Choosing a stock broker

Types of Stockbrokers...

There are 2 types of stockbrokers namely

-Full Service Broker (Advisory): A full service stockbroker not only gives you information on your trading in shares but also acts as your financial planner. He also advices on your investment portfolio. As they give you advice too, their charges are a little more.

Ask a Full Service Broker...

-The style of his investment.
-The charges for his services provided.
-Communication with clients, whether daily, weekly monthly, any newsletters sent.
-Capability of his research.
-If he has access to floats.
-How often your portfolio will be reviewed.

-Discount Broker (Non-advisory): They generally operate through the phone, the internet or through both. Their main job is to only execute your order. They do not provide any kind of advice to you. Due to this their fees are also less compared to a full service broker.

Ask a Discount Broker...

-His charges of buying and selling shares.
-Way of contacting him i.e. through the phone or the Internet.
-Any special cash management account needed for trading.
-Any value added services offered.
-Any discounts for a regular trader.
-Any monthly subscription fees.

Choosing a broker depends on you, if you don't need any advice on trading, then you can go in for a discount broker. But if you are a first timer in the trading market, it's always better to go in for a full service broker.

List of Stockbrokers...

-Bell Potter
Level 29
101 Collins Street
Melbourne VIC 3000
Ph: +61 3 9256 8700

They are located at Adelaide, Brisbane, Cairns, Geelong, Gold Coast, Hobart, Sydney, Perth, Mackay, Mornington, Toowoomba and Wollongong as well.

-Sanford Securities
Australian Investment Exchange Ltd
PO Box 7428
Cloisters Square WA 6850
Ph: 1300 360 892

-Commonwealth Securities
Locked Bag 22
Australia Square NSW 1215
Ph: 13 15 19

-E*TRADE Australia
Level 7
10 Bridge Street
Sydney NSW 2000
Ph: 1300 658 355