I will explain a stockbroker that I have found to be very useful. They provide a very effective and effecient service. There was the need to use these exact words as they these days it is very hard to give merit to a company.
A few years ago, I started dealing in shares. The interest came to me, when I started studying a module called Economics at University. I was just fascinated by the business world out there. I do have to state that this is before the collpase of Enron and Worldcom. As you will be aware, these companies have shattered the business world.
So, I started researching into companies and for stockbroker. I went through all the big names first, such as Barclays stockbrokers, Charles Schwabb, Hargreaves Lansdowns, StockAcademy and TD Waterhouse. I realised that all of these stockbrokers were charging similar commission charges.
There was the need to differentiate between the stockbrokers in terms of which one would be suited best to me.
At the start, I did make my mind up in that I was not going to make any long term investments. This is purely because of the short selling that has come into the market especially by the hedge funds. I registered with the listed stockbrokers then had a play about with their website. The most important thing I was looking for was the user-friendly interface which I did like when I registered with StockAcademy.
They do charge £15.00 commission per trade which is slightly high than the average figure I have gathered of £12.50.
The need to take up with this stockbroker was that the log-in process was very quick, one's portolio could be observed as you logged in. To buy a stock, you would type in the name of the company, enter the amount you would like to invest or the number of shares you would like to buy. After which, another screen would appear with the details you have chosen, and should you like to go ahead, then you would press the confirm button. A quote would be displayed for fifteen seconds in which a yes button or no button should be pressed.
The above description might sound trivial, as this is the process with most stockbrokers. However, what I have found is that I have never been let down in my three years of trading. Their website is always up and running, that is twenty-four hours a day. In addition, errors will not appear after you have selected a transaction.
My recommendation would be to give it a go. This is if you day trader who would like a realible service especially in the volatile market we are currently in.
With everything these days, that they is always room for improvement which is that they do not offer a service which would enable users to deal in foreign markets.
More details
Service accessibility
Excellent
Staff courtesy/helpfulness
Excellent
Quality of advice
Excellent
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