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LKidKyle1985's avatar

Whats the best website to use for trading stocks and why?

Asked by LKidKyle1985 (6589points) April 13th, 2010

Just want to know what the best options are as far as online trading go. I am pretty new to trading stocks and I don’t plan to do it often just want to buy a couple long term investments. Might do more trading later on when I have more money. What does everyone recommend?

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8 Answers

thriftymaid's avatar You must buy or sell at least one stock every six months or there is an inactivity fee. But trades are only $5 with no minimums.

If you just want to buy a couple of stocks to keep for a long time, I would use Sharebuilder.

Kraigmo's avatar is the best for newcomers, or low-income people. I use it.

Sueanne_Tremendous's avatar

Try for DRIPS which I dig. Little out every now and again on your schedule. Flexible.

njnyjobs's avatar

I like TD Ameritrade over sharebuilder as they have a no nonsense trading fees, unlike Sharebuilder that charges you more on a graduated basis in relation to the number of shares trade and not necessarily the value of the trades.

anartist's avatar

Fidelity? Although your minimum buy has to be 100 shares so that limits small investors to bargain stocks —fund investments not such a problem—and IRA investments min $250.

CyanoticWasp's avatar

Um… the answer to that would be “the website of the place where you have your account.”

Do you have a trading account yet? I’ve been using Schwab for years (and years and years) and I’ve always been satisfied with them. There may be (somewhat) cheaper commissions, but I’ve always gotten the best value from them—and I have tried a few others from time to time.

njnyjobs's avatar

If you plan to actively trade online, I would suggest considering an online broker that will provide electronic transfer of your financial data to your accountant or direct download to your Quicken or QuickBooks or similar accounting software and/or Tax Preparation software (i.e. TurboTax, TaxCut, etc.) . . . that feature alone will save you a lot of time figuring out your tax liabilities resulting from this activity.

anartist's avatar

Related but not actual trading . . . does anyone use Mint?

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