Choosing The Best Options for the Best Brokers
A competitor will tell everything. Now the Central Bank is trying to give universal guidance to those who decided to try their luck in the stock market. For example, according to him, for a beginner and an experienced investor, the principles for choosing a broker can differ significantly. The use of review brokers is important now.
What should be considered when choosing a broker for trading on the MICEX?
If the first is most important the reliability of the broker and support, protection from possible risks, the second is the technological ability of the broker, the ability to quickly contact tips for choosing a stockbroker advisor or trader. But the size of the commissions is more relevant for those who are ready, according to the expert, to spend more than an hour a day on trading. Market participants are not so unambiguous about such a criterion for choosing a broker as his reputation. He recommends paying attention to the presence of professional awards at the broker.
Therefore, according to the analyst of investment company Natalya Milchakova, it is better to get information from friends who already had experience with this broker. Another option is to find out about the broker from its competitors. You can look at customer reviews, as advised by the Central Bank, but you should take into account one feature: Reliable does not mean a convenient rating, assets advice on choosing a stock management broker, shareholders, as well as the history of the stock market — all these criteria, the Banks surveyed say.
Tips for choosing a broker for a novice trader
In addition, the reliability of its services may depend on the size of the company. At the same time, the reliability of a broker does not always mean convenience and low fees.
This is the required minimum that is offered. The head of the ITI Capital customer support and consulting center, Yana Startseva, advises on choosing a stockbroker, what software and for which devices and operating systems the broker provides clients with, how intuitive it is, whether there are training materials on working with the software, how many servers are used.
The latter, in particular, is important, because, during periods of high volatility in the market, the load on software grows significantly. All the tips for choosing a stockbroker can tell you how comfortable and efficient it will be to trade through tips for choosing a stockbroker.
Tips for choosing a stockbroker
And the investment efficiency depends to a large extent on this. How not to go broke on tariffs How not to overpay on commissions? He recommends choosing companies offering several tariff plans: Standard tariffs are usually the cheapest.
Some options can be viewed. Additional costs for a broker’s client may arise not only during the sale or purchase of securities but also for other operations. Plus, paid may be SMS notifications. Another detail that market participants are advised to pay attention to is that the broker has its own bank.
If a broker happened to be suddenly, if a brokerage company goes bankrupt or the regulator revokes its license, then, by the logic of things, its customers should not suffer. According to the legislation, clients ’assets and funds are segregated from the property of the broker, and collection of debts of the broker cannot be imposed on them.