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There are a couple of things to consider before you start looking for a broker, such as how much money you would like to invest in the market or whether or not you will need help to decide which shares to invest in. Read theimportant considerationsbefore you start trading.
The main difference between brokers is whether they offer advice or not, they are either:
Offering advice on buying and selling securities, make recommendations, provide research and compile tailored investment plans. They typically charge a higher brokerage fee as a result of the advice and other services offered. Accredited advisers are also available for options,warrantsandfutures.
Offering no recommendations or advice regarding the appropriateness of your decision, hence their brokerage fees tend to be lower. This is an attractive option for investors confident in their sharemarket knowledge and trading decisions. They are typically either internet based or telephone based.
The ASX Groups activities span primary and secondary market services, including capital formation and hedging, trading and price discovery (Australian Securities Exchange) central counter party risk transfer (ASX Clearing Corporation); and securities settlement for both the equities and fixed income markets (ASX Settlement Corporation).