Discount brokers provide trading executions at rock-bottom prices. That is the key benefit they offer.
Discount brokers do not offer the same level of customer service or the same number of products that full-service brokers do, but discount brokers do offer all of the tools and services you need to place trades as an individual investor. If you feel comfortable conducting your own stock analysis and placing your own trades, you may want to consider using a discount broker.
[VIDEO] Discount Brokers
Now that you’ve got the basics of what a discount broker is, check out the video above and see what else you can learn about discount brokers at the whiteboard.
Full Service Brokers
Full-service stock brokers, as their name suggests, provide a full range of products and services to their clients. Typically when you are working with a full-service broker, you will work with an individual who personally oversees your account and is responsible for taking care of your needs.
[VIDEO] Full-Service Brokers
A full-service broker can provide services, such as:
- Trade execution
- Stock selection advice
- Retirement advice
In return for providing extensive, hands-on service, a full-service broker typically charges higher commissions.
Now that you’ve got the basics of what a full-service broker is, check out the video above and see what else you can learn about full-service brokers at the whiteboard.
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