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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
07/23/2018
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07/20/2018
Stockbroker John McIntosh's buy call - The Australian

The Australian

Stockbroker John McIntosh's buy call
The Australian
Veteran stockbroker John McIntosh and wife Marita have bought a South Yarra townhouse in a Nicholas Day-designed duplex. The whole-floor garden apartment, in the Botanic precinct, features private lift access from three-car garaging in the duplex.

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06/26/2018
Kudos for Danny Dreyfus, the accidental stockbroker - The Australian

The Australian

Kudos for Danny Dreyfus, the accidental stockbroker
The Australian
He worked as an institutional broker, selling Australian stocks to British investors at a time when Australian businesses were prominent in Britain, as the likes of Alan Bond, Robert Holmes a Court and John Elliott were doing deals. “There were lots of ...

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