Published it Up to date
(Boursier.com) — Want to get started in the financial markets? Is your current broker not suitable for you (unresponsive trading platform, lack of tools, exorbitant fees, etc.)?
Follow our advice to choose the online broker you need!
1. Choose a stockbroker that offers a wide range of services
A full-service broker is ideal for novice investors… With the help it provides, you will gradually gain confidence and learn everything you need to know about the financial markets.
Make sure your broker can provide you with:
-educational resources (webinars, training videos, etc.)
-a phone number or online chat to ask all your questions.
Experienced investors, on the other hand, can choose a broker who does not offer these services and therefore charges slightly lower prices…
2. Select a broker site or application that is permanently available
It is essential to be able to manage your assets anytime, anywhere… Check that the connection works during business hours, but also in the evenings and at weekends. Test availability with several terminals (computer, smartphone, tablet) and by telephone.
3. Ensure the broker’s seriousness and reputation
Take the time to check certain items such as:
– The online broker’s authorization to carry out its activities in France.
-The head office and the jurisdiction under which it belongs. Prefer professionals operating in Paris or in a European financial center that is considered reliable.
– The broker’s reputation.
4. No, price is not everything!
Low prices or, on the contrary, the high price of operations is not the only criterion to remember… Be sure of the range of services and their individual pricing. Check that the transactions you wish to complete are covered by the advertised prices…
5. Be aware of the conditions for opening an account with an online exchange
Some brokerage firms require:
-a high minimum deposit amount.
-a minimum number of orders to take advantage of certain services.
These conditions are not suitable for all types of traders!
6. Confirm that the available products and order range match your needs
Buying French shares is not the only option in the stock market. You can invest in other markets and in different products such as bonds, ETFs, CFDs, SICAVs and FCPs, options and exchange products, etc. But we can never repeat this enough: choose operations and products that you understand , before you get started!
If you are a proprietary trader, you may need certain types of orders that not all brokers necessarily offer: best limit, limit, stop orders, etc.
7. Choose a trading platform that suits your profile
If you are looking for relevant real-time graphical analysis or if you are a stock screener fan, you should access platforms like Meta Trader for example. You can also use an easy-to-use homemade platform…
8. Choose fee-paying brokerage accounts
Some brokers offer remuneration for your cash in your securities account. Don’t deprive yourself of it!