You may not know it but there are actually different kinds of stockbrokers who offer varying kinds of services at a range of costs. Generally, stockbrokers are divided into four categories. The first one is your online stockbroker. They are also known as discount brokers because you can get such cheap prices online compared to offline services.
Additionally, they usually just execute your order without giving you any advice about which stocks to buy and sell. Online stockbrokers may sometimes give you research or other online account management tools. However, the actual choice of your investment is largely up to you.The other three forms of stockbrokers consist of the discount stock broker that gives assistance, the cash manager and the complete service stock broker.