Discount stock brokers are ideal for those who know the trade industry well and do not need extensive information about the market. Since an investor can obtain high discounts, these brokering services are very significant.
Notice! Your individual trading style will determine which discount stock broker is best for you.
1- How do you Trade
Are you a day trader or a swing trader? A few discount stock brokers are suitable for both daytrading and swingtrading. If you are a daytrader execution speed of stock brokers is very important for you.
2- Don't limit yourself to only one broker
Some stock brokers focus on different segments of trading. For example, some brokers don't offer option trading; others don't offer the Level II Quotes that daytraders require. Many successful traders use two or three stock brokers.
3- Easily Accessible
Look for a stockbroker who is easily accessible and, find out on busy trading days, can you reach this broker? This can be very significant.
4- Compare Rates
Find out how commissions are determined and how much they will be. A few discount stock brokers have hidden fees: Read the fine print. There are plenty of places they can tack on miscellaneous fees to drive up the overall cost.
5- Execution Speeds:
For daytraders, execution speeds are key and Datek promises to not charge you if your market order takes longer than 60 seconds.
6- Check out the broker's background and strategy
First, make sure they are properly licensed. Then find out about their experience, training and certifications.
7- Get Referrals
work with someone whom you have heard good things about. Ask around and read the stock forums to find out which brokers other people use and why they selected a specific broker.
8- Find Honest Brokers
Some discount stock brokers only think to earn commission. You need someone who has your interests in mind. Be careful with the deep discount brokers
. Read their fine print carefully.
9 - Limit Order
A limit order is an instruction stating the maximum price an investor is willing to pay when buying shares, (a buy order), or the minimum he will accept when selling, (a sell order).
These orders allow the investor to have greater control over the timing of his trades and consequently allow him to achieve better prices.
10- Dealing tools and value-added services
Which free services do they offer? Some stock brokers offer some form of free news, research or analysis tools. A few also offer premium services which are available either on a pay-per-use basis, or in exchange for an annual fee or the placing of a minimum number of trades per quarter.
Why ForexGen?
1. Lowest spreads in the market with 0-1 pips in 10 pairs, no commissions, no swaps and instant account Activation.
2. Scandinavian quality with Swiss precision, funds secured and local agents in 18+ countries.
3. ForexGen offers Forex trading in the major currency pairs and crosses.
4. Low capital start, with $250 as a minimum account size.
5. Liquidity and 24/5 availability are the characteristic factors of the Forex market compared with other financial markets.
6. ForexGen offers a free trial Forex demo account that allows you to test your skills and practice without risking real money.
In today’s market banks and mortgage lenders are being extremely cautious about which loans they approve. Real estate values are dropping and foreclosure rates are rising, and many banks are dropping out of the mortgage business all together. Gone are the days when banks could sell their loans on Wall Street, reload, and do it again. Banks are now faced with the reality of having to actually hold on to their loans like they did in good ole days. This means that they want to make sure that the loans they make at this time are good loans that will pay them back on time.
Nowadays, it seems like all we ever hear about, in reference to mortgage brokers, are the bad brokers; the ones that make headline news and are carted away on TV in handcuffs. What these stories fail to report, is that the bad mortgage brokers
make up less than 1% of all the brokers that are licensed in America. In fact, it has always has been the mortgage brokers that have advocated for tougher licensing guidelines, not the banks. They have always argued that by tightening licensing guideline they can eliminate the ‘bad brokers” that give legitimate brokers a bad reputation.
What columnist and reporters fail to mention in their stories is the indispensible service brokers perform in the marketplace. For instance, each bank tends to have their own, distinct, personality when it comes to approving loans. Knowing these “personalities” is where brokers really begin to benefit their clients. Brokers have working relationships with almost every kind of lender imaginable and know each lender’s uniqueness, rates and approval thresholds. This way, they are able to place your loan with the best investor the first time, saving their clients time and money.
Most brokers also have working relationships with the underwriters that work for these lenders as well. This doesn’t mean that they can get bad loans through the system; but it does mean that they can help underwriters see the glass half-full as opposed to half-empty while they are underwriting your loan. In today’s market, almost all mortgages are considered “marginal” and scrutinized by underwriters, having someone on your side is an invaluable asset.
One of the biggest selling points using a broker is personalized service. “So what, all I need is a good rate” is the response I have had from some customers in the past, but consider this. As opposed to brokers, when you submit your loan application to one of the large banks, your loan becomes a number and is pushed through the system as if it was on an assembly line. The monolith lenders usually have a person at the bank accept your application who will never see the loan package again. Those of you that have used the large banks know what I mean, those of you who haven’t, I suggest you try this exercise before committing to a larger lender.
Pretend you have just submitted a loan application a week ago with one of the large lenders. Let’s assume that you have forgotten to give the loan officer a key piece of information that can really help with your approval. Call their 800 number and try to find the right person to give this to so that the underwriter can consider it when approving your loan. This should answer the question, “Why do I need good service.” Another misconception many people have is, that you actually have to pay more when using a broker because they are the infamous “middle man.”
Nothing could be farther from the truth, in fact, most brokers can offer lower pricing than larger banks nine out of ten times. This is because, much like manufactures, money has a retail cost and a wholesale cost, and brokers get the wholesale pricing. Banks have to charge retail for their money because of the added expense it takes to close mortgages. They have to pay loan officers, processors, underwriters and many more expenditures that are involved with closing a loan. Simply put, their overhead is higher than most of the honest forex brokers, which results in lower pricing for you. Keep these facts in mind the next time you read an article about “crooked brokers” and remember, honest brokers don’t sell newspapers but they can save you time and money.
Aubrey Clark is an Author and editor for Direct Banc, a directory of Low Interest Cards, specializing in credit cards for fair credit. Aubrey is a native of Destin, Florida but now lives in Atlanta Georgia since 1999 with his wife and four children. This article may be reprinted without permission as long as the author credits and links remain in place.
ForexGen is complying with all applicable international laws and all financial regulations and procedures governing its industry in order to sustain the security standards in the financial services world.
Foreign exchange refers to exchanging of money in one currency for another which is traded on foreign exchange market or forex. Having an average daily trade of US$ 2 trillion and above, forex is the largest trading market in the world. Everyday new investors are jumping in forex to earning substantial profits. It’s good till they garner high return on investment but what if they tumbled down in the very first effort? Well, it may happen; especially when one is not at all exposed to the odds and calculated risks of foreign exchange. Therefore, it is suggested to move with a broker of forex, who knows foreign exchange more than him. Now how to hire an honest broker of forex? You may get the answer below:
Before hiring a forex broker make sure you know his job well i.e., for what he is assigned and how much he can do for you. Your expectation should be in tune with the experience of your broker. You may find a broker of the forex market, who is chic and cool with a long list of satisfied customers. But it’s not what you want from him. Before hiring a honest forex broker of forex, you should check out the spread of the forex broker. Go through his terms and agreements. Have an insight into the stipulations of service.
Embracing a broker who promises no risk may lead you to loss. You should not go after words of such brokers as forex involves certain amount of risks because of the nature of the market. Add to this, while selecting a broker of forex or foreign exchange market, see whether the broker has mini account or not. Mini account is designed for newcomers in the online currency trading and those who have limited investment capital.
Trading
The Foreign Exchange currency market is known as FX. It is the simultaneous buying of one currency and selling another, currencies are traded and exchanged in pairs. Traders are all unified on one goal, making profit. Profits are produced when the prices move in the trader direction.
In the past, Forex markets were accessed only by larger financial institutes, investment banks, large multinational companies, global money managers, international currency dealers, and liquidity providers. Lately, online trading is offering trading platforms for each individual who wants to trade currencies in order to gain profit.
Many owner operators think Brokers are all bad because some brokers can not be honest with the fuel sur charges now days. There is a misconception that all brokers are stealing the fuel sur charges from owner operators and that they are getting ripped off every which way but loose.
This is not the case. I used to own a dispatch service and had worked at a trucking company prior to my dispatch service. I have dealt with a lot of brokers in my time. I’ve even made a lot of friends because I’ve called on some honest brokers that were very fair to the carrier I worked with and my owner operators who were contracted under my dispatch. These brokers were very helpful and nice. The good brokers I had found went to the extent of bumping up the rate for me so that my drivers and company I worked for could make a little extra money, or would give my drivers a comcheck to help my drivers out with lumper fees so that my drivers wouldn’t have to take the money out of their pockets which was the carriers road expenses to live on. The carriers under my dispatch would not have to wait for the money to get reimbursed a week later. I’ve even made some long term friendships with some brokers who were honest and still stay in contact with most of them.
Yes, like in any industry you have good people and bad people and the trucking industry is no exception. I was told a few months back by a broker when I was trying to find a load for one of my carriers “if you see an extra thousand dollars wouldn’t you take it?” my reply to them was “no, that is the driver’s fuel money to help compensate for the fuel its not the brokers to take. This money should go to the carriers not in your pocket; they are the ones paying for the fuel.” This had gotten the broker vary angry at me because I am honest due to my up bringing.
These kinds of brokers who take the carriers fuel sur charges, all they are thinking about is money, living the high life and getting their loads hauled as cheap as possible. They have not had any formal training to learn right from wrong, but work according to what they had learned as a broker agent under another dishonest forex broker. They do things the wrong way and do not doing things according to correct procedure (yes there is a procedure to being a good broker) that is taught in a formal classroom setting.
I’ve recently noticed that a lot of brokers have gone out of business due to not only owner operators going out of business due to the fuel crisis this nation is undergoing but who are also taking the fuel sur charge away from the owner operators and small carriers who had ran under their dispatch.
Now I am not a broker yet, I am going to school to become a Broker, I have been taught not to be a dishonest broker. I was taught that if your honest with not only the shipper and owner operator and treat them fair, you will keep an on going business relationship with both the shipper and the carrier for many years. I was taught that if you’re dishonest to the owner operator and the shipper they will turn their backs and go elsewhere or there will be to much liability bestowed upon the company that these brokers who do not do things according to procedure learned in a classroom setting will have a lot of liability claims bestowed upon them.
Mind you there are a lot of brokers now days, who only see dollar signs and think they represent or are an agent of the shipper only. This is the wrong mind set. You are a mediator not an agent for neither party. These brokers that have not gone to school for formal training have been taught the wrong way and conduct their business in a very wrong manor. But the good brokers, they treat both shipper and owner operator with respect and dignity by being honest and staying in communication with both of them as a mediator between both parties thus acting as a mediator between both the carrier and the shipper..
So to think all brokers are bad this is the wrong misperception for I do know most owner operators do have a great working relationship with good brokers and would rather leave the bad brokers on their alone.
ForexGen.com is an online trading service provider supplying a unique and individualized service to Forex traders worldwide. We are dedicated to absolutely provide the best online trading services in the Forex market.
ForexGen provides a unique online trading experience based on our intelligent online Forex trading package, the ForexGen Trading Station, including the best online trading system.
ForexGen serves both private and institutional clients. We have a strong commitment to maintain a long term relationship with our clients.
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