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Anonymous
I am trying to open an online trading account. What is the difference between self-directed online cash trading account and broker-assisted online cash trading account?
I am interested in using DBS Vickers for its cash upfront investments.
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Terence Tan, CMT
11 Sep 2019
Head of Education at IG Asia
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Usually commissions are less for self-directed online trades than for broker-assisted.
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Gabriel Tham
16 Sep 2018
Tag Team Member at Kenichi Tag Team
Self-directed means you handle everything yourself when executing trades.
Broker assisted means ...
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Self-directed means trade executions are done online, either through a desktop/web-based platform or a mobile app. Broker-assisted refers to the more traditional way of calling your broker/remisier to place the order/trade for you (and naturally attracts higher commission since the middle-man needs to be paid too).
It is pretty common these days to see more self-directed trading, however in cases of emergency, you can usually still call their hotline for assistance at no extra charges for most.