Stock Brokers – Review, Services, Benefits, Account Opening & more.
Discount Broker – Review, Services, Benefits, Account Opening & more
Discount Brokers are a new segment of stock brokers emerging very fast in this industry.
These companies are growing fast as they are offering trading services at a very low brokerage fees. USP of Discount Brokers is Low Brokerage charge.
This article would discuss about the Discount Broker, What is a Discount Broker and what is his role, How do they make money, what are the advantages and disadvantages of working with a Discount Broker etc.
What is Discount Broker or Who is a Discount Broker?
A Discount Broker is someone who will helps you trade with the Stock Exchange and lets you buy or sell shares but at a lower brokerage rate as compared to the other Stock Brokers in the market.
Most of the discount brokers will offer you “Do-it-yourself” trade options wherein you can directly trade using a trading platform and without being assisted by anyone.
However, they do not provide advisory or financial planning related services to the customers as in the case of the Traditional Brokers.
They follow the online protocol of trading and register every customer online with them so that they can trade directly using their respective portal access.
This is the most appropriate method of trading for those who are experts at trading; however someone who is just starting out as a trader and is still very novice in that field, it would not be a very feasible option.