From the course: Financial Basics Everyone Should Know (2019)

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Setting up a brokerage account

Setting up a brokerage account

From the course: Financial Basics Everyone Should Know (2019)

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Setting up a brokerage account

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- [Instructor] To get started with investing on your own, you need to start by setting up a brokerage account. A brokerage account comes from firms like TD Ameritrade, E-Trade, Schwab, Morgan Stanley and many other firms that are out there. Basically, a brokerage account lets you buy and sell stocks easily and inexpensively. You have to have a brokerage account to buy stocks today. There is no other way essentially. There are many fine firms that offer brokerage accounts, but they generally fall into one of two categories, full service firms and discount firms. The full service firms generally offer more expensive stock and fund trading costs. A typical full service brokerage firm might charge somewhere between $30 and $100 to an investor for buying or selling a particular stock or ETF, but for the higher price, investors can get personalized assistance in making decisions about their portfolios, written research reports that offer insight from the firm on market conditions, in person…

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