Membership Categories

The Chartered Institute of Stockbrokers  is the leading professional body for Securities & Investment practitioners. About 2,000 members currently benefit from our professional programme of events, with continuing professional development (CPD), at the heart of the Institute’s values and policies.

There are five categories of CIS membership. These are Student, Graduate, Associate, Honorary Fellows and Fellows.


Student membership is the entry level position for individuals who want to be stockbrokers and are undertaking CIS qualifications. Student membership confers eligibility to sit the CIS exam. Student members cannot hold office or vote in the Council election.


Graduates are individual students who have successfully completed our examinations or equivalent but have not satisfied the conditions for admission as associates into the full membership grade of the Institute.

While Graduates may participate in some activities of the Institute, they cannot hold office or vote in the Council election. Graduates are not entitled to use any designatory letter.

Associates (ACS)

Associates are the first level of full members who are authorised to use the designatory letter of ACS which stands for Associate of the Chartered Institute of Stockbrokers.

Associate membership is granted to individuals who have completed our examinations or equivalent and have at least three years relevant experience in the financial services industry, one of which must be after completing the examinations.

Honorary Fellows ( FCS (Hon.))

Individuals who, in the opinion of the Council of the Institute, have distinguished themselves and made immense contributions to the profession of the securities and investment industry may be awarded Honorary Fellowship status.

Fellows (FCS)

Fellowship status is our highest category of membership. Associates of at least five years standing may be elected as Fellows, subject to other requirements for Fellowship determined from time to time by the Council.

To practice investment and stockbroking in Nigeria, you need to be a CIS Associate or Fellow.

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