Best Online Stock Brokerage Tier List (The BEST Stock Brokers in 2022)
What is a Stockbroker?
the term stockbroker has been used so frequently that I'm sure most of you have heard it at one time or another, but what exactly is a stockbroker what does and why investors need it here's what we will explain in this videos we post investor training videos every week so if you are new to lumo vest consider subscribing to our youtube channel.
a stock broker is a professional who executes buy and sell orders on behalf of clients who don't invest in yours on behalf instead they just implement your investment decisions if you want me to buy Apple at $ 230 per share they will execute the order for you if you want them to sell Apple automatically when it goes up to $ 300 they will do it for you too. what they don't do is they don't do the investment analysis for you stock brokers are not investment analysts they do not do the analysis for you you and actually execute your decisions you have to do it yourself for
determine which stock to buy and if you don't know how to analyze the stocks take a look at the courses on our website you will learn how to analyze the financial data of the company evaluate its business quality, estimate a stock valuation and many other important concepts.
it used to be that anyone who wants to invest in stocks has to go through a human stockbroker who will process or buy and sell orders for this reason. stockbrokers have played an absolutely critical role in the stock market. and that's why everyone hears the word stockbroker all the time that it was impossible to invest in stocks otherwise in the old days because your investments won't be processed, that's no longer the case nowadays with the rise of the internet this profession has largely been replaced with computers, the buy and sell order sent by everyday investors like you and me are electronically processed by computers instead of humans you can buy and sell stocks with a click of a button on your computer without having to go through another.
everyday investors will practically no longer interact with human stock brokers there are still stock brokerage firms like Robin Hood Charles Schwab etrade Scott Reed TD Ameritrade infidelity where we can open accounts and place buy and sell orders and they will execute them for us but these.
now they are processed electronically by computers, so when you hear that choosing a stockbroker refers to choosing a stock brokerage firm that chooses a company that will handle the buy and sell orders of the shares, but the profession of agent stockbrokers still exist, but instead of serving everyday investors they only serve institutional investor companies with millions and billions of dollars making much larger investments that require personalized service for these clients institutional,
the job of stock brokers is to find their clients at the best possible price in which to buy and sell the shares their clients have won, today's stock brokers must be very knowledgeable in the markets they must know the major players in the market not only who they are, but to actually be able to communicate with them they need to know the whispers in the market like what different players are looking to buy and sell so that they can get their customers the best price based on the pay scale the salary average of a stock broker in the US. is $ 54,000 please note this is salary only as part of the total compensation package there may also be additional payment mechanisms such as your final bonus and commissions but even if you only look at salary base is well above the US national median salary of around $ 31,000.
so how to become a stock broker in the movie The Pursuit of Happiness with Will Smith, the main character Chris Gardner went through a long journey and eventually landed his job as a stockbroker with no college degrees and no previous day financial experience Today to become a stockbroker in the United States you usually need to have a col lege degree you are hired by a company that will sponsor you for an industry license exam and then you have to pass that license exam in the US the exam is called series 7 series 7 is not a joke the material is not difficult to understand but there is a huge amount of content that you will have to absorb other countries will have their exams so this is an overview of what a stockbroker is.
