Make Your Stockbroker Work For You

If you want to trade stocks on the market then you have to use a qualified broker to do this. These days brokers can offer more services than just buying and selling shares. They will monitor share prices, and advise you on potential gains to be made on positively moving stocks. You can receive a number of services from a broker and you will either be charged a set fee or a commission for these. There are three basic services that a stockbroker can offer which are trades, stock advice and management of portfolios.


It may be that all you want to do is buy and sell shares so a broker will follow your orders on this. The buying and selling service is available to novice and experienced traders alike but the broker will not provide any advice here. A commission is usually charged for this service and is often calculated against the total value of the trades that you want executed. 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 time spent will really make a difference and is likely to come at a one off price with commissions payable on any trades.


Portfolio management comes in two forms which are advisory and discretionary. If you go for an advisory portfolio service, the stockbroker will create a proposal for you of shares that have a good chance of being in profit for you, then you have to decide what to do. With a discretionary portfolio service, the broker will manage all aspects of the recommended portfolio on your behalf and provide reports on how well this is working for you.



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