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Do you do it? What service do you use?
Online investing
- Thread starter cubsneedmiracle
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I just get my money from PL. But I don't invest.
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be more specific.
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like e trade.. whatever type of investing that you would do online.. or recommend online..
Im looking at doing some pretty soon..
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I use Fidelity..they dont have the cheapest options..but my dad has basically all of his money in fidelity and I'm part of the linked accounts on there with him so as a family we get a discount on commission.
Atleast this is the way it use to be, I actually havent looked until what they charge at all lately. I just know they charge a $7.95 commission to me every time I buy or sell something.
Atleast this is the way it use to be, I actually havent looked until what they charge at all lately. I just know they charge a $7.95 commission to me every time I buy or sell something.
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Well yes..all charge commission, I know there are cheaper options than Fidelity though.
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Well if they offer a good service.. A few extra kicked in isnt a big deal.
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Well I've never had any complaints with them, but I cant compare to any others cause this is the only one I've ever been with. I even have my checking account with them as well (Fidelity calls it a SmartCash Account). So I think they're a good company.
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Anyone else have experiences??
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I have used etrade, ameritrade, scottstrade, sharebuilder, fidelity, and actual agent trading at some point.
The difference between most sites, is very small. The difference in commission prices are small. In the end, you just have to decipher what type of investor you will be.
If you're going to make trades 2-3 times a day, you'll find yourself hunting for the lower commission, but you also want the trade queues to be timely. Ameritrade is good for someone who really doesn't know what they want to invest in. Fidelity is good for someone who wants to juggle funds. etrade is good for someone who doesn't want to play options, but wants to have them. Sharebuilder is great for someone with a small amount of money trying to work their way into a lot of pricey stocks. Scotts is the best of all worlds, but they are heavy on terminology with their interface, making it hard for n00bs, but you'll also see bb market trades delayed a LOT.
All of them require you to handle your earning and losses reports on your own, so you can report this activity back to Uncle Sam.
The difference between most sites, is very small. The difference in commission prices are small. In the end, you just have to decipher what type of investor you will be.
If you're going to make trades 2-3 times a day, you'll find yourself hunting for the lower commission, but you also want the trade queues to be timely. Ameritrade is good for someone who really doesn't know what they want to invest in. Fidelity is good for someone who wants to juggle funds. etrade is good for someone who doesn't want to play options, but wants to have them. Sharebuilder is great for someone with a small amount of money trying to work their way into a lot of pricey stocks. Scotts is the best of all worlds, but they are heavy on terminology with their interface, making it hard for n00bs, but you'll also see bb market trades delayed a LOT.
All of them require you to handle your earning and losses reports on your own, so you can report this activity back to Uncle Sam.
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ahh that was going to be my next question...
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They do try to make it easier for you to report everything, and should send you a copy of the 1099 form in the mail or by email. And without the experience in trading on your own, it's hard to explain how to manage your records. You could just use quicken-type apps, or toss it all into a spreadsheet. But how, is up to you and your needs. Good luck.
Rustysurf83
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If you're looking for mutual funds, Vanguard has low expense ratios. I don't have the time to pay attention to individual stocks prudently, so that's who I use.
thedude33
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I use ING Sharebuilder.