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10-14-2008, 09:58 AM
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Location: NJ
854 posts, read 2,617,501 times
Reputation: 500
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Hi all 
So for the last two weeks or so I've read a ton of articles about investing on fools.com etc, checked out several discussion forums, followed the markets on google-finance, cnn money etc and I think I'm ready to give it a try. I'm willing to put ~$500 up for it.
I've read a lot of stuff about all those brokers, but I can't really decide. Sharebuilder sounds like a great choice for beginners if you're looking to invest in the long run (5-10 years). Since I'm only starting, for now I'm really just looking to invest for maybe six months or so.
Scottrade has a minimum of $500 and buy/sell is $7 each, doesn't seem too bad!
What about the others? Opinions are appreciated. Thank you! |
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10-14-2008, 10:14 AM
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Location: Aloverton
6,564 posts, read 13,039,041 times
Reputation: 10088
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$500 isn't enough. Keep saving until you have $5000, so that you have some chance to diversify. At $500 you will take a hosing on commissions, or otherwise face some compromises that will make you regret it.
When you do have your $5K, Scott's a good choice.
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10-14-2008, 10:15 AM
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Location: West, Southwest, East & Northeast
3,446 posts, read 6,815,465 times
Reputation: 868
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I've used Scottrade for many years and am very pleased.
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10-14-2008, 10:31 AM
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Location: Oak Point, TX
7,604 posts, read 12,526,650 times
Reputation: 4586
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Quote:
Originally Posted by kooter
i've used scottrade for many years and am very pleased.
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+1 |
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10-14-2008, 03:57 PM
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Location: We_tside PNW (Columbia Gorge) / CO / SA TX / Thailand
27,110 posts, read 45,190,977 times
Reputation: 31316
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Quote:
Originally Posted by Kooter
I've used Scottrade for many years and am very pleased.
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me too 
I use ThinkorSwim as well (they have pretty fun (free) classes  )
$500 won't get you in the door tho. I would save a bit more, as $500 is probably not worth the trouble for accounting at this point, and you may quickly fall below minimum level in the current market. I would save till I could fund a ROTH and use that for learning. It saves a lot of tax and tracking paper work. |
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10-14-2008, 04:00 PM
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44 posts, read 249,508 times
Reputation: 32
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I like scottrade too. I only started with a few hundred and now have a few thousand in. The $7 commission isnt bad unless you are gonna buy and sell stocks a lot. I am just buying to hold onto stocks for the long term.
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10-14-2008, 04:01 PM
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Location: Where the sun likes to shine!!
20,545 posts, read 27,738,704 times
Reputation: 88786
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Thanks for the info. I use Fidelity but that's only because I won a contest years ago. I get free trades for life.
My husband uses Ameritrade but the comissions are higher than Scottrade. I'll tell him about it.
Lisa
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10-14-2008, 10:56 PM
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Location: Prescott AZ
6,626 posts, read 10,176,069 times
Reputation: 13058
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I use Scott trade and its been fine.
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10-15-2008, 02:58 AM
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Location: Memphis, TN
185 posts, read 914,447 times
Reputation: 110
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I use Ameritrade and works fine for me. Haven't used any of the others. It was original Datek back in the 90's and changed to Ameritrade some years back.
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10-15-2008, 07:12 AM
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1,831 posts, read 4,940,197 times
Reputation: 671
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I'm another Scottrade fan.
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