Types of stock brokers

Full-Service Stockbroker

A full-service stockbroker offers a variety of financial services to clients. Usually, clients are assigned individual licensed stockbrokers. The brokerage firms employ research departments providing analyst recommendations and access to initial public offerings (IPOs).

Full-service stockbrokers also provide services like financial planning, business and personal home loans, banking services, and asset management. Clients can either contact their personal stockbroker for trading options or use mobile and online platforms.

However, stockbrokers offering trading functions and online access charge higher commissions. Moreover, as the online platforms of full-service stockbrokers usually cater to long-term investors, the platforms provide fewer indicators and tools for day trading investors.

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