Brokerage Accounts

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Brokerage Accounts
R?I?T Financial Management Association
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What is a brokerage account?

• Financial institution where you deposit money in
  order to place stock orders

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Full Service Brokerages vs. Discount Brokerages
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Full Service Brokerage

• Agents attend to account holders needs
• Involved in suggesting investment ideas
• Manage your account
• Charge high rates to trade stocks
• Less control over your portfolio

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Discount Brokerages

• Substantially lower fees per trade!
• Make your own investment decisions
• Manage your own account

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Which one? Ultimately its your decision
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Things to Know Before Opening a Brokerage Account

• Fees for different trades
• Margin rates

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Shopping for Brokerages

• Begin your search!
• Scottrade
• Firstrade
• OptionsXpress
• TradeKing
• ETrade
• Etc

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Mikes Brokerage Horror Stories
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Upcoming Trend?Can someone say Free Trades!
(But are they really free)

• Zecco.com
• Bank of America