Broker Interpretation: Duties, Responsibilities, and Types.
Broker's Interpretation – In investing in stocks or forex it can indeed be used as bonus income or what people often say is passive income. However, if you want to enter the world of forex, you cannot directly carry out a transaction / trade. In other words, you need a broker's encouragement.
This needs to be tried because the first thing you need to do is create an account with the broker. A broker can be said to be an industry or a person who acts as an intermediary for a bank or a major producer with a trader or consumer.
So, to make it easier for you to understand what is meant by a broker, so you can follow this post. So, follow this post to the end, OK?
Brokerage Interpretation.
A broker is a person or industry that intermediaries for transactions between investors or consumers in the capital market. Why is a broker needed? Because consumers only receive orders from people or an industry that is a member of the exchange. Therefore, a trader really needs the services of the members of the exchange.
In fact, the position of a broker is to make advice to investors based on the analysis of a trend similar to the market economy and the reputation of the industry owner and a data related to the actions that occur in the capital market.
This suggestion greatly affects a broker's reputation. In other words, the more broker's suggestions, so the broker's reputation will continue to grow.
In Indonesian, a broker is also often referred to as a stock broker and for KBBI, a broker is an intermediary trader who connects one trader to another in terms of buying and selling or sellers and buyers.
In exploring client requests, the broker can also carry out a research, investment plan, and analysis of the stock market provided to investors. So, to become a broker, you must be good at observing the stock market.
Duties and Responsibilities of Brokers.
In order to be successful, the main goal of a broker should be to master the client at a certain level, such as micro and macro. At the micro level, of course you want to understand the goals and objectives for your existing business, but at the macro level, of course you want to understand how this project fits them as a whole.
However, there are still some goals from another broker. The following is the purpose of having a broker.
1. Taking Customer Needs into account
The duties and responsibilities of a broker are not far from taking into account customer needs. Yes, that's right, because being a broker means that you have to have thorough knowledge of its products and services and provide advice to customers in understanding the products or services that are currently needed.
2. Protecting Good Bonds
In providing the best service for consumers it can be said to be the main benefit of a broker. Of course, a broker has to maintain a good relationship, which means responding to a customer's needs, identifying client problems, providing solutions, and assisting on a regular basis.
In building a strong bond with clients to feel safe and act open and honest, proper and effective communication is needed. Because that's the key to speaking clearly and not changing as long as you are a broker, this is very important and needs to be paid attention to.
One of the best ways for a broker is to build a solid clientele by building up his reputation as an expert giving unrealistic results. In setting reasonable expectations, then you have to give yourself an opportunity to really impress the client and position yourself as someone who will continue to work with.
3. Increase buying and selling transactions
The next task of a broker is not far from increasing buying and selling transactions. This task is of course not easy because they have to educate customers up to the conventions that have been made. On the other hand, a broker means that he has to be more justifiable if there is no disappointment from the party concerned.
After ending the convention, a broker must be responsible for preparing and fulfilling all the necessary documents required for the sale.
Even though dealing with clients is reliable, an approach like a friend's own is a very helpful step. This is because being a broker means being able to see individual suitability.
You have to look confident because as a broker you have to appear to radiate confident energy because clients can also feel the enthusiasm and enthusiasm of the broker working, so it makes people happy to be around him. Because in conclusion, the client will be happy working with him.
4. Sharing Data is Educative
If the client cannot master in your field of expertise, it may not really understand the process. This can cause business processes to stop due to ignorance. Therefore, a broker must initiate communication by providing information that is educational in nature so that it can help clients understand what the broker is doing.
To build a strong client relationship, the broker's job must be trusted because clients will rely on you as their expert. That's why it means so much broad knowledge and angles in all matters.
Types of Brokers.
1. Retail Brokers
In this initial type, there is a retail broker, which helps an investor in receiving a commission from each transaction that matches the results of sales or purchases by clients
2. Full-Service Broker
This second type is a broker who provides full services to investors and people who become their clients, such as providing reports on the results of analysis, providing information about data, executing client transaction orders, and providing options or steps desired by clients in a product.
3. Deep Discount Brokers
This third type, deep discount broker has the task of carrying out the buying and selling and management of client accounts.
4. Discount Brokers
This fourth type of broker, provides services in the form of executing orders to carry out trades under the direction of the client and offers advice in the form of analysis reports or the latest data. Generally, investors who use these brokerage services usually have prior knowledge of the capital market and are able to read the information provided by the capital market.
5. Online Brokers
This last type of broker, online broker, is a broker that provides services via the internet network. With the rapid development of data technology at this time, online brokers are also increasingly interested because people are trying to transact with a small capital of only IDR 10,000. Because using the internet, transactions can also be done anytime and anywhere. Not only that, the commissions paid are much cheaper than conventional brokers.