How to Choose the Best Online Brokerage House in Bangladesh?

How to Choose the Best Online Brokerage House in Bangladesh?

Have you ever hired any brokerage firm in Bangladesh? No? Don’t worry...we will help you know everything which is essential to hire a brokerage company in Bangladesh.

A brokerage company is basically the middleman who is responsible for linking or connecting the buyers with the sellers. The company receives a compensation amount as a commission once a transaction successfully happens between the buyers and the sellers.

Types of Brokerage HousesOne thing which you have to keep in mind is the fact that the amount you pay depends on the level of service your brokerage provides, and whether your work is done by human beings or computer algorithms. Based on these factors, brokerage houses are divided into three types:

1. Full-Service Brokerage Also known as traditional brokerages, these companies offer a wide range of services and products. There services which include money management, financial consultation, estate planning, etc.

2. Discount Brokerage

These brokerages are usually less pricey than a full-service brokerage house.

However, they also provide less comprehensive services and products along with the lack of excellent customer service. These types of companies charge a lower commission as their clients have to conduct their research on their own including trades by computerized trading systems or mobile app.

3. Robo-advisors These types of brokerages include a digital-only online investment platform that uses specific algorithms to implement their trading strategies. They carry out this process on behalf of their customers in an automatic manner. These roboadvisors do not only work automatically, but they also charge a meagre amount.

Tips to Choose the Best Online Brokerage House In BangladeshBeing the buyer, we have a lot of online choices when it comes to choosing a brokerage company. However, you have to select the type of services you want by checking their level of risk tolerance, customer service, market knowledge, sophistication, and comfort. The process of picking a brokerage firm is similar to choosing a stock.

The things which you have to consider choosing the best online brokerage in Bangladesh1. The first and foremost thing is to compare the rates of brokerage firms with other brokerage houses in the country, to know the best price.

2. Decide the services that you want from your brokerage.

3. Understand the process of how the brokerage works.

4. Always try to choose a service which is flexible as well as convenient.

5. Avoid scammers and potholes.

It is your duty to ensure that they are selecting an online brokerage house in Bangladesh which is proving their service at the most economical price. You should always compare the prices, services, products, benefits, reputation, and the quality which they are providing with other brokerage firms in the country.

The most important amongst all is that once you shortlist all the firms which are suitable for you, try all of them one by one so that you can understand which brokerage suits your business and style. This will help you work at a suitable pace, according to your comfort.

Yes, it is perhaps a smart hack. Trust me!

Address Details: Mika Securities Limited Head Office: Faruque Rupayan Tower, 15th floor, 32 Kemal Ataturk Avenue, Banani, Dhaka, Bangladesh, 1213 Phone:+880-2-9820564 Mobile: +8801730062188 or +880-1730-706742 Mail: info@mikasecurities.net Website: http://www.mikasecurities.net/