I'm thinking about starting my scottTrade account today. Is $200 enough to begin investing?
2006-06-05 12:47:55 · 5 answers · asked by Orlando B 1 in Business & Finance ➔ Investing
You need at least $500 to start an account with Scottrade. I think Scottrade is the best choice if you are willing to do your own research and make your own investment decisions. And if you are investing in the Stock market, you should do some research, so yes, Scottrade is a smart decision.
2006-06-06 04:00:37 · answer #1 · answered by Yardbird 5 · 0⤊ 0⤋
Scottrade is, in my opinion, an excellent on-line brokerage but somewhat short in learning opportunities. Before you start investing, start educating yourself about stocks on sites such as Yahoo Finance, the Motley Fool, American Association of Individual Investors, etc. Is $200 enough to start investing? In some mutual funds, yes, but see the sentence about education (above).
2006-06-05 19:56:07 · answer #2 · answered by kearneyconsulting 6 · 0⤊ 0⤋
At 200 dollars, the $7 per trade fee eats at the total amount and it not enough to really make any money. I would put the money into ingdirect (at 4.25% right now) and start reading up on stocks. Pretend to buy some stocks and see how you do. Then when you have around 1K and some practice, come back.
2006-06-05 19:57:31 · answer #3 · answered by admoundc 2 · 0⤊ 0⤋
Try LowTrades, they offer similar service to Scott Trade. I have been using them for 2 years and they are excellent for small investors.
2006-06-06 08:33:07 · answer #4 · answered by newtaratravel 2 · 0⤊ 0⤋
you need at least $1000-$5000
but some invest $50,000-$2,500,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,0000,0000,000,0,00,0000,00,0,0,0000,000,000,000,0000,000,0,000,00,000000,0000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,00000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000,0000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000
2006-06-05 19:53:31 · answer #5 · answered by abs of steel 3 · 0⤊ 0⤋