Is it better to work with a local full service broker or is it ok to work over the phone?
Best Answer
699 points
7million7years answered one year ago …
It's better to work with the cheapest online broker you can find ... brokers add zip value (just ask Warren Buffett what he thinks about middle-men), so the less you pay them, the better!
UNLESS: you don't know how to place complicated trades (e.g. your first few covered-calls, etc.) then it's OK to 'pay' a broker to teach you (BUT you can still sign up to Scottrade and visit their office for technical help @ $7 a trade ... so I'd go for something like that).
Answers
2769 points
Oldman answered one year ago …
7X7's answer is the best! Brokers earn money based upon your purchases and sales, and often of securities they have been instructed to sell/buy.
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546 points
warren answered one year ago …
If you have a broker you can trust and have the same phylosophy for me Austrian economic view then you can go with them, but really, do you trust and have confidenc in your abilities? If so go with the cheapest, safest online broker.
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