With the Indian market growing steadily, stock brokering has become a popular career option. A stock broker is a registered professional who buys and sells stocks or shares in the secondary market on behalf of their clients or investors. An individual or company who wants to buy or sell stock must go through a broker since only they are authorized to perform these transactions. A stock broker needs to be a financial expert who is aware of the market and market conditions that control the stock price. Brokers should also have excellent judgment and foresight to offer the right advice to clients based on their financial needs and their ability to bear risk. In return for their services, brokers are paid a commission called brokerage that is based on each transaction or the total trade value.

Take a course in stock brokering. The National Stock Exchange (NSE) and the Bombay Stock Exchange (BSE), among other institutes, offer certified courses in stock brokering. These courses are related to capital markets, investment, financial planning, equity research, securities and portfolio analysis and other certificate courses.

Work at a stock brokering firm. One of the criteria for becoming a stock broker in India is to have a minimum of two years’ work experience at a stock brokering firm or in a field related to securities or financial services.

Determine what type of services you want to offer as a stock broker. Some brokers offer a wide range of financial products such as stocks, bonds, derivatives and insurance. They may also offer services that include investment advice, investment strategies and in-depth research and analysis. Other brokers may only execute trades without offering investment advice, and may charge lower fees.

Ensure that you have adequate infrastructure and finances to register and operate as a stock broker. One of the criteria the Securities Exchange Board of India (SEBI) considers while evaluating your application as a stock broker is whether you have the required office space, equipment and manpower to work effectively as a stock broker. If you intend to become an online stock broker, you must provide a reliable online stock trading platform that offers access to stock exchanges and depositories and functions without technical glitches.

Register as a stock broker with SEBI. Stock brokers in India are governed by the SEBI Act of 1992, which requires stock brokers to first register with SEBI, who will evaluate your application to see if you are eligible to become a stock broker before issuing you a registration certificate.

Become a member of a stock exchange. Besides registering with the SEBI, stock brokers must become members of one or more stock exchanges such as the NSE and the BSE. The application forms are closely evaluated by the exchanges before granting membership. Most major exchanges require stock brokers to pay a security deposit and a membership fee, which usually involve a considerable expense.

Market your services as a stock broker to attract clients. Word-of-mouth publicity and customer referrals are usually the best ways to get more business as a stock broker. If your portfolio performs well, leverage that to win the confidence of potential customers.