How To Choose The Best Stock Broker?

How To Choose The Best Stock Broker?

Raph Antoine
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Raph Antoine
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Why Is Our Guide Different?

This guide is Bankeronwheels.com’s deep dive into European and UK Brokers. 

We approach Brokers by:

  • ETF Focus – We are long-term Investors that predominantly use ETFs.
  • X-Ray Transparency, Capital Strength or Regulatory Supervision – Showing investors what matters with respect to safety – a crucial aspect hardly considered by most guides.
  • Simulate overall costs for Buy & Hold Portfolios – Comparing broker costs by using simulations specific to investors’ needs – using our proprietary cost comparison tool.
  • Add Context – Providing additional background related to other important aspects, such as Payment For Order Flow and Single Market Maker Stock Exchanges, Level of Interface Complexity, Country-specific Tax Reporting or ETF Availability. 
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What's in thIS Guide?

1. Introduction 

You are reading this introduction. 

2. BROKER CATEGORIES

Brokers are usually bucketed together by comparison sites, that don’t have an in-depth knowledge of how investors think about counterparty exposure. Most of the websites are also conflicted, often promoting brokers with the highest-earning commissions. We take a more professional angle. How would an institutional investor categorise them?  Here is what you need to know about the 5 Key Broker Categories in Europe and the UK.

3. HOW TO CHOOSE A SAFE STOCK BROKER?

Over the past decade, investors focused on fees, and rarely on safety. What happens when a Broker fails? How likely is it? Could it be yours?  Here is what you need to know.

4. SHOULD YOU RELY ON A BROKER INSURANCE?

Given the low Investment Protection Scheme amounts in the EU certain brokers subscribe to an insurance policy for their customers to increase the limits. Should you rely on these guarantees?

5. HOW TO CHOOSE A CHEAP STOCK BROKER?

Brokers may have very confusing fee structures. But, the portfolios of our readers are relatively simple, so coming up with a lifetime accumulation phase simulation of all fee components to choose the cheapest broker is not only feasible, but necessary. Certain fees – like custody fees – eat into investors’ wealth in the same way dramatic way as high Total Expense Ratios charged by Fund Managers.  We also created a Broker Cost Comparison Tool. 

6. Should you choose a zero-commission Stock Broker?

Some of the new kids on the block – Neo Brokers – charge no fees. Should you consider them? It depends. For very small transactions – it could make sense. Once your portfolio increases, dealing on a single market-maker Exchange is usually not the cheapest. And those brokers may need to alter their business model given the recent EU PFOF ban.

7. Broker ETF Availability (Coming soon)

[Coming Soon – Subscribe 📧 to get posted when it’s available]

8. How To Choose A Stock Broker With Country-specific Tax Reporting? (Coming soon)

[Coming Soon – Subscribe 📧 to get posted when it’s available]

9. How To Choose A User-Friendly Stock Broker? (Coming soon)

[Coming Soon – Subscribe 📧 to get posted when it’s available]

READ PART 2 - BROKER CATEGORIES
Thank you for reading.
Good Luck and Keep’em* Rolling!

(* Wheels & Dividends)

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