Two types of brokers

Two types of brokers: 1. Full service stock brokers: they give you more personalized attention. The broker understands what your investment goals are and can offer recommendations on what and when to buy and sell. However, because their commissions can run as high as $100 per trade, this type of account works best for those with high net-worth and minimal activity. 2. Discount brokerage firm: Discount brokers do not offer the same level of service but they are still available to answer your questions. They execute trades for as low as 50c to $10, with commissions that are low, thereby leaving you with more money to work with.