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What is a stockbroker?

A stockbroker is someone who can buy or sell stock, futures or currencies in your behalf. There are many good stock broking firms around.

Professional brokers spend a lot of time watching the markets; their systems provide them with most up to date information on any stock.

Remember, though that your destiny is in your hands not your stockbroker. Don't go blaming your stockbroker if the market turns around on you. The market will do what it has to do, and all that is under your control is your own money management skills.

There are several types of stockbrokers: (Internet broker, discount broker, full service brokers).

Internet brokers: This web site explains how to trade and do it yourself. It is the cheapest way; no advise given by stockbrokers but you get access to all the tools. You are on your own take the time to learn the trick of the trade and practice it.

Discount broker: You pay small fee but cheaper than a full service broker. They only take your buy or sell order.

Full service broker: More expensive as they will provide you with their educated advise about the order you want them to execute. They also provide any other information you wish to know.

Remember to always double check or confirm your order with your broker, NEVER assume the person on the other side has heard you correctly.


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