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.

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.

Than...

You can choose to take the SC exam first...
> Module 6 n 7 (most common)
> u can find all the materials with SC.

Than...

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 50,000 or Rm 30,000) dpendin on risk factor i.e. u.

Is the course sponsor by the bank when you join them?

Hi,


First and foremost is you should have commerce/economics background to pass the eligibility test to become a stock broker. it is a good career option.




Regards,
sarah_9




World Market

hi. what is means by 60:40 profits sharing basic? If dealer representative for a firm then how their salary and commission counts?

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Added on May 29, 2011, 10:23 pmstock broker can't have their own trading account??

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Added on May 29, 2011, 10:26 pmstock broker can't have their own trading account??

This post has been edited by william1999: May 29 2011, 10:26 PM

Hi,

Just want to ask some questions. One of the Malaysian top investment bank give dealer representative (DR) a salary plus commissions/ incentives (depend on the sales he/she made).

However, I wonder...how the DR get their clients. Especially retail DR. If there are no walk in clients (worst scenario), will the comp do anything to help the DR & get his/her incentive or comp will do nothing & the DR will get his/her salary only during the pay day...

Second issue is how is the incentive calculated, means how much the DR will get his/her incentive. What is the basis? Is it per amount invested/ per client/ per deal or etc).

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...

Any increment & What is the range (on average)?

For fresh grad, what is the starting pay?

Any salary adjustment after license obtained?


Really appreciate for those who can answer my questions...

TQ.








This post has been edited by fazli196: Jan 19 2012, 11:49 PM

1

This post has been edited by RedJacket: Jul 14 2014, 08:55 PM

Dealers and remisiers are in the stockbroking industry primarily for the money, which was phenomenally good in the mid-1990'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. And yes, you are more a sales/marketing person than an investment adviser. RedJacket is wise to relinquish his high school ambition to be a remisier.

i like to become one of them but i only spm

was a broker b4... well, the competition for this industry is exponentially increase along with time in future especially when RHB merge with OSK. A typical broker who just receive call or waiting customer to come no longer can earn big money like 80 or 90. 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.

I would like to know whether there is availability to get the SIDC syllabus reading materials for free if I were to take modules 6 & 7? Also, question to all the other experienced one, how much is the basic salary as dealer? I am a fresh graduate between.

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 RM200 and subsequent resit is RM100. Not sure about the basic salary but should be around 2K+ same as any other job for fresh grads. 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.

I actually asked my friend who worked as remisier and has taken modules 6 & 7 before. He told me that both will cost RM400.00 as for the reading materials will have to buy from the SIDC (i dunno how much though). The basic salary for fresh graduate is roughly 1.8k-2.0k

Hi guys is the test very difficult? i heard its 6 hours long and it is one of the most difficult test around. Please share your experience

Both Module 6 and 7 are MCQ(multiple choice Question), 60 questions for 1 1/2 hrs each. Passing mark is not 50% but I was told is at least 2/3 ie 67%.

Tough? depends on individual one is finance the other is rules and regulations/law.

bro, do you know where can i purchase the module 6,7 reference book first? i hope i can study the book first before go to register for the exam. i think its better to prepare the exam earlier. thank you

u can get the books from SIDC in Securities Commission in Mont Kiara. Not sure I still have mine at home but old version one.

so bro, do we need to get the licence first before applying the job or after apply the job?

for examples, this job,
http://impact-my.jobstreet.com/CML-Careers...CeIpARuMe7bQ%3d

Successful candidates will be required to sit for Module 6 & 7 and apply for Dealer's Representative Licence.

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.