What are discount brokers?
The discovery brokers are a great medium point for people who want to participate in investing, but are careful about a step alone. Brokers do not offer clients any investment counseling and do not undergo the investment process. However, if you know what you are doing, the discount agent will act and buy or sell shares and carry out options. On the other hand, brokers full of services will advise you on what to buy, when to sell and how to divide your investment money. Some discount intermediaries offer monthly newsletters in which recommendations are printed, but it is not a standard service and should not be expected.
Brokers offer discounts different services, often depending on how big the local demand is and how extensive the competition is. For example, a broker may charge only $ 10 in USD (USD) for a transaction or have percentage of a percentage -based transaction. When you examine the broker discount, be sure to ask the addipoples for things likeis the transfer of assets, bank account transaction and IRA binding fees.
A deep discount of brokers, an even cheaper service, should only be considered by those who know the investment market well and do not need anything except for sales and stocks. Deep discount brokers usually charge a small flat -rate transaction fee rather than operate. The most popular discount brokers are Ameritrade and TD Waterhouse, while Scottrade leads a way for a deep discount broker.
If you are considering discount brokers, there are a few questions that you should ask potential brokers.
- What is the minimum initial investment you need?
- Is there an account maintenance fee, or do you charge additional fees if I often trade?
- Do you offer inventory and research reports to keep up with the current market?
- Do you have a local office or do allErou your business online?
- Do you offer a customer service based on your phone? Good brokers of the discount usually have a hot line 24/7, where you can get offers in stock or ask a question.