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    All Forums | Investments

    Best Discount Broker for Beginners?

    DTher85
    mr_bollox
    SportsFan9698
    tenpinguru
    Participants:
    Search
    Views: 634
    Posts: 8
     
    DTher85
    DTher85
    Captain
    Participation Meter
    Joined: Oct, 2005
    Posts: 5310
    Posted: Oct. 11, 2010 - 9:14 PM ET #1

    Hey guys, I was wondering which site you recommend for a beginner to use?

    Here's what I am looking for in a broker

    - Easy to use
    - Plenty of learning materials, I want to learn as much as I can about trading.
    - A site that doesn't ask for a large initial deposit. Just looking to start off with a couple hundred dollars to play around with while I learn.
    - Cheap commissions since I am working with a small amount of money.

    This would basically just start off as a hobby until I learn much more and can become much more serious about investing.

    So far, some of the research I have done has led me to Fidelity and E*Trade. Which of these would you recommend for me, and is there another discount broker more suitable perhaps?

    Just a side-note, I have around 2k sitting in my Chase Bank account, so I can go as high as $500 or just switch over to E*Trade banking entirely since they offer a full slate of banking services.

    Just want some friendly advice, kind of getting sick of betting on sports and it really gets me nowhere financially, so I figure I might as well start a hobby in online investing since it will help prepare me for funding my retirement.

    Any advice would be great, thanks in advance. 
    Reply
    To remove first post, remove entire topic.
    Hey guys, I was wondering which site you recommend for a beginner to use?

    Here's what I am looking for in a broker

    - Easy to use
    - Plenty of learning materials, I want to learn as much as I can about trading.
    - A site that doesn't ask for a large initial deposit. Just looking to start off with a couple hundred dollars to play around with while I learn.
    - Cheap commissions since I am working with a small amount of money.

    This would basically just start off as a hobby until I learn much more and can become much more serious about investing.

    So far, some of the research I have done has led me to Fidelity and E*Trade. Which of these would you recommend for me, and is there another discount broker more suitable perhaps?

    Just a side-note, I have around 2k sitting in my Chase Bank account, so I can go as high as $500 or just switch over to E*Trade banking entirely since they offer a full slate of banking services.

    Just want some friendly advice, kind of getting sick of betting on sports and it really gets me nowhere financially, so I figure I might as well start a hobby in online investing since it will help prepare me for funding my retirement.

    Any advice would be great, thanks in advance. 
     
    DTher85
    DTher85
    Captain
    Participation Meter
    Joined: Oct, 2005
    Posts: 5310
    Posted: Oct. 11, 2010 - 9:17 PM ET #2

    "Just a side-note, I have around 2k sitting in my Chase Bank account, so I can go as high as $500 or just switch over to E*Trade banking entirely since they offer a full slate of banking services."

    I can go as high as $500 for an initial deposit that it*
    Reply
    "Just a side-note, I have around 2k sitting in my Chase Bank account, so I can go as high as $500 or just switch over to E*Trade banking entirely since they offer a full slate of banking services."

    I can go as high as $500 for an initial deposit that it*
     
    mr_bollox
    mr_bollox
    All-Star
    Participation Meter
    Joined: Oct, 2009
    Posts: 14400
    Posted: Oct. 12, 2010 - 12:25 AM ET #3

    go on the forums on fool.com
    Reply
    go on the forums on fool.com
     
    DTher85
    DTher85
    Captain
    Participation Meter
    Joined: Oct, 2005
    Posts: 5310
    Posted: Oct. 13, 2010 - 9:07 PM ET #4

    Just signed up for an account at TradeKing, no minimum balance, $4.95 trades, bunch of research tools to learn from and a forum. Basically everything I was looking for. Just need to send them a copy of the drivers license and voided check and I should be all set to trade!

    Thanks Bollox for leading me to fool.com, that will be a site I will be visiting often.

    Reply
    Just signed up for an account at TradeKing, no minimum balance, $4.95 trades, bunch of research tools to learn from and a forum. Basically everything I was looking for. Just need to send them a copy of the drivers license and voided check and I should be all set to trade!

    Thanks Bollox for leading me to fool.com, that will be a site I will be visiting often.

     
    SportsFan9698
    SportsFan9698
    Banned
    Participation Meter
    Joined: May, 2010
    Posts: 5575
    Posted: Oct. 13, 2010 - 11:53 PM ET #5

    I'm thoroughly convinced that you will eventually lose all of your capital trying to trade in a rigged game, after spending thousands of hours trying to beat it.  But if you must, I used to use etrade and I thought it was top notch.  I also think highly of scottrade.

    Do yourself a favor and buy all the silver bullion you can buy with your money and sleep very well at night


    Reply
    I'm thoroughly convinced that you will eventually lose all of your capital trying to trade in a rigged game, after spending thousands of hours trying to beat it.  But if you must, I used to use etrade and I thought it was top notch.  I also think highly of scottrade.

    Do yourself a favor and buy all the silver bullion you can buy with your money and sleep very well at night


     
    DTher85
    DTher85
    Captain
    Participation Meter
    Joined: Oct, 2005
    Posts: 5310
    Posted: Oct. 14, 2010 - 11:10 AM ET #6

    Quote Originally Posted by SportsFan9698:

    I'm thoroughly convinced that you will eventually lose all of your capital trying to trade in a rigged game, after spending thousands of hours trying to beat it.  But if you must, I used to use etrade and I thought it was top notch.  I also think highly of scottrade.

    Do yourself a favor and buy all the silver bullion you can buy with your money and sleep very well at night




    Yeah I am aware of the pitfalls associated with investing, I am not trying to become the next Warren Buffett or anything,just looking for a different hobby other then betting on sports.
    Reply
    Quote Originally Posted by SportsFan9698:

    I'm thoroughly convinced that you will eventually lose all of your capital trying to trade in a rigged game, after spending thousands of hours trying to beat it.  But if you must, I used to use etrade and I thought it was top notch.  I also think highly of scottrade.

    Do yourself a favor and buy all the silver bullion you can buy with your money and sleep very well at night




    Yeah I am aware of the pitfalls associated with investing, I am not trying to become the next Warren Buffett or anything,just looking for a different hobby other then betting on sports.
     
    SportsFan9698
    SportsFan9698
    Banned
    Participation Meter
    Joined: May, 2010
    Posts: 5575
    Posted: Oct. 14, 2010 - 11:55 AM ET #7

    If you want a nice hobby for the next few days, you need to read my last sentence again.  Then read it again and again.  Then use that as your starting point, and do all the research you can.

    Then join some of us over on the political forum, and start to read. 

    There will be some day that  you will thank somebody that you steered very clear of stocks, but that is up to you.

    Reply

    If you want a nice hobby for the next few days, you need to read my last sentence again.  Then read it again and again.  Then use that as your starting point, and do all the research you can.

    Then join some of us over on the political forum, and start to read. 

    There will be some day that  you will thank somebody that you steered very clear of stocks, but that is up to you.

     
     
    tenpinguru
    tenpinguru
    Rookie
    Participation Meter
    Joined: Nov, 2009
    Posts: 740
    Posted: Nov. 10, 2010 - 10:28 PM ET #8

    Quote Originally Posted by SportsFan9698:

    If you want a nice hobby for the next few days, you need to read my last sentence again.  Then read it again and again.  Then use that as your starting point, and do all the research you can.

    Then join some of us over on the political forum, and start to read. 

    There will be some day that  you will thank somebody that you steered very clear of stocks, but that is up to you.

    Buffett didn't stay clear of stocks, I think he still owns a few.  Your logic is slightly flawed.  Stay clear of anything you don't know or understand.  Only invest what you can afford to lose (like gambling), and never trust a "tip", most insiders don't even time things right.  As for silver, as long as the dollar declines silver/gold/precious metals will all go forward.  Just make sure to jump off the bandwagon when your doorman/cab driver/waiter tells you silver/gold/precious metals are where you need to put your funds.

    Reply
    Quote Originally Posted by SportsFan9698:

    If you want a nice hobby for the next few days, you need to read my last sentence again.  Then read it again and again.  Then use that as your starting point, and do all the research you can.

    Then join some of us over on the political forum, and start to read. 

    There will be some day that  you will thank somebody that you steered very clear of stocks, but that is up to you.

    Buffett didn't stay clear of stocks, I think he still owns a few.  Your logic is slightly flawed.  Stay clear of anything you don't know or understand.  Only invest what you can afford to lose (like gambling), and never trust a "tip", most insiders don't even time things right.  As for silver, as long as the dollar declines silver/gold/precious metals will all go forward.  Just make sure to jump off the bandwagon when your doorman/cab driver/waiter tells you silver/gold/precious metals are where you need to put your funds.

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