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Discount Broking-a New Trend To Embrace
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Discount broking signify no-frill services specialising in minimal investment options. Their USP is of course extremely competitive rates compared to full service brokering. If you are one of the do-it-yourself investors, this kind of arrangement can work very well for you. Nowadays, with more and more people gaining access to broadband, popularity of discount brokers is increasing quite rapidly, especially with people wanting to take risks during investment. When you are dealing with discount brokers, you may not get certain services such as,
* Stock Research
* IPO Investment
* NCD & Bonds
* Fixed Deposits
* Mutual Funds
A discount stock broker doesn’t maintain personal research teams and thus they are incapable of providing services related to wealth management. However, their competitive structure of broking makes going with them a feasible decision. Two subcategories of discount brokers are as follows.
A. Fixed prices per trade: Here, irrespective of the trade size the brokers charge a fixed price.
B. Fixed fee monthly, unlimited trade: By selecting such an arrangement, you will be able to go for unlimited trading in specific exchanges and segments.
Do you want to know of some important reasons to go for discount brokers for online trading? So, here are three solid ones to guide your decision.
Spend more money on execution of trade
Why sacrifice trade execution quality just because you are dealing with discount brokers? Rather, you can turn the scenario to your advantage effortlessly! Discount brokers help you to save money on trade fees so the bigger percentage of your payments will go towards actual trade execution.
Get full access to trading & research software
As an investor if you feel worried regarding the fact that by engaging a discount broker you are sacrificing research tools, which can guide your trading decisions, you are completely wrong. Some discount firms these days are also providing analysis software, research reports, and real-time data to traders albeit at a discounted rates as their name promises. Could anything be better than this?
Never make quality compromises
Who said that by engaging discount brokers, you have no other option but to go for quality compromise related to trading? Many of these discount firms these days are using the services of third party solution providers when it comes to actual execution of the trade. Therefore, not only are you getting the same deals, as you would have to through a branded brokerage, but also at competitive prices.
While no one can deny the various benefits associated with the discount brokerage firm, it is important to make informed decisions when choosing such a service provider. First, decide how much are you comfortable investing? Trading accounts require initial minimal balance so you need to make a decision regarding a before you start trading. Sign up online and then choose a discount brokering that offers features such as 24 x 7 support, mobile access, and assistance when required.
Check whether your account will charge an inactivity fee or an annual fee. Once you are sure regarding your decision and have the right discount firm at your disposal. It is time to let go of everything and start trading!
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