What's a decent forex broker which is not a seedy bucket shop but still not to high priced?
Q. What's a decent forex broker which is not a seedy bucket shop but still not to high priced? I want something that I can start off with with around $500 or so just so I can learn the ropes and make my little trades. I've read warnings about certain forex brokers which are unregulated bucket shops and aren't insured properly either. But are there any decent forex brokers which don't charge terribly high fees but still are decent?
Asked by hildy popa - Tue Jun 8 10:37:49 2010 - - 1 Answers - 0 Comments

A. First, you aren't going to be a talking to a broker. With forex, you will have an account with a dealer who will be taking the other side of your trades. Second, since they are dealers, they make their money off the spread, not by charging fees or commissions. Third, they are not banks or brokers, so there is no such thing as "proper insurance". If you want to learn how the trades work google "forex" and you will see a list of dealers. Any legit dealer will give you a demo account free for 30 days. Since forex is not governed by law anybody can be a forex dealer, but all the legitimate ones voluntarily register with the National Futures Association even though they don't have to because they are not actually futures brokers. If you… [cont.]
Answered by idalia kenneally - Tue Jun 8 23:33:38 2010

How does a principal broker for a real estate company get paid?
Q. I am thinking of starting a real estate company in Tennessee. What is a fair way of paying a principal broker? Do they typically get paid a salary or percentage of what agents produce? I am a licensed broker, but do not wish to be the principal.
Asked by ness - Fri Oct 26 13:22:17 2007 - - 2 Answers - 0 Comments

A. Most often, they get a piece of every transaction in the office. Their license is on the line for it. Of course, broker/owners who don't want to be principal are usually playing rope-a-dope, so whatever you can get your dope to agree to. If your practices and supervision and training were up to the task, there wouldn't be any need to pay the dope, would there?
Answered by Searchlight Crusade - Fri Oct 26 14:02:26 2007

Does becoming a licensed real estate agent/broker before buying your home save you money?
Q. I am planning to buy a home around $700K in New York City. I'm wondering if I will save any money by becoming a licensed real estate agent/broker (I realize I have to take the test and pass) and then purchasing the home for myself. I would think that by doing this, I would save the broker commission that I would otherwise be paying another real estate agent/broker. Is this a valid assumption? Please provide any information about this. Thanks a lot.
Asked by eldhose98 - Mon Aug 17 11:38:19 2009 - - 4 Answers - 0 Comments

A. The last person that answered and said it is not possible to collect a commission if you are the principle is incorrect. They may want to check their source. I am an active real estate agent. I have bought 2 homes that were my primary residence in the last 7 years. Each time I represented myself as the buyer's real estate agent. Each time I deducted my commission from the price of the home because that is how I wanted to get paid. But I had the option to get paid the normal 3% as the buyer's agent and have that money go through my broker and their commission split to be taken out. So in order to avoid all that, most brokers allow their agents to have at least 1 personal transaction in order to benefit from it. Maybe things are… [cont.]
Answered by Ohno - Mon Aug 17 23:48:47 2009

What is an online stock broker that allows kids to get accounts with a cosign?
Q. I am a 13 year old kid, but really want to invest in the stock market. My parents will cosign but I want to invest online. As far as I have looked, I have not been able to find an online broker that allows you to do this. If any one knows an online broker that allows this, please answer.
Asked by k.n - Tue Jul 8 20:05:00 2008 - - 1 Answers - 0 Comments

A. you must be 18 to open an account PERIOD, that is the Law. You can, however, open up an UGMA (unified gift to minors account) with a parent as a Custodian, and then at a designated age, between 18-25, the account becomes yours. Every brokerage firm can and will set up and account in this manner. Good luck!
Answered by B - Tue Jul 8 22:11:09 2008

How do I broker a partnership between two tech companies who s services will compliment each other?
Q. Thought of cool way two leading companies could combine a service which would benefit them both. I am not a professional broker but would like to propose my ideas and/or possibly develop software which would couple the services. I would like to obtain some financial gain as the proposal will augment features as well as create a new revenue point.
Asked by Wokenpanub - Sat Dec 13 09:25:47 2008 - - 1 Answers - 0 Comments

A. first thing is to get a confidentiality/non compete so you can initiate discussions, then get them to sign an exclusive brokerage agreement.Better see an atty for this, particularly since you have never brokered a deal. There is a lot to know.
Answered by jwishz - Mon Dec 15 17:45:43 2008

How do I find a broker for a specific stock?
Q. How do I find a stock broker that offers a specific stock? I have my eye on one, but my current broker doesn't offer it. I'm assuming my only option is to find the right broker, but that seems like a needle-in-the-haystack type job. Are there any sources that have a search-able database of brokers and stocks? To clarify: My current broker is an online Forex broker. They offer trades on Nasdaq, Dow Jones, S&P, and DAX, but only a limited list of about 30 individual stocks.
Asked by Coronos - Tue Jul 21 00:48:52 2009 - - 4 Answers - 0 Comments

A. Yes, I would agree that most reputable stock brokers should be able to offer you more than 30 stocks. He must not be licenced to offer a wide range of products. You can do it yourself online or find a full service advisor.
Answered by Brian W - Tue Jul 21 14:19:42 2009

What is the advantage of using a broker as opposed to a carrier for hauling freight?
Q. When dealing with transportation and moving full truck load and LTL freight throughout the U.S., what is the advantage with using a broker? Some companies say they love using brokers, others say they hate them. Why would you and why wouldn't you?
Asked by Thomas Z - Tue Jul 29 08:28:31 2008 - - 2 Answers - 0 Comments

A. Using a broker... the load gets hauled by whoever has the truck available, and at the best (?) price. Using a carrier... you will probably have more reliable service, and be able to build a working relationship with the company. Basically... if you have lots of freight to move, and often... work with a carrier... if your freight is sporadic or infrequent, try working with a broker.
Answered by short shrimp - Tue Jul 29 10:25:27 2008

How do I get my real estate commission from my old broker?
Q. I was working with another broker when a couple of my sales were done. I changed brokers during that time and thought I would get my split when the money went to the old brokerage. I saw that the sales were included in the productions list, but I still haven't received my share of the commission. I have already tried calling and asking the broker. Is there any other way I can get my split?
Asked by Thomas T - Thu Feb 12 23:14:51 2009 - - 3 Answers - 0 Comments

A. What did your contract with the previous broker say? There is usually a time limit on commissions paid after you leave. If you left on Jan 1 and it was a 30 day clause, and the closing was on Feb 3 you aren't going to be entitled to it. If you are entitled, send a letter via Fed Ex or registered mail requesting your commission. If they still refuse to give it to you file a complaint with the real estate board in your state.
Answered by HEATHER - Thu Feb 12 23:20:15 2009

What does "sponsored by a broker" mean when pertaining to receiving a real estate salesperson license?
Q. One of the requirements for attaining a Louisiana Real Estate license is "Be sponsored by a licenses real estate broker". Does this mean employed by? Have a signed agreement? What?
Asked by JHCRF - Sat Sep 6 17:20:07 2008 - - 4 Answers - 0 Comments

A. You have to hang your license with a broker for the license to be valid. Essentially, work for a broker, although it will most likely be you paying him, not the other way around.
Answered by Landlord - Sat Sep 6 17:52:36 2008

How does a Canadian business find an advertising broker in Canada?
Q. I'm trying to find an advertising broker in Canada. I want to advertise in Canadian mags like loulou, flare, chatelaine, canadian living. I heard it's cheaper to do this through a broker - anyone know any companies that do that?
Asked by Ivo Rush - Sun Feb 11 16:00:49 2007 - - 3 Answers - 0 Comments

A. If you look in the front pages of most Canadian magazines, for instance Canadian Living Magazine it will give a complete breakdown of Departments and contact people for them, including sales and on line sales, etc. If you are interested in advertising in any particular magazine you should find out what companies they deal with. and contact them. I'm sure you could get the info you need from the magazine staff.
Answered by SAWGIRL - Wed Feb 14 19:29:56 2007

Can you become licensed to broker stocks/mutual funds independently?
Q. I've successfuuly worked in the the insurance business for the past 4 years, captive to my current company due to my current contract. I have thought about going out on my own as a totally independent agent offering Life/Health/Accident, (including long term care) but I also am interested in financial and estate planning. How do you become licensed "independently" to broker mutual funds/stocks? I do not want to be tied to one company, selling on that companies needs instead of my client's needs. I feel being totally independent is the only way for me to go. Suggestions? Comments? Answers?
Asked by James E - Wed Apr 4 20:41:25 2007 - - 2 Answers - 0 Comments

A. In order to sell mutual funds and/or stocks, you need licenses from the NASD. If you want to be able to sell anything - i.e. stocks, managed accounts, wrap accounts, etc. - you'll need your Series 66 and Series 7 licenses. You can go to Kaplan Financial's website to find classes and testing times in your area. The tests and classes can be very expensive though. When I took my Series 66, I studied for about a month and for the Series 7, I studied for about three months. You do need to have a broker/dealer, however most of them will have an "open architecture" policy that allows you to sell a variety of products. In that manner, It's not like many firms in the insurance industry. Also, many B/D's will pay for at least a part of the… [cont.]
Answered by Celo - Thu Apr 5 00:08:43 2007

Must I work to open accounts for senior broker after getting licensed?
Q. I am working as a stock broker trainee for a firm. They are paying me a small stipend till I pass my series 7 and am licensed to trade. From thereon, I have to first open 50 accounts for my senior broker and then I can open my own accounts. My question is, can I simply just leave the firm to another firm and start working for myself? Does every firm require a new broker to open a large number of accounts for the senior broker?
Asked by scir - Tue Apr 22 05:38:05 2008 - - 1 Answers - 0 Comments

A. its the same everywhere you need to prove you can open accounts to company when you work as a broker afterwards the company will place targets you have to meet similar to the 50 accounts but more difficult so dont shy away from it, its how you make $$ after 50 accounts you should feel as comfortable opening accounts as tieing your shoes
Answered by jonas s - Tue Apr 22 07:49:27 2008

How do i become a stock broker?What is a stock broker?
Q. What education do i need to become a stock broker? Is a stock broker someone that sells share of companies to people and gets them to buy it, and puts the order through the computer and gets a commission when they buy and sell the stock.? What degree do they need, I know you need a series 7 license. Also what is the estimated salary for a stock broker?
Asked by JG - Thu Jul 1 15:44:18 2010 - - 3 Answers - 0 Comments

A. Most stock brokers that are with wire houses or regular brokerage firms are not salaried, they work on commissions and/or markups Stock brokers that are registered with banks are usually paid a salary, which is considered to be decent but a bank broker does not make as much as broker with a regular brokerage firm In the US - You need to be an employee of a Broker/Dealer so they can sponsor you in order to become a licensed stock broker. Firms usually want college graduates, but it is not really necessary nor really a requirement but many firms like it and make it their requirement. Bank broker/dealers usually want all the sales reps to be college graduates. Your college major is not important, (No courses in the Academic world… [cont.]
Answered by A nobody - Thu Jul 1 15:50:36 2010

How do I become a mortgage broker or mortgage agent in California?
Q. I am fresh out of a college. Not just any college; a community college. And I need step by step how to become a mortgage broker or mortgage agent please. Thanks alot.
Asked by Nelson - Thu May 17 20:17:20 2007 - - 3 Answers - 1 Comments

A. Get a job at the Mortgage Broker Office. at first, you'll just answer phone calls and all, but eventually, you'll either be a processor or agent.
Answered by nostalgia80 - Thu May 17 20:21:24 2007

What is the difference between a broker or brokerage account?
Q. I want to buy and manage my stocks my own. But this is the first time ever done this. So can some help explain to me the difference between broker or brokerage account? Also, if possible guide me to the right direction on buying my first stocks.
Asked by Connor O - Mon Sep 17 21:46:21 2007 - - 1 Answers - 0 Comments

A. If you don't know the difference between a broker (the person who will sell your stocks and mutual funds for you) and a brokerage account (the type of account you need in order to buys stocks), then you should not be buying and selling stocks on your own. You need to be educated before dipping your money into the market on your own. So many people think it is so easy to make money in the market and that they can do it on their own instead of paying someone who does that for a living to give them advice. When you are sick do you assume you can cure yourself on your own or do you go to the Doctor's? If you choose to invest on your own, make sure you do your research first. Good luck
Answered by dfrank04401 - Tue Sep 18 09:21:41 2007

Is there a cost to acat transfers securities from one broker to another? Who charges it?
Q. I want to transfer my securities from etrade to another broker. Is there generally a fee associated with this? If so, who would be charging it- etrade, the new broker, or both? Also if you know how much it is please include that in your answer. Thanks.
Asked by John - Sat Jul 11 02:27:39 2009 - - 1 Answers - 0 Comments

A. Securities brokers have a process called ACATS (Automated Customer Account Transfer Service) that is managed by the NSCC (National Securities Clearing Corporation) for moving open positions and cash from one broker to another. An ACATS transfer essentially takes your account from one broker and replicates it, including your open positions, with another broker. Your old broker can charge you for initiating an ACATS process. Most of the time this fee is between $50-$100 per account. However, this may not be an issue at all. Keep in mind that your new broker wants your business. It is very likely that they will reimburse you for this expense but you have to ask for it. Don't hesitate to find out whether they will cover these costs for you.
Answered by Kylash - Sat Jul 11 02:40:06 2009

What licenses or credentials are needed to be a bond broker?
Q. Does one have to be a Certified Financial Analyst to be a bond broker. How long does it take to qualify to be a bond broker?
Asked by flasc - Fri Aug 17 12:19:36 2007 - - 1 Answers - 0 Comments

A. securities dealer license. Each state issues them. Requires a bond and a test. I do not THINK a CFA is associated with being such a dealer.
Answered by kemperk - Tue Aug 21 14:15:57 2007

What is the difference between an automobile broker and a dealer?
Q. Are the licensing requirements different? I want to start buying and selling used cars. Should I get be a broker or a dealer?
Asked by mccoyblues - Mon Jul 23 13:52:57 2007 - - 6 Answers - 0 Comments

A. The value of an auto broker is that (s)he can protect the consumer from the games that are played at car dealerships. A good auto broker has tremendous buying power, based on volume sales, that an individual consumer simply does not wield when walking into a dealership. Moreover, the consumer deals with salesmen and finance managers, while a good broker will have established relationships with CEOs and other higher-ups at the major automobile conglomerates (e.g., Auto Nation, Penske Auto, etc.). These conglomerates own multitudes of dealerships that sell every make and model vehicle available in the U.S. If a broker sells 100 cars per month, that becomes an important income source to the conglomerate, whereas an individual consumer is… [cont.]
Answered by techno_trance22 - Mon Jul 23 13:57:58 2007

How do you become a business loan broker?
Q. What are the steps and requirements to becoming a business loan broker in the state of California?
Asked by f0revershort - Mon Aug 13 18:31:48 2007 - - 2 Answers - 0 Comments

A. I believe you just need a CFL license (california financial lender). You pay a few hundred bucks and have to carry a bond. There are also some background checks.
Answered by Richard S. - Mon Aug 13 18:36:41 2007

Is a real estate agent required to work for a broker?
Q. I am interested in getting licensed to be a sales agent - I just want MLS access, and be able to sell properties myself that I rehab. Am I required to be licensed if I want to sell my own rehabbed properties? And, if/when I do become licensed, am I required to work for a broker? I guess I just want to be licensed to have better knowledge, MLS access, and not have to work for a broker since I'm not looking really be an agent - just an investor. Can anyone help?
Asked by Curious - Wed Jun 27 13:05:42 2007 - - 9 Answers - 0 Comments

A. Yes in order to have an active, state issued real estate license, you must be associated (whether as an employee or independent contractor) with a licensed real estate broker. Likewise, you must be a REALTOR member in order to have access to the MLS. Only real estate licensees associated with a broker can be REALTORS...that means paying dues and subscribing to your local MLS. The MLS information access is a privilege reserved for REALTOR members only. Even if you are purchasing as an investor, you must be a real estate licensee to be "compensated" (i.e. legally earn a commission) in any real estate transaction. There's only one way to do real estate investing on your own without being or being associated w/ a broker: You could just… [cont.]
Answered by R.E. Advice - Wed Jun 27 13:34:52 2007