Usually a commodity futures broker would be a highly quantitative and specialized individual. Most get directly hired out of top MS Financial Engineering, MS Engineering or MBA programs in top business/engineering schools (think MIT, Columbia, UPenn Wharton) and goes through extensive training in quantitative finance and mathematics both in school and on the job itself.
The earning potential is enormous. New grads usually start at the associate level and earn about 200-300K their first year. However, later on the bonus (which really is the meat of the compensation package) is entirely dependent on performance, and multimillion dollar bonus for top traders are not unusual at all. It's not an exaggeration to say "sky is the limit" when it comes to pay, as long as you are good.
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I want trusted brokers please.
You can be able to purchase futures contracts from any online broker.
The legal requirements, and logical, is to have enough funds in your account to cover any downturn. Otherwise if the contracts fall even 1 cent they can, and will, close them out.
In the middle of changing careers. Working to earn my Series 3 certification to broker futures. I'm VERY excited to get into this new career. Found an opportunity with a brokerage that is expanding in my area.
Interviewed with the guy, seemed really straight forward. Wasn't pressuring me, nothing I have to do on my end to get started...He preached ethics big time, explained some of the schemes some people will pull to bring in big commissions, he's completely against those methods. He mentioned that he had a customer at a previous brokerage he worked at file a complaint against him. He siad it was a really bad experience, the guy said he told him something he never told him, etc.
Searching the net, found the case on the NFA's website. He was found guilty, and his punishment was a $5,000 fine, and 3 months suspension.
Should I even think twice about getting involved with this guy? How do I research this to make sure it is really going to be a good opportunity?
TIA
Thank you Dom. Yes I would be doing my own work. I would be working from home, the brokerage has a pretty decent IT network setup, so you can get into the network from home and do everything that way.
No I don't see what happened affecting me in any way. When we met, he made Ethics a big priority with him, he made that point repeatedly. He was also pretty straight forward about the earnings potential...i.e. you're not going to get rich overnight, you have to do lots and lots of homework to make it, expect to make about 60-70k average tops maybe 120k, he even went so far as to say you can make more than that but then you're likely not doing things for the benefit of your customer and won't be able to feel good with yourself when you go to bed at night.
He also said the brokerage he was involved with was shady, and from what he said before I found this, he did seem like he kinda just got caught up in something. I just don't know if this is some unheard of thing, or fairly common?
Sure. You can go with him but I would want more money than what another place would offer you. I am sure that he realizes that he has to pay more too. The nice thing is that he told you up front. To me it seems he might not be a bad guy, he just maybe made a mistake or was caught in a bad situation.
Really it shouldn't affect you that much. But I can't really say since I don't know what exactly he did but how would his actions affect you as a broker? You will be doing your own work, right?.
i mean comex nymex gold silver copper and crude oil futures
Icici Direct deals with commodity in India along with leading share brokers,. Contact them and receive accurate advisory.
i assume the brokerage i am with also deals in the metals...
contact RJ O'brien in Chicago
Susan
Gold Stabilizes Following Monday’s Polytechnic Setback
Gold is after a short time consolidating around our 2nd order uptrend line after experiencing a dependable down-bar backed by a pop in supply on Monday. Gold’s late-model affection came in revenge to a stronger Dollar, principally against the EUR/USD. We attend to the AUD/USD is drifting reduce as well, and this is a 'No' hieroglyph for gold account it has exhibited a stronger arbitrary correlation with these two significant crosses. Meanwhile, the S&P futures have dropped below our formidable 1st rank uptrend words and are soon testing their subjective 1050 supine after New At ease Sales printed negatively. The S&P’s lessen below our 1st series could recommend a retracement towards former October lows and the psychical 1000 precinct. Any extended preference in U.S. equities of this mould would proper abandon a stronger Dollar due their dogmatic correlation, and therefore weaker gold. All eyes will be on tomorrow U.S. Aid GDP facts. Therefore, investors should keep a parsimonious eye in the S&P’s interaction with our aforementioned technicals and their revenge to econ details.
Technically speaking, gold has our 1st range uptrend sign up and 10/6 lows to subside back on along with the importantly cognitive $1000/oz section should the markets take a employ block for the worst. As for the topside, gold is creating some new topside barriers as the adored metal heads south, commencement with 10/6 and 10/7 highs as well as the cognitive $1050/oz devastate.
Contemporary Value: $1036.05/oz
Resistances: $1043.60/oz, $1046.91/oz, $1049.98/oz, $1053.76/oz, $1058.26/oz
Supports: $1036.03/oz, $1032.01/oz, $1029.41/oz, $1024.44/oz, $1018.53/oz
Intellectual: $1050/oz, $1000/oz.
FastBrokers’ market commentary is provided...
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