Do You Require A Stockbroker

It is a requirement that a qualified stockbroker is used to buy and sell shares on the stock market. These days brokers can offer more services than just buying and selling shares. Brokers will follow share prices, and provide advice to you on which shares to follow that have the potential of moving in the right direction. Many different services are available from brokers now and they attract a commission or set fee arrangement. Brokers can perform trades, can offer you market advice and manage a portfolio for you.


If all you want to do is trade shares then a stockbroker will execute this for you based on your instructions and make the trade. The broker will help novice traders with jargon etc but will only execute the trade and not offer advice on it. A small percentage of the total trade amount is usually charged for this most basic of services. Conducting trades is the most popular service offered by a stockbroker.


Offering advice is another popular service. As the advice provided by the stockbroker draws on their expertise of the market and involves them in a lot of work to recommend profitable stocks to you a higher fee will be payable. It is also likely that the broker will give up a lot of time to you to confirm that you understand and are comfortable with all the recommendations. This is really important if you are a novice in share dealing and the payment will probably consist of a fixed fee plus trade commissions.


There are two types of portfolio management service which are advisory and discretionary. The difference is that with an advisory service, the broker will create a proposal of stocks that are considered a worthy portfolio but they will not act on this proposal until you instruct them to do so. If you choose a discretionary management option, then your stockbroker will work the portfolio without your input providing you with regular reports on how well the picks are performing.



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