| What do people on this forum use to buy stocks? |
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newguy84
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| What do people on this forum use to buy stocks? |
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Hello everyone, I just wanted to ask how everyone in here buys stocks. Do they go with a stock broker or do they do it on their own on a website such as e-trade? What is the best website for buying your own stocks and why that site? Thanks for anyones cooperation.
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Fri Apr 27, 2007 9:30 pm |
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Kiaser
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| Re: What do people on this forum use to buy stocks? |
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quote:
Originally posted by newguy84
Hello everyone, I just wanted to ask how everyone in here buys stocks. Do they go with a stock broker or do they do it on their own on a website such as e-trade? What is the best website for buying your own stocks and why that site? Thanks for anyones cooperation.
I use Vanguard, but there are lots of good investment companies. Fidelity, Scottstrade come to mind.
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Fri Apr 27, 2007 11:44 pm |
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efflandt
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Location: Elgin, IL USA
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Unless the company you want to buy stock in has a stock agent that you can buy from directly, you usually need to buy it through a broker. But that does not necessarily mean face to face. The example you gave of buying on your own online, ETrade IS a broker. If you make your own decisions and buy online, that is typically with a discount broker, as opposed to a full service broker.
I happen to use Fidelity, but have enough IRA assets there to qualify for a lower $10.95 trade fee. For the limited amount of trading I do, their decent interest rate on idle cash more than makes up for lower trade fees elsewhere. Their $19.95 trade fee for someone starting out might look kind of high (but lower than Vanguard).
Many beginners use Scottrade, which only requires $500 to open an account and has $7 trade fees. But they may not pay much interest on idle cash that is not invested.
Direct purchase from a company's stock agent may be cheapest if you intended to accumulate a particular stock over time. One stock I bought was $15 for initial purchase and then $2 per purchase after that. You have to make arrangements for a buy or sell days in advance of the one day a week they trade, so it is not for something you might want to bail out of quickly. And I don't think they do IRA's.
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Sun Apr 29, 2007 3:40 pm |
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