Types of stock brokers

Online Stockbroker

Also called a direct access stockbroker, an online stockbroker offers services to active day traders with the smallest commission – usually priced on a per-stock basis. Online stockbrokers offer direct access platforms with capabilities of routing and charting, and access to multiple exchanges, market makers, and electronic communication networks (ECN).

Also, online stockbrokers offer the advantages of access and speed, allowing executions of orders on point-and-click. The platforms also enable the placing of complex options and stock orders. The access to heavy-duty platforms usually comes with a monthly fee consisting of software and exchange fees; however, the software fees can be discounted or waived depending on the actual number of shares traded monthly by the client.

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