Welcome to Trading Broker Guide at Trading Broker dot org!
Trading Broker Article
. For a permanent link to this article, or to bookmark it for further reading, click here.
Commodities Trading Broker
from:You can be in a much more expert field as a commodities trading broker than as an authorized securities representative or stock broker. Currently, there are over 663,000 recorded securities representatives. Meanwhile, for authorized commodities trading brokers recorded, there are approximately 53,000. A lot of people these days know how to purchase mutual funds and stocks on the Internet. However, what a lot of them do not know is how to buy and sell commodities. Thus, there will always the need for the help of a commodities trading broker.
Like with most of the other careers, you might wish to know answers for the two following questions:
- Will you take pleasure in working for the futures industry?
- And, how much money will you earn?
It is without a doubt that you can earn a nice living as a commodities trading broker. However, you need to be great at it. You may most probably take pleasure in working as a commodities trading broker if you possess a strong interest in commodity trading and if you are a rather respectable salesperson. Because you need to develop a book of business and open accounts, sales are clearly involved.
How do you become a licensed commodities trading broker? This career needs each broker to be registered and authorized with the NFA or National Futures Association. The title you will be aiming for is an Associated Person. You may be necessitated to take and pass the test called Series 3. You should not mistake this with Series 7, which is utilized for stock brokers. The test will have two portions. The first portion would include questions that can check your knowledge on options, orders, futures contracts, hedging, the futures market, and almost everything that is involved with trading. You can obtain an outline form for the examination at the NFA.
The 2nd portion of the examination to become a commodities trading broker will cover the regulations and rules. You should not take this portion lightly. It involves matters of proper client treatment. Your brokerage company must have study guides for you and there are a lot of study courses available on the Internet. Then, you will have to full up an 8R form. Basically, this gives them the record of your life. It would include your housing history for the past five years and your job history for the past ten years. It also includes your criminal record as well as any penal acts if you have been authorized in other financial careers.
You need to go through all these because you may have to undergo an FBI background check prior to being given an impermanent license as a commodities trading broker. You may also have to be fingerprinted, typically at the local police office.
Before you go into this long procedure, you must have a place to work in. A lot of stock brokerage companies do not sell commodities. Thus, you need to search for a company that focuses on commodities. Typically, such companies are called IBs or Introducing Brokers.
Trading Broker News
Broker tips: RBS, Capita, Logica
Nomura has maintained its reduce rating and 26p target price for part-nationalised lender Royal Bank of Scotland (RBS), saying that while the group's full-year results were broadly in line with expectations, ...
Read more...Broker snap: Prime Markets optimistic about Capita
Prime Markets recommends to buy outsourcing firm Capita saying that it expects the stock to performing strong in the coming weeks.
Read more...Broker snap: Consensus downgrades in pipeline for RBS, says Nomura
Nomura has maintained its reduce rating and 26p target price for part-nationalised lender Royal Bank of Scotland (RBS), saying that while the group's full-year results were broadly in line with expectations, ...
Read more...Broker snap: UBS ups target for Logica but challenges remain
UBS has hiked up its target price for business and technology service company Logica by 41 percent from 64p to 90p but maintained its neutral rating on the stock, saying that 'structural issues remain'....
Read more...Download Forex Trading App for iPhone, BlackBerry and Android from Vantage FX
LONDON, February 22, 2012 /PRNewswire/ --The Vantage FX UK ( http://www.vantagefx.co.uk/ ) trading platform is now available on iPhone, BlackBerry and Android for Forex traders who want to manage their ...
Read more...The Basics of How Money is Made Trading FX
The Basics of How Money is Made Trading FX
Read more...Broker tips: Admiral, Petropavlovsk, Aberdeen Asset Management
Credit Suisse has upgraded its rating on Admiral from neutral to outperform ahead of the insurer's full-year figures on March 7th.
Read more...