What is a money broker?

What is a money broker?

A money broker is a person who sits between two parties and brokers the transfer of funds, credit, debt etc. If you are thinking of becoming a money broker then read this short guide from reed.

A money broker can operate in the retail environment to end users as well as in the financial markets with businesses, banks and corporate institutions.

A money broker will usually be paid commission which is usually a size or fraction of the deal they have brokered.

In the retail market a money broker may deal as the following:

A credit card broker

A mortgage broker

A loan broker

A foreign exchange broker

A debt broker

In the financial markets which are not available to retail investors, a money broker may be involved in:

A stock exchange broker who executes trades on the trading floor

A different type of stockbroker who deals with retail orders

A broker who trades, bonds, stocks, and other commodities.

The term money broker is in itself broad and could mean a variety of roles which many people do in the financial markets

If you need financial advice and you live in the UK then you could contact the Money Advice service over the phone or via chat for impartial advice.

You can also contact the debt charity “Step Change” if you are in debt and need help.