What is a Stock Broker?
A stock broker is a financial firm that facilitates buying and selling transactions for investor clients, institutions and or for the firm. All financial market transactions have to be executed through a broker.
A broker is responsible for facilitating all stock trades you place. Most brokers allow users to sign up through online applications. Brokers charge commissions for their services. The type of broker will determine how expensive and how the commissions are structured. For Day Traders, you will focus on online Discounted Brokers.
Choosing a Day Trading Broker
Choosing which day trading broker to use is an important part of becoming a stock trader. There is not a specific company out there that is the "best day trading broker." The broker you choose should be relative to your needs as a trader. If you plan on short selling stocks, you will want to find a broker that has a good short list. If you plan on scaling in and out of position, you may want to choose an online broker that has per-share pricing.
Before rushing into choosing an online broker, make sure you know what your needs are. Focus on your trading strategy and find a broker that will help you meet your goals. Below are a few of the different types of brokers that are good for Day Traders