i like to invest money online..Is it a good idea?

Question

I would like to start an online investment. I have 600$.
Where I can invest it?
What is egold? any 1 can give some clear idea about it?

Answer 1

Be careful of scams, there are LOADS of them out there! Before investing anything, check sites like scambusters, ripoffreport, etc. Or, put the name of the company in a search engine and add 'scam' after it. This won't keep you 100 percent safe, but it'll clue you into many scams out there. There are so many new scams each day it's hard to keep track.

http://www.scambusters.org

http://www.ripoffreport.com

PS: Do NOT trust the Better Businses Bureau, after all, they get $$ contributions from the companies they 'represent'. They are a fraud as well.

PPS: The way the US dollar is tanking, you'd be better off becoming a stock broker, or investing in solid gold or some other commodity. The dollar is really in trouble.

Answer 2

Depending on how much you have to invest, you have a lot of options.
Scottrade is really cheap, as the previous poster said, only $7 per trade. Just look for any hidden fees, such as inactivity fees (if you are going to use a buy and hold strategy) or, with some no load mutual funds, you are charged a significant fee if you sell the fund w/in 3 months of purchasing it (at least this is how my E*Trade acct works.)
As far as what to invest in, mutual funds and index funds are really good options. But I wouldn't completely rule out individual stocks. Even if you only put a small portion of your investable monies into a stock, or a few stocks (say 10-20%, maybe.). Your portfolio should still be pretty diverse, since most mutual funds themselves are by nature naturally diverse, unless you are investing in a sector or speciality fund.
Just do some research on the funds or companies you want to invest in - invest in what you know. And don't worry if you lose some money for a day or two in a row. Over the long term, chances are, you are going to make money. Just don't panic. In fact, the best think, in my opinion, is to invest your money, then check it maybe once a week, or even less frequently. Don't become a day trader, because not only will it kill you come tax time, it can be very stressful. Not to mention the cost of each trade.

Answer 3

I do my investing through my Wells Fargo bank online. Many online sites and all are based on a per trade cost. Most average about $9.99/ trade right now. Are you investing for retirement or just for personal gain? Scotttrade is a good site to look at but I would suggest buying index traded funds if you do buy anything. Picking individual stocks is risky business. Most professional money managers don't do a great job of this so no reason to believe a novice can be succesful. Do all your research before making any trades and watch for hidden fees. If doing mutual funds choose ones with No-Load and no 12-1b funds. Hope this helped more than confused. Not sure what egold is but you can purchase and exchange traded fund linked to the price of gold. It is GLD on the exchange. It is 1/10th the price of what gold is.

Answer 4

I think the best way to invest would be to open an account at Scottrade.com - they offer $7 online trades.

For investment ideas, you should take a look at what the best investors are buying at http://www.top10traders.com - this is a free site that lets you create a portfolio of stocks with $100,000 in "play" money. Each day the site ranks the best performing portfolios, so you can see how your picks perform compared to other investors. You can read posts on investing from the best traders, as well as share your own investing ideas. There is a charting feature, so you can see how your portfolio performs compared to the S&P 500. Also, you can create your own "group" so that you can see how you are doing compared to your friends.

Here are this month's best traders:

http://www.top10traders.com/Top10Standings.aspx

Good luck.

Answer 5

You can open an account for $500 with Scottrade and trading commissions are $7, which is cheap. I agree that diversified exchange traded funds (ETFs) are a good option, or else a no-load no-transaction-fee index fund. I'd suggest staying away from gold. Gold has been a poor long-term investment. Sure, if you have a good understanding of what influences gold, it's possible to do well trading it, but most people aren't that good.

Answer 6

OK, does 300% return in 15 months excite you? I am talking from my personal experience here. I have started with USD12K in 30.8.2006 and from that time, they never miss to provide me with the monthly return as promised. They used the scale of 10%x3months + 15%x3months + 20%x3months + 25%x3months + 30%x3months.

The best part of it, they have started a new product called EMF that had a value of USD1 in December 2006 and now valued at USD2.11 per unit and expected to reach USD4 in April 2007.

See for yourself and experience this exciting investement. Mind you, this is not a HYIP but real investment in offshore financial market.

You can register free for 14 days but need an introducer to start. Use mind: mygha1605101 to register yourself.

Answer 7

it is a great idea but there are alot of good and bad online trading companies it also depends on what your trading needs are. If you would like to get your foot in the door without making a substantial investment you might want to try penny stocks which can give you quite a bit of experience and profit. You might want to look up Ameritrade, sharebuilder, etrade, just to name a few. With these companies you have control over your transactions some of these companies have real time trades so you can grab and push your paper as soon as you want. You must remember to be successful you must do your due diligents and research every facet of the business of online trading, its pros and cons everything. If you would like a complete breakdown on penny stocks i could be of service to you just contact me via email on my profile. Good luck & Godspeed.

Answer 8

Check the website below to learn more on investments
Hope it helps

http://money-review-site.com/investment.html

Answer 9

Like "longarm" said, you can open an account with "scott trade" or similar on line broker. Be sure they are reputable !!

I have heard some bad things about egold though I have know nothing of them nor do I plan on doing business with them.

Answer 10

1) Scottrade.
2) A currency backed by gold.