Qualifications/Exams before becoming a trader

Hello everyone, today I was talking about becoming a trader with my father and he told me about a qualification or a test was supposed to be passed. I immediately thought from SII but I am not informed well either. He mentioned something called IMRA but wasn't sure about the name. A search on IMRA didn't come up with anything so I decided to ask you guys.

Is there any specific qualification/exam that is required to be taken before becoming a trader?

Reply 1

FHM

Need to pass the regulation exam from SII to become an approved person under FSA. Will also need to sit securities and derivatives exams depending on the product your trading.

Reply 2

roussell

SIIs... definitely FSA Financial Regulation, then probably Securities, Derivatives and Investment & Risk. 4 exams, each around 2 hours long, multiple choice, 70% pass mark.

Reply 3

RedKnight

Note that there's absolutely no need for you to obtain these qualifications on your own accord before applying for a a trading position. You're much better off spending all that time running your own book and networking, rather than sitting for FSA exams.