If you are curious about what a stockbroker does, you have come to the right place. In fact, a stock broker is a sales agent who trades securities on behalf of his or her client. These professionals earn a commission on each trade. Stockbrokers also offer advice to their customers on opening and closing stock prices. This read provides information on what does a stockbroker do.
Read This To know How to Trade Yourself
A broker begins his or her at around 7.00 or 7.30. They will start with researching the market and responding to client emails. Once the Stock Exchange opens, the broker starts buying/selling shares on behalf of his/her clients. The New York Stock Exchange is one of the busiest trading floors in the world. It is quite fast-paced and becomes chaotic by 10.00 in the morning. By about 10.30, the level calms down, and trades are made by software and algorithms between 10.30 and 3.30pm in the afternoon. But most of these algorithms are controlled by stockbrokers who have to input information such as the opening prices and the number of shares of these robots.
Brokers income is solely dependent on the commissions he or she earns. Hence, their salaries may depend on how they persuade their clients and perform their jobs. That is why good salespeople become better stockbrokers compared to people who are savvy financial analysts. The role of a broker has become quite sophisticated in this day and age. That is why it is important that you have a good knowledge about what a stockbroker do before deciding to work with one of them.
In conclusion, a broker buys and sells stocks on behalf of his/her clients. Their salaries solely depend on the commissions they earn through such work. This read offers information on what does a stockbroker do.