Friday May 20, 2022

The careful choice of a broker will pay off many times over

At the first meeting, ask the broker everything. If you want to test the broker, you need to get the best idea of ​​what the broker could do in the future. Take it as a date for one
the second one.

Where to find brokers and how to choose them
The first thing you need to make clear is that you will not actually be a broker, but a brokerage house, or a brokerage company and another institute (such as a bank) that provides brokerage services. If you want to trade through a foreign broker, we recommend visiting the Internet, where you will find links to hundreds and thousands of various brokerage houses with various prices and services around the world. For reference only, let us mention some basic differences between domestic and foreign brokerage houses (see next page).

As we changed it, in the case of novk, we recommend a full-service broker. Finding a good FS broker is usually as difficult as finding a good lifelong partner, so you need to take the necessary work and work in finding a FS broker, which will pay off in the future (we ourselves were looking for a regular FS broker for more than a year, then we had to try several broker, we did not find one that would fully meet our requirements (requirements).

When looking for a broker, it generally pays to be as open as possible and to talk about your ideas, pranks, but also your own experience.

  • You can find a comparison of domestic and foreign brokerage houses HERE

As a guide, here are some of the following points to keep in mind when looking for an FS broker:

  1. If you can, make an appointment in person
    This, of course, applies only in the case of domestic brokers. Nevertheless, the bag is nothing short of the impression of a personal meeting. It’s about your investment, your pension, so find a time, make a personal meeting and meet with a TV broker on TV. See how it will be felt for you, how much you can read during the first meeting, whether everything will be impressed, and on the contrary, the breeding will be unbearably arrogant (away from such), etc. What the broker says during such meetings drink so that you can later compare the promises with the reality and replace the broker if necessary.
  2. If you are not personal, be sure to prefer the phone before e-mail
    This is a fixed case when you search for foreign brokerage companies on the Internet. Of course, e-mail will be a must for the first contact. If the bag takes place with several brokerage companies, the potential of e-mail communication, which could indicate that this company could first become one of the hot candidates, be sure to join the phone call. In most cases, you do not have to call in person, it is enough to indicate in the e-mail that you would prefer a telephone conversation, write a message and the company will call you in most cases.
  3. Ask for everything
    And literally. And you will have a personal meeting and a telephone conversation, take our time and ask anything you can think of. If you want to test the broker, you need to get the best idea of ​​what the broker could do in the future. Think of it as a date to look at each other.

The following should definitely not be missing from your questions:

  • How long has her broker done this activity iv?
  • Co dlal ped tm?
  • What made him live as a broker?
  • How do you distance me?
  • How do I study and exam in the field of investment?
  • Does he trade commodities and stocks and sm for himself?
  • If not, for?
  • If so, how are commodities and stocks? How is his strategy?
  • Do you like markets and companies? For the first of these?
  • What will I learn in the future?
  • What can I offer you besides a full order?

Ask upmn for his views, advice and tips. Always answer the broker’s questions and remember that no one will kill you for ignorance. If you don’t know something and can’t find the answer, there’s a broker first to advise you on what to do.

Make a note of the sawdust
Make a note of all the answers and make sure later that the broker is doing what he promised, and that it was not just promises and empty money. Don’t be afraid to show dissatisfaction and remind the broker of the promises the moment you see that it is not fulfilled. And if, even after repeated warnings, the broker does not fulfill his promises, he will start looking for another with a clear conscience.

Don’t promise anything in the first meeting
Never be convinced at the first meeting (even during the first phone call), then sign anything (with a potential life partner of the oven, you will not go to the airport right after the first meeting). To end the meeting with a horseshoe, think it over and let it go through your head. You really need to compare among the several brokers you hear. And then I can try to negotiate such a procedure later for a little lower price, not as standard.

Prices of broker services
If you have a specific idea, we will have to disappoint a bit. The fees are so diverse that it would be at least nefr to change any specific provision. Pesto can at least try to orientate yourself in this matter and find the points of reference that will help you in choosing a brokerage company.

The big difference is between the internet and the phone
The actual situation varies greatly depending on whether you take orders via the Internet or by phone. Therefore, think about how you will give your orders and what specific version of the obna.

Always care only about all inclusive If you ever ask a broker and another employee of a brokerage company for fees, always want to know the final price, or all inclusive. I am confused that the broker will tell you a certain amount, you will agree and later find out that he has already made it possible to go and give the fees that the broker did not change at the time of the arrest.

Whenever you can bargain
Yes, your deal is my bargain! It is not customary for all of them, but if you are looking for a broker in the USA, you will find someone really interesting and will not be included in the fee, then you will know that you would like a discount. The more you spend on discounts, the darker you will pay (you much) less than the rest!

So how much is at least piblin salary?
Let’s use two types of services for our business. For long-term, position and spread trades, we use the services of a certain Chicago brokerage company, sdlc directly in the stock exchange buildings. We pay our broker RT 35 USD all inclusive, which is not one of the best, but we get a patina of service for it. N broker nm our trades hld, moves nm according to the pre-set rules of stop-loss, the evening of execution nm confirms via SMS and at any time literally within minutes very willing to answer any questions.

We will very rarely pay for this quality of service. For intraday business, then use the online service and here we pay the amount of RT 5 USD (as you can see, differences in service prices can be really diametrical!). In the case of commodities, we do not recommend paying for a quality FS service more than 3040 USD, in the case of a discount not more than 2025 USD and in the case of online service, anything under 10 USD is available.

Of course, there are many commissions for very nron customers. Such includes various analytical studies, and the range of advice provided by an adequate commission is therefore warranted.

If you would like to learn about brokers and their selection, you can do so again, for example. on the website www.financnik.cz.

ryvek is from the book
“Trading on commodity markets”
vydan nakladatelstvm
City Publishing,
For more information, visit
www.grada.cz

ryvek is from the book
“Trading on commodity markets”
vydan nakladatelstvm
City Publishing,
For more information, visit
www.grada.cz

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