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Becoming a Stockbroker

How to become a Stockbroker

In order to become a qualified Stockbroker you have to pass the Stockbroker exams set and administered by SAIS. To obtain the designation “Stockbroker” you have to meet the fit-and-proper requirements of SAIS and apply for and retain membership of the professional body. Membership of SAIS requires the payment of annual membership fees and adherence to the SAIS Code of Conduct.

Learning Programme & Exams

Entry Requirements

A person who meets any of the following entry requirements may enter for the Stockbroker learning programme and/or exams.

  1. A Bachelor of Commerce (Honours) or B Com degree in Investments, Accounting or Economics

  2. Chartered Accountant (South Africa) [CA (SA)]

  3. Chartered Financial Analyst [CFA]

  4. Any other degree AND the one-year SAIS recognised course “Programme in Investment Analysis and Portfolio Management” offered by UNISA

  5. Any other degree AND who has written and passed or has been granted exemption from all of the following SAIFM Registered Persons examinations:

  • Introduction to the Financial Markets
  • Regulation and Ethics of the South African Financial Markets
  • The Equity Market
  • The Derivatives Markets
  • The Bonds Market
    1. Passed or has been granted exemption from all of the following SAIFM Registered Persons Examinations:
  • Introduction to the Financial Markets
  • Regulation and Ethics of the South African Financial Markets
  • The Equity Market
  • The Derivatives Markets
  • The Bonds Market
  • JSE Settlement Officer
  • JSE Compliance Officer
  • JSE Registered Securities Trader
    1. The Postgraduate Diploma in Financial Markets (University of Johannesburg)










    The learning programme

    The learning programme consists of five comprehensive and focused modules that aim to prepare practitioners for a career in stockbroking. The modules focus on best practice and aim to promote professionalism, integrity and credibility. The modules are:

  • Finance

  • Investment Advice and Portfolio Management

  • Taxation

  • Rules I

  • Rules II
  • The syllabi are made available to candidates once they have registered for the exams. The syllabi outline the learning outcomes against which candidates will be assessed in the exam.

    In order to receive study materials, candidates have to register for the respective courses. The study materials consist of any combination of: references to prescribed text books and publications, study notes, lectures, practical examples and exercises. In some instances lectures will be available online. Others are offered in person in Johannesburg. The attendance of lectures is not compulsory but it is highly recommended. Students who register for the courses will also have access to lecturers if they have specific questions or problems related to the course content.

    Please note that study materials are revised on a continuous basis and that old study materials may no longer be sufficient to prepare candidates for the exams.

    Exemption from examinations may be granted if a candidate is qualified as follows:

    1. Exemption from the Investment Advice and Portfolio Management examination
    2. A person who is a fully qualified Chartered Financial Analyst (CFA), (but not to anybody who has only passed one or two years CFA); or a B.Com Honours (Investments), with the appropriate majors.

    3. Exemption from the Finance examination
    4. A person who is a fully qualified CFA; or a fully qualified Chartered Accountant (South Africa) CA (SA); or has an accounting degree with Accounting III.

    5. Exemption from the Taxation examination
    6. A person who is a fully qualified CA(SA); or has an accounting degree with Taxation III.