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What Is Stock Broker?

A stockbroker is a financial individual or agent who executes orders for stock or other investment instrument in the stock market on behalf of clients, generally for commission. Broadly speaking a stockbroker is an intermediary, a highly knowledgeable financial professional licensed to buy or sell stocks on the stock exchange. Most stockbrokers work for a brokerage firm and handle transactions for a large amount of individual and institutional customers.

Did you know? Today the majority of buy and sell orders are executed through online stock brokerages and they are commonly referred to as stock broker. Stock trading accounts operated by online brokerages serve as a trading platform where individual investors can buy and sell stocks for a small fee charged by the broker.

Investors have a wide array of options to choose their broker. The two main types of online stockbrokers are Full-Service Stockbrokers and so called Discount Stockbrokers. Both are licensed brokers but Full-Service Stockbrokers offer a large variety of extra services, like research tools, stock ideas, analyst recommendations, tax tools, retirement planning while discount brokers ensure low commission rates without value-added services. Since full-service brokers tries to entice investors with Reduced Commissions the difference between these two types of stockbrokers are fading and Full-Service Stockbrokers are no longer the choice only for those wealthy stock traders that can afford more to be delivered augmented-levels of services.

Have you ever heard? Online brokers often offer Robo-Advisors that automate the buying and selling process and might provide automated portfolio management based on your individual financial goals and investment requirements tailored to your character an investor.

How do I choose the right stockbroker to my needs?

Conduct a research making special lookout for broker's creditability, reliability, read their online reviews from real clients, and check out commission rates that have to be transparent without hidden extra fees.

» Determine your investment goals regardless of marketing hypes trying to funnel your intention to this or that direction.

» Perform a due diligence on brokers and evaluate account features and fees.

» Make sure they provide top of the line customer support and don't be reluctant to test their customer service.

» Surf through the overwhelmingly extensive terms and conditions to be assured about your funds' security and your prospective account's protection.

» Always compare Stockbroker's trading platforms and tools over other companies'. Sign up for free-trials if available and checkout demos or use trading simulators if offered.

Do I have to open a brokerage account to start stock trading?

Yes, you need to register an account with an online stock broker.

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