Geting into the stock market: just a kid, need to know the steps.?

Question

ok. I'm thirteen. I'm very interested in getting into the stock market. and i don't understand much about buying them or selling them but i know the basics about stocks. (why the fluctuate, etc.)

please answer

how would i go about buying stocks

do you need a stock broker or can you do t yourself? (feel dumb asking that) [i know they help manage your stocks. and buy and sell automatically]

i know im probably getting into more than i need to be right now. but im just curious. best answer 10 pts

Answer 1

You can either buy directly from a certain company through DRIP (dividend reinvestment program) or you can choose to buy through a broker.  Either way, you will probably have to do this through your parents.  There are two types of brokers: full-service and discount.  Knowing that you are only 13, I would suggest a discount broker simply because they are cheaper.

I personally use Firstrade and I think it would be a great option for you since they do not require any minimum deposits.  Some big name brokers like Etrade require at least $1,000 deposits and I don't know if you have that kind of money.  Whatever you do, do some research on your own and choose wisely.  Good luck trading.

Answer 2

Yes you must have a broker to buy and sell stocks.  You typically set an account up and use deposited money to buy your stocks and other investments.  Most every bank offers some brokering services.  There are also specialized firms such as Charles Schwab and E*Trade.  Just to name a couple.

Answer 3

Consider a DRIP program that allows you to buy stock directly from the company you choose. Most large cap stocks have such programs that allow you to make contributions to an account and buy shares as your balance allows. You don't have to worry about a broker, minimum deposits, fees or anything like that. I highly recommend Disney, and I am not making fun of your age. It is a great stock, solid as a rock and a AAA investment grade growth stock selling at a relative premium.

Best of luck to you.