If you are already preparing yourself to be a stockbroker, you know that there is no prior educational background necessary to enter this field. In fact, you do not even need to have a college degree to get into the industry. That is not to say that an additional knowledge in economics, finance, and business management, and a computer background would not prove to be beneficial. You may ask yourself, then, why you would need to get a stockbroker license.
To put it simply, it is a requirement before you can broker any transactions in the stock market. To become a full-fledged stockbroker, you first have to find a brokerage firm that will take you in for at least four months before you can even qualify to take the licensing exam. This is the General Securities Registered Representative Examination. Even after passing this exam, many states require you to pass the Uniform Securities Agents State Law Examination, to make sure you are aware of the different aspects of the stock market.
But acquiring the license it is the least of the requirements for you to get in to the industry. Even after obtaining your license, you are simply considered a trainee. To be recognized as a stockbroker, you have to take more classes and training for up to two years. And even after that, most employees require you to enter continuous training to keep yourself up to date with the market.
After taking all the training and classes you can and after acquiring your license, you are still not guaranteed success. If your only motivation to get into the industry is for you to earn millions of dollars in the stock market, you may simply end up in frustrated. You have to have innate interest in the stock market, good analytical skills, and a pool of good clientele to help you succeed in this industry.