How do I become a stockbroker in South Africa?

Under South African laws, you need to hold a license in order to represent a client. To obtain your stock broker license, you must first pass a regulatory exam called the Registered Persons Exam (RPE), which is provided by the South African Institute of Financial Markets (SAIFM).

What exam do stockbrokers take?

The Series 7 and Series 63 licensing exams are required to become a stockbroker. While some brokers work at full-service firms and cater to high net worth clients, others work at discount brokers and serve all types of individual investors.

How do I become a stockbroker without a degree in South Africa?

If you do not have a degree, you can write the Registered Persons Examinations, which include: introduction to financial markets, regulation and ethics, and equity market. Bruce says these are the basic requirements before you can apply for a job.

What qualifications do you need to be a stockbroker?

There are no set qualifications if you want to become a Stockbroker, although most employers will expect you to have a degree (normally class 2:1 or above). Your degree could be in any subject, but economics, business, finance or accountancy may give you the edge.

What are Series 7 Questions?

The Series 7 Exam is 3 hours and 45 minutes in length. It consists of 125 multiple choice questions along with 10 un-scored pretest questions that are randomly distributed. It costs $245 to register and the passing score is 72. The exam covers the 4 major job functions of a general securities representative.

How do I become a short term insurance broker in South Africa?

Learning paths are as follows:

Obtain an FSB recognised qualification and complete the RE Level 1 and RE Level 2 examinations before you may work independently as an Insurance Agent.
Study through IISA registered training providers.
Obtain a Further Education and Training Certificate NQF Level 3 or Grade 11.

How can I be a broker?

How to get set up as a broker

Broker study and training.
Complete a credit history check.
Complete a police history check.
Apply for EDR membership.
Apply for Professional Indemnity Insurance (PI Insurance)
Join an industry association.
Provide proof of your identity.
Set up your Australian Business Number (ABN)

What does a stock broker do in South Africa?

A stock broker is a person that acts as a middleman between two investors on the stock market. His job is to research the financial markets and buy and sell stock on behalf of his clients. The Republic of South Africa (RSA) showcases one of the world’s most recognized stock markets and certainly the most highly developed in the continent.

Is the new SA stock broker website operational?

Welcome! We are pleased to announce that our new and improved website is now operational. This launch is only stage one of quite a few pending enhancements that we will be adding during the coming months. A big thank you for your patience during the implementation period.

How much does it cost to take the stock broker exam?

The cost to take the exam is $305.00 and is usually paid for by your sponsor. But make sure so you don’t see a surprise debit in your paycheck. Once you do pass your exams, you’ll be allowed to sell a number of securities as well as other investments.

What do you need to become a certified stockbroker?

In order to become a Certified Stockbroker and hold the designation CSb (SA) a series of exams and practical experience in the financial markets is required. The following examinations must be completed:

How do I become a stockbroker in South Africa? Under South African laws, you need to hold a license in order to represent a client. To obtain your stock broker license, you must first pass a regulatory exam called the Registered Persons Exam (RPE), which is provided by the South African Institute of Financial Markets…