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
John Bate
John has 22 years of experience in financial services. This spans across financial research, financial services (As a qualified mortgage broker and underwriter), financial trading and sales at global investment banks. While working as a publishing research analyst, he covered European bank credit and advised institutional clients on investment strategies at both JP Morgan and Societe Generale. John has passed all three levels of the CFA (Chartered Financial Analyst) programme.
