Most of us have experienced buying and selling stuff. At some point, we’ve all had experienced buying and/or selling for a variety of stuff including a collectable, toy, or another asset. When you were young, have your tried exchanging your dino toy to a toy soldier during playtime? While in college, have you traded cards or got some stuff for some of yours? Ever bought a car and exchange it to another model?
What these have in common is that it can be the beginnings of what could be a successful career as a stockbroker.
Here’s how to get started with trading
You’ll find that most online articles about stocks and trading these days will mention the references to the movie “The Wolf on Wall Street”. There are the power suits. The furious stress. The dynamics of the stock market.
The still flat-stomach Leonardo DiCaprio. Everything looks fantastic – Over the top and glamorous. Hollywood continues to depict stockbrokersthis way and the seemingly grand life of these high-powered men and women. Indeed, the influence of wanting to become one has reached many would-be investors.
It is straightforward to become a stockbroker in the Philippines. It has something to do with planning and market knowledge. And not, not all stockbrokers are math experts. However, to begin a career in being a stockbroker in the Philippines, you must be open towards working with numbers as well.
What is a stockbroker anyway?
In a nutshell, stockbrokers buy and sell stocks and other securities for clients; these clients might be individuals or institutions. They receive a commission which is compensation for doing the transaction for the client. And since investments equate to money, which must be handled carefully, you need to pass licensure exams to become a stockbroker.
No investor can start to trade stocks without a broker. Regardless if you prefer an online platform or deal with a professional to handle your trades, you need to open an account first with a stock brokerage firm before you can begin investing in stocks.
Beginner knowledge
To become a stockbroker in the Philippines means being under the Securities and Exchange Commission (SEC). All aspiring stockbrokers would need to apply for registration as the initial step under its Capital Market Professionals program.
What to look for in a stock brokerage firm?
Broker and website stability
You need to find a stable online trading website since a website’s downtime could mean huge losses, especially if it happens during times of trading volatility. Just imagine wanting to sell a stock to acquire profit only to face a page error when using your broker’s website.
What’s good is that most brokers offer an alternative if issues happenwith the website. They provide you with a contact number that will let you talk to a live broker to execute your trades. However, this takes time and could waste precious minutes that you can use to execute a trade by yourself.
End Note
Of course, there’s more to it than what’s available in this quick article. You can learn more about stock trading and the best stockbroker Philippines has by visiting resource pages and brokerage websites.Tread lightly and see where you’re going before you fully commit. Happy trading!
