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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
11/14/2018
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11/14/2018
US-based stockbroker jailed for GST fraud - My Business

My Business

US-based stockbroker jailed for GST fraud
My Business
An Australian stockbroker extradited from the US has been sentenced to five years' jail for fraudulently claiming over $500,000 of GST refunds. Following a decade-long joint investigation by the ATO and the Australian Federal Police (AFP), Perth man ...

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11/13/2018
Stock broker faces BSEC heat for market manipulation - The Daily Star

The Daily Star

Stock broker faces BSEC heat for market manipulation
The Daily Star
Commerce Bank Securities and Investment, a stock broker, looks set to face punishment from the stock market regulator for its alleged role in manipulation of seven companies' share prices. The companies are: Monno Jute Stafflers, Monno Ceramic, Legacy ...

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