In his quest to find a stock broker you may have received stock broker referral of your friends or family members, and this might be you with the best intentions. As stock tips from friends and family, however, many times these referrals do not work, because they are not always a perfect match for your personal situation. Here are three quick things you can do to save time with any stock broker referral you are given:
1) Know your personality when it comes to money and investments. Are you afraid to lose any money? Are you satisfied with the risk? Do you prefer the faster turnover, or do you like holding the position for the long term? What is your market knowledge? Will you increase your understanding of the market with individual studies? All these questions will force you to think seriously about their emotional relationship with money and will help you display stock brokers who do not fit your personality.
1) Know your personality when it comes to money and investments. Are you afraid to lose any money? Are you satisfied with the risk? Do you prefer the faster turnover, or do you like holding the position for the long term? What is your market knowledge? Will you increase your understanding of the market with individual studies? All these questions will force you to think seriously about their emotional relationship with money and will help you display stock brokers who do not fit your personality.
...3) Do a quick background check on brokers. You can view the personal history of any licensed stock broker by going to websites and regulators to find out if the broker has any history of securities violations.
address these three tips and you will go a long way toward selecting a stock broker who has a clean record, suits your personality and matches your goals. From there you can ask questions about fees and charges, services offered (research, trading software platforms, etc.), and other specific issues or concerns you May have.
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