What is the minimum amount of money I need to put with my broker in order to trade stocks. I do not wish to trade on margin.
Which broker gives a minimum trading fee ?
2006-12-31 07:52:59 · 10 answers · asked by Androit 1 in Business & Finance ➔ Investing
OptionsXpress only requires that you have enough money in your account to pay for whatever stock you wish to purchase. Sharebuilder has a similar requirement.
2006-12-31 08:17:34 · answer #1 · answered by Anonymous · 0⤊ 0⤋
There is no minimums. Scottrade has no minimums, no inactivity fees, etc, and they charge $7 a trade...which while not the lowest charges, is pretty good. Another low price broker that has gotten good reviews is Tradeking, which is $4.95 per trade, but I don't know what their other fees are (inactivity, etc). Beware that there are other charges other than commissions at some brokers. Some will charge you for stock data, others for inactivity fees, etc. These charges can more than offset the savings from cheap commissions if you don't trade much. Bad executions (which means that you get a poor price on your trade) can cost you more than commissions. Barron's, Smart Money, and others have reviews of brokers...I'd read through them before selecting one. I wouldn't pay much attention to their ratings, though. Everyone has different needs...I'd use the info in their articles to decide what broker best meets your needs.
2006-12-31 16:39:58 · answer #2 · answered by Alan 3 · 2⤊ 0⤋
While it is always good to start investing, I would caution you against making too many trades that are small. If you make lots of small trades than teh brokerage fees will hurt your potential return. Example, if the broker charges a min. of $40 per transaction and you buy $400 worth of a stock, you just lost 10%.
2006-12-31 16:54:57 · answer #3 · answered by ulchka 3 · 0⤊ 0⤋
you can invest any amount in stocks, doesnt matter what is minimum, but the broker will charge a minimum commission whcih would be nominal
But always look at the good scrip and not the cheapest one while buying, you can always buy and lose the whole money by investing there
2007-01-01 01:27:42 · answer #4 · answered by shreesha 2 · 0⤊ 0⤋
Stop right where you are. If you're asking this question, no offense, but not only haven't you got enough cash, I'd say you need more experience/knowledge first.
Join a site such as marketocracy.com, etc.. and learn how to invest and make decisions with play money BEFORE you jump in with real ducats.
Then, Tuesday when you head off to work, make an appt with your HR manager (or equivalent) and sign up for your company's 401K up to at least the percentage amount at which they stop matching. Put your allocations in something commensurate with your age (younger=riskier...older=safer) and let your money work for you.
2006-12-31 16:48:21 · answer #5 · answered by T J 2 · 2⤊ 0⤋
I think almost all will charge you a shady "maintenance fee" of at least $25 if you start with under $2k.
2006-12-31 16:00:38 · answer #6 · answered by sirtitan45 4 · 0⤊ 1⤋
Depeds on wat company's stocks they r....some are really high, some r low. If they cost a lot, the chances r that they will rise because the company is doing good.
2006-12-31 16:01:31 · answer #7 · answered by Anonymous · 0⤊ 0⤋
1) $3.01 USD.
2) SogoInvest.
2006-12-31 16:23:53 · answer #8 · answered by Anonymous · 0⤊ 1⤋
If you have to ask about minimum amounts then you probably do not have enough.
2006-12-31 16:01:37 · answer #9 · answered by Maldives 3 · 0⤊ 3⤋