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went down to Philips securities today to listen to the remisier career talk. Just wondering is it really a career to consider? Any bro willing to advice? I dont want to start anything haphazardly.thx
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Positve side :
If you have a fair bit of clients on hand. ( why not )
Negative side :
Most people goes online trading ( lower transaction fees )
More convenient
Neutral side :
It would be good to try as an exposure ?
Perhaps you can gather more advise from other regular traders here in ROC. Good luck ! -
u need to be very careful when trading.
i know of a remiser who was suppose to buy shares, went to sell them instead. pay the client 5 digit figure in compensationif you have issues with your account, click here for self help and read forum rules here. 90% of your answers can be found in Forum FAQ
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kindly email with- subject heading indicating your issue
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disclaimer : all opinions expressed are personalComment
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Earn a lot of money....
Example: Peter Lim (Remisier King)Comment
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That is only one success story in many many failures. I have seen many dealers and remisiers leave the industry.Originally posted by KuchingKu View Post
I had heard many stories about remisiers losing alot of money as well. Cos as a remisier, you would need clients to sustain your income. Without clients, many remisiers will start to trade themselves and many had burnt their fingers. In the stock market, i believe that everyone would need to be burnt once to gain the experience. Alll my colleagues here agreed that if a client never loss money in the mkt before, then we would need to monitir his risk and limits.Comment
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thats true. The sum range from S$10 to few thousand dollars. Personal record, S$4000 in a day due to error trade.Originally posted by triton View PostComment
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Its best to start off as a dealer so that you can have a fixed income in the beginning. Thats how i started off few years back. as a remisier, no fixed income.Originally posted by MorganOng View PostComment
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Its best to start off as a dealer so that you can have a fixed income in the beginning. Thats how i started off few years back. as a remisier, no fixed income.Originally posted by MorganOng View Post
As a dealer, you do not need to furnish S$30k deposit but as a remisier, you would need to furnish S$30k deposit to the company, at least. But for higher limits, you can give as much as you want. S$30k only gives you S$1 mill to buy and 1 mill to sell. If your clients are many and volume goes above that, you would need to furnish more money.
Another thing is that as a dealer, you would only need to bear 50% of clients' losses if they default. But as a remisier, you would need to bear 100%. As such its better to start off as a dealer to learn about risk mgt of clients.mMy record losses so far from clients' is about $60k.
One thing to note is that regardless of dealer or remisier, there are no career advancement or prospect. 20 years later, you are still a dealer or remisier. But this job can be very exciting. Think about all the pros and cons like any other career move.
Hope the above helps.
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Haha....like Fandi Ahmad. For every FA, there are thousands of those who gave up studies and never made it to the National Stadium field.Originally posted by sportee View PostComment
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Got no career advancement meh? How about be team leader of dealers/remisier?Originally posted by sportee View PostIts best to start off as a dealer so that you can have a fixed income in the beginning. Thats how i started off few years back. as a remisier, no fixed income.
As a dealer, you do not need to furnish S$30k deposit but as a remisier, you would need to furnish S$30k deposit to the company, at least. But for higher limits, you can give as much as you want. S$30k only gives you S$1 mill to buy and 1 mill to sell. If your clients are many and volume goes above that, you would need to furnish more money.
Another thing is that as a dealer, you would only need to bear 50% of clients' losses if they default. But as a remisier, you would need to bear 100%. As such its better to start off as a dealer to learn about risk mgt of clients.mMy record losses so far from clients' is about $60k.
One thing to note is that regardless of dealer or remisier, there are no career advancement or prospect. 20 years later, you are still a dealer or remisier. But this job can be very exciting. Think about all the pros and cons like any other career move.
Hope the above helps.
Ok, or become Remisier King and branch into property/consultancy.Comment
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Team leader also career? Career i believe means moving up the coporate ladder... a dealer to a team head... and then?Originally posted by KuchingKu View Post
My good old fren just retired at the age of 57, told me this before he left, 27 years ago, he was a dealer, 27 years later, he's still a dealer, though he heads the Japanese mkt. Words from someone in the industry for the past 27 years.
As for remisier king, i believe he never sees it as a career but a business...Comment
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Well,Originally posted by sportee View Post
In this industry, there are those who barely survive and there are some who just need to take care of clients orders and make so much that they do not want anymore clients as it will increased their incomex tax,
my broker is told me that his partner sitting next table to him just need to answer phone and his income is minimum 4 digits daily,
well, this show that you need just a few big big fish to be successful in stock broking.Comment
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because Im doing part time degree at SIM now, want to find a job in the finance sector, but it's very hard because my diploma is not related to the field. Remisier is one of the few option open to me. As for dealer, minimum requirement is a degree holder. If let's say my dad and his client trade stocks frequently, is it ok for me to start off as remisier given the connection? Is it really so risky to be a remisier? What if I start off as a remisier first then switch to a dealer upon getting my degree, is it possible? As for career advancement, is it possible for me to advance up to consultant job and banker upon getting my degree, or even financial analyst. Please someone please help me!!!!Comment
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Please correct me if I am wrong...Originally posted by MorganOng View Post
There are many kinds of bankers...it depends on which section of the bank you are in. There are those who are on the consumer side which may not be very exciting.
There are the private bankers...which are seen as probably the high rollers of the bank. To qualify you need to bring in the big fishes into the company.
Sometimes forgotten, but always contactable. Darkangel (2007-2014)Comment
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