Stock broker?

How do you protect yourself from a stock broker

5 Answers

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  • 4 weeks ago

    Like any other business - if you don't trust the people you deal with - don't deal with them. If you know what you're doing, you'd have protection/

  • 4 weeks ago

    Interview multiple ones and go with the one or two that you trust.

  • 4 weeks ago

    Do not give your broker the authority to make trades in your account.

  • Mike
    Lv 7
    4 weeks ago

    You can't. Some lawmakers wanted to put brokers in the category of fiduciaries. Lawyers and accountants are fiduciaries. They are obliged to put their clients' interests first. Brokers fought the proposed change and it was dropped.

    • tiescore
      Lv 5
      4 weeks agoReport

      Stock brokers have been fiduciaries at least since I was first one back in 1992 (I have not been one for awhile). The rules they fought merely opened them up to excessive legal action. The result is small clients who needed the guidance the most got dropped to avoid liability.

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  • 4 weeks ago

    You don't need a broker.  Almost everyone opens their own brokerage account & buys their own stocks & mutual funds.  

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