Futures Brokers

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Funnily enough, commodity brokers deal in physical commodities. Essentially, these expert traders broker commodity contracts on behalf of companies.

Typically working for investment banks, clearing houses and broking companies, they trade financial derivatives based on commodities such as oil, gas, metals and food products. On a day-to-day basis, commodity brokers are responsible for commodity brokers and traders international markets, conducting research and keeping up-to-date with the latest financial news. They then get stuck into trading commodities for their clients.

Commodity brokers also provide expert advice to their clients, as well as implementing hedging strategies for them. Furthermore, commodity brokers spend a large part of their time visiting suppliers, meeting with clients, and overseeing logistics arrangements for them.

Finally, they are also responsible for building relationships with potential clients and developing new business opportunities. Brokers are also usually given sizeable bonuses and commission payments based on performance. Aspiring commodity brokers should be ready for a career with lots of stress and pressure. Expect early starts and late finishes. Different markets operate at different times, and this will therefore have an impact on your specific working hours.

Investment banks, commodity broking companies and clearing houses only tend to recruit the very best graduates. Candidates with a degree in any subject can enter this line of work. If you study a relevant subject, such as business studies, economics, maths, statistics, operational research or accounting, you may stand a better chance of securing an entry-level position. Completing an internship or work experience placement with an investment bank commodity brokers and traders clearing house is a great idea, and pretty much essential for entry into this competitive area of work.

Many commodity brokers start their careers as part of a graduate scheme. These training programmes tend to last around two years. If you are accepted onto a graduate scheme, the majority of your training will be done whilst on the job under the supervision of senior brokers. You commodity brokers and traders also have the opportunity to attend in-house training sessions from time to time.

Commodity brokers must be registered with the Financial Services Authority before they can start trading, which means passing a number of exams. As you gain more experience and move up the career commodity brokers and traders, you will become an associate and then a senior associate.

Some people eventually move into director-level roles. The international nature of trading means that you may also get the opportunity to work abroad at some point in commodity brokers and traders career. What about all the good times we shared? Ok, before you go, just tell us one thing…. Cancel account I've changed my mind. Working hours Aspiring commodity brokers should be ready commodity brokers and traders a career with lots of stress and pressure.

You may also be required to travel internationally from time to time. Entry Investment banks, commodity broking companies and clearing houses only tend to recruit the very best graduates.

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A commodity broker is a firm or individual who executes orders to buy or sell commodity contracts on behalf of clients and charges them a commission. A firm or individual who trades for his own account is called a trader. Commodity contracts include futures , options , and similar financial derivatives.

Clients who trade commodity contracts are either hedgers using the derivatives markets to manage risk, or speculators who are willing to assume that risk from hedgers in hopes of a profit.

Ever since the s, the majority of commodity contracts traded are financial derivatives with financial underlying assets such as stock indexes and currencies. When executing trades on behalf of a client in exchange for a commission he is acting in the role of a broker.

When trading on behalf of his own account, or for the account of his employer, he is acting in the role of a trader. Floor trading is conducted in the pits of a commodity exchange via open outcry. A floor broker is different than a "floor trader" he or she also works on the floor of the exchange, makes trades as a principal for his or her own account.

IBs do not actually hold customer funds to margin. They advise commodity pools and offer managed futures accounts. CTAs exercise discretion over their clients' accounts, meaning that they have power of attorney to trade the clients account on his behalf according to the client's trading objectives. A CTA is generally the commodity equivalent to a financial advisor or mutual fund manager.

A commodity pool is essentially the commodity equivalent to a mutual fund. This is the commodity equivalent to a registered representative. From Wikipedia, the free encyclopedia. Retrieved from " https: Commodity markets Commodities used as an investment Brokerage firms. Views Read Edit View history. This page was last edited on 9 February , at By using this site, you agree to the Terms of Use and Privacy Policy.