EuropeFX Review Answered: “What Is a Brokerage Trade Confirmation?”

When you place a trade through a stockbroker or brokerage account you receive a brokerage trade confirmation. This is like a receipt for your trade. It is either mailed to you or sent to you via email depending on your preference. According the EuropeFX review, it’s important to look over each trade confirmation. The items included in your trade confirmation may vary but there are a few that are likely to be listed:

• The shares you bought or sold and the price per share
• The date of the trade
• The amount paid to the brokerage firm you use (most firms charge a commission but the amount varies)
• The number of the account where the trade took place
• The net value of the trade after the commission for the brokerage firm is taken out

Pay Attention To Brokerage Trade Confirmations

If you don’t receive a trade confirmation or don’t look for one, you have no way of knowing that your trade was actually executed. If you notice information on your confirmation that looks incorrect then you must contact your firm right away. It’s also good to keep a copy of all your confirmations for your own records. Come tax time, it is good to have detailed records so you can account for all losses and gains. Copies also come in handy if you are ever audited.

What If I Haven’t Kept Records Of Confirmations?

If you haven’t been keeping copies of your trade confirmations, don’t worry. You can figure out the trade information from you account statements. But this is time-consuming, tedious work. So if you haven’t already, keep track of your confirmations. This also provides you the ability to double check that your account statements are correct. EuropeFX review recommends always checking to make sure that your trade confirmations match with your account statements.