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Students must not only acquire a variety of skills to become an options broker, but will also need to learn how to work in a fast-paced, high-stress environment. This job can be demanding, and aside from education and training, additional life skills are required to successfully become an options broker. Students will have to excel in advanced mathematics in order to increase his or her knowledge of the financial components involved in buying and selling stock options. Some jurisdictions require options brokers to possess specified licenses in order to actively work as a financial adviser. A college degree is not always needed, but most financial firms prefer employees to have an extensive educational background.
Those who want to become an options broker should consider getting a bachelor's of science (B.S.) degree in finance. Students who commit to a finance program will generally take courses in marketing, financial planning, accounting, and business management. Although a bachelor's degree is not always required to become an options broker, students who receive a degree will improve his or her job choices and may receive a higher salary. Some students choose to continue their education in order to get an advanced degree, which could also significantly help a career. Internships are also beneficial because students are able to observe the stressful nature of this financial position.
Most countries have a financial authority organization that sets guidelines for potential brokers. One stipulation is that individuals are expected to work for a brokerage firm before taking the necessary exams needed to become an options broker. Some firms help prepare and provide funding for employees license examinations. Positions during this time are primarily entry level until the broker is licensed in the designated jurisdiction. After passing the license exam, employees are eligible to legally buy and sell stock options.
Additional traits needed for this position are excellent interpersonal skills, problem solving techniques, organization, and the ability to work under pressure. These are all equally important traits because options brokers are in constant contact with a number of clients. Organization and problem solving techniques are essential because the broker is in control of the client's stock activities and must be able to meet deadlines, produce figures quickly, and handle accounts. Employees must also keep up with all industry trends and should continuously review daily financial events throughout the world because there a variety of factors that could impact stock options.
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