2006-09-20 05:03:51 · 8 answers · asked by JistheRealDeal 5 in Business & Finance ➔ Investing
I assume you are speaking of online stock trading.
I have been doing it for years. It is a great saving over using stock brokers like the old days.
However, one need to know what they are doing to stay out of trouble. Although most brokage firm safeguard people from high risk trading methods (i.e. margins) without some sort of pre-approval, there are still plenty of ways people can get into trouble. For some people is like a high-roller gambling site.
There are several critiera for selecting a vendor (or site) that is right for you. Here are some things to consider:
- what research resources do they offer
- what are their commission charge for trading stock online and over the phone. There might be time when during a sell-out the web site is jammed with high volume traffic, you will need to pick up the phone to trade
- what are their commission rate for trading options, both on and off-line. If you think you might want to trade options
- depending on the type of account, there might be hidden charges. For example, to close an IRA account from Fidelity will cost you $50 and 2 months time.
- depending on how complex your trade might be, some site are better than others in handling the types of trades
- other software capability to help you keep track of activities.
Best of luck.
2006-09-20 05:12:46 · answer #1 · answered by JQT 6 · 1⤊ 0⤋
I guess that depends what exactly you're trading! There are a few sites that I frequent for both buying and selling! If you're smart about it you can make a decent amount of money selling...and get some great deals on items you are purchasing! Take a look at the fees associated with any site that you are considering...some sites are free!
And I've found that using Paypal (http://www.paypal.com) for the money exchange works really well for very minimal fees to the seller.
http://www.ebay.com I've never sold anything on this site...only made both auction and "Buy-it-now" purchases. Only rarely do I have a problem with the sellers (e.g. not receiving item, overcharging for shipping)
http://www.etsy.com I've purchased many items on this site, although I haven't started selling yet. This is a site mainly for handcrafted/homemade items and most sellers use Paypal for the money exchange here as well
http://www.craigslist.com This site is terrific for apartment renting; selling services; and selling select merchandise (e.g. used furniture, cars, etc.). I have sold many many items on this site, and I've also rented two apartments from their listings. I live in the NYC area, so Craig's List is huge out here, but they have a site set up for pretty much every major city.
I hope this helps!
2006-09-20 12:19:01 · answer #2 · answered by danielle_thomas 2 · 0⤊ 0⤋
If you are talking about buying stock on the internet, it is definitely worth it. The commission is a lot cheaper. Be careful what stock you buy. You can make money or lose money if you get a bad stock. Do your research.
2006-09-20 12:46:26 · answer #3 · answered by bobcwebb 2 · 0⤊ 0⤋
It saves money over conventional brokers, but you get no investment advice and are responsible for your own choices. Deal with a reputable online trader like E*Trade or TDAmeritrade.
2006-09-20 12:12:31 · answer #4 · answered by kreevich 5 · 1⤊ 0⤋
It's worth every dime...and u can get great things from other countries without going abroad... :-)
2006-09-20 12:16:56 · answer #5 · answered by Anonymous · 0⤊ 0⤋
plenty fake and mark up, followed with spam
but it is almost free market in here, so get used to it , and be wary
2006-09-20 12:25:57 · answer #6 · answered by Henry W 7 · 0⤊ 0⤋
Yes.
2006-09-20 18:23:06 · answer #7 · answered by Anonymous · 0⤊ 1⤋
I love it.
www.scottrade.com
2006-09-20 15:04:04 · answer #8 · answered by Anonymous · 0⤊ 0⤋