2006-07-25 04:58:07 · 5 answers · asked by my sign 4 in Business & Finance ➔ Investing
One site that hasn't been mentioned is Foliofn.com - The commissions are only four dollars a trade, which is extremely competitive, and they allow you to buy fractional shares, which is extremely helpful for investors with small amounts of money.
(Let's say you wanted to invest $100 dollars in a company whose shares sold for $35 dollars a share. At most brokerages you could only buy 2 shares ($70) leaving you with 30 dollars left over. With Foliofn.com you can buy 2.85 shares, thus fully investing your hundred dollars. )
As a bonus, they don't charge for re-investment of your dividends, and allow you to use your dividend to purchase more fractions of shares. This is very valuable to the small investor, really allowing your profits to grow.
The only negative is that they don't allow you to do "real-time" trades, you have to wait a day or so for your trades to execute. If you are investing for the medium to long-term this is no problem. (Non-professionals shouldn't even be doing day-trading.)
These are only a few of the good aspects, I've been using foliofn for 3 years and have been very happy. So check 'em out, hope that helps. Happy investing!
2006-07-25 12:10:52 · answer #1 · answered by P Bass 2 · 1⤊ 0⤋
I use E-Trade and like it and commissions are low. Other good ones are TD Ameritrade and Fidelity. I think the one with lowest commissions is Marsco, which is important if you are not investing a lot of money.
Also, you should buy a security in pieces in order to achieve the lowest average price. In this case the commission cost matters even more.
2006-07-25 12:07:15 · answer #2 · answered by Tom H 4 · 0⤊ 0⤋
Lots of good sites. E-trade or TDWaterhouse and Scotts are the cheaper ones. As with many of these online traders, your per-trade fees vary from $5 to $10. They all have perks like 2-second guarantee trading, discount when you reach certain level of trading within a month or quarter etc. Of course, you take risks two ways---risk of trading, and risk of the provider. But lot of them are publicly traded companies with good financials.
2006-07-25 12:03:19 · answer #3 · answered by paanbahar 4 · 0⤊ 0⤋
Etrade.com
2006-07-25 12:12:56 · answer #4 · answered by bfarris21 1 · 0⤊ 0⤋
sharebuilder.com
2006-07-25 12:01:06 · answer #5 · answered by embem171 4 · 0⤊ 0⤋