Online brokerages are always interested in talking to qualified candidates. Broker dealers must pass a series of exams to receive a license in the state in which they operate. For starters, find online brokerage services training that will assist you in passing the Uniform Investment Advisor Law Exam (Series 63)and the Uniform Combined State Law Exam (Series 65) that are required by the Financial Industry Regulatory Authority (FINRA).

Get training for online broker software so that you can begin trading as soon as you receive your licenses. Find online stock brokers courses to earn your Series 7 stock broker credentials so that you can begin trading while your continue with your education. Look for training for online brokers that suits your current level of professional development.

1. Look for entry-level training for online trading brokers.

2. Get online brokerage advancement through certifications.

3. Join trade groups to train with other online brokers.

Action Steps
The best contacts and resources to help you get it done

Try web-based entry-level training for online brokerage solutions

Keep an eye out for the trends that are leading the industry to point you to the training that you need to meet the demands of the times. Consider basic training on the stock market to learn how to read stock tickers, annual reports and investment ratings before working on your first trading license so that you'll be familiar with the language.

I recommend: Check out the many training options that are offered the Empire Stockbroker Training Institute. Go through the entry-level training opportunities presented by Futures Knowledge to get your career jump started.

Add additional credentials and training for online brokerage firms

A successful online brokerage career will require multiple licenses. To receive these, you will need to take all of the necessary advanced training and exams that cover each kind of investment vehicle including commodities, investments and compliance designations. Look for opportunities to round out your ability to work for any online broker firm.

I recommend: American Investment Trading can help you get the licenses and advanced certifications you need to be a successful online broker. Get trained by professionals who have worked in the field through a multitude of online courses at the Stockbroker School.

Participate in online brokerage groups that offer training to their members

Most trade associations offer continuing education and professional development courses for their members. Some groups can guide you to special certification courses that will help you advance your online broker career and get the licenses you need to sell all the various security products. Take the opportunity to compare online brokers while you build relationships so that you can better decide where you might like to work.

I recommend: Keep up with professional development and continuing ed programs through the North American Securities Administrators Association. FINRA offers an extensive education program, including classroom courses and online broker training.

Tips & Tactics

Helpful advice for making the most of this Guide

• •  While you are preparing for your license exams and learning the online brokerage business, open a trading account with an online broker to begin making your own investments and getting the experience of trading.

For stock market investors of all stripes, the news about online brokers couldn’t be better. Competition for your business is stiff, leading to low prices, extra services, lots of choices and perks previously reserved for high rollers. And in some cases, online brokers and online stock trading services are even being offered free (at major banks including Wells Fargo and Bank of America)!

Online brokers come in many varieties. In fact, every brokerage firm offers online capabilities, including the full-service firms that offer advice, proprietary research and other services for a fee. There are also discount and deep-discount firms with per-trade costs as low as $5.

It’s all a matter of personal fit. What are you comfortable with? Do you want a live person to deal with if needed, and the (relative) safety of a major brokerage firm name (Merrill Lynch comes to mind)? Or is a firm offering basic online trading tools at the lowest possible price what you’re after? Maybe it’s something in-between — an online brokerage firm with discount prices, but which also provides a wide range of other account services and stock research, too.

Yet another choice is to establish an investment account with online stock trading capabilities through a bank (maybe your current bank), allowing you to keep your money all in one convenient location. It’s your choice. Here’s how to get it done:

Action Steps
The best contacts and resources to help you get it done

Compare online brokers and brokerage services

These days, with online trading prices at rock bottom, the real battle is over additional services the online brokers can offer.

I recommend: Investing Online Resources Center (IORC), an independent, non-commercial investor education organization, has links to independent rankings, service comparisons and features of online brokerage firms from places such as Smart Money magazine and JD Power. Take IORC's quiz to find out if online investing is right for you. Or see their tutorial on signing up for an online broker account.

Pick your online broker account and sign up

Check prices, features and available research at several different online stock trading firms.

I recommend: To keep your finances in one place, try online broker accounts and services at your bank. Not all banks offer online brokerage account services. A few that do include majors like Citibank, Wells Fargo, Bank of America, Chase, Wachovia and others. Discount or 'premium discount' brokers, including Charles Schwab, Ameritrade, Scottrade, TradeKing, FirstTrade and eTrade can all provide the online trading accounts and tools you need to buy and sell stocks with low commissions. Full service firms for online stock trading include big names like Merrill Lynch, Edward Jones, Morgan Stanley and A.G. Edwards.

Inform yourself with online stock trading advice

The more knowledge you acquire about online stock trading, the better your chances of success.

I recommend: Market information sites such as CNBC, MarketWatch and Yahoo! Finance have a broad range of helpful information and tools helpful for online stock trading. Morningstar is an 'A-List' provider of independent research for individual investors (as well as financial advisors and institutions), including a variety of stock and mutual fund publications, websites and software. Brokerage firm customers get access to stock research and tools that vary greatly by firm. Leading discount broker Charles Schwab, for example, functions more like a full-service firm by providing stock research and trading recommendations. Their 'Active Trader' service offers a series of advanced stock trading tools, including software, data, proprietary research and specialized support. TechniTrader and Investools are among the independent firms offering stock trading education, tools and strategies. Value Line is also an excellent source of stock trading information, as are Better Investing and PowerRatings.

See our other stock investing How-To Guides

How-To Guides on Work.com and Business.com can help you locate all the tools and resources you need to be successful at investing in stocks.

I recommend: Other top-rated How-To Guides on successful stock market investing include: Stock Trading: Success in both bull and bear markets; Stock Quotes: Free online stock quote services abound. And add-ons can dazzle; and Stocks (Equities) and Stock Investing.

Online brokerages are a growing industry, often offering investors better fee packages and more immediate access to changing market opportunities. Compare the returns of online brokers with those of more conventional stock brokerage houses by subscribing to online brokerage industry publications and current reports.

Follow trends affecting online broker software and calculating applications. The latest market software allows online brokerages to stay in contact with their clients in real time throughout the day. By subscribing to email alerts and news feeds that cover online brokerage firms, you can keep up with the trends and use the new IT developments to serve your own clients. Look for online brokers news and trends in a variety of places.

1. Look for sites that cover breaking market news for online trading brokers.

2. Subscribe to resources for online trading brokers to follow the trends that are driving the industry.

3. Participate in associations for online brokerages for a line into the issues facing the industry from trading experts.

Action Steps
The best contacts and resources to help you get it done

Receive news directly from online stock brokers that provide updated headlines and market reports

Register with automatic news feeds and join forums and blogs to keep up with the latest developments being utilized by online trading brokers. You'll hear about the latest trades, software applications and government regulations that can work for your company so that you can remain competitive. Watch for sudden market changes that can affect your daily operations as well.

I recommend: Business Exchange provides regularly daily news updates and forums that cover the industry. Follow the markets and compare online brokers at CFD Spy.

Read articles that cover online broker news and trends in detail

Subscribe to reports that cover the industry further than the headlines. Watch the trends driving developing industry issues, such as coverage of emerging software developments and new marketing techniques that are being used successfully. Consider the advice of industry experts with proven track records and read features that present leaders in the trading industry and profile their strategies.

I recommend: Congoo brings readers hourly updates and trend reports so that you can stay on top of the market. Sign on for specific industry-specific financial news for online brokers at NABOU.

Join online brokerage groups that give members a broader information network

Online brokerage associations put you in touch with other trading professionals who can provide you with an inside track to news that they have read about. Take advantage of the opportunities to attend trade shows where the latest software applications and website developers can be accessed in one place. Attend conferences that can provide members with valuable market information and new ways of trading by showcasing industry leaders and expert analysts.

I recommend: Keep up with news for and about members of the National Futures Association while you make the connections that could be just as valuable to your business. News, trend reports and important feature coverage is available on the website for the Securities Industry and Financial Markets Association.

Tips & Tactics

Helpful advice for making the most of this Guide

• •  Find a reliable source to keep up with news about emerging online broker software.

One of the many ways people can invest in the stock market is by using online brokers. Advanced and beginner investors can take control of their investment portfolios through these self-service accounts. There are many terms associated with online brokers that are essential to learn prior to investing. For example, an investor will need to determine if he wishes to open a cash account or a margin account. Investors must weigh their risk tolerance and consider various aspects like limit order and options investing.

Action Steps
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Cash account

A cash account is a type of trade account offered by many online brokers. Investors can only use the cash they have in their accounts.

I recommend: The North American Securities Administrators Association provides more information about a cash accounts.

Margin account

An alternative option to the cash account is the margin account. The brokers offer a line of credit to be used to purchase securities using their brokerage services. The funds are based on collateral.

I recommend: Investopedia offers more information on margin account brokerage accounts.

Options

Option investing is popular in many online brokerages. An option is a contract to buy or sell a specific product. The product varies, but is called the underlying instrument or underlying interest.

I recommend: The Options Industry Council provides more information in their thorough review of options investing.

Limit order

A limit order is very helpful to investors who are investing in the worldwide marketplace, which operates virtually 24 hours a day. This allows an investor to avoid buying or selling an investment at a price that is too high or too low. It is an option provided by most online brokerage services to manage accounts.

I recommend: The U.S. Securities and Exchange Commission provides more information on limit orders, including how they are used.

Term treasury mutual funds

Term treasury mutual funds are a type of investment often able to be traded using online brokers. The U.S. Treasury issues the Treasury note, which is held within the term treasury mutual fund.

I recommend: The Saturday Evening Post provides more information on term treasury mutual funds and other mutual funds investors can utilize.

Investment risk, risk tolerance

Every investor needs to find their comfort level in investment risk. Often called risk tolerance, this term is used to establish the limitations an investor places on the amount of risk he or she is willing to take.

I recommend: Entrepreneur Magazine provides an article on investment risk and risk tolerance measurements.