Stock Markets Exposed
What is a good online stock trading broker?
I am currently with sharebuilder, but I do not have any money in my portfolio simply because right now I'm learning by reading their website and some books namely "stock investing for dummies." Anyways from some opinions I have heard about sharebuilder is that it is a great place for the beginning stock trader to begin but some of the drawbacks mentioned were that they have high fees. I wanted to know from anyone that is a novice, intermediate, or very experienced online stock trader which brokers they have used, the pros and cons to each one (ease of use, reasonable fees), and ultimately which broker they currently use.
Public Comments
- It depends on what type of trading you are doing that will determine if Sharebuilder is "high" on their costs. If you are participating in a long-term strategy that involves ETF's or DRIP Plans, then the $4 per purchase is very low. It is one of the best purchase prices online. However, if you are buying and selling on a regular basis, then it is not such a great deal. It is $4 to purchase and $15 to sell. So, if you plan on purchasing and holding, Sharebuilder is a very good company. If you plan on buying and selling often, then look into some of the other companies.
- We're kind of rookies and got started working with stock options that were issued through Etrade. We've been very happy with them, although you never like the fees much. Customer service and ease of use are great!!
- $4 to buy, which is really good & $15 to sell, which is not so good. Like your other post mentioned, if you are buying and holding for the long term, $4 a trade is great.
- Contrary to what many folks might tell you or what many others might advise, this is what you should do: Start with a virtual trading account or a paper trading account [they are the same]. Without putting up one dollar of your hard-earned money, you can sharpen your trading skills - and improve on your trading rules for each strategy you decide to select. THEN while studying the market as well as building confidence AND saving money, you might find yourself ready to go "live" in the market with your money. As you are studying, getting ready, for those terms you come across which are not clear to you, you can usually find excellent, easy-to-understand definitions of many financial and investment terms by going to this free site, recognized by Y! A as a "Featured Knowledge Partner": http://investopedia.com Investopedia also has a free, paper trading platform. You can set up a virtual account and almost trade as though you were trading with your own hard-earned money. http://finance.yahoo.com is also recognized by Y! A as a "Featured Knowledge Partner" Thanks for asking your Q! I enjoyed answering it! VTY, Ron Berue Yes, that is my real last name!
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