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The only interaction with an online broker is over the phone or via the Internet. Cost is usually based on a per-transaction or per-share basis, allowing you to open an account with relatively little money. An account with an online broker allows you to buy and sell stocks/options instantly with just a few clicks.

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Often, the easiest method of buying stocks without a broker is by participating in a company's direct stock plan (DSP). These plans were originally conceived generations ago as a way for businesses to let smaller investors buy ownership directly from the company.

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