Assistant traders are the people who work along with a trader and help him in the trade of equities, commodities, stocks, etc. Many people think that the job of a trader is to buy and sell these products and suggest investment plans to the clients. It is partly true, but what goes behind this buying and selling is something that cannot be performed by ordinary individuals.
An assistant trader is employed to provide findings through proper planning and research into the financial market before presenting an investment plan for the client. He has to apply his knowledge, experience and foresightedness in order to analyze and develop the investment plan.
The job of an assistant trader comes with a condition that he has to deliver profitable plans not just for the organization, but for clients as well. It helps the organization to earn goodwill and attract more clients. He will be responsible for the development and implementation of promotional activities for the organization and the acquisition of new clients.
The assistant trader uses a variety of tools to calculate and assess the implications of stock and commodities purchase. He also researches about the new products and stocks so that the clients find a wide range of financial products to choose from.
Assistant trader responsibilities are explained in detail below which will help you to learn more about this job and the functions associated with it.
Research and Analysis
Portfolio Management and Advising
An assistant trader must be updated with the latest market trends and the financial products available in the market. He should possess strong knowledge of mathematics, statistics and econometrics along with a business and customer service oriented mind. He should be able to manage multiple accounts of clients with ease. Ability to take prompt and right decisions under stressful environments is a must to get selected for this job.
You need to be a graduate or a post graduate in a finance related course such as accounting, investment analysis, economics, etc. On the other hand, some employers might ask for a doctoral degree while hiring assistant traders. The exact qualifications and experience required by different organizations vary largely depending upon the products and services that organization deals in.
You can earn around $36,000 on an average while working as an assistant trader. Other benefits including health insurance, performance incentives and other bonuses will depend on the organization and your performance in the long run.
Having read about the assistant trader responsibilities, we are sure that you now have a clear idea about this job profile and the path you need to choose in order to become an efficient assistant trader.