Member Avatar for Shamurai

The convenience of working with the exchange depends on the broker. So i want to understand main principles for making a right choice.

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  • Latest Post Latest Post by Valeryhalin
Member Avatar for rproffitt

I haven't used a broker in decades. Why should I consider using any broker today?
Let's define here what a stockbroker is: https://en.wikipedia.org/wiki/Stockbroker

Nope. I haven't used a human stockbroker for trades after about 1993. All trades since then are done by computers.

Edited by rproffitt
Member Avatar for Valeryhalin

To choose a reliable brokerage company, first of all, pay attention to the following features:

  • Active license. A scanned copy can usually be found on the website. Lack of a license is the first sign of an unreliable broker.
  • List of available markets. Most of the brokers work in the local markets of individual countries. The most popular are companies traded on the world's leading stock exchanges, in particular on the NYSE and NASDAQ. Even if you are a novice trader/investor, it makes sense to choose a broker that provides access to international exchanges.
  • Tariffs and commissions. It depends on them how profitable the trade will be. Many companies offer several tariffs to accommodate the difference in trading method. For example, tariffs for active traders or investors interested in long-term investments. Detailed conditions can be found in the tables on the website or in the official documents. For example, here are the trading regulations of the Just2Trade broker.
  • Available deposit/withdrawal methods. In simple words: the more there are, the more convenient it is. You can always choose a familiar payment system or choose an option with a minimum commission.
  • Demo account. It gives you the opportunity to try working with a real exchange and valid quotes without risking a real account. Relevant for novice traders.
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