2007-03-23 19:48:52 · 8 answers · asked by philceb2003 2 in Business & Finance ➔ Investing
the question should be do you really need two..
2007-03-24 03:27:08 · answer #1 · answered by derrik 2 · 0⤊ 1⤋
Yes. In fact there can be some advantages doing so. Different brokers might give you access to different research tools. Also by having multiple accounts you can compare the services of one against the other personally to see if one is preferable to the other.
There may also be some disadvantages. Some brokers have account minimums that if you meet them, you receive discounted commissions. Another is trying to remember which broker holds xyz that you wish to sell or buy more of. Or where was that cash balance that you wanted to invest.
2007-03-24 01:48:04 · answer #2 · answered by Anonymous · 0⤊ 1⤋
yes, people do that all the time.
But one advantage to having only one broker is, sometimes they give you more perks if you have a larger balance of cash and shares. Getting a larger balance would be a little more difficult with multiple brokers. Your taxes will be a little bit more complicated, but not that much.
However, there really isn't any reason why you can't have two different brokers.
2007-03-23 19:59:00 · answer #3 · answered by PH 5 · 1⤊ 1⤋
Yes, you can. Heck, you can have more than 2 brokers. The more brokers you have the better. You can have access to different research tools and infomations.
2007-03-24 09:53:58 · answer #4 · answered by Young and Famous 3 · 0⤊ 0⤋
Why not?
Though you will be giving yourself the hassle of managing 2 different systems.
2007-03-23 19:56:57 · answer #5 · answered by ShadowOfLight 2 · 1⤊ 1⤋
Yes.
2007-03-23 20:30:32 · answer #6 · answered by Anonymous · 0⤊ 1⤋
I do it--I opened a second account for options and didn't bother to roll over my old account.
2007-03-23 20:32:39 · answer #7 · answered by Adam J 6 · 0⤊ 1⤋
yes, but you have to prepare a good connection of your internet
2007-03-23 22:48:38 · answer #8 · answered by ayahnya frista 3 · 0⤊ 2⤋