U.S. CitiesCity-Data Forum Index
Covid-19 Information Page
Go Back   City-Data Forum > General Forums > Economics > Investing
 [Register]
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
View detailed profile (Advanced) or search
site with Google Custom Search

Search Forums  (Advanced)
Reply Start New Thread
 
Old 10-14-2008, 09:58 AM
 
Location: NJ
854 posts, read 2,617,501 times
Reputation: 500

Advertisements

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!
Rate this post positively Reply With Quote Quick reply to this message

 
Old 10-14-2008, 10:14 AM
 
Location: Aloverton
6,564 posts, read 13,039,041 times
Reputation: 10088
$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.
Rate this post positively Reply With Quote Quick reply to this message
 
Old 10-14-2008, 10:15 AM
 
Location: West, Southwest, East & Northeast
3,446 posts, read 6,815,465 times
Reputation: 868
I've used Scottrade for many years and am very pleased.
Rate this post positively Reply With Quote Quick reply to this message
 
Old 10-14-2008, 10:31 AM
 
Location: Oak Point, TX
7,604 posts, read 12,526,650 times
Reputation: 4586
Quote:
Originally Posted by kooter View Post
i've used scottrade for many years and am very pleased.
+1
Rate this post positively Reply With Quote Quick reply to this message
 
Old 10-14-2008, 03:57 PM
 
Location: We_tside PNW (Columbia Gorge) / CO / SA TX / Thailand
27,110 posts, read 45,190,977 times
Reputation: 31316
Quote:
Originally Posted by Kooter View Post
I've used Scottrade for many years and am very pleased.
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.
Rate this post positively Reply With Quote Quick reply to this message
 
Old 10-14-2008, 04:00 PM
 
44 posts, read 249,508 times
Reputation: 32
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.
Rate this post positively Reply With Quote Quick reply to this message
 
Old 10-14-2008, 04:01 PM
 
Location: Where the sun likes to shine!!
20,545 posts, read 27,738,704 times
Reputation: 88786
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
Rate this post positively Reply With Quote Quick reply to this message
 
Old 10-14-2008, 10:56 PM
 
Location: Prescott AZ
6,626 posts, read 10,176,069 times
Reputation: 13058
I use Scott trade and its been fine.
Rate this post positively Reply With Quote Quick reply to this message
 
Old 10-15-2008, 02:58 AM
 
Location: Memphis, TN
185 posts, read 914,447 times
Reputation: 110
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.
Rate this post positively Reply With Quote Quick reply to this message
 
Old 10-15-2008, 07:12 AM
 
1,831 posts, read 4,940,197 times
Reputation: 671
I'm another Scottrade fan.

Rate this post positively Reply With Quote Quick reply to this message
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.

Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.


Reply
Please update this thread with any new information or opinions. This open thread is still read by thousands of people, so we encourage all additional points of view.

Quick Reply
Message:

Over $104,000 in prizes was already given out to active posters on our forum and additional giveaways are planned!

Go Back   City-Data Forum > General Forums > Economics > Investing

All times are GMT -6.

© 2005-2021, Advameg, Inc. · Please obey Forum Rules · Terms of Use and Privacy Policy · Bug Bounty

City-Data.com - Contact Us - Archive 1, 2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 14, 15, 16, 17, 18, 19, 20, 21, 22, 23, 24, 25, 26, 27, 28, 29, 30, 31, 32, 33, 34, 35, 36, 37 - Top