While trading a huge sum of money is to be paid as Brokerage. Therefore traders must be very careful while choosing Brokers for themselves. Primarily we have three types of stock brokers :
- Discount Brokers : These are brokerage firms who facilitates you to carry out entire trading process in a hassle free manner. They provide you with all the required tools and research reports which you require to manage your portfolio. Discount Brokers offers services at lowest cost among these three brokers.
- Premium Discount Brokers : Investment advise is offered by them along with all basic services that a brokerage firm provides. These brokers charge more then discount brokers.
- Full Service Broker : These brokers offers one-to-one advise on investment and also trades on your behalf.They generally offer widest range of services among these three. The more service you choose more you pay.