Stop Overpaying Commission Fees With These Simple Online Stock Broker Tips

A stock broker, or a securities sales agent, is a regulated professional who buys and sells stocks, options and other securities on behalf of others, in return for a fee or a commission. Stock brokers work through a brokerage house, as buying and selling is restricted to members of the stock exchange. The benefits of using a stockbroker are that you will get specialist advice on your investments, with you and your goals in mind, as well as the broker taking care of the actual trade for you.

How to be a stockbroker

If you want to train to be a stockbroker, you’ll need to take two exams: the Series 7 or the General Securities Registered Representative Examination, and the Series 63. After taking both of these you’ll be able to sell securities and investments (except real estate, commodities futures and life insurance). You then need to register with FINRA/NFA and the Securities Commission for the states you plan to work in. At the end, you’ll need a brokerage house to work for too.

Online options

It used to be the case that only the well-off could afford to use a stockbroker and access the markets. Nowadays there’s there’s a huge range of online companies that allow you trade without getting any qualifications or even leaving your sofa. These can be a great way to avoid extra cost if you are experienced and know what you want to trade. Even if you haven’t traded before, many of these online companies offer advice and personalized stockbroker services to help you.