Hi, I don't know where to find this information and looking

>>1109731
I forgot to say

Thanks in advance for your answers.

File: scottrade-review.jpg (49KB, 620x299px) Image search: [Google]

49KB, 620x299px

Basically, If I wanted to open a brokerage firm, how would I do it, and where would I go to learn how to do it?

Throw stocks and shares in the bin.

What you are looking for; true freedom, comes in the crypto markets.


Buy ETH

>>1109743
What is ETH?

I'm looking for a return on my money, storing it in a bank makes little to no sense anymore, especially when I can be storing it in a mutual fund. I just want to know how I can bypass the middle men that seem so endemic of a capitalist economy.

Now that I think about it, if someone wrote a book on "How to bypass the middlemen" I'm sure it would be a bestseller.

>>1109745
ETH is a cryptocurrency. You buy it, then hold on to it. No bank or middleman needed.

Wait for it to appreciate, then sell it. Simple.

Small print: Cryptocurrency speculation is risky do not invest more than you can afford to lose

>>1109747
I understand, but I'm not looking for speculation, I'm looking for secure dividend payments that give me an option to exchange debt for equity in the event of some crisis befalling the company.

It just seems I have to go through the wall street gurus to do it.
I want to know where they get their information and skills. What's the difference between a brokerage firm and a private citizen?

>>1109745
Eth is autism coins. Don't even pay attention to that shit.

>>1109751
No one knows the answers you seek. I know one thing for sure. Trying to pick stocks is a mugs game. There are entire buildings full of teams of people who's sole job it is is to rape your money away.

The stock market is fucked for individuals.

At least crypto is more of an even playing field.

Buy ETH

>>1109762
So basically you don't know and the thought of a bunch of suits intimidates you. I can appreciate your view and your advice, and I know that wall-street is akin to a battle field of one uppers and that losing your money is easier than earning it if you aren't part of the "club".

But I'm just looking for basic information, how can I access the markets independently and maintain my own portfolio and records independently?

That information has to be out there somewhere.

>>1109777
March into the stock exchange wearing a tux and a monocle and demand to be served. When they refuse, say in a loud voice "But the sign on the door reads STOCK EXCHANGE does it not?"


As for the ETH thing. I tried my best to help you. You can lead a horse to water etc... Just don't cry when you start hearing about Bitcoin 2.0 in the papers

>>1109777
I'm beginning to think this is more of a technology and information systems question than a finical one.

>>1109731
Its quite difficult in the US at least -- institutions in the US need to be a broker dealer to hit the market directly (look up the naked access rule).

Potentially you could register your own brokerage, pass all the tests, etc. but that's not even half the battle. Once you are legally allowed to theres a ton of infrastructure involved, you would need to buy/build a bunch of technology.

Once that was done you would still need a way to clear you trades, which in addition to the actual trading is another full time job. Many brokers (even large ones) pay another broker called a clearing broker to handle that mess because its difficult to get right.

I figure that brokerage firms are necessary because they trade in aggregate, taking tons of peoples money and investing it and making a tidy profit off of it.

Money talks and a single person just does not have the pull necessary to be taken seriously in the markets.

BUT, in the information age, there should be no reason that an individual cannot access the markets and their data independently... Google will show how the market prices are doing for free you know...

>>1109792
The closest you can get without all the legal and back office effort is a hardware DMA platform from a big bank (as close as you can get to plugging into the exchange) , but theres still a huge technology and capital requirement to get there.

>>1109792
So you're saying that there are legal and technological limitations to accessing the markets directly?

What about maintaining a portfolio not partially owned by the brokerage firm?

Where would I go to learn more about clearing brokerage and naked access rule if you know?

>>1109803
What does DMA stand for?

It's not unreasonable to want to have direct control over your portfolio and access to the markets is it?

What's everyone opinion on crypto currencies? It seems this board has a high opinion on them but is that just naive optimism? What makes a crypto currency so much more valuable and trade-able than government backed cash?

>>1109804
What do you mean by "not partially owned by the brokerage firm"? When you purchase a security its yours and held in your name.

Investopedia has a good high level view of clearing brokers, but I doubt you find a guide online on how to create one yourself.

A quick google search for Naked Access Rule should give you the gist of it.

>>1109808
Direct Market Access
despite the name its not really "direct", but it is the closest you'll get without all the aformentioned legal, technicalogical and capital issues

>>1109813
the high volatility and the potential for a bunch of losers to get rich off of doing nothing

>>1109820
Ok, thanks for your answers.

>>1109823
No problem dude, the world isn't out there to rip you off as much as Michael Lewis would want you to believe otherwise.

The margins in this game are low and its easy to vote with your wallet. Any well recognized broker with a long history is a safe bet (not to mention theres always SIPC coverage to save your ass in the event of a catastrophic failure).

What computer programs allow me to engage in day trading?