Most commonly reported Work Activities

• Interacting With Computers Using computers and computer systems (including hardware and software) to program, write software, set up functions, enter data, or process information.
• Getting Information Observing, receiving, and otherwise obtaining information from all relevant sources.
• Establishing and Maintaining Interpersonal Relationships Developing constructive and cooperative working relationships with others, and maintaining them over time.
• Making Decisions and Solving Problems Analysing information and evaluating results to choose the best solution and solve problems.
• Analysing Data or Information Identifying the underlying principles, reasons, or facts of information by breaking down information or data into separate parts.
• Processing Information Compiling, coding, categorising, calculating, tabulating, auditing, or verifying information or data.
• Communicating with Persons Outside Organisation Communicating with people outside the organisation, representing the organisation to customers, the public, government, and other external sources. This information can be exchanged in person, in writing, or by telephone or e-mail.
• Evaluating Information to Determine Compliance with Standards Using relevant information and individual judgment to determine whether events or processes comply with laws, regulations, or standards.
• Updating and Using Relevant Knowledge Keeping up-to-date technically and applying new knowledge to your job.
• Communicating with Supervisors, Peers, or Subordinates Providing information to supervisors, co-workers, and subordinates by telephone, in written form, e-mail, or in person.

The Work

A Commodity Broker must typically keep a keen eye on the market in relation to product and investment pricing, trends and demand. Some traders receive purchase and selling instructions, meeting with other commodity traders to negotiate transactions.

Others may take client orders over the phone, performing deals via computer to a firm's trading department or directly on the floor of a stock exchange. Additionally, traders provide financial advice, often meeting with clients to plan, review or update an investment portfolio. 

Work activities also include:

• Interpreting market reports
• Trading on behalf of clients
• Liaising with transport, shipping and insurance companies
• Devising hedging strategies
• Visiting international suppliers
• Negotiating price, specification and delivery details
• Investigating new business openings

Employers of commodity brokers include investment banks, commodity brokers, financial clearing houses and exchanges.

Most commonly reported Work Tasks

• Make bids or offers to buy or sell securities.
• Monitor markets or positions.
• Agree on buying or selling prices at optimal levels for clients.
• Keep accurate records of transactions.
• Buy or sell stocks, bonds, commodity futures, foreign currencies, or other securities on behalf of investment dealers.
• Complete sales order tickets and submit for processing of client-requested transactions.
• Report all positions or trading results.
• Interview clients to determine clients' assets, liabilities, cash flow, insurance coverage, tax status, or financial objectives.
• Discuss financial options with clients and keep them informed about transactions.
• Determine customers' financial services needs and prepare proposals to sell services that address these needs.

Further Information

• Commodity Broker - from: GradIreland

This occupation is typically suited for people with the following Career Interests:

Enterprising

Enterprising people like situations that involve using resources for personal or corporate economic gain. Such people may have an opportunistic frame of mind, and are drawn to commerce, trade and making deals. Some pursue sales and marketing occupations. Many will eventually end up owning their own business, or in management roles in larger organisations. They tend to be very goal-oriented and work best when focused on a target. Some have an entrepreneurial inclination.

Administrative

Administrative people are interested in work that offers security and a sense of being part of a larger process. They may be at their most productive under supervisors who give clear guidelines and while performing routine tasks in a methodical and reliable way.

They tend to enjoy clerical and most forms of office work, where they perform essential administrative duties. They often form the backbone of large and small organisations alike. They may enjoy being in charge of office filing systems, and using computers and other office equipment to keep things running smoothly. They usually like routine work hours and prefer comfortable indoor workplaces.

Social

The Social person's interests focus on interacting with the people in their environment. In all cases, the Social person enjoys the personal contact with other people in preference to the impersonal dealings with things, data and ideas found in other groups.

Many will seek out positions where there is direct contact with the public in some advisory role, whether a receptionist or a counsellor. Social people are motivated by an interest in different types of people and like diversity in their work environments. Many are drawn towards careers in the caring professions and social welfare area, whilst others prefer teaching and other 'informing' roles.

There are many pathways towards a career as a commodity broker. 

Training & Development 

FET Centre Traineeship: Business Admin, Customer service, Accounting Technician, Management in centres around Ireland NFQ Levels 5-6 Search FET Courses

FET PLC Courses: Business Management, Sales, Marketing, Commerce, and Accounting courses around Ireland at NFQ Levels 5-6 Search FET PLC Courses

Apprenticeship: Accounting, Financial, Sales Apprenticeships NFQ level 6-8 Search Apprenticeships

Higher Education CAO Entry: Business, Commerce, Economics, Maths & Statistics, Accounts & Finance at NFQ Levels 6-8 Search CAO courses

Postgraduate Study Options Sales, Business, Accounts, Management, Financial advice NFQ level 9

Professional Development & Associations

Irish Banking & Payments federation 

Financial Services Union

The 30% club: Growth Through Diversity 

International Financial Services Skillnet Network 

Last Updated: April, 2023

Salary Range (thousands per year)* €35k - €120k

Salaries vary by employer, role, duties, location, and experience. Variance will depend on trading in stocks or financial portfolio management for pension & investment.  

Data Source(s):
Payscale/ Morgan McKinley/ Sigmar / CPL

Last Updated: July, 2024

* The lower figures typically reflect starting salaries. Higher salaries are awarded to those with greater experience and responsibility. Positions in Dublin sometimes command higher salaries.

View Salary information from Indeed.ie
Note: data not aways available

This information has been derived from the Solas National Skills Bulletin (2023).

Employment levels have grown annually since 2018, with particularly strong growth between 2021 and 2022 of an additional 5,500 persons. Almost all employment is concentrated in the financial activities sector. The share of non-Irish citizens employed, at 23%, was above the national average of 19% and was the highest share across the business/financial occupations.

The CSO Census data for 2022 shows that finance and investment analysts/advisers account for the largest share of employment in this group at over 70%, with insurance underwriters and brokers making up the remainder. Employment permits issued primarily related to various financial analyst roles in the financial sector. Although employment grew strongly in 2022, a 20% fall in online job adverts (particularly for finance/investment analysts) would signal that this growth rate may slow.

• FSU Financial Services Union (former IBOA)

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