Bond brokers typically earn their income through commissions and transaction fees associated with facilitating bond trades. When a client purchases or sells a bond, the broker charges a commission, which is usually a percentage of the transaction amount, often ranging from 1% to 5%. For instance, if an investor buys a bond valued at $10,000, the broker might earn between $100 and $500 as a commission. These fees compensate the broker for their services, including providing market access, advice, and transaction execution. Additionally, some brokers may earn a markup or spread on the bond's price, especially in over-the-counter transactions. Overall, their compensation is directly tied to the volume and value of the transactions they facilitate, making their earnings dependent on active trading activity.