A comparison between full time broker and a discount broker

discount broker

In order to avail the best out of your options in trading you need to have a brief understanding of the subject. But with the market flooded with numerous brokers it becomes really difficult to decide which broker you have to choose.

Full service brokers

Full service brokers as the name suggests goes on to provide full service to their clients. The moment you open an account with them you are allocated a dedicated account manager. They are going to churn in time to understand your personal objectives and devise a strategy.

The main benefit of a full time broker is self- explanatory. If you are new to trading options having someone to guide and support is of valuable essence. The entire more so if you lack confidence in your own decision making process. Their expertise and experience can be valuable assets for you and enhance the rate for you to improve and work on your skills.

Even if you do not have the time to conduct research then full time brokers can work out to be an apt choice. They can help you align with your financial objectives.

Discount brokers

To acquire the services of a discount broker is easy as there are fewer costs involved. The top discount brokers India are simply going to execute trades on your behalf. Once you have an account with a discount broker you are not going to have a personal interaction with anyone. They are just going to provide you with a platform for you to execute trades. The process of conducting the trade is as simple as far as possible.

The discount brokers offer attractive rates of commission to clients who conduct a lot of transactions on their platform. For traders that undertake a lot of trade discount brokers work out to be a perfect choice. Yes when you are availing the services of a discount broker you are at your own and there is no one to guide you. The onus is on you to identify the various trading opportunities and design a good fit as per your financial needs and personal goals.

A point to consider is that a lot of discount brokers might not have the tools or expertise to aid you in the process of decision making. But still if you are planning to use these tools then you have to shell out a few extra bucks

Which one to choose

From the discussion till now the difference between a full time broker and a discount broker are pretty clear. It is necessary to understand the difference between both of them, but still you can open an account with a broker and avail the service you require. Even the level of services can be changed at a later date.

What you are looking for would be of paramount importance in the choice of a discount broker and a full time service broker. But most of the brokers offer both the services.

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