Skills needed to be a stock broker

Written by jennifer hench
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Skills needed to be a stock broker
A career as a stockbroker takes intelligence and persistence. (wall street with flag image by Tomasz Cebo from Fotolia.com)

Choosing a career as a stockbroker is a good choice for you if you have the skill set and determination for working in the fast-paced and high-pressured world of stocks, investing and finance. Understanding the basic skill set required is your best bet in ensuring success in becoming a stockbroker.

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Analytical Ability

Stockbrokers need to have the ability to analyse data on a routine basis. Disparate data is often used by stockbrokers to make predictions and decisions regarding market trends and stock picks. Having the skills required to analyse data is essential and analysis is performed on both numerical and written data.

Mathematical Ability and Agility

The ability to process and run numbers and calculations quickly and in your head is another skill required by stockbrokers. Though computer programs assist stock brokers, they need to have the ability to quickly look at, process and calculate figures as some trading decisions need to be made quickly.

Sales Skills

Stockbrokers need to have sales ability, since they have to sell to their customers, however, sometimes they are selling their customers on buying a stock and sometimes on selling. Stockbrokers earn a portion of their income through trading fees and commissions, so both buying and selling stock on behalf of their clients is required. Strong sales skills are needed to help explain to your clients that the financial advice you are giving them is true and correct.

Forecasting

Stockbrokers deal with the stock market in both real time and in predicting what should and most likely will happen next. This makes it imperative that a stockbroker is skilled in forecasting. The ability to see trends developing is a way in which stockbrokers forecast markets and market conditions.

Communication Skills

Communication is key for a stockbroker. You need to communicate with other brokers and traders and you need to be able to effectively talk to, listen to and understand your clients. High levels of communication skills, both written and verbal, are a necessity for any stockbroker.

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