Brokers deal in commodities, stocks, shares and foreign exchange on behalf of clients or on own account, broker insurance and reinsurance, and buy and sell shipping and freight space.
Current Entry Requirements
There are no formal academic requirements although many employers require entrants to possess a degree or equivalent qualification. Training is typically undertaken in-house, although entrants may attend courses run by professional institutions. Registration with a regulatory authority may be required in some positions.
Typical education level:Level 4-6
- Advises client on the suitability of particular insurance schemes and places insurance on behalf of client.
- Discusses buying and or selling requirements of client and gives advice accordingly.
- Analyses information concerning market trends for commodities, financial assets and foreign exchange and advises client and employer on the suitability of a particular investment.
- Records and transmits buy and sell orders for stocks, shares and bonds and calculates transaction costs.
- Provides independent advice on the suitability of insurance schemes and places insurance on behalf of client.
- Arranges for the production of auction catalogues, fixes reserve prices, attends auction and bids on behalf of client, or negotiates purchase/sale by private treaty of goods not sold at auction.
- Obtains cargo space, fixes freight charges and signs and issues bills of loading.
- Collects freight charges from client and undertakes all necessary formalities concerning customs and the loading/unloading of cargo.