10 Tips For Choosing A Broker

http://www.juancoccaro.com/

I think one of the main issues that people consider when choosing a broker are the famous commissions. Now I'm going to enum the aspects that seems to me to be taken into account when choosing a broker.

1): Commissions to Invest: All must know that cheaper is not always be good. That you should know most, but in the case of brokers tell you the price of its committees is a great indicator of the level of service they offer. A broker charges today between 7 and $ 20 per transaction. If we are not very delicious with the type of platform that we use to invest, nor to pretend that our transactions are carried out within less than 15 seconds, then have to focus on choosing a broker between the bands that you mentioned. If they choose a cheaper likely end up paying the consecuancias. Talking about some I will name one called Zecco Trading and people ask me if it's good or not. Never invested through that broker, but the fact they do not charge commissions is an aspect to take into account. A few days ago between a Zecco Trading page and you were charging 4.50 per transaction with the top ten gratis.Seguramente was a tactic to attract customers failure to collect, but also is a broker and not to neglect their price is very competitive for mercado.Voy to try to talk to investors who are using this broker for all to have an idea of ​​whether it is good or not. You have to think about other things besides the commission and that is where we could deduce that customer service can not be very good.

And otherwise if you pay more than $ 20 nor wait for the "super" service. Surely they will have some improvements in the system, and its speed of execution, etc.. But the truth is that they will not see big differences with other brokers cheaper. If you want to know more about the differences between good broker and other more simple, see this post.

2) Other fees: In addition to traditional investment commissions, you need to know that there are other brokers commissions in the U.S.. We charge for transferring assets to their accounts, to close an account, which they call the IRA custodian of securities, bank transfers, account inactivity, annual fees and fees for not maintaining a minimum in your account. You must know what they really need to not pay for services that will be used.

3) Minimum Initial Deposit: Some brokers will require a minimum to start investing, while others do not. You have to know what the broker that best fits your needs and you're done.

4) Customer Service: This is one of the most important aspects when choosing a broker. Study all areas including customer service before signing anywhere. In cases of "Discount Brokers" customer service includes help on the website and contact points for customers. You have to go to the page for each broker to get such are investigating. Some of the questions would have to do, can you find what you are looking for without having to hit 200 links?, Is it fast?, Etc.. It is also important to prove as the telephone service which has the broker. Do you have a way to meet friendly and respond quickly to our demands?, Is there any office in the country I live in case we have to talk face to face? (Not all are equally important but if some of these concerns are important to you write them down on their list of priorities).

5) Traditional Banking Services: Many brokers now offer banking services beyond the functions of the broker itself. Some of the services that are currently offering are:

a) Money Market Sweeps

b) Check of deeds and payment of invoices

c) Direct Deposit

d) ATM Cards

Of course if you have a brokerage account with these services will have the advantage of generating good interest, however if you open an account in a simple single broker will have the money deposited and nothing else

6) Investigate: There are many brokers who claim that their analysis is unique, we charge exorbitant figures for this service. There are a lot of research online, but I am not of the idea of ​​paying for the service we provide, which is often terrible. I am assuming that people really want to invest in the stock market have some notion of the subject, but would put money on a roulette wheel to see if we get the number of the company you choose. I currently am using the Broker Ameritrade and I have almost all the reports of the best companies for free. Depends on the broker where they open the account, but usually not charged. The only service that would pay due to good analysis is that name them on the blog some time ago.

7) Mutual Funds: No matter which broker you choose because you will find thousands of mutual funds to invest directly. They also commented that some brokers will charge for investments in mutual funds, so make sure you have chosen the right broker

8) Product Selection Investing: Most brokers offer all kinds of investing in shares and in all markets and even mutual funds. One type of market that not all brokers offer and what is the OTC (Over The Counter) to invest in penny stocks. If you want to take much risk by investing in penny stocks, make sure your broker offers them the OTC market. Investments such as options, government bonds or corporate bonds are not available in all the brokers.

9) Other methods to execute their orders: There's always put all the cards on the table. I am referring to it may happen that we run out of wireless connection to the broker and lose all the information at that time. Many brokers now have a telephone service for us to communicate directly with an operator and we give the order of what we buy. Other brokers have the same service but instead of an operator have a live person connected with the broker of the company to tell you to invest immediately in running order.

10) Other Benefits Extras: There are brokers who offer other services besides those already mentioned. The only useful in my opinion are the brokers that give you a certain number of free transactions or they give you money. For those who start with small amounts of money, having an extra service like that is really worth.

If you make 10 or 20 transactions per year to pay 7 or 20 dóalares transaction makes no difference. I consider it necessary to make customer service one of the major ams before look at other possible advantages. The features are similar to when we open our first checking account at a bank.