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How to Become a Stock Broker in Texas

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Becoming a stock broker in Texas can be a very lucrative profession. Many stock brokers, if they are good, can easily make six figures per year. The brokers make their money from commissions when their clients buy and sell stocks, bonds and other investments. Stock brokers are financial advisors that offer advice to clients. Stock brokers also place the orders to buy and sell investments on their client’s behalf. To become a stock broker in Texas there are a few but important steps one must follow.

Series 7 Exam

Register with the Financial Industry Regulatory Authority (FINRA) online to begin the process of becoming a stock broker. When registering with FINRA you fill out a form detailing your past work history, education, residential status and other important information. FINRA is the licensing board that administers the Series 7 or stock broker exam.

Pass a background check. Get finger printed at the local police precinct. If you have a criminal history you can’t become a stock broker.

Study for the General Securities Registered Representative Examination also known as the Series 7 exam. Read books, take online courses, listen to CDs, watch videos or attend classes to learn about the financial services industry.

Locate an authorized testing center. According to the FINRA website a prospective stock broker can take the exam “at either the Pearson Professional Centers or the Prometric Testing Centers.” Use their respective websites to find locations in Texas closest to you. Schedule a day to take the Series 7 exam.

Take and pass the Series 7 exam. This exam tests your knowledge of the financial industry, various investments, the stock market, buying or selling investments and ethics for stock brokers. The exam consists of 250 multiple choice questions. Because the exam is computerized you get your score immediately. Passing this exam helps you to get a a license to work as a stock broker in Texas.

Series 63 Exam

Study for Uniform Securities Agents State Law Examination also known as the Series 63 exam. Texas is one of many states that requires this exam in addition to the Series 7.

Schedule an appointment with Pearson or Prometric to take the Series 63 exam.

Take and pass the Series 63 exam. The computerized exam consists of 60 multiple choice questions. By passing both the Series 7 and 63 exams you get a license to become a stock broker in Texas.

Start the job hunting process. Look for jobs with full service and discount stock brokerage companies, financial advisory firms, commercial banks and other financial companies in Texas.

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