Is it possible to talk to, or get trading advice, from a human being at an online broker?

One of the problems with online brokers is the lack of personal touch. One of the benefits of the full service brokers is the ability to have some face to face, and have them realize your situation, and find the right investments for you. Trading advice is something you pay for, and most online brokers do not even offer it.

It depends on the broker.

Basically you get what you pay for. So, if you choose online brokers because they are less expensive, you have to realize that when you want advice, you are going down the middle of the road. You pay the amount in between a full service and online broker.

There are some discount or online brokers that offer trading advice through forums, email or instant message questions, etc. For the question is it possible to talk to or get trading advice from a human being at an online broker, the answer is generally no. You may be able to get advice, but it is generally automated, or general, but not personal.

For online brokers that offer advice choose someone like:

Ameritrade: Ameritrade not only has low rates, they also offer tools to help you with your trades as well as a charting and research tool that watches for trends and takes advantage of potential income opportunities. So, while this is not a live person, it is an inexpensive form of advice, but is more for the experienced online trader.

ETrade: Etrade offers tools to help you setup a strong portfolio. ETrade is great for beginners as they help you learn about the various types of trades you can make, stop loss order, options trading, market order, etc. However, once again there are no live people helping you here.

Charles Schwab: Charles Schwab is an online based broker that does offer live advice, and they pride themselves on it. They offer trading and investing, advice and research, retirement planning, banking and lending and market insights. They also offer online support and a toll free number. However, this advice comes at a price as they are significantly more expensive than other online brokers.

Scottrade: Scottrade is inexpensive, and they have 240+ local branches to help you in person, offer all the regular market information, a breakdown of account options and types, and up-to-date stock quotes and listings. So they kind of offer the best of both worlds, cheap price, and live help.

These are actually considered more of discount brokers because many of them offer services other than just being the platform from which you make your trades, and transactions. Find out what they have to offer, and how that fits your idea of what you want from an online broker as far as service and price go.

In deciding which is the best broker for you, ask yourself whether you need advice or not. If you are a newbie, you may be wise to simply work with a full service broker for a year or so until you get the hang of things, as you can't expect to ring up a discount or online broker and ask for advice on what shares to buy. You won't get an answer. If that is the level of service you are looking for, be prepared to pay top dollars to get advice from a Full Service Broker.

While the price for what you need may seem high, and thus defeat your whole purpose in investing, it is important to recognize that without the service needed, investing will do you little good anyway.

Just because online brokers are cheaper doesn't always mean that is the best thing for you. Check with your financial planner or consult as many different investment professionals as you can before making any decisions about which option is the best one for you, and really know what services they offer. The last thing you want is to think that the toll free number they have is for investing advice when it is actually for technical advice. Know before hand and you will be happy with your investment decisions.

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