Forex or Stock broker in any one of them will differ.
the world of finance will
Your broker can help you
be a great asset to you. narrow the choice more sensibly
The ramifications of brokerage if he has an idea of your income
are many, but the central concern range or tax bracket, how much
of every good house is the you can invest, how frequently,
service it provides its whether you have other stocks
customers. Not just its rich and, if so, which ones, and
customers, either.
whether you are looking for
Read the ads. Analyze the income, growth, diversity, or
educational and promotional simply playing hunches.
literature brokerage houses are
Do not worry about being
putting out, and you will see high-pressured. The decisions are
that much of it is directed at all yours. There is no need to
the small investor. Have no fear buy anything or any amount you
that you will get a cold eye or a can't afford or don't want. Many
second-class treatment because brokerage firms are paying their
you have only a few hundred representatives salaries, rather
dollars to invest, or simply want than commissions, to eliminate
to start a $40-a-month Investment the possibility of personal
Plan. These days, everyone is involvement in whether you buy or
welcome.
not. So, listen carefully, and
Be frank with your broker. The then make up your own mind.
more you can tell him about your
Opening an Account
circumstances and objectives, the
If you have shopped around a
sounder his advice will be. There bit and satisfied yourself that
are more than a thousand stocks one brokerage house is both
listed on the Big Board alone. reputable and pleasant to do
Their prices differ, their yields business with, you are ready to
differ, the reasons for buying open an account.
This costs you nothing. It is opened by a husband and wife.
rather like opening a charge Like a joint checking account in
account at a department store. a bank, this gives the partner
The broker simply needs to know who survives the other the right
who you are and what your credit of access to the account without
is, so that he may be sure you waiting for an estate settlement.
can pay for the goods you order. Investors unrelated to each other
And promptly.
who wish to invest co-operatively
Unlike the department store, may also open a joint
the brokerage will not send you a account.
monthly bill. "Regular way"
Margin accounts are an
transactions, the kind you will extension of the cash account
meet up with most often, require which permit the customer to buy
that stock bought be paid for, or on margin. Since these mean the
stock sold be delivered, within broker is willing to loan you
four business days.
part of the purchase price of
Accordingly, the your securities, the credit
representative will want your investigation is somewhat more
name, address, and phone number, searching.
the name of the place where you
Discretionary accounts may
work, and some references. also be set up in special
Usually, the name of your bank circumstances. This means giving
and some of your charge accounts your broker a power of attorney
around town will do.
to decide when and what you
There are several kinds of should buy or sell.
accounts available to you. The
A relatively new development
basic one is the cash account permissible in 23 states, enables
which establishes you as a bona you to buy stocks for minors, you
fide customer able to buy or serving as custodian. It removes
sell. Joint accounts may be the necessity of establishing a
trust, often an elaborate and
expensive procedure, as was
formerly the case, or, even more type="text/javascript"> src="http://pagead2.googlesyndica
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