| A Forex or Stock broker in the world of finance will | | | | delivered, within four business days. |
| be a great asset to you. | | | | Accordingly, the representative will want your name, |
| The ramifications of brokerage are many, but the | | | | address, and phone number, the name of the place |
| central concern of every good house is the service it | | | | where you work, and some references. Usually, the |
| provides its customers. Not just its rich customers, | | | | name of your bank and some of your charge |
| either. | | | | accounts around town will do. |
| Read the ads. Analyze the educational and | | | | There are several kinds of accounts available to you. |
| promotional literature brokerage houses are putting | | | | The basic one is the cash account which establishes |
| out, and you will see that much of it is directed at | | | | you as a bona fide customer able to buy or sell. Joint |
| the small investor. Have no fear that you will get a | | | | accounts may be opened by a husband and wife. |
| cold eye or a second-class treatment because you | | | | Like a joint checking account in a bank, this gives the |
| have only a few hundred dollars to invest, or simply | | | | partner who survives the other the right of access |
| want to start a $40-a-month Investment Plan. These | | | | to the account without waiting for an estate |
| days, everyone is welcome. | | | | settlement. Investors unrelated to each other who |
| Be frank with your broker. The more you can tell him | | | | wish to invest co-operatively may also open a joint |
| about your circumstances and objectives, the | | | | account. |
| sounder his advice will be. There are more than a | | | | Margin accounts are an extension of the cash |
| thousand stocks listed on the Big Board alone. Their | | | | account which permit the customer to buy on margin. |
| prices differ, their yields differ, the reasons for buying | | | | Since these mean the broker is willing to loan you |
| any one of them will differ. | | | | part of the purchase price of your securities, the |
| Your broker can help you narrow the choice more | | | | credit investigation is somewhat more searching. |
| sensibly if he has an idea of your income range or | | | | Discretionary accounts may also be set up in special |
| tax bracket, how much you can invest, how | | | | circumstances. This means giving your broker a |
| frequently, whether you have other stocks and, if | | | | power of attorney to decide when and what you |
| so, which ones, and whether you are looking for | | | | should buy or sell. |
| income, growth, diversity, or simply playing hunches. | | | | A relatively new development permissible in 23 |
| Do not worry about being high-pressured. The | | | | states, enables you to buy stocks for minors, you |
| decisions are all yours. There is no need to buy | | | | serving as custodian. It removes the necessity of |
| anything or any amount you can't afford or don't | | | | establishing a trust, often an elaborate and expensive |
| want. Many brokerage firms are paying their | | | | procedure, as was formerly the case, or, even more |
| representatives salaries, rather than commissions, to | | | | awkwardly, getting a court order appointing yourself |
| eliminate the possibility of personal involvement in | | | | your own child's guardian. |
| whether you buy or not. So, listen carefully, and then | | | | Commissions |
| make up your own mind. | | | | The broker's commission is exacted on both sides of |
| Opening an Account | | | | each transaction. The buyer pays his broker, the |
| If you have shopped around a bit and satisfied | | | | seller his. In addition, the seller pays a Federal transfer |
| yourself that one brokerage house is both reputable | | | | tax, a state transfer tax in New York, Florida, South |
| and pleasant to do business with, you are ready to | | | | Carolina and Texas, and a Securities and Exchange |
| open an account. | | | | Commission registration fee In 1958, by a vote of a |
| This costs you nothing. It is rather like opening a | | | | majority of the members, commissions on the New |
| charge account at a department store. The broker | | | | York Stock Exchange were raised,on the ground that |
| simply needs to know who you are and what your | | | | the costs of the broker's research, accounting,and |
| credit is, so that he may be sure you can pay for | | | | other services were not being met by existing |
| the goods you order. And promptly. | | | | commissions. |
| Unlike the department store, the brokerage will not | | | | If you are investing in the Forex make sure you |
| send you a monthly bill. "Regular way" transactions, | | | | have good Forex software to maximise your gains |
| the kind you will meet up with most often, require | | | | and reduce your losses. |
| that stock bought be paid for, or stock sold be | | | | |