Stockbrokers And How To Use Them

It is a requirement that a qualified stockbroker is used to buy and sell shares on the stock market. But they will do much more for you than just execute trades. They can track share prices, and provide advice to you on which shares to follow that have the potential of moving in the right direction. A stockbroker can offer you a wide range of services and they will charge different fees for these services. Brokers can perform trades, can offer you market advice and manage a portfolio for you.


For share trade only arrangements your stockbroker will follow your instructions to the letter and execute your trades. The stockbroker will not offer you any advice with a trade only service and this service is open to experienced traders and newcomers. This is generally the most inexpensive use of a stockbroker and they will often charge a commission based on the value of the trade. Conducting trades is the most popular service offered by a stockbroker.


Offering advice is another popular service. As the advice provided by the stockbroker draws on their expertise of the market and involves them in a lot of work to recommend profitable stocks to you a higher fee will be payable. You will receive a lot of the stockbroker’s time and assistance so you are clear on exactly what stocks are being advised and their profit potential. This time spent will really make a difference and is likely to come at a one off price with commissions payable on any trades.


Discretionary and advisory portfolio management services are available from most brokers. If you go for an advisory portfolio service, the stockbroker will create a proposal for you of shares that have a good chance of being in profit for you, then you have to decide what to do. With a discretionary portfolio service, the broker will manage all aspects of the recommended portfolio on your behalf and provide reports on how well this is working for you.



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