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Should You Work as a Stock Broker Before You Become an Independent Trader

Independent trader vs. stock broker

I received a client question recently asking if they should become a broker first and then become an independent trader.  Their goal was to one day become a successful independent trader.

Typically, when you’re a stock broker, you’re more of a salesperson. You’re the one answering the phone and executing trades for others. Just because you’re executing a trade someone has asked you to place, doesn’t mean you understand why they are placing that trade now or any of the other thought processes going into that order.

Essentially, you become a Customer Service Representative. This is typically what most stock brokers do.

Some stock brokers get a percentage of the profit from the orders they place.  If a customer places an order for 500 shares and it takes off, they are going to get a percentage of that profit.

It can be harder to become this second type of stock broker.  In this role, you’d be giving tips and advice on where/when/how much of a stock to get into for your client.

What is your goal?

If your goal is to become a successful independent trader, I wouldn’t personally recommend becoming either of these 2 types of stock brokers.

Why?

Well, if you take the route of becoming a broker, your goal will be to focus on giving tips or taking calls for other people. It won’t be focused on yourself and on the things you want to learn to start trading independently.  It will add extra steps to your goal of trading for yourself.

I recommend you focus on yourself and the skills you need to build to become a successful independent trader first.

If you do decide to become a stock broker, don’t become a sales person.  Become the kind of broker that understands the market and can give sound advice.

Whatever route you take to become an independent trader, remember that it will take time, focus and lots of education to be truly successful.

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This website and content is for information purposes only as Rise2Learn, TradersFly, and Sasha Evdakov are NOT registered as a securities broker-dealer nor an investment adviser. No information herein is intended as securities brokerage, investment, tax, accounting or legal advice, as an offer or solicitation of an offer to sell or buy, or as an endorsement, recommendation or sponsorship of any company, security or fund. Rise2Learn, TradersFly, and Sasha Evdakov cannot and does not assess, verify or guarantee the adequacy, accuracy or completeness of any information, the suitability or profitability of any particular investment, or the potential value of any investment or informational source. The reader bears responsibility for his/her own investment research and decisions, should seek the advice of a qualified securities professional before making any investment, and investigate and fully understand any and all risks before investing. Rise2Learn, TradersFly, and Sasha Evdakov in no way warrants the solvency, financial condition, or investment advisability of any of the securities mentioned in communications or websites. In addition, Rise2Learn, TradersFly, and Sasha Evdakov accepts no liability whatsoever for any direct or consequential loss arising from any use of this information. This information is not intended to be used as the sole basis of any investment decision, nor should it be construed as advice designed to meet the investment needs of any particular investor. Past performance is not necessarily indicative of future returns.

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