| If you have ever been confused as to how to get | | | | allow for more "self-directed" activities. |
| started selecting a stock broker, here are five quick | | | | 3) Ask yourself how much risk you are willing to |
| tips to help you as you begin your searching: | | | | take. This is a BIG one and gets right to the heart of |
| 1) Know your goals! If you know what you want to | | | | many of the rules by which brokerage firms must |
| accomplish, then choosing someone to help you will | | | | comply, including the "Know Your Customer Rule." |
| be much easier because you will know the right | | | | Once you are comfortable with your pre-set level of |
| questions to ask. Would you be happy with a 10% | | | | risk, you can make MUCH more informed decisions. |
| return with a maximum amount of risk? Do you want | | | | 4) Ask for referrals from people you know with the |
| to day trade futures and attempt to make large | | | | SAME goals and risk tolerances. A recommended |
| rates of return? Do you want to have someone | | | | broker, with an emphasis on high-frequency day |
| make all of the decisions for you so that you do not | | | | trading, probably is not going to give you the same |
| have to spend the time to learn the market's | | | | sort of research and customer service if you have a |
| nuances? Ask yourself the appropriate questions so | | | | longer-term time horizon for your trades and you |
| that you can choose the correct broker or other | | | | highly value customer attention from your broker. |
| services (software, subscription services, etc.) for | | | | Choose referrals from those with the same goals |
| your specific goals. | | | | you have. |
| 2) Ask yourself how much time you are willing to | | | | 5) Check on your broker. The regulators in the U.S. |
| invest in managing your finances. If it is very little as | | | | offer you a chance to review brokerage firms and |
| you have other responsibilities or obligations or | | | | their brokers. Here is the link: (or |
| interests, consider managed account services. If you | | | | Hopefully these quick tips will help you find the right |
| are willing to be more hands-on, consider firms which | | | | broker for your needs! |