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What online broking website is good to start off with for a beginner investor?

Posted by admin in Finance Monday, 5 December 2011 00:07 4 Comments

I want to invest 10,000 but want a online brokerage with low commission. How do i know which online brokerage is for me? Do i compare websites in order to find which is best for me?

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This entry was posted on Monday, December 5th, 2011 at 00:07 and is filed under Finance. You can follow any responses to this entry through the RSS 2.0 feed. Both comments and pings are currently closed.

4 Comments

  1. 12/05/2011 00:25
    posted by Bad Dad

    If you are not very familiar with how the market operates, i suggest you find an online brokerage that lets you practice with a “make believe” portfolio for a period of time. By definition most online brokerages offer little help in actual trading, and mistakes are not tolerated in buying and selling. I love my online broker, but you need to be very comfortable with the idea of instant trading, and basically doing your own thing. You can visit a site and take tours through which is extremely valuable. Many traders start with a traditional broker, then switch when the feel comfortable trading on their own, and saving money. You have to do your own homework and not expect them to help you unless you are willing to pay additional fees.

  2. 12/05/2011 01:17
    posted by Stush

    It depends what you want to invest in, how often you want to move positions and fundamentally whether you just need a broker, or you want a research analyst to advise you on trades as well.

  4. 12/05/2011 02:49
    posted by A nobody

    All major brokerage firms provide their clients with on-line services, including trading platforms, latest market & financial news and research.

    Customer need to select the site that is best for them. Traders have requirements in a site, while investors have other requirements.

    Although most sites are geared to general securities and commodities, however customers may have special needs for the types of products they trade, and the markets in which they trade. For example I use Fidelity for investing. Scottrade for equities trading and ThinkorSwim for option trading

    It seems that the most popular firms for on-line investing/trading all of which provide excellent platforms and services are; Scottrade; Chas.Schwab; TDAmeritrade; Fidelity; E-Trade and Thinkorswim. In your situation, you may be best served if you select Scottrade or Ameritrade