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.
- 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.
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.