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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
09/24/2018
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09/17/2018
Brisbane stockbroker Zac Lazarac rolls the dice on a radical career change - Courier Mail

Courier Mail

Brisbane stockbroker Zac Lazarac rolls the dice on a radical career change
Courier Mail
A YOUNG Brisbane stockbroker has rolled the dice on a radical career change. Zac Lazarac (try saying that three times very quickly!) cashed in his chips at Wilsons in June and is now focused on opening a coffee roaster and cafe in Newstead. After more ...

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09/23/2018
Is this the best stock in the property sector to own in the current market? - Motley Fool Australia

Motley Fool Australia

Is this the best stock in the property sector to own in the current market?
Motley Fool Australia
The broker believes that Goodman Group (ASX: GMG) is the top pick for the sector as the industrial property group is well placed to benefit from the burgeoning e-commerce tailwinds through its warehousing facilities. The problem is that not many will ...

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