Stock Investing Basics: 7 Key Questions to Ask Your Potential Broker

Making the transition from being an uninformed investor to an educated and active one will require that you take control over your investment capital at some point in time. Before depositing your money with either a full-service or discount broker, you will need to determine which brokerage house suits your specific needs. Here are seven basic questions to ask your potential broker before setting up your investment accounts: 1. What are your trading and commission fees? 2. What type of accounts do you offer? 3. What minimums do you require in each type of account? 4. What interest rates do you pay for cash accounts? 5. What kind of banking amenities do you offer? 6. Am I restricted in any way as to what I can buy with the specific account that I choose? 7. What type of research resources do you offer and which ones are free? Your best bet to get the answers to these questions is to: Check out reviews posted on the internet from sources such as Smart Money Magazine, J. D. Power and Associates or Barron's. Make a list of the top 3-5 brokers based on your specific account requirements, then Phone the major brokers and ask a customer service representative your specific questions. Most top brokers have a 1-800 phone number, or Visit the web sites of your list of top online brokers for a better feel as to what they have to offer and what sort of professional web presence they have established. These simple steps should better guide you through the myriad of options available to you once you are ready to open up your own self-directed investment account. I encourage you to get started today in finding those great stocks that have the potential to produce consistently high returns for you. Disclaimer: Any information shared on Stock Investing Simplified does not constitute financial advice. Stock Investing Simplified is not a registered investment advisor or broker-dealer and does not purport to tell or suggest which securities readers or customers should buy or sell for themselves. The Website is intended to provide general information only and does not attempt to give you advice that relates to your specific circumstances. You are advised to discuss your specific requirements with an independent financial adviser.

Comments

1. I know i'm only 13 years old, but i'm learning about all this. I think it was a good video and i understood it very well. Thank you for making this video