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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
11/24/2017
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11/23/2017
China bourse slams 'misleading' liquor research by stock broker - Financial Times

Financial Times

China bourse slams 'misleading' liquor research by stock broker
Financial Times
China's main stock exchange has criticised a major investment bank for “misleading” investors in an equity research report that predicted a big price rise for ...

and more »
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11/06/2017
Former Perth stockbroker sentenced | Business News - Business News

Business News

Former Perth stockbroker sentenced | Business News
Business News
Former stockbroker Lewis Fellowes has been sentenced to three years' imprisonment after pleading guilty to three dishonesty charges, but has been spared ...
Stockbroker sentenced for misusing client funds - ifaifa
Lew Fellowes walks over $1.6m accounts swindle | The West ...The West Australian
Former stockbroker sentenced for dishonest use of clients fundsLeapRate

all 4 news articles »
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