How to Choose the Right Stock Broker for YOU and YOUR Trading Needs
★ SUMMARY ★
As you start progressing in building knowledge and now you’re ready to actually execute or put on trades, you actually need a broker to do that and handle that.
In this video what I’d like to do is give you some insight about different types of brokers between the discount brokers and full-service brokers and how to really choose the right broker for you and your needs.
I’m Sasha Evdakov and thanks for joining me in this lesson. Before we get into the different brokers and which one you should choose for your trading, let’s break down the two different types or the main types of brokers that we have.
Two types of Brokers
The way I’m going to do that is we’ll call it D for Discount brokers and the other broker that we have is the Full service and we’ll just call that F, we got discount and full-service brokers.
Now my guess is if you’re watching this video you’re probably going to go with the discount broker just because you probably want to do things on your own and I’ll show you some of them benefits here in a minute regarding these discount brokers.
Full-Service Brokers
Really, if you’re looking at full service versus discount brokers, full-service broker still do something to the end user and many people in the general public will go with a full-service broker. For example a full-service broker, what they may do is they give you advice.
They give you advice based on your taxes, they give you advice based on your future planning, they give you all this additional service on the phone, in person, as far as your retirement planning, as far as you are investing and what they do is they’ll actually execute the trades.
They do many more things, however this costs you a lot of money because they have to make up their money somehow their revenue they get paid big bucks in order to do recommendations and consultations.
In the end that’s what it goes down with and they execute your trade. So if you want invest in Microsoft, if you want to invest in Apple they will still execute your trades but typically you will pay much more, sometimes $50 to $100 sometimes even more so to execute that trade.
Discount Brokers
Discount brokers are more online kind of brokers they’re cheaper. So they’re cheaper brokers and in this scenario it costs less cost you less money for a discount broker but really what they mostly do is they just execute trades. That’s really the name of the game for these discount brokers.
Posted at: http://tradersfly.com/2016/02/choose-right-stock-broker-for-you/
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I definitely need broker integration for my wallmine portfolio
How do I find a CPA or consultant?
Anyone consult for investment / taxes?
the 29 who gave a thumbs down are a bunch of morons
To much fluff
You rarely blink and you write backwards. Amazing!
what do you mean by that Support ? Could you explain to me please?
HAHA theres no such thing as a right stock broker they are all Bloody scammers id rather CUt out the middle man and Buy Stock straight from the Source you dont need these Crooked brokers
Hi Sasha. Your videos inspired me when I was in the military and I have since been using Robinhood & I have a TD Ameritrade account too but haven’t been using it. Robinhood’s no commissions is just soooo nice
If I buy stock through one broker, do those stocks stay with that broker or do they follow me if I decide to switch brokers at a later date? If they follow me, is there a specific process to make that change? Love the videos and teaching style btw!
so? what is the best broker to ex my trades?
Hello, I am from Costa Rica, can you please recommend me a broker for my country, that doesn't require a lot of miminum? I wanted to do Interactive Brokers but they require a minimum of 10.000 USD
The advice about paying for advice separately is spot on!
he dont right backwards, he only mirrored the screen in video editing. He appears to be writing using his left arm but in his very old videos he uses his right hand.
Ok you are a master at drawing out points… for gods sake get to the point and stop wasting peoples time…
this video is useless
you never mentioned a broker
Everytime he says pick up the phone and call reminds me of "The Wolf of Wall Street" when Leo gave his speech
Can you do a video on how to run your own brokerage firm
If I wanted to do penny stocks. Is there any possibility I could trade stocks by myself without a broker?
He takes 5 minutes to say something that could be said in 1 minute. Yawn
Suggestion : Roth IRA`s How do they work ??
wonderful video
sir Faisalabd mai stock broker kis tarha find kr saktey hai
I subbed USA, Chicago, IL
Very helpful!!
I love the way you teach. You are very clear in your explanations.
Is Scottrade a discount or full service broker?
Hey, Thanks for the video. I was just wondering how do you differentiate the quality of the trading platforms?
Hey, nice vids man. I started trading stocks months ago with my bank (full broker) with a capital of 2000$. I love doing swing and day trading unfortunately this bank scamming fucker doesn't have the tools i need and doesn't even have a real time platform where i can follow the stocks…and commission is ridiculously high… I tried Suretrader's demo platform which gives 7 days of training in the real-time market and I did pretty good :P. I live in Canada and ready to start with real money but I don't know which broker i should choose there is so many bad and good feedback on all of them lol. Can you recommend a good broker I can use that is available in Canada?
thank you ! hugs n kisses 😉
I'm 17 years old and just started doing virtual trading though my phone and constantly stay up to date with stock rises and falls and in the last 2 days have. Are 30,000 dollars. Now this has been through a virtual trader app on my phone. There is an app I got which does it for real though. My question is. If I used the same tactics and planning in the real thing as I have in the virtual one would I make just as much money?
Most "full service" brokers ( atleast in my country) have little clue about the Real stock market, and most of the times they tell you, what they are told ( by their super bosses) to tell their customers. They are typically very junior folks just passing calls. The Good and big brokers never touch retail customers, unless your portfolio is massive. Thus, is better to go with a discount broker and research yourself if you really want to operate in the stock market.
Very good video Sasha! I love all of your videos in-fact. You've helped me so much! Kudos to you bro keep up the amazing work 🙂
I think Trading 212 is the best stock broker. What do you think? Do you trade with Trading 212? And do you know how I can open a real trading account at 15 years old? I "make" (for my age) decent money on my demo account.
Have you tried Oanda? I'm loving their platform.
Guys, Any cheap or decent broker/platform in UK for me to start with…I am literally a noob?
did you really write backwards in that acrylic im assuming because it's very clear
Thank you. Very well made video and helped a lot.
thanks sasha so far most of your videos u have posted have been simple ~thumbs up~
keep it simple