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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
03/21/2017
Argentinian stockbroker finds her creative side in Australia - ABC Online

ABC Online

Argentinian stockbroker finds her creative side in Australia
ABC Online
Ms Bruno grew up in Buenos Aires as one of nine children, the daughter of an architect and an interior designer. Several of her siblings were artists but Ms Andrea's initial career was not creative at all. "When I was in Argentina I was in the stock ...

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03/24/2017
How a young Wall Street informant who took down white collar criminals double crossed the FBI - then boasted about ... - Daily Mail

Daily Mail

How a young Wall Street informant who took down white collar criminals double crossed the FBI - then boasted about ...
Daily Mail
The head of an online brokerage firm who was arrested by the FBI in 2012 for allegedly taking part in a fraudulent stock scheme became a valuable informant. However he turned the tables on the feds when they wanted to indict him even though his ...

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03/12/2017
Questions over stockbroker's buy advice for McGrath - The Australian

The Australian

Questions over stockbroker's buy advice for McGrath
The Australian
The stock price has collapsed to 67c. Bell Potter surprised the market recently when it put a buy call on McGrath, despite a number of profit downgrades and a weak first-half profit. Net profit attributable to the consolidated entity jumped to $2.7 ...

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