I Want To Begin Trading Stocks Online?
Sunday, June 28th, 2009 at
12:01 am
I am stuck between two online companies. The two companies are Scottrade.com and TDAmeritrade.com. I will probably start with $300-$500. I wish I can add more but I can’t afford it. Keep in mind that it can possibly be $300 investment. Which is the best one for me?
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It will be difficult to “trade” with only 300 – 500, since commissions will eat away at any potential profits. On each trade, you’ll need to make about 5% just to cover commissions. Not worth it
Yorkhttp://yorkinvestmentreport.com
I use Scottrade.
NO account maintenance, service, or inactivity fees.
Free real time stock quotes and charts.
Free real time Dow jOnes news.
Free “GainsKeeper” software for cost basis accounting.
Excellent trading platforms (very user friendly).
Excellent research sources.
Excellent customer service (399 Branch offices nationwide).
Member SIPC (Securities Investor Protection Corporation).
Tutorial and webcast available to customers.
$500.00 minimum to open an account.
$7.00 online trading commission for stock over $1.00 a share.http://www.scottrade.com/online_broker_c…
I use Scottrade but there are many of them out there to try from. Its free to open an account and I believe a $500 minimum initial investment is required. This way you can make all your own investment decisions and use the tools and reports provided by Scottrade. All the online dealers have different rates, but Scottrade only charges $7 per transaction so you never have to worry about what you will be charged. If you open an account and use: PVMI2081 as your referral code, you will get 3 free trades to start with. Here is a link to their web site:
Niether because SOGO and Tradeking are cheaper to trade stocks. They both range about 3 to 4 bucks per trade where the companies you mention are 7-10 per trade sometimes 14 per trade depending on how much your account has.