Online brokerage houses have become popular as a result of the increased number of traders and investors who favor online trading over traditional floor trading. The advantages offered by Internet-based trading have convinced a lot of traders and investors to conduct businesses online which effectively leads to increased demand for online brokers.
Pros and cons of using online brokerage houses
As with online trading, using the services of online brokers has its own pros and cons. The main advantage, of course, is accessibility. An investor can easily access his firm anywhere he is and at almost any time of day. The speed of transaction is also a plus when it comes to hiring online brokers.
In terms of disadvantages, some market practitioners believe that online brokerage moomoo firms and brokers do not provide the personal service and attention that a traditional broker can give. Most investors are also left to their own devices to make all investment decisions without the benefit of talking to a floor broker who can analyze trends with them.