I’m 19 years old and is interested in investing in the . Ive heard of zecco and etrade but which would be best for a beginner? and what else would i need to know.

 

  • Al in NC 3:00 pm on August 31, 2010

    First you need to gain some basic stock market and trading knowledge. Some good websites are:
    http://www.investopedia.com
    http://www.investors.com
    http://www.etfguide.com
    http://www.optiontradingpedia.com

    As far as brokerage firms I prefer Scottrade.
    NO account maintenance, service, or inactivity fees.
    Free real-time stock quotes and charts.
    Free real-time Dow Jones news.
    Free "GainsKeeper" for cost basis accounting.
    Excellent research sources.
    Excellent trading platforms (very user friendly).
    Excellent customer service (388 Branch offices nationwide).
    Tutorial and webcast available for customers.
    Member of SIPC (Securities Investor Protection Corporation).
    $500.00 minimum to open an account.
    $7.00 online trading commission for stock over $1.00 a share.

    For comparison purposes:

    Sharebuilder’s real-time online trading commission is $9.95.
    T.D. Ameritrade"s online trading commission is $9.99.
    Schwab’s standard online trading commission is $12.95.
    E-Trade’s standard online trading commission is $12.99.

  • Bob D 3:00 pm on August 31, 2010

    neither.uh,we are in a rescission.haven’t you been reading the newspaper? you will be throwing away your money.. put in a cd,at least that’s a sure thing.

  • AB 3:00 pm on August 31, 2010

    I wouldn’t use zecco. I’m an intermediate investor and their site was so hard to navigate. I would use etrade or firstrade. Make sure that the money you put in isn’t needed for any expenses within the next 5 years or so.

  • solana702 3:00 pm on August 31, 2010

    I like TDAMERITRADE. I’ve used it for years. They have great customer service & are easy to contact. I had Etrade & closed it recently do to their lack of professionalism. If you open a Margin Account with Ameritrade, you will get the real time streamer for free. It’s very easy to set up.

    Good luck & trade safely. Always take profits & don’t fall in love with a stock.

  • Marvin the Martian 3:00 pm on August 31, 2010

    You’re much better off simply reading about the world of Finance, Investing and Personal Finance, before indulging in such means of investment. By placing your money into an investment you know nothing about, that isn’t "investing"; it’s gambling.

    I’d recommend two books Stock Investing for Dummies and Rich Dad Poor Dad for beginners. There are several other recommendations, such as a basic knowledge of accounting and economics. From then on, you can also practice on Investopedia’s Stock Market Simulator: http://community.investopedia.com/

  • Barry_31 3:00 pm on August 31, 2010

    You’ve got three great answers already from Solana, Marvin, and Al. I would also stress that it’s important to learn as much as possible before diving in.

  • James H 3:00 pm on August 31, 2010

    Best to start at is Scottrade. Start with a small amount of money and invest in solid companies until you know what you are doing. For advice check out this website which offers great tips.

    http://www.stocksonwallstreet.blogspot.com/

    Good Luck!!!

  • Serious M 3:00 pm on August 31, 2010

    If you are serious to invest, you can search HSFX Asset Management at searching engine and start making money!

  • Friendly Michael 3:00 pm on August 31, 2010

    Hello, my friend. Firstable I don’t want to confuse you and don’t let anybody confuse you either. Look buddy! You have the best advantage right now on your side which is “age”. You are amazingly young to get the advantages of investing in the stock market because you have the time to ride the ups and downs of the stock market, unlike people that are on their late 30s, 40s and 50s; they don’t have that luxury you have which I repeat once again, being “young”.

    If you are going to start investing, you don’t start by choosing the broker or brokerage house. That is the last thing you do when you are ready to jump into the market. What I mean by this is, you have to research, read, practice and get a great deal of information about the stock market, companies and their management, etc. There are a few good books that I can recommend you to read and they are easy to understand for beginners and they show you step by step how to invest and in which companies to invest and which to avoid. Also there are different websites in which you can open an account where you can practice with paper money, meaning you won’t be using real money, it is just an account with fake money. You can do that for a year or so, that way you will feel ready with information and a positive attitude about investing in the stock market.

    Try to follow and read books about “Warren Buffet”, if you haven’t heard about him; he is the richest man in the world; he passed Bill gates who was number one for 13 years. Warren Buffet is an investor, he is not a trader, traders lose money because they are gambling with the stock market fluctuations. He invest long term. You can learn a lot from him. Another thing, I read that somebody answered your question by talking about “margin account”; man never use that because you are borrowing money from the broker and if the price of your stock goes down, it can wipe out your account to zero.

    And about the broker, one of the cheapest ones and with good customer service is “Scottrade”. It is $7 per transaction.

    Buddy, Just don’t let anybody to give you tips to invest in companies, you do your own research or the companies you want to invest. Look for companies with the great balance sheet, great management, with no or not too much debt, a lot of free cash flow, destroying all competition like Warren Buffet says and you’ll be alright. Ah! He also says to invest in business that you understand and are familiar with. Remember my friend, you are amazingly young.
    Good luck

    Michael