Can you start swing trading without a broker?

Asked 3 years ago

Do I need to have a broker to buy stocks and trade? Or is there a way to completely avoid them? If I really have to use a broker, which is the best platform for swing traders?

Andia Rispah Igobwa

Sunday, October 03, 2021

You can, but you're likely to be paying higher fees due to the extra work required. If you want to avoid a broker outright, then I'm afraid you must find an arbitrage opportunity- which takes time and effort.

It is impossible to completely avoid brokers in any kind of trading because they allow for on/off ramps from fiat currency (paper money) into another type of asset.

They are also helpful in providing data platforms on which we assess the performance of trades - investing.com and Bloomberg are popular sites that cover data for assets like stocks, indices, commodities, and FX pairs.

Andrew Moran

Saturday, October 09, 2021

Yes, you will need to have a broker to buy and sell stocks. You cannot contact Amazon, Tesla, or Walmart and ask to buy shares of the company's stock.

So, unless you have the connections, money, time, and paperwork to do so, you will need a broker to navigate the market.

For the purpose of what you are trying to achieve, the best swing trading platform is one that maintains zero-commission accounts and a broad array of features.

If you are in Canada, Wealthsimple is your best option.

If you are in the United States, you have a long list of brokers:

  • Robinhood
  • Fidelity
  • E*Trade
  • TD Ameritrade
  • Interactive Brokers




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