If you're planning to invest in the stock market you will need a reliable stock broker to execute your buy and sell orders. Your stock broker can be a full-service stock broker or a discount stock broker. Full-service stock brokers are regulated professionals that gives investment advice and execute client's buy and sell orders. Discount stock brokers charge much lower commissions and fees than full-service brokers. Although they don't give investment advice, which is great if you prefer to do your own research. This means you pick your own stocks, and relying on the discount broker's web site to execute your orders. If you are looking for a broker, ask yourself the following questions:
stock broker salary
Full-Service Broker
Do they make me feel comfortable? Visit a brokerage house in your area and ask some questions like, "Can I preview what I would get as a client, such as the Web site and statements?", and "Why do prospective clients choose not to work with you?".
Do they offer specialists in my favorite sector? Seek out a brokerage firm that specializes only in a specific sector, like energy. Such firms are specialists in their particular sector and become quite knowledgeable. They can offer better service and their attention to detail seem more professional.
Do they provide me access to one or more advisory services? Majority of stock brokers are to commission conscious. Too often they try to encourage their customers to trade even though no good trading opportunity is visible. If you consult an advisory service before you trade, it might save you some money.
Do they show a willingness to help me learn about trading stocks? If they take the attitude,"Don't ask any questions, just do what I tell you to do", drop them like a bad habit. They should have the courtesy and desire to explain how they're investing your money.
Discount Broker
What types of investments does the broker provide? This is always an important criteria to look at before you choose your discount broker, although you maybe only interested in stocks right now maybe in the future you would like to look at bonds and other investment vehicles. Check with the discount broker what types of investments are available and what costs are associated with them.
Do they have the lowest commissions? Compare commissions among the discount brokers for buying and selling stocks. Some charge low commissions up to a set amount of shares bought or sold, others offer one flat price.
Are they offering new account incentives? Many discount brokers have incentives for new customers, like free trades, lower margin rates, or reduced account requirements. If everything about the broker meets your needs, going to broker who offer you the most incentives is smart.
Do they charge account fees? See what fees exist and when the are applied. These fees can be for transferring accounts, inactivity fees, IRA custodian fees, minimum balance fees, and annual fees.
Finally, the best stock broker for you is the one that will meet your particular needs. With discount stock brokers, you basically get what you pay for no advice and no hand-holding. Unless you're prepared to go completely alone, you're probably best off with a full-service broker.
stock broker salary
Full-Service Broker
Do they make me feel comfortable? Visit a brokerage house in your area and ask some questions like, "Can I preview what I would get as a client, such as the Web site and statements?", and "Why do prospective clients choose not to work with you?".
Do they offer specialists in my favorite sector? Seek out a brokerage firm that specializes only in a specific sector, like energy. Such firms are specialists in their particular sector and become quite knowledgeable. They can offer better service and their attention to detail seem more professional.
Do they provide me access to one or more advisory services? Majority of stock brokers are to commission conscious. Too often they try to encourage their customers to trade even though no good trading opportunity is visible. If you consult an advisory service before you trade, it might save you some money.
Do they show a willingness to help me learn about trading stocks? If they take the attitude,"Don't ask any questions, just do what I tell you to do", drop them like a bad habit. They should have the courtesy and desire to explain how they're investing your money.
Discount Broker
What types of investments does the broker provide? This is always an important criteria to look at before you choose your discount broker, although you maybe only interested in stocks right now maybe in the future you would like to look at bonds and other investment vehicles. Check with the discount broker what types of investments are available and what costs are associated with them.
Do they have the lowest commissions? Compare commissions among the discount brokers for buying and selling stocks. Some charge low commissions up to a set amount of shares bought or sold, others offer one flat price.
Are they offering new account incentives? Many discount brokers have incentives for new customers, like free trades, lower margin rates, or reduced account requirements. If everything about the broker meets your needs, going to broker who offer you the most incentives is smart.
Do they charge account fees? See what fees exist and when the are applied. These fees can be for transferring accounts, inactivity fees, IRA custodian fees, minimum balance fees, and annual fees.
Finally, the best stock broker for you is the one that will meet your particular needs. With discount stock brokers, you basically get what you pay for no advice and no hand-holding. Unless you're prepared to go completely alone, you're probably best off with a full-service broker.