What You Should Know Before Becoming A Broker
With the increasingly advanced stock investment, it might attract people who want to dive into the world of the stock market. Not just being a buyer, being a broker may be the right profession for those of you who enjoy the field of stock investment.
For those of you who are interested in becoming a broker, learn it here!
What Is a Broker?
Before we discuss further, we will need to know the definition of a broker. So, Broker is a profession that can be done by individuals or companies whose job is to act as a liaison between investors and securities.
Types and Duties of Brokers
For those of you who are interested in becoming a broker, below are several types of brokers that you can work as:
1. Retail Brokers
In this type, you will help retail investors and get a commission from each transaction requested by the customer.
2. Full-Service Brokers
For this type of broker, you will get a fairly large commission. This happens because you have to provide full service, starting from providing information, managing investor accounts, providing analysis reports, and carrying out requests from investors.
3. Deep Discount Brokers
Deep Discount Brokers will give you a relatively low commission, because you will only carry out fairly simple activities, namely buying securities according to investor requests.
4. Discount Brokers
The commission offered by this type of broker is slightly higher than Deep Discount Broker, because in this type you will be asked to make an analysis report as a form of advice to investors.
5. Online Brokers
With advanced technology, the world of investment can also be run digitally. There are currently online Brokers that can make it easier for you to work.
Broker’s Salary
The salary of a broker can be quite high. Because apart from getting a basic salary from the company where you work, you will also get a bonus according to the length of time you have worked for one year, as well as a commission for every transaction you make for investors.
Requirements
Here are certain requirements to become a Broker you should know :
1. Able to Read Market
Your duties are to provide advice to investors, your ability to read market situations are highly expected in this field.
2. Service Oriented
Becoming a Broker requires you to have good communication skills and be contactable easily. If not, it could cause some miscommunications with investors.
3. Supporting Tools
Make sure you have all the tools you need such as a stable internet connection. It is important to monitor market conditions in real time.
Pros and Cons of Being a Broker
Each job certainly has its pros and cons, below are some of the pros and cons of being a broker:
1. Pros
– High Salary
– Keep up to date with the state of the capital market
– Can help investors to invest in the best securities
2. Cons
– Must be fast response
– Must be available whenever investors need you
– Must work all the time
Closing
That’s some information that we can convey about the profession of a broker, I hope it’s useful. If you are looking ways to earn money, make sure you check other articles from us.
