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The concept of discount brokerage firms started as a way to reduce the commission rate by eliminating investment counseling, recommendations and other financial strategy services offered by full service firms. The discount broker is simply a facilitator. If you expect to receive any kind of advice or investment guidance, you must expect to pay for it and need to see a full service broker.

That being said, the growth and success of discount brokerages has created tremendous competition and these firms are adding back a lot of services. You will find a lot more info and advice on the brokerage web sites in the form of reports on stocks, market trends and other factors relevant to your investment decisions. It's not the one on one kind of advice of the old days but you can get a little more guidance than you might expect from a low, flat trade rate!

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