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A Guide for Selection of Online Stock Exchange Broker

By Jemes Smith Subscribe to RSS | June 12th 2012 | Views:
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An online stock exchange broker may be a person or automated. Both choices have their corresponding strong and weak points. Now more than ever, people have gotten more interested in trading stocks and currencies after realizing that there’s real money being exchanged back and forth behind all those seemingly obscure numbers and indices.

Should you choose a person or robot?

Now the crux of the issue is at hand. Beginners who have no idea of the market are more comfortable on having a broker do the trading for them. Naturally, this offers several disadvantages. The first obviously is you don’t have control over your account. It takes a lot of gumption to entrust to somebody, a virtual stranger at that, to handle your hard-earned money. It must be noted, however, that the risk is minimized if you go to the best stock market brokers online as they have the history and experience to turn your investment into a profit.

Automated trading platforms, meanwhile, offer you flexibility and total control of your money. Before choosing this artificial intelligence software’s, you do need to have a working knowledge of how stocks and Forex operate because you can’t rely on stock market brokers to cushion the negative consequence resulting from unfamiliarity.

How much can you risk?

Next, you really have to take a stock of how much can you risk on the volatility of the financial market. Different stock market brokers have their standards on minimum amount of investment required of you. This can run up to thousands of dollars. In contrast, automated platforms allow a minimal deposit fee and transaction size which allows you to start going with a minimum margin to risk.

Just remember that whether you choose live stock brokers or automated platforms, everybody is still governed by the same rules. You learn all those rules and make them work for you.

Are you a day trader or Swinger?

Now, you need to make a decision if you want to be a day trader or you want to be an active trader, or known in the industry as a swing trader. If you decide on the former, online platforms are an ideal tool to help you. Day trading involves closing transactions the same day. But there are others who want to sit on their stocks for a longer period of time. They may need the services of stock exchange brokers on this one.

As you can see, there are some hard decisions to make before you venture into interesting world of stocks. You need to study all the quotes and indicators, charts, positions and spread, balance, trailing stops. And that’s just for the data feed and order entry system. Then you also have to study geopolitical and economic issues as well as current events that will influence your account. Whether you choose online brokers or automated platforms, you still have to know the ins and outs of stock trading.

Jemes Smith - About Author:
Easy-forex.com offers online trading in simple way. For more details click here stock exchange broker, stock market brokers and stock exchange brokers.

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