Agricultural Careers

Commodities Broker

By: Dr. Frank Flanders and Trisha Rae Stephens

Georgia Agricultural Education Curriculum Office

Georgia Department of Education

June 2005

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Job Duties & Responsibilities

• Track the world markets for changes • Carry out trades for the client• Advise clients on the position of the market• Seek out potential clients• Maintain account balances and financial records

Qualities and Skills

• Those on the floor of the exchanges must be able to stand for extremely long periods of time

• Be capable of handling stress

• Detail oriented and analytical

• Strong Communication skills

• Must be confident, driven, and aggressive

• Should be persistent and disciplined with ability to make quick, reasonable judgments.

Salary

Most brokers are paid a base salary plus a commission. Brokers are paid a commission based on the number of clients they recruit and the amount of money they make. A newly hired employee in a brokerage firm would

average around $1,500 a month plus 30% commission. Commission earnings rise and fall with the changes in market activity. The median

annual earnings of securities, commodities, and financial services sales agents were $60,990 in 2002. The middle half earned between $36,180

and $117,050.

Work Environment

• Offices• Indoors

• Traveling maybe necessary • Exchange floor for some traders

Becoming a Commodities Broker

• Take college preparatory classes in high school including history, math, science, agribusiness and business education classes. • Visit one of the futures exchanges or explore them online, so that you can see how the markets are run.• Subscribe to an industry newsletter or magazine • Work a part time job in a brokerage or investment firm

Career Resources

Commodities Future Trading CommissionThree Lafayette Centre1155 21st Street, NW

Washington, DC 20581 Internet: http://www.cftc.gov

Futures Trading Association2001 Pennsylvania Ave., N.W., Suite 600

Washington, DC 20006Internet: http://www.futuresindustry.org

National Association of Securities Dealers, Inc.1735 K Street, N.W.

Washington, DC 20006Internet: http://www.nasd.com