There is only one online broker for beginners and/or poor college kids and that online broker is Scottrade! At Scottrade, it’s only $7 a trade, they have 306 local branches, and is only $500 to open an account. At an online broker like TD Ameritrade, it'll cost you about $10 a trade, and you must put in a $2000 minimum to open an account! I don't know about you, but Im a poor college student (I CANNOT AFFORD THAT). TD Ameritrade also has hidden fees that'll bite you right on your keester!
Here's how you open an account:
1. Have a checking account handy (cannot pay cash, check ONLY)
2. Have $500 in your checking account or more depending on your fiscal situation. (Remember, $500 is only the minimum)
3. Find your local Scottrade office (no, you cannot sign up online, but this is your future we're talking about, get off your lazy ass and do it!)
4. Wait a day for your funds to get into your account
5. Start investing!.. Wisely of course.
Final Thought: I am dubbing Scottrade the official online broker of the beginner and/ or poor college student! At only $7 a trade and $500 min. startup, you cannot go wrong.
http://www.scottrade.com
Check back tomorrow! Before I continue with the rest of my 'Education' segment, I will be addressing the 'Absolute Beginners' and hopefully catch them up.
1 comment:
Hey what are your thoughts about sharebuilder? Supposedly they have trades for $4. I'm new and just trying to figure out the best strategy to invest without loosing my money. You're title says it all. I'm a beginner and a poor college student.
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