How to Become a Stock Trader in Toronto
A stock trader buys or sells bonds, stocks and mutual funds on behalf of clients and businesses. He or she reviews stock portfolios, prepares transactions and places bids. Becoming a stock trader in Toronto requires several steps that are regulated by the Canadian Securities Commission and the Ontario Securities Commission. It is a highly regulated field, so failure to comply with any rules or regulations can result in forfeiture of your license. Basic requirements include education, training and examinations.
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Instructions
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Complete an undergraduate degree in finance, business or economics. In stock trading, which involves dealing with numbers and numerical transactions, it is essential to have a degree in a related field. Pursuing an MBA is recommended for better job prospects.
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Complete the Canadian Securities Course administered by the Canadian Securities Institute, www.csi.ca. This is a requirement of all stock traders in Toronto. Classes include training on the Canadian securities and regulatory environment, understanding and analyzing corporate financial statements and industry standard codes of conduct and ethics. As of 2010, prices for these courses range from $915 to $1,245.
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Apply for your license with the Ontario Securities Commission. You must successfully pass two multiple-choice exams of 100 questions each. You are tested on mutual funds, equity transactions and derivatives. You can access the application at www.osc.gov.on.ca. You must provide documentation of securities course completion, the firm you work for and proof of citizenship or permanent residency.
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Maintain your license. Complete continuing education courses, comply with business conduct guidelines and submit activity fees as mandated by the Ontario Securities Commission. As of 2010, the yearly activity fee is $75.
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References
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