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Stock Brokers

A transaction on a stock exchange must be made between two members of the exchange — a typical person may not walk into the New York Stock Exchange (for example), and ask to trade stock. Such an exchange must be done through a stock broker.

There are three types of stockbroking service.

  • Execution-only, which means that the broker will only carry out the client's instructions to buy or sell.
  • Advisory dealing, where the broker advises the client on which shares to buy and sell, but leaves the final decision to the investor.
  • Discretionary dealing, where the stockbroker ascertains the client's investment objectives and then makes all dealing decisions on the client's behalf.

In addition to actually trading stocks for their clients, stock brokers may also offer advice to their clients on which stocks, mutual funds, etc. to buy.

Stock Broker Comparison

Stock Broker TDAmeritrade ShareBuilder E*TRADE Fidelity
Schwab MerryllLynch Scottrade
Account Minimum Information
Cash A/C $2,000 No Min. $1,000 $2,500 No Min. $2,000 $500
Margin A/C $2,000 $2,000 $2,000 $5,000 No Min. N/A $2,000
Retirement A/C $1,000 No Min. No Min. $2,500 No Min.. $250 No Min.
Commission Schedule -- Online Trades
Market Order $9.99 $11.95 $6.99+ $8.00+ $12.95 $29.95 $7.00
Limit Order $9.99 $11.95 $6.99+ $8.00+ $12.95 $29.95 $7.00
Fee Schedule
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Ratings
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Stock Brokers News
01/20/2018
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01/15/2018
Perth stockbroker Euroz flags a lower half-year profit - The West Australian

The West Australian

Perth stockbroker Euroz flags a lower half-year profit
The West Australian
Listed Perth stockbroker and funds manager Euroz has flagged a lower half-year profit on the back of a slower stream of corporate deals. The group said today it expected to record a net profit of between $12.4 million and $12.6 million for the six ...

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12/26/2017
How to choose a stockbroker - Motley Fool Australia

Motley Fool Australia

How to choose a stockbroker
Motley Fool Australia
So you're ready to buy shares. And you've read our introductory article . But you want more information on how to choose a stockbroker. Unless you really value the research that a full-service stockbroker provides, you're likely best served by signing ...

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