cheapest service with most advantages (gain/loss track) for a small investor, just starting out. no monthly fee. sharebuilder?
2006-08-16 16:40:38 · 5 answers · asked by xav 1 in Business & Finance ➔ Investing
If you are a small investor, just starting out - why not do it the other way round - sign up for the brokerage that offers more service, learn what you need.......then swap to a no frills service ?
This is legalised gambling & it sometimes pays, to pay someone to teach you how the bets are placed. It's amazing how many ways there are to lose money if you don't know what you're doing.
NOTE: There is the book - Investing Online, for Dummies.
2006-08-16 16:53:51 · answer #1 · answered by dryheatdave 6 · 0⤊ 0⤋
Probaby Scottrade is a good place to start your account. I've used them for one small account for some time now without any problems. I would caution anyone just beginning about overtrading in an account with cheap commissions. The fewer trades you can make, the more profitable you will likely be. Frequent trading is best left for professionals, and not the rest of us. I would also encourage you to buy ETFs instead of individual stocks (see www.etfconnect.com) because it is less risky due to the diversification you will acheive. Good luck!
2006-08-17 01:39:39 · answer #2 · answered by perdidobums 5 · 0⤊ 0⤋
Don't go for the cheapest, go for the lower/lowest commission based brokerage that offers good execution service, internet hospitality, quality research, etc. Would you buy and drive a Yugo because it is the cheapest car you can buy?
2006-08-16 18:30:10 · answer #3 · answered by homerunhitter 4 · 0⤊ 0⤋
Scottrade - $7 market trades w/ no monthly fee.
2006-08-16 17:37:04 · answer #4 · answered by Anonymous · 0⤊ 0⤋
Scottrade. I'm a small investor too and started with scottrade.
2006-08-17 06:59:59 · answer #5 · answered by Anonymous · 0⤊ 0⤋