What is the best online trading site to learn about online trading? I'm completely inexperienced?

Question

I know Zecco is free, but is it trustworthy? I've also heard good things about optionsXpress, but, that's why I'm asking - because I'm confused.

If it makes a difference, I'm 18.

Answer 1

you can try http://freeclips.2kool4u.net

good luck :)

Answer 2

i think you can try overnight income trading. it more simple, workable and profitable.  

Answer 3

I have been investing in stocks and funds for the past 20 years. My experience with online trading is simple - it is the surest way of losing money!

I presume you are planning to get into investments to make money. The best way to do so is to stay away from trading of any sort - online or off.

Build up a good portfolio of 8-10 better known - and therefore, expensive - stocks. Over a period of time (greater than 5 years) you will get ample returns. Then visit Las Vegas on holiday and hit the gaming tables with a part of your profits.

Answer 4

First off "ineedanswers", dont listen to a word of what "Subhankar" said. I think its silly to brag about having 20 years of market experience, then saying in all those 20 years you lost money. Obviously, something is wrong.

Anyway, Zecco is/might be a good place to start for a new investor as trading costs can really have a big impact when starting out with limited funds.

I personally have one account open with Optionsxpress, and often recommend my clients to open an account with them. They do have a trading fee of $15 per trade, and as time goes by, it is lowered to $10.

TD Ameritrade is also another good one to have. Again, I have an account with them, so I am speaking from experience.

I guess the biggest thing to keep in mind is that each online broker has its ups and downs. Some will cost more to join, but have better/wider variety of investing tools for you to use. While others have lower costs, but the tools are not so good.

Another important feature to look for is active routing. Some brokers are better at it than others, but basically, when you place a trade, often that trade is listed on different exchanges at different prices. New routing technology automatically routes you to the exchange with the best price (lower cost). If you plan on doing some short term trading, it can have a significant impact on your trading costs as well.

I do suggest joining a site or getting together with a group of experienced and SUCCESSFUL investors/traders before just diving in. With a little hard work (meaning lots of study time), diligence, and patients, you can make a fantastic living through investing.

Best wishes,

Christian Nago

CEO & Chief Investment Officer

http://www.intrepidtradings.com

Answer 5

First I would try Investopedia.com

This site lets you play the market with fake money but It has some of the best learning tools and ideas on the web. This is the best site for information about the stock market in my opinion

If you are looking for a simple online broker that is not to hard to figure out how to use. Try Sharebuilder, ETrade, or TradeKing.

Once you gain some experience try ThinkOrSwim.com

They have a lot of tutorials and videos about how to use their software and tons of information about investing. Their software platform is a little advanced but once you get the hang of it's great.

Answer 6

If you are a beginner, I would definitely not recommend Zecco.  I've heard that their website is very hard to use and not beginner-friendly. Their customer service is terrible as well.  In addition, Zecco is only free if you deposit at least $2,500.  

I currently use Firstrade ( http://www.firstrade.com ).  The website is very easy to use and the commission rates are lower than big name brokers like Scottrade, Ameritrade, Etrade, and Schwab.  They are cheaper than optionsXpress as well.  I've had no problems with them so far and would definitely recommend you to check them out.

Online brokers typically do have tutorials and learning tools, but I would recommend trying books and other online sources as well.  One of my favorite websites is Investopedia ( http://www.investopedia.com/ ).

Answer 7

Zecco is definitely a trustworthy company for trading.  I currently have an account with them and they have a nice interface and the free trades are huge plus when just starting out.

I have also used scottrade but their transaction fee it $7 a trade so it eats into your portfolio quickly if you trade a few times a month with a small amount.

as for just learning, check out

http://www.investopedia.com/beginner.asp  

or my own personal favorite:  http://www.noobinvestors.com :) (though I need to update it more)