What ecompanies offer Online trading?

Question

I'm looking to invest under $500 in stock, and looking to buy and hold for the long term.

The only thing turning me off is the trading fees. I don't want spend 13 dollars / trade when I'm only buying a few shares of stock. Any suggestions?

Thanks

Answer 1

Your best bet is probably Scottrade, which has fees of $7 a trade and a minimum starting balance of $500 I believe.  That's pretty much the cheapest you're gonna get, and the lowest starting balance.

The other big ones are E-Trade and TD Ameritrade, but they require you to put more money in to start with and somewhat more expensive per trade.

Answer 2

You don't have to pay trading fees.  You can buy stock for free if you do it "direct" - enrol in a DRIP (div. reinvestment plan).  Hundreds of blue-chip and great companies have them, like General Electric and JOhnson and Johnson.  It sounds like it would be perfect for you and your income range and strategy.  I've written alot about DRIPs on my site, so feel free to come over and ask me more there.

MoneyEnergy

http://www.getmoneyenergy.com