what is broker work?

[Omer Afzal]

hello to all my friends, family, and seniors and also juniors..

i want to ask with you all simple question, please guide me and make my mind clear.
who is broker? and what work he do? and how can i make myself a broker?

[waryal1984]

A broker is an individual or firm that charges a fee or commission for executing buy and sell orders submitted by an investor. A broker also refers to the role of a firm when it acts as an agent for a customer and charges the customer a commission for its services. This whole process was revolutionized by the paradigm shift caused by the internet.

[gunarko]

hello to all my friends, family, and seniors and also juniors..

i want to ask with you all simple question, please guide me and make my mind clear.
who is broker? and what work he do? and how can i make myself a broker?

who is the broker?
broker is a company as an intermediary between traders and the money market, they take profit from the difference in transactions, commissions and spread from every trade in forex investment

Brokerage job?
The broker has the job of arranging the entry and exit of your funds when you deposit and withdraw on the capital market

how do we become a broker?
sorry for this question I can't answer it because the broker clearly has to be regulated and supervised by the world investment agency. I do not have a large fund to make a brokerage company

[Caprice]

Brokers are usually companies or entities which offer a platform for people or other companies to invest and trade in different trading instruments. These can be shares, forex market currencies, indices, commodities etc. If a company mainly focuses on offering share trading, it is known as a stock broker whereas those which offer currency trading primarily are called as Forex Brokers. This forum’s sponsor is a forex broker known as Insta Forex.

[bappy4x]

In my 10 years of forex career I have used only instaforex whereas instaforex is such kind of broker who are making traders on the market. Did you tell me one broker who are making traders like instaforex through different promotion and bonus?

Yeah! Its right now 2 years ago, i was switched to exness but because too much volatile and higher spread i have backed on instaforex again. Long live instaforex.

[Greta]

Brokers are usually companies or entities which offer a platform for people or other companies to invest and trade in different trading instruments. These can be shares, forex market currencies, indices, commodities etc. If a company mainly focuses on offering share trading, it is known as a stock broker whereas those which offer currency trading primarily are called as Forex Brokers. This forum’s sponsor is a forex broker known as Insta Forex.

Yes, you are right. What I have noticed is that if a broker offers a diverse range of trading instruments for its clients, it attracts a very high number of traders. Insta Forex is one such example. The reason it works like this is the fact that it can cater for traders who have different priorities. Some prefer to trade currencies where as others prefer only crude oil for example. So if a broker was only offering currency instruments for trading, people tend to ignore them if they prefer to trade only commodities.

[Oriana]

As many people have already answered the question about the basics of a broker and how they operate, I will touch on the last part of the thread starter’s question i.e. how one can become a broker. Well in terms of starting a brokerage firm, there are a number of requirements that one needs to fulfill. These vary from country to country but the most common ones include a very decent capital amount, actual office locations in various countries, a good trading terminal like MT4 and in countries which require proper regulation/licenses, segregated accounts to ensure the safety of client’s funds. I think if one fulfills all these requirements, they can start their own brokerage firm.

[Caprice]

Yes, you are right. What I have noticed is that if a broker offers a diverse range of trading instruments for its clients, it attracts a very high number of traders. Insta Forex is one such example. The reason it works like this is the fact that it can cater for traders who have different priorities. Some prefer to trade currencies where as others prefer only crude oil for example. So if a broker was only offering currency instruments for trading, people tend to ignore them if they prefer to trade only commodities.

Well its not only about the number of different trading instruments on offer. A broker can have 100 different trading items but if they have very wide fluctuating spreads or slippage in order execution, it will lose their client’s trust. The overall reputation of the broker matters as well. For instance, people also care about how reliable a broker is in terms of the number of years they have been operating and how quickly they process their withdrawals etc. In a nutshell, a good broker is one with diverse instruments on offer, reasonable spread and good reputation.

[Earie]

Well its not only about the number of different trading instruments on offer. A broker can have 100 different trading items but if they have very wide fluctuating spreads or slippage in order execution, it will lose their client’s trust. The overall reputation of the broker matters as well. For instance, people also care about how reliable a broker is in terms of the number of years they have been operating and how quickly they process their withdrawals etc. In a nutshell, a good broker is one with diverse instruments on offer, reasonable spread and good reputation.

You have got a very good point here Caprice. Its not only about the number of trading instruments a broker offers but it actually is one of the prime factors in selecting a broker for the people I have dealt with. There are a lot of other factors too as you have mentioned. I can think of fees on withdrawals and deposits as well as the maximum leverage a broker offers as well. I have seen people going for brokers offering 1:1000 leverage as compared to brokers which only offered a maximum of 1:200 leverage but had a better reputation. So choosing a good broker is a decision based on a number of different attributes.

[Dinara]

A broker is someone who offers an opportunity to both the buyer and seller to transact and they make a profit from this transaction. Forex broker is someone who connects Currency buyers and sellers. A real state broker connects a house seller and a house buyer. A stock broker does the same for share trading and so on. It depends upon what context you are asking about a broker. There job involves ensuring that the availability of their platform and the information they provide is up to date.