Are Secret Low Cost Brokerage Services Worth A Look?
by John E
Are there any secret low cost brokerage services out there? If you don't know all the brokers and their sites, then you will likely find many low cost operations you didn't know about. What is their secret anyway? When Robin Hood first launched, everyone wondered how they were able to allow people to trade stocks for free. They have certain things in place for turning a profit, but it just didn't seem like it was going to be enough. Yet, celebrity endorsements and financial backings helped ease people's minds to the point that millions have signed up for an account and have been trading for over a year now.
Forex has many low cost brokerages, too, but you certainly have to watch out for land mines. What do I mean by land mines? I mean that are untrustworthy sites out there posing as Forex brokers. Notice I didn't say untrustworthy brokers. While I'm sure there are those as well, legitimate Forex brokers are going to have strong operations with varying rules. These other sites I'm talking about are looking to dupe you and take your money, among other things.
The Forex market represents many opportunities for financial gain, but it is also less regulated. Those people in power are sometimes blamed for monopolizing currencies and even devaluing them on purpose. Watch what investment choices you make, but there are certainly many low cost brokerages out there.