How to start investing now!
Today's Financial News - Posted June 5, 2009
Should you start investing now that the markets have gone to hell in a handbasket? We think there’s no time like the present! Here’s a quick list of contacts for you to set up your trading accounts!
by J. Christoph Amberger
“I have not played the stock market in years and would like to know how to get restarted without having to open an account with a specified sum of money. I just want to be able to buy and sell stocks at random with whatever I have available to invest at the time. Can you assist me in getting started or direct me to a broker to suit my needs?
“Thank you, sincerely,
“TFN eNews reader Vicky F.”
TFN I think you have chosen a great time to get back into the markets. Most people are still bellyaching about what kind of hit their 401(k)’s and mutual fund holdings have taken. Meanwhile nimble, motivated investors are using the incredible volatility in the markets to make considerable gains in almost all sectors… penny stocks and (blue chips), commodities, even index funds!
Any of the popular online brokers can provide you with a basic set-up. Most, like ShareBuilder, will have you link your trading account to a bank account that allows you to transfer funds rather quickly when the need arises. (The disadvantage of ShareBuilder, however, is that it’s slow as molasses and only allows you to trade certain stocks. A lot of lower-priced shares can simply not be traded.)
But most discount brokers should be giving you the opportunity to trade all kinds of stocks quickly and cheaply. Here’s a couple of brokers that we’ve made good experiences with in the past. (And no, we don’t get paid for recommending them!)
Charles Schwab and Company: https://www.schwab.com/public/schwab/home/welcomep.html 1-866-855-9102
E-Trade: https://us.etrade.com/e/t/home 1-800-387-2331
Euro Pacific Capital: http://www.europac.net/stocks-buy-foreign.asp 1-800-727-7922
EverTrade Direct Brokerage: http://www.everbank.com/001Brokerage.aspx 1-888-882-3837
Shop around based on transaction fees and their capabilities to trade the greatest variety of stocks! You want the cheapest service for the biggest array of options.
And if you need ideas on what stocks to buy, I can recommend a great resource… TFN’s premium service Hot Stock Confidential!
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