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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
  View Fees View Fees View Fees View Fees View Fees View Fees View Fees
Ratings
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Stock Brokers News
05/21/2017
Liquidators eye claim against tennis great Ken Rosewall and son ... - The Sydney Morning Herald

The Sydney Morning Herald

Liquidators eye claim against tennis great Ken Rosewall and son ...
The Sydney Morning Herald
Liquidators to collapsed stock broker BBY are pursuing an insolvent trading claim against former company directors including tennis great Ken Rosewall and his ...

and more »
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05/25/2017
Clients' idle money to slip out of brokerages' hands - Economic Times

Economic Times

Clients' idle money to slip out of brokerages' hands
Economic Times
Sebi has put the onus of keeping track of investors' funds lying with brokers on stock exchanges. “Stock exchanges shall put in place a mechanism for monitoring clients' funds lying with the stock broker to generate alerts on any misuse of clients ...

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05/24/2017
Stockbroker fined S$9000 for corruption in latest 1MDB-linked prosecution - Channel NewsAsia

Channel NewsAsia

Stockbroker fined S$9000 for corruption in latest 1MDB-linked prosecution
Channel NewsAsia
SINGAPORE: The latest prosecution linked to scandal-hit Malaysian state fund 1Malaysia Development Berhad (1MDB) involves a stockbroker, a bribe and a US$2.4 billion valuation of certain assets controlled by convicted former BSI banker Yeo Jiawei and ...

and more »
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