An investor normally avails the services of a stock broker to assist him in the buying and selling of shares. They are registered members of the stock exchange and they can register in one or more stock exchanges. In fact, only stock brokers can buy and sell shares in the stock exchange. An investor must get in touch with a stock broker to trade stocks. The brokers charge commissions for the transactions they undertake. This amount varies from broker to broker and is usually a percentage of the total amount of trade.
Traditionally, stock trading was done through the brokers, personally or through phones. As the number of people trading in stock market increased in the last few years, a host of problems came up. This included location constrains, miss communication, etc. But all these aspects are a thing of the past ever since online trading has cropped up. Through this medium, an investor can directly trade in stocks without the help of a stock broker. In these cases, the online websites can be referred to as brokers. They are normally registered with one of the major stock exchanges in the country. Some of the major advantages of online trading of stocks are as follows-
• You can indulge in real-time stock trading without communicating with the broker.
• Display of real-time information in the form of charts, graphs and analysis.
• You can place offline orders for buying or selling stocks.
• The transactions are secured.
• Superior levels of customer service through email or chat.
A tremendous amount of responsibility lies on the stock broker. Not only it is restricted to manage the money of the client, but it also involves being up to date with the current market along with financial trends. The brokers must create their own client list, and this is applicable to those who are working with large trading firms, as well. Customer recruitment and service occupies a lot of significance in the daily duties, as well as responsibilities of a stock broker. This is all the more so as the modern day customer is on the verge of looking for the cheapest stock brokerage online.
The brokers need to maintain an honest relation with their clientele and must provide all information related to the investment recommendation. Normally, a stock broker buys as well as sells on behalf of a client. This is done electronically or by phone as it is deemed fit for the broker. Though the trade is dependent on a considerable bit on what the broker feels by analyzing the investment portfolio of the clients. He must be a friend, philosopher, as well as a guide and provide invaluable tips on decreasing the risk potential of the clients. In a way, a hand in glove relation should be maintained.
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