How To Select A Broker !

Discussion in 'General Trading Discussion' started by TraderAnalyst, Nov 7, 2019 at 8:21 AM.

  1. TraderAnalyst

    TraderAnalyst Senior Investor

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    A Broker is crucial when it comes to trading and so it becomes very important that how you choose a broker or a brokerage firm for yourself. There are a few things to be kept in mind apart from the reputation, which are -
    1. Investment Style - The broker or brokerage firm you choose should match your investment style means it must give the services you wish to use and understand your way of making a deal and these services should be within your budget.
    2. Compare the commissions - The cost of buying and selling stocks and holding them and other securities charges are very important in determining the right broker. Also margin interest and service charges are of great value in this regard.
    3. Refer Financial magazines - Financial magazines are of great help in learning about the perfect brokerage firm for your business.
    A right broker understands the client perfectly and ready to help in all aspects. He is a great well wisher of the client.
     
  2. J_C_Anderson

    J_C_Anderson Senior Investor

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    Yes, all these three points are important. The one thing I`d like to add is to pay attention to the regulation issues. Just check the license published by the broker using the register of the authority that issued it.
    Anyway, there is a huge number of trading platforms offering their services, so to my mind, almost any trader could easily find one that would fit his particular needs and requirements.

    By the way, one should also pay attention to the trading terminals offered by the broker. Most of them offer MT-based platforms, which actually are great tools, especially for newbie traders, but some of the brokers offer quite rare platforms, so it is important to check this in advance.
     

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