How To Choose The Best Stock Broker

Finding the best stock broker is one of the most important decisions you will have to make before you start to trade on the stock market. A stockbroker is a stock market expert who helps the investors in buying and selling the shares of the listed companies. To help you get the best returns from your trading, you will need a good quality broker.

Tips to selecting the best stockbroker:

1) Do they specialize in the particular market you are going to trade? Look for experienced brokers who can provide you with satisfactory answers to your queries.

2) Do they hold a stockbroker license? In Australia, brokers need to hold an Australian Financial Services License (AFSL) in order to provide financial product services. It is issued by the Australian Securities and Investments Commission. In Canada, stockbrokers need to complete the Canadian Securities Institute (CSI) examination, and maintain continuing education requirements.

3) Look for top quality customer service at all times. You should do some research on the internet and take a closer look at stock broker ratings/reviews. A good broker should be able to provide you with the best services and take care of your personal preferences.

4) Your broker must be reachable at all times during working hours. You may need to contact your broker by telephone to discuss important matters.

5) Make sure the prospective broker offers necessary trading tools like up-to-date stock quotes, trading charts, latest market news, etc.

6) One of the main factors to consider when choosing a broker is commission rate. You should choose a broker who offers high quality service at an acceptable commission rate. Be aware that less experienced brokers may charge you extremely low commission but unable to provide you with good advices.

7) Are there any hidden fees associated with your account? You should inquire them about whether there are any other fees you need to pay before selecting a certain brokerage. Do not hesitate to ask questions.

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