Trading shares with different brokers
Online banks in particular offer free securities accounts, and in some cases no account management fees are charged for the clearing account. Nevertheless, trading in shares is not free of charge. Order fees are charged for every buy and sell, and these vary from provider to provider. In addition, stock exchange fees and brokerage commissions may be charged. Investors can find out the amount of the fees in the price-performance list of the custodian banks. In addition, the individual fees are displayed during the purchase process. In our free custody account comparison, the annual fees and the costs of individual orders are clearly shown.
Since the costs reduce the interest income, share traders should compare the fees of different providers. When choosing a broker, you should also check whether the broker offers a free demo account.
Free demo account
Some banks offer a free demo account that beginners can use to get to know trading in shares. Account holders receive a virtual credit that can be used to buy any shares. The selected securities are not actually traded, but trading is only simulated. The share price of the fictitious shares is adjusted to the current price fluctuations and changes continuously. With the help of the demo account, beginners can get to know different order types and try out investment strategies without risk. With some providers, the offer of the free demo account is limited in time, while with other banks it is available permanently. A demo account is a very good way for all people who are new to securities trading to get to know trading and to understand the process.
Trading - online or in person?
Stock traders who are well versed in stock market trading and do not need advice can trade on their own via an online account in Exness. After opening an account, the investor receives the access data to his securities account including a clearing account. Orders are entered online. Purchases and sales are executed immediately and booked to the accounts. As a rule, the providers of an online custody account charge the lowest fees. Trading is possible at most online banks on weekdays between 8.00 am and 10.00 pm.
If you have questions about certain shares or about how to buy them, many banks offer an order placement service by telephone. Here, either a voice computer answers or an advisor is directly on the phone. Calls are usually only answered during the opening hours of the branch bank. In addition, the fees for telephone order taking are higher than for online trading.
If a trader holds a securities account at a branch bank, he or she can also make an appointment with a trained securities advisor. The advisor provides comprehensive information about trading in shares and issues an advisory protocol. Here, beginners learn what opportunities and risks trading in shares offers. However, securities accounts at a branch bank are usually more expensive due to the higher personnel costs, which is why it should be considered in advance whether personal contact with a bank advisor is important to you or whether you can do without it.