Know Your Brokerage and What Stocks to Buy
May 31, 2010 Blogging Money, Tips
Speed and execution quality of trades
If you are going to be “scalping” or “day trading”, this is going to be very important. The speed of the trading platform that you will be using must be as fast as possible. Know what stocks to buy.
Customer Support/Service
The level of customer service across the different online brokers can vary greatly. Refer to online reviews of customer service for the different brokerage houses.
Get the customer service number for the brokerage house and test them. See how quickly each one answers the telephone. Make sure they have email options and live chat options Do you want to speak only with your broker or do you want a customer service department/ tech support 24 hours a day?
* Make sure the online broker has deposits backed by the SIPC.