What does your local broker actually do?
USAF Dude asked:
Say you order 500 shares of company X, and then what exact tasks does your broker do to complete your order?
This entry was posted
on Monday, January 18th, 2010 at 12:00 am and is filed under Investing.
You can follow any responses to this entry through the RSS 2.0 feed.
You can leave a response, or trackback from your own site.
Say you order 500 shares of company X, and then what exact tasks does your broker do to complete your order?
I am guessing he
1. Accepts your order/payment
2. Calls his buddy in wallstreet telling him to buy 500 shares of company x.
3. Broker notifies you of the purchase.
More specific the better.
I was thinking of becoming a stock broker, I just wanted to know how the process works.
January 21st, 2010 at 6:01 am
Yes, that is pretty much what the broker would except he/she would simply enter your order in a computer and a confirmation will come to you in a few days. For that work, they probably will charge you $29, $49, or up.
What you should do is to open an online account and do all of that yourself which will cost you $12 to $20. excusessme