in our lives.
As you can see, the path to professionalization in the Stock Market is steep and winding. There are many who dream of working as brokers, but only the most persevering and ambitious are able to overcome all this. The beginnings are always usually hard, however, only the people who overcome this phase are those who are truly predisposed to work as brokers.