The vast majority of all transactions are done by stock brokers, not your average joe investor. There is a broad range of brokerage services available. There are brokers who offer many services for aiding their clients meet their investment goals. No matter how much you think you can do your own research on what companies to invest in, these professional brokers will have entire departments – teams of highly skilled experts – that do research every day so you don’t have to.
1. Perks
Information, it seems, does not come cheap however, as brokers will typically charge high commission rates for every transaction. Whether or not you decide to use a full-service broker depends on your level of self-confidence, your knowledge of the stock market and the number of trades you regularly make.
2. Discount Brokers
Investors who wish to save on commission fees can use a ‘discount broker’. These brokers charge much lower commissions but don’t offer advice or analysis. Investors who like to make their own trading decisions and those who make many trades often use discount brokers for their transactions. Some traders may use both...
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