If you are interested in investing in the stock market and want advice, a full service brokerage may be an excellent option. If you want to invest but without the advice, consider a discount broker.
See some common questions and answers below
A brokerage is a company of brokers who will buy and sell assets for you. A brokerage account is an account opened through banks or brokerage firms that allows you to access the stock market.
If you want to invest in the stock market a brokerage account may be a simple way to do it. A broker will be able to advise you, although because their fees are generally based on buying and selling, you may want to be cautious.
If you want more advice than a marketplace investing site but are not ready to find a Registered Investment Advisor, a brokerage may be the best solution for you.
Brokerage fees can be a percentage of the transaction, a flat fee or a combination of the two. These can range from a discount broker fee (no advice) of $10 to an average full service broker fee of $150 per transaction. If you choose the percentage, it generally averages between 1% and 1.5% per transaction.
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