How to Become a Trader on the Floor
- 1). Get a job with a company that is a member of a stock exchange with a physical trading floor, such as the New York Stock Exchange, and has positions for agents as floor traders. The Bureau of Labor Statistics states that most finance professionals need a bachelor's degree in business, finance or a related field to get an entry-level position, as well as a good credit score, clean record and charismatic and competitive personality. A Master's of Business Administration and experience in finance also help.
- 2). Take the FINRA General Securities Registered Representative Examination. The exam is the most basic licensing exam for finance professionals; any broker or trader working for a finance company must take and pass the exam. The exam is six hours long with 250 questions and a passing score of 70 percent.
- 3). Register as a broker representing your firm with FINRA once you pass the licensing exam.
- 4). Take any other licensing exams required by your state or occupation. FINRA administers over a dozen licensing exams for different types of securities and financial products. Ask your supervisor for information about other licenses and exams that your particular field, track or local government requires.
- 5). Apply and compete for a floor trading position in your company. The Bureau of Labor Statistics states that floor traders are a small but powerful group in a large and extremely competitive industry; positions are not always open and competition for open jobs is fierce. Moving into a floor trading position at your firm requires dedication, perseverance and consistently proving your abilities as a sales agent and trader in other areas.
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