Anyone ever been a Commodities Broker???

Discussion in 'Professional Trading' started by Finance Grad., Jul 11, 2006.

  1. Not sure I'm in the right forum here, but here goes: Right now I have a chance to be a commodities broker for Lasalle Futures Group in Chicago (CBOT). Its all commision and they say theres a lot of potential to make a lot of money. I also am close to an opportunity to a trading clerk at Tradelink (35K-45K), but I don't know what to do? Any of your thoughts would be much appreciated, Thankyou.
  2. You might try over at registered rep magazine. Seems like I saw where some guy was straight commission at some firm as a commodities broker. He had no savings and I think he was calling 500-600 a day trying to open accounts. Is that what you want?
  3. Do the trade-clerk thing. Being a rookie broker without hardcore sales experience is a very hard and grueling road to take. Don't do it. With today's telephone technology, you'll only be able to talk to elderly people and people who don't speak English as a primary language.

  4. Have you considered trading?
  5. The trading clerk position is actually the first step in becoming a trader at Tradelink (w/o experience). They said you stay a clerk for about a year, while they teach you the ropes through classes and observation. Also it is a salary position as well.

    I am curious though, on average what does a good prop trader make after a 2-3 yrs?

    For some more info on the broker job, they do have databases of potential clients who have 10K-50K in liquid assets currently invested in the market (what they told me). You only contact people in the databases. They also pay for your series 3 license. How does this sound?
  6. Not sure, but most I hear the floor is getting less and less crowded and want to join the electronic trading scene. Most commodity brokers are given a very simple database with minimal information and you have to charm them.

    With trading, it matters how hard you work and how smart you work.learn, learn, research, and learn some more, trading is an opportunity for real money, but nothing comes without it's costs, whether that be in forms of money, time, relationships, emotions. The earning potential is unlimited but only the ones who work their ass off and be smart about it gets to truely feel what boundless cash is. I trade with some successful day traders and hopefully soon enough I can feel what boundless cash really is.

    btw, did you have fun taking the aptitude test with LaSalle? ;)
  7. Glorified Telemarketer

  8. Don't do it. You are nothing but a telemarketer. I guarantee your leads will be people that lost money OR
    expressed interest but never opened account despite being pounded to death by other "hot" sales people.

    Good luck.