The main role of a stockbroker is to perform transactions in financial instruments on a stock market as an agent of his/her/its clients. Also, they may offer other services.
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How to find the Best Online Stock Broker?
Stock Broker Comparison
There are three types of stock brokers:
• Discount/online broker
• Full service broker
• Money manager broker
Discount Broker / Online Discount Broker
They will take your order either over the phone or online. They won’t help you pick a stock or tell you when to sell. On the other hand, if you are dealing with them online, you may never actually talk to one of their employees. Usually, they offer low cost services to their customers.
Full Service Broker
A full service broker takes your order and also, provides recommendations of specific stocks for your consideration. Full service brokers provide an investing plan that you review periodically and make adjustments, but for a fee. This service is great if you don’t have the time or interest in making your own investment decisions.
Money Manager Broker
Money managers or handles significant portfolios take over the responsibility for investing and managing the entire portfolio in exchange for a percentage of the assets they manage.
A money manager or handles significant portfolios, which means you should have a hefty sum to invest before considering this route.