Stock brokers act as intermediaries between customers and stock exchanges. Individuals and corporations can only buy or sell stock through a brokerage house. After gathering information about clients' financial capabilities and needs, stock brokers help determine the best investments. This is done to determine the level of risk that the client is willing to take.
The order is then sent by the broker to the floor via phone or computer. The broker will then provide the client with the price once the transaction has been completed. Stock brokers make their money by charging commissions for every transaction they handle. The term brokerage is the name of their commission and is added to the service a broker offers its clients. You can get more information about best stock brokers in Kenya at https://360capitalltd.com/the-best-forex-broker-in-kenya/.
A college degree is not necessary to become a stockbroker, but almost all brokers have one, as this job requires extensive stock market investing education. Stock brokers also need to be licensed. Most take the test after being employed for at least four months by a brokerage company where they have received on-the job training.
Before you decide which type of stock broker to use for investing in the stock markets, you need to first decide whether you want a full-service broker or a discount broker. Full-service brokers can offer a wide range of financial products as well as investment advice and strategies.