# Trainee Stockbroker



## builder2818 (14 August 2010)

I have seen a few job ads over the last couple of weeks for trainee brokers in commodities, FX and Equities. Has anyone here undertaken a traineeship in a broking firm and not gone the traditional route of University?

While 98% of the jobs advertised everyday require you to have tertiary qualifications, are they really necessary? Many university qualified talking heads don't seem to have an idea what drives markets up and down.


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## supermatt (14 August 2010)

most of the people who get these jobs have their head in their a$$ and cant even stand the heat of trading anyway, i really dont know why you need qualifications for these jobs its a joke but its just the way these professions are i guess. 

maybe its a way for them to narrow down who has the biggest pecker (the one who gets the job) rather than taking the time to get someone who understands how markets work or atleast has the passion to.


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## builder2818 (14 August 2010)

If the ones with the qualifications have their heads up their a$$, what about those who don't have a qualification but keen to pursue broking through one of these traineeships?


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## Ruby (14 August 2010)

builder2818 said:


> While 98% of the jobs advertised everyday require you to have tertiary qualifications, are they really necessary? Many university qualified talking heads don't seem to have an idea what drives markets up and down.




I think at the very least you will have to be PS146 compliant. This is an ASIC requirement.  (It is called RG146 now).  You will probably have to have a Diploma of Financial Services / Diploma of Financial Markets from Kaplan (or equivalent).   Hope this helps.


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## skyQuake (14 August 2010)

Ruby said:


> I think at the very least you will have to be PS146 compliant. This is an ASIC requirement.  (It is called RG146 now).  You will probably have to have a Diploma of Financial Services / Diploma of Financial Markets from Kaplan (or equivalent).   Hope this helps.




Yup, otherwise its just backoffice work.

Reconciliations, bookings, settlement


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