Commodity Broker

Did you know that a commodity broker could make $70,000 a year, but possibly even more?

If you were interested in making that much money, you should look into becoming a commodity broker. But what do they do, and how do you become one?

Keep reading to find out all you need to know!

What is a Commodity Trader?

A commodity trader is someone who sells and buys commodities. These commodities could be anything like natural gas, agricultural products, gold, oil, produce, or any other trading goods.

They’ll usually make decisions based on fluctuations in the market, economic trends, or other opportunities that arise.

Their main job is to monitor the international market, buy and sell for their client, provide investment advice, analyze markets, and develop investment and buying strategies.

They may also have to travel internationally to find new business opportunities that they could come across.

Normally, you’ll need a bachelor’s degree in business, economics, or finance to hold this job. You’ll learn all about trading techniques, international trading, and market conditions.

How to Get a License

If you want to find business as a commodity broker, you’ll have to be certified through the National Futures Association (NFA). They oversee all the licensing.

You’ll have to study for this exam, and it will help if you have an internship or entry-level position as well. If you do have a position, they’ll have to sponsor you to take the exam.

You can contact HR and ask for all of the necessary paperwork to fill out to send in. You may also need to provide a fingerprint.

To get your license, you’ll have to pass several sections of the exam. The first section will test how much you know about commodity trading, exchanges, and other aspects you’ll need to know.

The second part will test you on the rules and regulations that govern commodity trading. If you complete and pass the test, then you’ll have to pass an FBI background check.

How to Find a Job

After you pass your background check, you will need to find a job at a firm that is registered with FINRA. This is a firm that manages commodity brokers.

You’ll then contact the National Futures Association. They will tell you if your test results and all your paperwork have been completed. If they haven’t, you’ll need to provide any documents that haven’t arrived.

When you become a commodity broker, you may also want to look into a membership that will help you throughout your job.

Learn More About How to Become a Commodity Broker

These are only a few things to know about becoming a commodity broker, but there are many more steps to consider.

We know that switching careers can be stressful no matter what, but we’re here to help you out.

If you found this article enjoyable, explore our website to find even more great options!

By Sambit