Traditionally, securities trading assignment were carried out at bank and investment firm offices and through phone services. Depending on the assignment, the customer must give the necessary information for the bank of the investment firm to implement the assignment from the customer.
Assignments are carried out as far as possible. However, sometimes it may be that the customer gives, for example, such a low limit price for a purchase assignment that the securities in question cannot be purchased so inexpensively. On the other hand, a sales assignment may remain unimplemented for the limit price is too high.
Today, there are also online services through which the customer can autonomously give assignments and follow the trend in their investment value. Banks and investment firms provide services on their online sites, with the technical structure implemented at their own discretion. The customer can choose among the offered services the ones that best meet their needs.
The online service contract always come with the general terms and conditions drafted by the bank of investment firm, also establishing the division of responsibilities between the service provider and the customer. It is advisable for the customer to read the terms and conditions of the service contract before signing it. The customer using the online services has, as a premise, more independence as compared to the personal or phone services provided by a bank employee.
The service charges of online service assignments are normally lower than in personal customer service. Counterbalancing speed, easiness and lower prices, the customer has a slightly more pronounced responsibility for the assignments made online, in contrast to the assignments made through personal customer service.
Although many service providers’ online services provider equally easy access to both domestic and foreign investment products worldwide, it is good to remember the potential specific characteristics, different pricing systems and reporting.