How Exactly Do You Buy Stocks Online?
Wednesday, June 24th, 2009 at
4:59 am
which website do I use? and if I use Etrade, for example, what do I go for in terms of monthly fees????
Tagged with: Exactly • Online • Stocks
Filed under: How To
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You would pay $7 a trade (a buy or a sell.)
Online broker, mutual funds
Open an account with a brokerage firm that offers online trading and deposit funds in the account.
I use Scottrade.
Excellent trading platforms.
No account maintenance fees.
$500.00 minimum to open an account.
Very good research sources.
Excellent customer service.
Member of SIPC (Securities Investor Protection Corporation).
Free “GainsKeeper” software for cost-basis accounting.
$7.00 online trading commission for stock over $1.00/share.
Once you have decided to buy a specific stock go to your account stock order entry screen and enter the required information such as:
Order Type
# of shares
Stock ticker symbol
Order duration
Review your order to verify that you typed in the correct information.
Send the order to your brokerage firm.
For comparison purposes:
E-trade’s standard online commission is $12.99.
T.D. Ameritrade’s online commission is $9.99.
If your looking for a good discount broker, than these are good:
Sharebuilder, no minimum 5 dollars trades, 10 dollar real time trades
Zecco is another good site, wit good tools, I thnk theres a minimum
Scottrade has 7 dollar trade, haven’t really heard nethin bad about them
I use buyandhold.com they have good monthly plans, 14.99 for unlimited trades, or 6.99 for 2 trades a month. I use this for my long term trades.
I’m about to open either a sharebuilder or a scottrade for my short term trading.
but i would recommend visiting all the sites and compare to see which is right with you. Some other sites are interactive brokers, and charles schwab… just compare, theres no rush, the market doesn’t look like its gonna go up for another 1-2 years
The best place I found is OptionsXpress. Very low to no fees, depending on how much money you put in your account. They also have excellent tools for educating yourself and tracking your stocks.
go to amazon.com