How to trade stocks – Part 3 – Choose an online brokerage account – 7 basic questions

Whether you start investing with cheap stocks or expensive stocks such as Google, or a variety of stocks between them Need a brokerage account. Online account provides the cheapest way to trade. This is a plus sign. However, if you want your hand, this may not be your route. Online securities trading accounts are cheap because they offer limited service

No matter how much investment you make in a transaction, brokerage firms always need to help you complete these transactions. As a result, you have always been buying and selling surcharges for your transactions. Online companies offer minimal service to their customers with low fees. Full service brokerage firm – like Schwab charge more. They also offer a higher level of customer service, such as having their own brokers talk, rather than reaching the call center, and getting the next available customer service representative

There are a lot of online brokers Difference, do your homework. A common factor if you are online trading is that you have a minimum service offer

Michael Cohen from Doubling Stocks suggest Zecco.com I look at their website, as Michael said, their "freedom Trade "allows small investors to get greater profit margins. I like the idea of ​​"free trade" with Zecco, especially for newcomers. Zecco requires a minimum setting of $ 2500 to meet the free trade terms. You can use any amount (which is good) to open an account, but does not meet the free transaction of less than $ 2,500 at the beginning of the balance. Be sure to check out the details of all mandatory fees as we know that there is no such thing as free lunch. Zecco also needs to make money

Be sure to check the details of your specific needs with your broker before you open an account. You can change the broker at any time (I changed 4 times!) But, however, approaching the correct can simplify the overall pressure

I trade with thinkorswim, they have very cheap deals. If you register with people you know, Think or Swim offers a $ 50 rebate for "family and friends". If this sounds very appealing, please open your account with friends, or let us know that we can set up referrals together. ThinkorSwim however, does not allow many pence stocks to trade on their platform. Not all the brokers have done everything. Do you know this?

Not all brokers trade all the stuff! Talk and ask about the specific trade style you are looking for and see what the salespeople tell you. In addition, different brokers need different minimum deposits to open an account.

  • What is the minimum amount required to open an account?
  • How many hours do you call a customer service?

  • What is the minimum cost of buying or selling a stock?
  • Your cost is based on 100 shares or a certain range of stocks?
  • Does the account require a monthly maintenance fee or minimum transaction amount?
  • Will i get real (or delayed) information?
  • If I move my account to another company what is the cost?
  • I have had personal experience with the following online brokerage firms – interactive brokers, OptionsXpress and Think or swim. I just try Zecco and will keep you posted. They have advantages and disadvantages. Be sure to ask questions, but do not be afraid to try. You can easily replace the broker, usually without the cost