Online discount brokers are for investors who would like a do-it-yourself (DIY) investing option: Investors who consider themselves DIY investors may choose to forego the assistance of an advisor. Investors can purchase investments and make trades through a registered discount broker that is a member of IIROC. Discount brokerages operate using online platforms. Investors typically pay lower commissions and fees because they don’t get advice about the suitability of the investments they choose to make for themselves. However, discount brokers may provide information on their websites to help clients better understand different types of investments and automated investment tools to help with financial planning or asset allocation.
Learn more about discount brokers and how they compare to online investment advisors and traditional full service investment firms.