Money Forum World

Noel · Joined: 08 Nov 2007 Posts: 2117

Ive never bought stocks before. What is the best and simplest way? Scott trade? Are they the cheapest? How does it work? I'd like to purchase stocks online. Tell me what is the procedure. What are the steps?

Thank You.

Sherri Schultz · Joined: 08 Nov 2007 Posts: 2153

Well for starters you need a broker. I have Sharebuilders. I use them because there's no min for how much you have to keep in your account like the other brokers sites like scott trade. It depends on how much you have and how much you want to give to the broker. Ameritrade,scottrade, and the others have cheap comissions but the reqiure a nice $1,000+ account min. I can go on and on but ill let someone else tell you more. Email me if your not happy with the other answers and Ill tell you in full detail. Also go to investopedia.com. they have articles and tutorials about stocks and how to purchase and stuff. They have a stock simulator which you may be able to purchase stocks free of charge. This is a site that will teach you the basics of the Stock market, bonds, and mutual money. It has articles and tutorials about it all. there's also a stock simulator that you may register for. it's free. There you may be able to really purchase and sell stocks as if it were real. Im doing that with my real stocks. They aren't a real broker. it's just a stock simulator. it's a good way to really see how to do it. They start you off with some amount of money depending what game you start in typically in the $100,000+ range and you just purchase what ever you want. make sure to read the tutorials so you know what to expect. The game isnt really a game but a group of people you join. If anything you compete with others to see how much you all are making but I typically dont follow what others are doing.

Fredric Richards · Joined: 08 Nov 2007 Posts: 2112

see a stockbroker.

Ty Daniels · Joined: 08 Nov 2007 Posts: 2139

I could recommend Scottrade, their web established interface is pretty easy to understand and the commission on trades, for most stocks, is $7.00. 1st you fill out the account register with scottrade, I believe you may be able to do that online. Then you have to either bring a check to a Scottrade office or wire money into the account. Then login to their web site. Happy Trading.