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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
05/20/2018
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05/02/2018
Stockbroker CCZ beefs up institutional team - The Australian Financial Review

The Australian Financial Review

Stockbroker CCZ beefs up institutional team
The Australian Financial Review
Boutique broker CCZ has bolstered its institutional equities team with three hires. The broker sent a note to clients on Thursday morning, saying it had picked up research sales trader Rob Pizzichetta, DTR-derivatives specialist David Dahdah and ex ...

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05/15/2018
If everyone is selling in a bear market, does your broker have to buy your shares from you? - Investopedia (blog)

Investopedia (blog)

If everyone is selling in a bear market, does your broker have to buy your shares from you?
Investopedia (blog)
A broker won't lose money when a stock goes down in a bear market because the broker is usually nothing more than an agent acting on sellers' behalf in finding somebody else who wants to buy the shares. A broker is not required to buy from you if you ...

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