Stocktrading, Few questions about the basic please?

[Adam]

Hi,

I've been looking into trading stocks for a while now, I've done a few simulators and stuff in the past but im wanting to do it for real, so im wondering whats the best way to go about doing it?

I'd prefer an online site that doesn't require a huge bank balance straight away just so i can have a bit of a play around with it first?

If anyone could recommend some and their honest opinions of them I would be great appreciative.

[ocularnervosa]

Most sites require an initial deposit of $500 to start. You can get information on trading and fees from their websites.

[Express]

I have both Etrade and Scottrade, and Scottrade the best so your off at a good start there.

But opening the account is pretty simple you just make the account online and it takes like 5 minutes. And to put money into the account you can either do it by check to a Scottrade building or just transfer the money from a bank account. I personally always just transfer the money from my bank account it takes like 5 seconds and no fees.

You also have a choice to make a cash account or marginal account. Which only difference is you need at least 5k to open a marginal account. Which a marginal account you can take loans and trade without waiting 3 days for funds to settle.

But you will first off need at least $10,000 to make real profits because you still have to pay $7 for each trade. And normally stocks rise 1% so with 10k you at least make $100 compared to $10 with 1k which is actually -4 after $7 buy and another $7 for sell.

Good luck with trading and tip best stock this week is Facebook which should go up to $58 and over after Wedesdays earning report.

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[A Nobody]

All major brokerage firms and mutual fund companies provide their clients with on-line services, including trading platforms, latest market & financial news and research.

Customer need to select the site that is best for them. Traders have requirements in a site, while investors have other requirements.

Although most sites are geared to general securities and commodities, however customers may have special needs for the types of products they trade, and the markets in which they trade. .

It seems that the most popular firms for on-line investing/trading all of which provide excellent platforms and services are; Scottrade; Chas.Schwab; TDAmeritrade; Fidelity; E-Trade, Vanguard, T.Rowe Price and Thinkorswim. In your situation, you may be best served if you select Scottrade or Ameritrade

----Express ---- You have no idea what you’re talking about - By Federal law to open a margin account you need to have and maintain equity of at least $2,000, most firms require $3,500.
Also all trades in the equities markets settle in three business and the transactions are posted to accounts onth settlement day of the trade. ALL trades settle on the settlement day including margin transactions Required margins are calculated on a trade date bases but all trades still settle on the settlement date,
Not every one would agree with you comment that Facebook is the best stock of the week only those with little or no experience would make such a comment in this type of media