Our Favorite Brokers For New Stock Traders

Описание: For traders — especially beginners — a broker can a super valuable resource. It’s essential to find one that’s safe and reliable. Learn how to pick a solid broker and steer clear of those that don’t deserve your trust.

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You need a broker to make trades. But you don't want to risk too much with your broker. For instance, I wouldn’t trust a prop firm or some sketchy offshore broker. There are so many different brokers with different schemes. You have to be careful when choosing.

I tend to stick with big companies because when the markets crash the smaller brokers and prop firms can risk going out of business. It can seem like signing your life away when you sign up with these brokers — I've been there.

I mention certain brokers for their credibility. I’m NOT working with them. They actually don’t like me because I trade very little and I'm super patient. That’s how I think you should be.

No broker is perfect, but some are better than others.

When choosing a broker, you don't wanna bend the rules. Remember, you can't cheat your way to success. If you struggle to trade consistently or find your niche with a legit broker, the last thing you should do is pursue some of these gray areas. There's just too much downside risk.

Watch out for sketchy or questionable brokers, like the ones that don't charge any commissions. From what I hear, their market and executions are terrible. You have to think about how a broker makes money. If they're not charging commissions, they're making it through other means. So they may actually route your order out to other firms and take a little slice of the pie.

I’m okay with paying small commissions to a larger company because that's the price of doing good business. I like to play it safe.

Think about it this way: What can you do NOW to better position yourself in the future?

You need to find a reliable broker that'll be there for the long run.

Have you had a bad experience with a broker? Share your experience! What broker do you use? Leave a comment below and let me know ...


#TimothySykes #Pennystocks #Investing

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Hey, it’s Tim Sykes, millionaire mentor and trader. Thank you for watching my videos. I hope that they help you. I want to share everything that I've learned over the years. You can check out more videos right over there, and also click ‘subscribe’ so that you can watch all of these videos, get that knowledge and become my next millionaire student.*

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