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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
Best Overall
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Stock Brokers News
09/18/2017
Opinion: High stock-broker fees are good for at least one thing - MarketWatch

MarketWatch

Opinion: High stock-broker fees are good for at least one thing
MarketWatch
Talk to any broker at a full-service shop. They have clients with portfolios of stuff that hasn't been touched for decades, largely because people weren't willing to pay a commission to sell it. Stocks generally go up over time. This is how people get ...

more info

09/11/2017
Now Open: Stockbroker Asset Allocation Survey - Livewire Markets (press release) (registration)

Now Open: Stockbroker Asset Allocation Survey
Livewire Markets (press release) (registration)
Results from the inaugural stockbroker asset allocation survey were published in April this year. It's the only information available on how this important part of the market is implementing portfolios. Three interesting points to arise were that ...

more info

09/24/2017
Weekly Ratings, Targets, Forecast Changes - FN Arena News

FN Arena News

Weekly Ratings, Targets, Forecast Changes
FN Arena News
The FNArena database tabulates the views of eight major Australian and international stock brokers: Citi, Credit Suisse, Deutsche Bank, Macquarie, Morgan Stanley, Morgans, Ord Minnett and UBS. For the purpose of broker rating correlation, Outperform ...

more info



 
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