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Nov 17 , Show posts by this member only Post 1. I'd like to know what are the qualifications to be a legitimate stock broker? Show posts by this member only Post 2. Show posts by this member only Post 3.
QUOTE aurora97 Nov 17 , Nov 18 , Show posts by this member only Post 4. QUOTE sochaichiew Nov 17 , Show posts by this member only Post 5. There are 2 types of stock broker: Show posts by this member only Post 6. I rmb someone told me that it's better work to on CFA or similar designation first, though.
Show posts by this member only Post 7. CFA is a professional course. If you prefer to be a portfolio manager,investment analyst,fund manager etc.. Show posts by this member only Post 8.
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CFA is a pre-requisite for Fianancial Planners which is also a product offered by the Capital Market under "Financial Planning". For ANY Capital Market products which includes: Financial Planning Dealing in Securities Dealing in Futures Fund Management corporate Finance Investment advise All this you will need to take an EXAM which is MANDATORY before license will be issued to you PROVIDED your attached with a Trading Participant or other institutions or u can be a local participant For Dealing in Securities: You will need aDegree from any recognized University by the Malaysian Gov and than you can sign up as a Remisier.
This post has been edited by aurora Show posts by this member only Post 9. QUOTE ameyati Nov 18 , Show posts by this member only Post Have a question, did they get any basic wage instead of brokerage commission? QUOTE aurora97 Nov 18 , Remisiers dont get any basic wages QUOTE Irzani Nov 18 , FYI There's no more diffrentiation between DR and Remisier after 27th sep , all r now known as Capital Market Services Representative CMSRL u will see this title in your license certificate given to you by SC or ur respective licensing dept.
Added on November 18, , Licensed person to carry out stock trading activity is define as CMSR ,regulated under CMSRL act. Eventhough DR and Remisier are under one act, both are different in terms of its substance. Dealer Rep is a staff of a company while remisier act as Principal-agent basis.
There are differences btw these 2 terms, eventhough the role is recognised under the same act CMSRL. Hope TS not confuse with this explanation.. Dec 3 , Sorry, I hope this thread is still alive. Anybody here took Module 12? This exam is seriously killing me I've taken it 3 times already. The questions are very broad. Any help will do!
Dec 4 , Dec 18 , Added on December 18, , 9: This post has been edited by ivanlau Just wonder, what is the average income for amateur vs. QUOTE smartly Dec 18 , QUOTE ohserena Dec 18 , Although i am online user too, i do hope i have a broker than can do analysis for me and give me certain advice which help me in investment.
Dec 19 , QUOTE ivanlau Dec 18 , Mar 26 , Is the course sponsor by the bank when you join them?
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Sep 9 , Jan 15 , Jan 19 , Jan 21 , Jul 14 , Jan 26 , Dealers and remisiers are in the stockbroking industry primarily for the money, which was phenomenally good in the mid's during the mother of all bull runs. However, all good things come to an end. These days, it's not a vocation that I would recommend anyone for a satisfying or fulfilling career, or for the money. You also learn little by way of lifelong skills, unless you want to see human greed and folly on an almost daily basis.
The money is down to a trickle these days. RedJacket is wise to relinquish his high school ambition to be a remisier. Mar 23 , Mar 25 , A typical broker who just receive call or waiting customer to come no longer can earn big money like 80 or Nowadays, u have to look for those who willing to invest in margin.
The trend have been change from cash to using bank money. The high competition have been caused the requirement or the entry become even higher as those employers wish not to hire someone with no connection or networking. Good luck for those who r keen to enter this line. Apr 25 , Also, question to all the other experienced one, how much is the basic salary as dealer?
I am a fresh graduate between.
QUOTE Jo3y Apr 25 , He told me that both will cost RM The basic salary for fresh graduate is roughly 1. Oct 10 , Hi guys is the test very difficult? Please share your experience. QUOTE Sellery Oct 10 , Oct 25 , QUOTE rayng18 Oct 10 , QUOTE spencercg Oct 25 , QUOTE rayng18 Oct 25 , Not sure I still have mine at home but old version one. Dec 22 , It will be better if you get the job first in IB then the co will pay for the course and exam fees and other licensing fees, if you take license first u have to pay for all these and cannot confirm u can get the job.
QUOTE yihan88 Dec 22 , Dec 25 , This post has been edited by danmooncake: Jan 12 , Sep 14 , That is just the kind of thing you can do with binary options!!! Nov 7 , Nov 15 , I am only spm qualification QUOTE hotmale Nov 15 , QUOTE ru Nov 15 , Few things to clerify for you: There is no requirement for module 6 and 7 examinations.
Any Malaysian can register for the examinations. Module 6 and 7 examinations are one of the prerequisites of CMSRL usually called dealer's representative license dealing in securities stocks. Fund management and derivatives futures licenses require different examinations for futures, either 2 from paper 14, 16, 17 and 18; for fund management paper 9 and You can register the examinations and go take it yourself or register under the dealer brokerage firm or investment bank you work at.
However, after you pass your papers, when applying for the CMSRL, there are requirements: Here is what you can do: Obtain a related recognized diploma.
Part time diploma is accepted as long as it is recognized by government of Malaysia MQA. You can either get a job in an investment bank while studying for your diploma or get into investment banking after obtaining your diploma. Bear in mind that you need to apply for the CMSRL within 2 years after passing your examinations.
Usually fund management positions require more than recognized degree such as professional qualifications CFA, CPA etc. Some even requires post graduate qualifications.
Nov 16 , If someone would explain to me more clearly than I might know which module I should take than. QUOTE hotmale Nov 16 , QUOTE hotmale Nov 18 , Nov 19 , Anyone who can help me answer this I would thank him with all my heart Dec 30 , Jun 11 , QUOTE professordrone Dec 30 , Jun 19 , QUOTE CajunBill Jun 11 , Does anyone know if reference materials are allowed for the tests?
Rules and Regulations part seems like law students materials!! Track this topic Receive email notification when a reply has been made to this topic and you are not active on the board. Subscribe to this forum Receive email notification when a new topic is posted in this forum and you are not active on the board.
I Didn't get the Memo Group: For CFP refer Financial Planning - this is also govern by SC but under financial planning. Just you know why.. QUOTE sochaichiew Dec 4 , Is a pre-requisite does not exclude a CFA orMBA from the Exam, the person will still have to take it.
My remisier never do that for me at all. He scares he may get scold if anything turn bad but told him that no worry even if i make loses, it is all my responsibility, yet still he don;t prefer to do that. I guess to rely on people better read on your own and do homework yourself, to make money you need to put some effort instead.
Scenario 1 I suggest you make an enquiry with the relevant bank see whetehr they r accepting anymore Commission Dealers. You can choose to take the SC exam first If u have found a bank that is accepting ComDealers proceed to licensing dept. Fees this part u will need to chech Bursa Annual Membership Fee SC Annual Licensing Fee CPE courses fee variable, in-house is cheaper but dependin Deposit, if ur new Remisier you may be required to deposit X amt i think the standard is RM 50, or Rm 30, dpendin on risk factor i.
If dealer representative for a firm then how their salary and commission counts? Added on May 29, , This post has been edited by william May 29 , Hi, Just want to ask some questions. What is the basis? Normally how many walk in clients really want to invest within a month normal market situation?
How much will the DR get? Will the DR get bonus? What is the range on average? A year, 2 years, 3 years For fresh grad, what is the starting pay?
Any salary adjustment after license obtained? Really appreciate for those who can answer my questions This post has been edited by fazli I tot that when u signed up for Module 6 and 7, reading materials are provided together which is why the exam fees for each module is RM and subsequent resit is RM Mind you the reading materials provided will not be sufficient for you to go thru the exams,you need to have other reading materials as well and some basic in finance.
Market Up, Market Down To be a stock broker, you need to be expert in this sector. Looking for day traders to trade big size accounts Equitie BP starts from 50k to few m's with perspective to grow.
For short period of time traders will have to use a demo platform before they will get a real account. Steady day traders only. This post has been edited by ru If someone would explain to me more clearly than I might know which module I should take than Relax mate here's the difference: Fund management involve a team of people handling a large sum of money mutual fund, reit, hedge fund etc.
At its core is the fund manager s which act as the trustee of the fund responsible for the decision of the money invested in the fund. The easiest way to understand this concept in Malaysia is unit trust fund mutual fund.
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There are various personnel involve in this fund management teams such as fund managers, analysts, sales personnel, compliance etc. A future derivative broker dealer's representative is a licensed sales personnel involve in trading buy and sell of derivative products such as indices futures FKLI, or futures for KLCI index , commodities futures FCPO or crude palm oil future or rates KLIBOR, 3y, 5y and 10y bond rates.
Basically derivative dealer's representative or usually called as futures dealer or futures broker has the power to buy and sell all futures trading in Malaysia. I got this position long time ago with no experience at all and just a degree. Basically they are the sales personnel of securities traded in Malaysia. If you work for a dealer investment bank , you are usually called Dealer's representative or sometimes just dealer but if you has the CMSRL but do not wish to work for a dealer, you can partner with an investment bank and act as your own boss remisier.
Most investment banks welcome fresh graduates for the entry position for DR you do not need much to be a successful DR. Look at all my stars!!