| They are a variety of options to consider when | | | | make sure you read the terms and conditions. |
| choosing an online stockbroker. Some firms offer full | | | | As far as trading goes, you need to examine the |
| service brokerage. A discount brokerage can offer | | | | different brokers that you feel comfortable using. |
| you reduced commission rates and more than likely | | | | Bearing in mind you're more than likely going to have |
| won't charge you as high fees. They generally charge | | | | two or three different brokers each one offering |
| a small fee for a multitude of services. Doing your | | | | their unique services with specialized tools that you |
| homework and deciding what is best for you either a | | | | might prefer. You can expect to pay anything from |
| full service brokerage or a discount brokerage will | | | | $4.95 up to $15 for a single trade. Unfortunately, you |
| play a big part in your bottom line and could be the | | | | need to take this into account as some online |
| difference between paying $91 and paying $9. | | | | brokers would appear to be charging a flat or a low |
| One of the first things I like to consider is access to | | | | fee, but they will also have clauses written in, for |
| my money. I like having systematic and automatic | | | | example, regarding the amounts of trades you must |
| access to my money. The majority of online | | | | make i.e. the more trades you make the cheaper it |
| providers will provide you with a cash account facility | | | | will become. This can often lead you into a false |
| which will be directly linked to your accounts e.g. my | | | | economy, spending more than you have budgeted |
| account is linked to my Visa account and that allows | | | | and are willing to risk. Although these are more often |
| me to have access to it through my card, meaning I | | | | than not associated with running cost and an |
| can use it as an ATM or I can use it to buy groceries. | | | | acceptable commission or price to pay you should |
| A good brokerage firm will provide a variety of | | | | also be aware of other expenses and fees. |
| options for me to have access to my money but | | | | Although it is difficult to point out particular online |
| you also need to keep a check if there are penalties | | | | brokerage firms, some have been known to have |
| for minimum balance and if they have fees for such | | | | cancellation fees or stop out fees. The fees and |
| accounts. I have heard of brokers charging up to $10 | | | | expenses can be uncalled and the best advice I can |
| to transfer money to my accounts, from my | | | | offer to you is to take your time and do a bit of |
| account, to me this seems a bit excessive and unfair, | | | | research on the companies you choose to trade on. |