When you start trading on line, do you usually need to download some software?

Question

Do they require that you download software to be able to do online trading with?

Answer 1

Yes.  For example, if you trade with Fidelity at a certain level of cash value or trade frequency, you are offered a sophisticated trading program called Active Trader Pro (ATP) at no charge.  It can be downloaded in a few minutes and once your deposits are liquid, you're ready to go.

Answer 2

It depends on the brokerage. I have a mac and not all the software is compatible. For my commodity trading, I have on-line service. For my equities account, I have an on-line browser based service, but I cant access everything that other users ( Hewlett Packard, Dell, etc) get. So, call the broker and find out if there is a web-based product available.

Answer 3

Yes, they do normally.

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Answer 4

For actually trading on-line, each on-line broker has different possibilities.  For example, optionsXpress is purely on-line, and you do not download software.  Thinkorswim offers web trading, or you can download a java based programme, or you can trade from your mobile phone or blackberry.  These are just examples, but you will need to look at each on-line broker to see what is included in their package.

Apart from trading, you will need access to a stock analysis programme in order to pick stocks.  You can do this on-line with Yahoo! finance, but there are thousands of downloadable stock analysis software packages for free on the web.