If you have decided to make your own decisions, then obviously you want a discount broker who simply gives you the best service at a low price. If you value professional advice, you may want to opt for the full-service broker. But there are a few steps to keep in mind when choosing. First, ask about their background and knowledge of the market. For some industry experts, age and experience are the two most critical factors.
Some traders say they like to use brokers who have been in the business for five or more years.
That not only should ensure good market knowledge but prove they have seen some volatile markets. And in a fast moving market, a calm full-service broker can help traders avoid pitfalls. Beyond experience, you also want to know the breadth of a broker's expertise. A full-service broker who knows the tendencies, nuances about volume, open interest, volatility and history can be helpful. It also helps to have the same trading style as your full-service broker.