| So, you've decided to switch brokers or better yet | | | | not be the best idea. You are more likely to be |
| you are here because you haven't picked one. If | | | | investing smaller amounts frequently. Also, these |
| you're switching, then you should list out what you | | | | commissions will take a large bite out of your profits. |
| didn't like about the previous broker. Also, list out | | | | Lets go over a broker that will help you out more. |
| what you liked about them. Now with these two lists | | | | 2) Discount Broker |
| on hand, lets go over your options. | | | | Understandably, these brokers don't offer all the |
| Brokers come in two varieties: | | | | services that full-service ones do. You will get the |
| 1) Full Service Broker | | | | level of service you require for quick and efficient |
| A full service broker usually gives a lot more personal | | | | trade execution. These brokerages advertise a lot on |
| attention to you - the client. They will first ask you | | | | TV. There is one where the brokerage is trying to |
| about your investment objectives and goals. Once | | | | show you that buying stocks is so easy a baby on |
| they have a better idea of what sort of returns you | | | | the screen can do it. There are others but the |
| are looking for in the short and long-term they will | | | | message is the same. Why pay extra for advice that |
| suggest different investments to help you meet your | | | | might not even help you beat the market? We |
| goals. Not only will you get advice, but guidance | | | | couldn't agree more. |
| through the trading transaction including timing and | | | | So what services should you look for in a discount |
| price. What will all this cost you? As you can expect, | | | | brokerage? |
| full service brokers don't come cheap. | | | | You should be able to access it online and also be |
| The commission is usually $100 or more. It depends | | | | able to speak to an agent with basic questions. |
| on what other bells and whistles are being offered. | | | | Through the online access, you will be able to track |
| Wondering why there is a need for full-service | | | | your activity, place different types of orders and get |
| brokers? Investors with large portfolios or those | | | | up-to-date market information. Some discount |
| need more guidance and have less time to spare for | | | | brokerages even give you real-time quotes for a |
| investing but have the funds to grow should use | | | | small additional fee. You should have access to your |
| these brokers. When you use a full-service broker | | | | account 24 hours a day, 7 days a week especially if |
| you will not be trading that often. For those looking | | | | you are going to be investing in penny stocks. |
| to invest in penny stocks, a full-service broker might | | | | |