Online brokerage firm

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Online Brokerage Firm

A company or division of a company that offers brokerage services over the Internet. One manages one's online brokerage account by giving orders online, which the brokerage then fills. One may also settle transactions electronically, though clients usually have an option to mail a check to the firm. Online brokerage firms usually charge lower commissions than other brokerages, but do not provide individual investment advisory services.

Online brokerage firm.

To buy and sell securities online, you set up an account with an online brokerage firm.

The firm executes your orders and confirms them electronically. When the markets are open, the turnaround may be very fast, but you can also give buy or sell orders at any time for execution when the markets open.

You may mail the firm checks to settle your transactions or transfer money electronically from your bank account.

Some online firms are divisions of traditional brokerage firms, while others operate exclusively in cyberspace. Most of them charge much smaller trading commissions than conventional firms.

Online firms usually provide extensive investment information, including regularly updated market news, on their websites, though they do not provide one-on-one consultations.

References in periodicals archive ?
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We are thrilled,'' said Tracey Curvey, executive vice president of online brokerage at Boston-based Fidelity Investments.
Scivantage, a leading provider of Web-based, front- and middle-office technology solutions to the financial services industry, today announced that Celent, an independent research and advisory firm focused on the financial services industry, has recognized Scivantage as the leader in online brokerage technology in a new research report.
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Datek Online Brokerage Services LLC, a subsidiary of Datek Online Holdings Corp.
Asia/Pacific has been able to follow the rise and fall of many online brokerage companies in the West and thus will not have to reinvent the wheel," McGarvey said.
With online brokerage firms poised to spend a record $1 billion on advertising this year, state regulators are cautioning investors to look beyond the claims of how easy it is to get rich investing online and beware of risks that are magnified by the new technologies.
The ability to access Level II quotes for multiple stocks simultaneously is a real benefit for active traders," said John Mullin, President of Datek Online Brokerage Services LLC.

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