Companies that sell discount brokerage software online make bulk purchases and pass on the benefits of low prices to customers. Software is also purchased from companies that are overstocked or going out of business. Auctions and closeouts are other places where you can buy online brokerage software at discounted prices.
The brokerage software has all the features that are available in standard brokerage software. Brokerage firms use the software to provide online brokerage services to clients. It has different tools that allow the processing of transactions, order routing, execution and settlement, maintenance and monitoring of positions.
It allows clients to access account information and trade securities online. It has turnkey portfolio management tools, which can be used by investment advisors to effectively manage all client assets. The tool has a master account, which lists all the assets of different clients under the advisor’s management. Assets can contain stocks, bonds, and mutual funds from different corporate organizations. It has a portfolio tracking tool that automatically updates customer data regarding the purchase and sale of assets. The client can also access their portfolio information through a one-step online login process and get daily updates on the decline or rise in the value of various assets.
It allows clients to place online orders for the purchase and sale of securities. They just need to enter the price at which they want the securities to be sold or bought. The software has access to the current prices of the securities and closes the deal as soon as the market price equals the price entered by the client.
Competitive pressures have forced brokerage firms to offer online trading services to their clients. The software meets the demands of clients such as investment account management, stock price information, market news and research. Small brokerage firms or startups that do not have the funds to purchase high-end brokerage software can purchase discount brokerage software that is available at lower prices.