Trading 101: How to Choose a Broker
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- เผยแพร่เมื่อ 5 ก.พ. 2025
- Trading 101: How to Choose a Broker
When you are a new trader to the markets, one of the most commonly asked questions is "how do I choose a broker?" This is completely understandable as there truly are numerous choices available when deciding who you want to trade with. There are some key questions you must ask yourself in order to help best determine what stock broker will fit your needs.
Guide to Choosing a Broker: claytrader.com/...
Free Guide - The 5 Tools I Use To Find Stocks To Trade: claytrader.com...
Enjoy this Free Content? I'm confident you'd enjoy my premium training courses then: claytrader.com...
Hear real life trading journeys from "normal" people: The Stock Trading Reality Podcast - claytrader.com...
The best part of this video was the part that wasnt edited out. Made my night!!
:-)
This is good stuff. I'm glad you remember your roots. So many in a ton of different aspects in life do not. For those of us looking to get into the game but who are still unsure about the whole thing, we thank you.
Thanks for the kind words.
At 4:35 I was expecting to see people laughing or being silly in the comments because you forgot. The fact that everyone down here was being supportive of you and asking for your knowledge shows how mature of a viewer base you have. I would also like to say that I've been watching your videos alongside others who have become very successful and by far you give me the most inspiration that I can reach my goals.
I appreciate the feedback. There are definitely some trolls that show up from time to time, but for the most part, you nailed it... without doubt it is a good solid mature audience.
🤣🤣🤣🤣
5:47 that was the perfect opportunity to say "you gotta pump those numbers up, those are rookie numbers."
Great video, very clear as always!
Thanks, glad you enjoyed!
So brokers could decide to charge either per share or per transaction? How can I find this out before I choose a broker?
Broker's have all this mapped out on their websites. Worst case, just call them up on the phone.
ClayTrader thank you! I appreciate you taking your time to reply Man! Very helpful
You're welcome.
Love your vids. So fun to see behind the scenes...aka forgetting unedited
lol
New subscriber! Thanks for the laugh and authenticity 💹
Welcome to the channel!
"Clay! We're live! Just roll with it!!!" I love the real life.
Cheers
I like the quirky humor, keeps the video interesting 😁👍
more people needs to start small and learn the ins and outs of trading first before committing to anything, most people get ahead of themselves and not LEARN the rules, patterns or even the user interface of an online platform, they looking past that and that is why most fail...no foundations. Love your videos Clay keep it up!
Well said. Glad you enjoy!
Was 4:07 - 4:28 suppose to be edited out?
Probably, but we thought it was funny, so we left it.
ClayTrader nailed it
Nice man. Good job. I need to learn more of this.
i think he's legit. just has some help with youtube related stuff? idk haha
@islanti you are so stupid you'll never make it as a trader. if you are younger than 12 forget everything i said
I’m excited to get into buying stocks...but what are those other opportunities? Do you have a video explaining the other choices and why one would choose stocks over them?
Thanks for suggestion! Those videos already all exist here claytrader.com/takecontrol
if i want to buy some stocks for longterm, to earn money from dividends and i want to do trading to other stocks, is it possible? are online brokers only for trading? what about people who want to do both investing and trading. You use leverage for trading to make money but if i want to buy a stock as an asset to keep it should i go to a local bank or there are better options.
Yes, that is very possible. You have lots of learning to do before you get to that point though as I explain here - claytrader.com/videos/brand-new-trader-need-online-broker/
Do you have a video explaining what forex, future, bonds etc... are ? Trying to find out what to get involved in
That's explained within this claytrader.com/takecontrol/
could I have 2 brokerage accounts. One for longer duration trades and one for quicker trades?
Few things: I don't know if direct access causes a monthly fee that is higher to use and therefore while I'm learning if I should wait to have this type of broker.
I don't know what type i'm going to become so is it possible to grab a broker and then leave that one once i'm ready and go to direct access??
Yup, you could do that.
At 4:09 " I forgot " LOL
Thanks for lessons
haha... the camera puts lots of pressure on ya! You're welcome. Glad you enjoy.
@@claytrader it is not live to have a pressure. would you believer doctor who said... i forgot what kind of drugs you need..
@@Aristotel58 huh?
@@claytrader Moment when you pretend to have a certain knowledge and you forgot elemental think.
@@Aristotel58 roger that
You the best man, you videos are explained very simply.
Since you like these, when you're ready to learn about how to "actually" trade, make sure to go here claytrader.com/courses/
Thank you for your videos, most of my questions have been answered.
Great to hear!
I am watching all your videos right now and I don't know which order to watch it in so there are holes in what your saying can you please number the videos in order
p.s I'm watching your trading 101 video
I'll see what I can do. Please just realize that these videos are just "tip-of-the-iceberg" videos though. The "good stuff" that actually teaches you how to trade is withing my training courses: claytrader.com/training/
what are the different ways you can trade? you mentioned options, futures, etc. I'm brand new and would like to know. and would you be able to share any resources on where to get the info for common Jargon used. I have learned a lot watching your videos and will continue. thank you again for everything you have provided.
I'd encourage you to sign up for my training here claytrader.com/1-hour-trader-transformation/
Once I watch all of your videos Ill do my first trade, very useful information, thank you. Being 19 and starting now should brighten my future in investing.
That better include these videos too - claytrader.com/courses/
How are you doing with the trading now?
Mich y ^ yeah I’d be curious to find out as well
What's the difference between an active day trader, trading up to 6 trades a day and the 3 trades within 5 days trade rule?
They have a margin account and $25,000 in it.
I love it when you walk off camera...it cracks me up every time
haha... :-)
Looking to day trade at 3 trades a day. Started with $4,000 and I’m at $24,200 right now. 3 trades per 5 days has been a nightmare but almost there. I’m with Ameritrade. Who do you recommend for Direct access? Going to start researching now. Thank you
This is all the stuff explained in my courses (which I know you asked about in another comment).
All these different stock brokers, where do they get all the number/information about prices for stocks?? banks? wall street? or somewhere els?
This playlist should help claytrader.com/video/trading-101/
Thank you very much. It was like I asked a question, and u just gave me d answer to all my questions, thank u again.
You're welcome. Glad it could help.
I'd like to know if you can have 1 broker for all of the options like stocks, currencies and others in a app.
Interactive Brokers I think may work
What's the difference between stock trading, currency trading and other ones ? Thanks for sharing your knowledge. I am just starting out so this is very helpful 👍
Just "what" is being traded. That's the difference.
Can you have a day trading and swing trading accounts?
Absolutely.
U R good teacher
Thank you. Glad you find it helpful.
U CNT SPL.
Can do a video on the different trading options? You mentioned Options, Bonds, stocks etc...
This playlist should assist claytrader.com/blogs/trading-101/
I'm new to the market and I have played the patience game to explore direct access brokers but I am not sure where to go to research (in NYC). Could you please help with some advice?
Given you are self admittedly "new", I'd say watch this - claytrader.com/videos/brand-new-trader-need-online-broker/ I get the impression you are getting ahead of yourself.
Question im halfway done with your video and still gotta go thru the comments. I never dealt with stocks, no expert by any means lol. How much would you need to start out? But i think you just answered it. So you have to pay the broker and if your not working with enough money most dont wanna even talk to you basically? See i thought that you might pay a membership fee type thing for month to a year or i thought they basically work off what they make you and get a %. Maybe i didnt catch it but how much would you suggest money wise for a beginners? And do you recommend a specific site to look for one? I live in Pennsylvania if that has anything to do with it to lol. Should i try find a stock broker in my area or like New York city or California? Thanks for your time!!!
This should help claytrader.com/getting-started/
All you need is a good broker in the US. A professional trader to help you manage your account. This dude was recommended to me by a friend and ever since I met him, have been making huge profits.
You can reach out to Mr Gray Luc on instagram @Grayfrx or send him text via WhatsApp +1 567-206-7802
Most brokers in Canada charge too much commissions, but if your a day trader then you get good rate per trade eventually. But if your swing trader you might not trade enough to get those good rates per trade.
It does indeed depend on the strategy.
I’m from the UK. Ive used a meta trader 4 demo account for a year, doing decent numbers. Which broker should I use if I want to day trade with £200 to start with? And then increase the amount of money I put in when I’m confident that I’m doing well?
Good plan!
what is the disadvantage of a direct access broker? why wouldn't you always go for it, even when you are not a fay trader?
Some charge a monthly fee for their platform and things like that where it just doesn't quite make sense.
ClayTrader thanks for the super quick reply! another question: are all companies together in the stock market? are some companies only accessible over particular brokers? are there any implications of living in germany and wanting to start trading stocks?
You would need a broker that allows you access to the USA market. Once you have that, then you can get buy stock of any company that is publicly traded in the USA.
How do i buy stock from facebook or Apple?
Here you go claytrader.com/blog/best-online-stock-broker/
Can interactive broker be suitable for day trading? (buying 3~5 shares a day), does it also have any leverage that can help.me boost my earnings?
Yes, that's a solid broker.
What are options?
Another way to make money in the markets.
ClayTrader do you have a video or want to make one related to this subject?
@@shreyashk7417 it's part of this program I offer claytrader.com/takecontrol/
If I'm from Singapore do I have to sign up for a particular online broker in order to trade in let say US or UK stock market and do I have to pay any additional fees for trading in an overseas stock market?
Any recommendation of online broker out there that are well known in order to trade in the international stock market?
I would start by looking into Interactive Brokers.
Great video. Answered all the questions except the key ones: "What is a broker?", "Why do you need a broker", "Can I be my own broker?", "What do brokers charge?", "Where can I find a broker?" , "Are there more than one type of broker?" For a self described "Trading 101" channel, you are falling "short" my friend. Don't get this twisted, I appreciate the effort and the info you did provide, but maybe focus more closely on the topic you advertised. Some of us are rank beginners.
Here ya go: claytrader.com/videos/online-brokers-work-need-one/
As a newbie what brokerage would you recommend from Cali
Here ya go claytrader.com/videos/the-stock-trading-platform-for-traders-on-a-budget-best-app/
im in canada have made lots of research , but the thing is i am not day trading yet and the best broker that i found would suite any day-trader is lightspeed trading. but thing is i need a broker that can do day-trade and trade maybe 3 times a week, so i can see if its for me any specific broker suggestion?
I'd check out Interactive Brokers
great videos and its good to hear the truth in all of it.
Thanks.
Hi, I'm very new in this, and there is one thing that confuses me a little. what's the difference between brokers and brokerage?
They are the same thing.
awesome videos and recently subscribed to you! I noticed you said Huntington and Fifth Third... are you in the Buckeye State??
I grew up in Ohio, yes. I now live in Michigan though.
You mention making more than 3 trades per day/week. I'm new isn't there a rule for day traders only 3 trades per week? Otherwise you get pounded with PDTR? Let me know please. Thanks..
Not 3 trades "per week". It's 3 traders "per day". More on that here claytrader.com/videos/what-is-a-day-trade/
Why do a need a stock chart provider if I have a broker? I'm not near ready to chose a broker but when I do, why do I need a stock chart provider too? Do you not trade through online brokers? If they function together, how? Do you use them in the same instance?
Thanks. Really enjoying your videos.
Stock charts are a tool to help you make decisions when trading. You may not like the charts given by your broker, so a 3rd party is always possible.
Can we migrate from one broker to another? Also, can we have more than one? Would there be any benefit of keeping more than one broker?
Yes, you can change anytime you'd like.
Lmao at number 3. But for some reason it was refreshing. Great info and right to the point.
Glad you liked it!
hello..what is the best broker for option trading? what about london captal group vs saxo bank? with one better? ty
This should help claytrader.com/blog/best-online-stock-broker/
So I really want to get into stocks but only can start with 100 dollars what do y’all suggest I can do to trade
Watch this claytrader.com/videos/how-to-get-started-day-trading-with-only-100-and-zero-pdt-rule/
To be honest with you, this was completely helpful. I am trying to get into stocks/trading but have no idea where to start & never even knew there was so many different things to trade! Your 2 videos have been super helpful. I can't thank you enough. looking forward to more
Glad it helped Kelly. This should provide some assistance also claytrader.com/getting-started/
Does it matter if I use a UK online stock broker while I'm outside of UK? Since it is online already.
Depends on what you're looking to do.
Hi Clay, do all brokers have commissions or fees and if some are free, are they as good as ones with commissions and fees or even better? Do all brokers have minimums or is it just a set few?
Everyone is different. I recommend claytrader.com/videos/the-stock-trading-platform-for-traders-on-a-budget-best-app/
Dumb question from a newbie, but if I buy stock through one broker, does that stock stay with the broker (i.e. I can only sell through them) or does it follow me to a different broker?
Great question. You can transfer it to another broker.
Thanks, I appreciate your help! Videos are fantastic btw, definitely subscribing!
You're welcome :-)
Hi Clay, I watched your video talking about different scanners & charts analysis like esignal & TOS, so I want to ask you what do you think about Etoro as a broker? I’m not a US citizen so I cannot open an account on Fidelity and similar brokers.
If you can make a short video about this topic it will be great as well.
Thanks and Keep it up..
I don't have any experience with eToro, so I can't really comment.
So dam*
My teacher gave me a assignment to search about Stock Market and now it’s related and so I have to get Experience by try to get my own Trade...!
I'm not sure I understand.
thanks for helpful vodeo
Happy to help
hey clay i live in mexico do you think that Interactive broker will work for me?
I believe so. You'd need to contact them directly though just to make sure.
is it smart to have multiple broker accounts depending on what you want to invest in? For example, if I wanted long term investing stocks in larger companies such as Google and Amazon, and I also wanted to do day trading, should I have multiple broker accounts to make it worth the fees? In addition, some people say that multiple broker accounts limit risk. How is this so?
This should help - claytrader.com/blog/best-online-stock-broker/
I want to start forex trading, how’s ICM and fxview?
Never heard of them.
very good clear lecture
Thank you.
The minimum to start that some charge, is that a cost to start up or is that still my money to trade with? Understandably a stupid question but there it is 8)
Still your money.
Hey ClayTrader i want to Trade daily, and active but i am for the Netherlands so is Interactive broker a good option to do right now?
and i want to start with like 2000 euro's
Yes, Interactive Brokers is who I recommend for international traders. Whether you start with 200, 2,000 or 20,000 euros does not matter. If you don't know what you are doing, then all those amounts will go to zero.
ClayTrader i got hacked i never commended this
Sorry to hear that. Better go change your password.
uhm lol.... i am the brother of calecactus. i commended that commend on his account sorry
Is interactive broker good for long term investing ?
They're decent. This broker is better though claytrader.com/videos/m1-finance-too-good-to-be-true-no-theyre-awesome/
What are options, futures and the other types ?
I'm not quite sure what you're asking.
Thanks
Welcome
Tell me some best brokers for day trading in ny usa
Here you go claytrader.com/videos/the-stock-trading-platform-for-traders-on-a-budget-best-app/
Hello sir, I have been searching for many months now but I believe I will get an answer. I want to be an Online indices broker, what are the requirements...I mean, what must I do to be a broker? Do I need to take exams, tests e.tc and what more? Thank you...CassidyFx from Nigeria
That all depends on what kind of broker you want to be and what country you live in.
@@claytrader I live in Nigeria but I know there is a process, a work to do, please do you know these processes and requirements?
I do not. I'm in the USA.
Any idea about eToro broker?
No experience with them, sorry.
Thanks for yur all reply.
Can yu plz guide me which course will i buy first from my beginer level.ill buy it ond by one.
Thsnks
Give this a watch claytrader.com/training/clays-suggestions/
Gotta love the honesty of the filming on this, the human value of doing The Art of Living. Sorry but as a side note do check out Walter Russell.
I'll check that out, thanks.
My first trade ever was my tough-love intro to commissions. I bought 1 single stock share for $8, and paid $10 in commission, for a total of $20 in commissions to exit :D Would have to see 250% return to break even. I am now using Interactive Brokers and DeGiro.
Thanks for sharing! Commissions can alter a trade plan largely as you've experienced.
Do I have to have a broker to buy stocks
Yes. This should help claytrader.com/blog/best-online-stock-broker/
I still come back to this video to see what Clay thinks about the activeness of a trader
Cheers
In order to fulfill our trading, need we should always pick the reliable broker. But the broker selection is the biggest problem to the new traders especially in Forex market due to the increasing number of scam brokers. I choose the ECN trading brokers from among brokers due to get amazing and technical trading facilities including - the lower spread from 0.4 pips, fastest execution, error free transaction, negative balance protection etc.
Thanks for the thoughts.
If I start out with a balance under 25k, how can I get around the "patterned day trader rule." Can international brokers be a solution to this?
You can do this claytrader.com/videos/how-to-get-started-day-trading-with-only-100-and-zero-pdt-rule/
ClayTrader Thanks Clay!
Great information. I am someone interested in day trading stocks actively (one or twice a day) and have around 3-5k willing to play around with. I plan on getting into stocks. Can you recommend a course that you have that can help me both learn more and get me started into day trading? (of course its fine if i have to pay for the course)Thank you!
Hi, glad you enjoyed! I do offer a course - claytrader.com/takecontrol/
Great message on patience.
Thanks.
Love this guy. Great work God bless
Thanks. Same to you.
Hi clay im from uk.can yu plz guide me which online platform is available on which any international person can buy shares or stock of any company of world
Thanks for yur best vid
I'd start by looking into Interactive Brokers
What do you think about Financial.org ? Many people recommend it to me but is it good for online trading?
Never been to the site, but by the name of it, it does not like like something meant for trading.
ClayTrader I'm really concerned about the safety of online brokers that you've been talking about ...Can you show the online brokerage that is safe and good for online trading? Thanks 😀
You are getting way too far ahead of yourself. Watch this - claytrader.com/videos/brand-new-trader-need-online-broker/
ClayTrader I wonder if you could give a review to this website
Again, you are way too far ahead of yourself.
Great video
Thanks
Hi clay, which broker do u personally use?? I watched ur live trading and I get it ..
The answer to that (and more) - claytrader.com/resources/
what the best for beginner options trader ????
I'd say watch this - claytrader.com/blog/getting-started/ it sounds to me like you're getting way too far ahead of yourself.
I LOVE TO LISTEN TO YOU ! Too Cool Clay ,.... Thanks for your Help. :)
You're welcome.
Hey I am in Bulgaria and I just want to buy (and hold) two particular US companies' stocks. Would interactive brokers work for me? Also - I want to start more frequently trading with stocks in the future - can I change the type of account later on (to direct access) And thirdly - will I be able to buy bitcoin using interactive brokers? Thanks!
"Yes" to your first question. The next two questions need to be asked to Interactive Brokers directly.
Thanks, you are awesome
stupid question i guess!! how many trade a day?you said you can trade 5x a day!i thought theres only one trade a day till it close.like start at 7 am and ends in 7pm. thats the time ull know if you gain or not!tnx
You can trade as much (or little) as you want.
Hey I know this video is old and I’m a freshman in high school but I have 1,000 saved up to buy and trade some stock. I would like to be active at least once a day after school .... what’s my best option
Given your age, the best thing you should be doing is this strategy claytrader.com/courses/grow-rich/ You'll be worth millions someday.... past history and math essentially guarantee it.
Why wouldn't an investor or someone looking to make approximately three day to one week trades not desire a direct access broker? Is there a downside to having a direct access broker?
Dear Clay, thank you so much for all your amazing work, I really like the way you teach! Please I would like to know what Broker do you recommend me. I will invest in stocks, operating from Latin America (Chile to be more specific), not in an active way, and I will start with 150 USD dollars. I also want to know how can I withdraw the cash later, after I sell the stocks in the future. God bless you!
This playlist should help claytrader.com/video/trading-101/
Whats the minimum of a put down if you are wanting to purchase penny stocks?
I'd encourage you to consider "penny stocks on steroids" - claytrader.com/videos/trade-penny-stocks-steroids/ I'm not sure what you mean by "put down".
How to know if there is a broker for my country? And if these brokers provide high fees and commissions, can I have other brokers from another country??
Use Google. That'd be the best place to start.
I started off with 100 USD and during a trade my free signal expired and I needed 300 USD to continue my trade. What's all that about?
I don't now, you'd need to go directly to the source of the problem.
Would $4.95 per trade through options house be good for an active day trader? (4+ trades a day). Right now, I am using and app to trade (not daily) and the $0 trade and $0 commission is a blessing.
I think that's pretty high. Here is my fee structure explained: claytrader.com/blog/how-to-trade-stocks-and-not-pay-commission/
Somalian Forex lol? Thanks bro. Funny on forgetting part 3 for a while..but we like your humour and your simplistic way on how to choose a broker.
Thanks. Glad you enjoyed.
The beginner who r nt able to buy yur course or not able to join any academy and yu knw minimum fee of online trading platform is abt 60 bucks and they dont even knw they got profit in first couple of months or more.then whats yur idea abt such guys answer plz
I apologize, but I'm not sure what you're asking.
Does each country around the globe has their own broker? #malaysia
I'm not sure. Many brokers though operate in multiple countries.
How do you find out if they are trusted brokers? Any suggestions?
Hope this helps: claytrader.com/blog/best-online-stock-broker/
Hey I'm from India could you help me out to find a online platform to perform trading.
This should help claytrader.com/blog/best-online-stock-broker/
etoro its okeay for a beginner daily trader ?
I don't know. Do you know what you are doing? If you don't know how to put together a trade plan, the broker doesn't matter.