Online trading help?

Question

I want to start trading stocks online. I'm a complete newcomer to the whole thing. Which website is cheaper for someone who won't trade a lot, but just a few times a month? And how can I learn about trading without getting a broker or stuff? Any helpful websites that explain everything in very simple terms?

If you can answer any of the above, then please do.

Answer 1

I trade stocks at scoottrade.com once or twice a year transactions the fee is still $7 a trade and they don't bother you , An email about once a month.

Answer 2

This is a copy of my answer to a previous question.  I think it applies here as well:

Oh my. Unless you are a super expert, what you are suggesting is a sure way to bankruptcy. Pretty much all that is safe for a financially unsophisticated investor is to research mutual funds, find one that has a solid reputation, and invest for the long term. Even sophisticated investors see the stock market as a long term investment.

One thing to watch out for if you go with a company like Merrill Lynch is their fees. You can lose a large part of your return in fees.

Answer 3

Like I said in the answer to your previous question, if you are new to investing, you should definitely check out Investopedia ( http://www.investopedia.com/ ). It's a great website to learn about investing in the stock market.

Again, there are ways to trade without a broker in which you can buy stocks directly from a company through a dividend reinvestment program (DRIP). However, not all companies offer this so I would recommend just going through a broker.

Some brokers like Etrade will charge you maintenance or inactivity fees if you do not trade a certain amount during a period of time.  Therefore, you should look for a broker that does not have these extra and unnecessary fees.

Again, I would definitely recommend Firstrade ( http://www.firstrade.com ).  If you're looking for something cheap, you can't go wrong with their low commission rates.  I've been using them for years and now and have been very satisfied with their service.

Zecco may seem cheap with their 10 free trades a month.  However, they require that you deposit a minimum of $2,500.  In addition, they charge you elsewhere with unnecessary fees for simple services.  SmartMoney rated Zecco as the worst in the research and customer service categories.  As for Sogotrade, they tied Zecco for worst in the research category.  So remember, you get what you pay for.

Answer 4

Chad, I recommend an online brokerage firm that has good beginner qualitys {like tutorials or an easy to understand set up}, i use zecco, better then schwab, etrade, etc. they are the only ones with free stock trades, no minumums..all the others will charge you fees for trading, but compare and see for yourself. Good luck and happy investing!

http://friends.zecco.com/r/a7a2877caab81...

Answer 5

Don't use Zecco. They were rated very poorly in customer service by Barron's. Scottrade is good... but not the best place for a total beginneer.

Don't look for the cheapest broker. The cheaper they are... the less customer service they have or they're set up for the very experianced, active trader.

Best bets;

Charles Schwab

Fidelity

BTW: Don't trade at all if you haven't taken at least 6 months to a year learning investing or trading. Also.... wait 5-10 years before trading stocks under $5.

Answer 6

SogoTrade offers $1.50 - $3.00 online equity trades.All accounts are protected by SIPC.

The following tutorials might be helpful to you:

http://ezinearticles.com/?Stock-Investin...

http://ezinearticles.com/?Things-to-Know...