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Is there a way to get around that, perhaps by saving up more at a time before investing or using a specific broker? Any ideas and suggestions would be nice. I want to maximize my input, minimize my fees and get some suggestions on good online brokers…what do you think Sharebuilder or eTrade??
I am investing in stocks.
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April 21st, 2010 at 5:04 pm
Without having more information about your personal information, such as age, current income and other data such as risk tolerance, martial status, and demographics it would be very inappropriate for me or any other responsible person to provide specific investment information in this type of media. And it would not be prudent for you to accept any investment advice from unknown individuals here at YA or a similar media.
There are many people just like you that are, or were looking to invest and those that did bought Mutual Funds and/or Exchange Traded Funds (ETFs). One purpose of mutual funds is to help investors like you, who are either just entering the investment world or who have no investing experience. Once you feel you at least have an understanding of investments you should look into ETFs which are similar to mutual funds but are traded on the exchanges.
Mutual Fund companies as well as ETFs have an entire array of products many will fit your needs. You can go to the MSN.Money website
http://moneycentral.msn.com/home.asp it has an entire section on mutual funds and Exchange Traded Funds. Read about the various products and in doing so you will be getting investment ideas and at the same time educating yourself about investing.
You could also contact the funds companies for more information. I have found that Vanguard & Fidelity can meet your needs for mutual funds. The service and information they provide is all free and you will find it helpful.
Regardless of what you decide, do not ever let anyone tell you not to invest, especially those that do not invest themselves.
April 21st, 2010 at 5:04 pm
You don’t say exactly WHAT you are investing in. If you’re buying securities through a brokerage in small quantities, of course you are going to pay fees. Look at some good no-load mutual funds bought direct from the fund company (Vanguard, etc.). No fees there.
April 21st, 2010 at 5:04 pm
If you want to get more bang for your buck you should think about investing in options. Not as much capital required to invest as stock with the same overall result. You really can’t get around fees though. The lowest cost brokers I know of are Zecco and Sogo Trade (with sogo being the lowest cost). $3 per trade each way on stocks and very low cost options with Zecco.
April 21st, 2010 at 5:04 pm
Although not easy to comprehnd your question. but what i Understand is you are paying more brokerage and commission. But Invest in Equity in good fundamentally Stocks Either Via Mutual Funds or Direct. Equity Gives Good return in Long Term. Happy Investing
April 21st, 2010 at 5:04 pm
OptionsHouse charges $2.95 per live trade, that’s about as cheap as it gets. I use Sharebuilders also, they do low cost trades on Tuesday only. I pay $20 a month and get 20(tuesday) trades with that, that’s only a buck a trade. They have other plans too, so I would recommend checking them out.
April 21st, 2010 at 5:04 pm
http://www.sharebuilder.com/
Been with them for about 10 year, Im really happy with this online broker. Great start for beginners,
sharebuilder has different plans to choose from. Market orders and limit orders are around 9 bucks.
April 21st, 2010 at 5:04 pm
If you are investing in stocks it means every time you are trading a stock you are paying brokerage and other charges. This is inevitable. Ideally it is better to to invest big amounts at a time. Small investments will prove costly because brokerage are charged on percentages but they also have a minimum paying amount.
April 21st, 2010 at 5:04 pm
I happen to like Etrade myself. Not only as a company to do the investing with, but also as a company to invest IN. The stock is trading low, but was at $25 just a couple of years go. The actual site is easy to use and very user friendly.
April 21st, 2010 at 5:04 pm
Likely you should save up more money at a time. Generally you will pay additional fees for breaking up a share lot, that is when you buy odd numbers of shares (less than a lot of 100) you are charged an additional fee because odd lots are less marketable. This may be a large portion of the fees that you are paying.
If you buy lots (as in lots of 100), you can likely avoid this additional fee. However, that means saving up enough to buy a single lot of shares at a time, instead of buying a few left and right.
I think that the breaking up of share lots is the source of these excess fees that you are experiancing here.