Futures For You by Carley Garner
FULL SERVICE OR SELF SERVICE?
Should I use a full-service futures and option broker or trade for myself online?
This is a decision that is often made with little research or thought but has the potential to have the biggest impact on the bottom line. I would argue that traders should put nearly as much effort into finding a broker and determining the service type that fits their needs and desires as they do researching the markets that they will be trading.
Making a mistake in the choice of your service level can be costly. An inexperienced trader opting for a deep-discount online rate may accumulate far more in market losses and trade placement errors than paying a full-service broker would have ever cost. This is not to imply that a full-service broker will assure accurate speculation and prevent losses, but using a good broker may avoid some of the common newbie mistakes. In addition, it is possible that having an experienced broker to bounce ideas off of may improve results.