What Is The Easiest Most Feasible Online Company To Buy Stocks From.?
Tuesday, June 30th, 2009 at
5:00 pm
Hi, My Son and Myself want to play in penny stocks. What are the best internet companies to use and set up an acount with. What should I beware of and to avoid. Are there hidden fees that they hit you with. Thank You
Tagged with: Acount • Buy Stocks • Company • Easiest • Feasible • From • Internet Companies • Most • Online • Online Stocks • Penny Stocks • Stocks • What
Filed under: How To
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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 research sources.
Excellent trading platforms (very user friendly).
Excellent customer service (394 Branch offices nationwide).
$500.00 minimum to open an account.
$7.00 online trading commission for stock over $1.00 a share.
For stock less than $1.00 a share the commission charge is $7.00 plus 1/2% of principal.
If you open an online trading account with Scottrade make sure that you also sign up for online confirmations and statements (NO charge).
If you do not sign up for this you will be charged:
Mailed confirmation = $1.00
Mailed statement = $2.00
Penny stocks maybe cheap.. but they are equally risky. If you are trying to help your son, teach him the basics of investing, setting up a diversified portfolio, etc. Penny stocks are the last thing an newcomer to investing should be dabbling in. Especially if you can’t determine what online broker to use.
Scottrade is easy to use. Limit orders and market orders are $7 per trade (buy or sell) for unlimited shares. Unless you use margin or bounce a check there should be no other fees. The SEC charges about one penny for each $1500 of sale proceeds.