Beginner Investing
Congratulations on learning to invest in the stock market! Investing in the stock market can be very lucrative if you have patience and tolerance. Through our
learning to Invest series we are going to explain the basics of investing and how to get started investing in the stock market.
Finding a Stock Broker
The first thing you need to do to start investing in the stock market is find a broker. This is the only way you will have access to trade stocks. Because you are reading this Blog, we are assuming you are familiar with a computer and the internet. This means you can take advantage of a online discount broker. With an online broker, transaction fees are low and you can access to your account whenever and wherever you have a computer and an internet connection. The two brokers we recommend you look into are:
TD Ameritrade
Etrade
At Market Flavor we use TD Ameritrade and are happy with their service. We don’t want to plug a particular online broker, but these are the two we know best. If you don’t feel comfortable investing online or would like someone to talk to about investing, we suggest using a traditional broker. A traditional broker is a company like Edward Jones or Smith Barney. They can cost more, but you get the advantage of a broker to talk to.
Getting to Know Your Online Broker
Once you pick your broker you will want to get acquainted with how they operate. This means taking some time to look around your online account and get to know the different features your broker has to offer. If a tutorial is offered we strongly recommend using it. Also, if you have any questions about how the site works or where things are, you should contact your broker’s customer service. When investing, it’s very helpful to know and feel comfortable with how your broker operates.
Be sure to check back for other parts of the Learning to Invest in the Stock Market series! Sign up for a free trial and view this topic in more depth, along with other beginner investing topic in the members area. We also offer a well researched stock portfolio to help you successfully invest in the stock market!
Comments (3)
An online broker is the only way to go. I've used been using Scott trade and I've been very happy.
Posted by Jose | August 15, 2007 8:02 PM
cheap discount brokerage is the best one for me.Sogoinvest offers stock trading at $3.
http://www.sogoinvest.com
Posted by stocking | October 4, 2007 3:09 AM
Don't choose TD Ameritrade. It's ok for regular trading, but if you use it for anything else, it can become a nightmare. For example, it has been taking me days and many phone calls to just get some fund wired to a third party (they require signature confirmation, which makes sense, but it takes them days to dig out the record of my signature. Their local branches are useless for this. Even if you sign the wire form in front of a clerk there, they still have to fax it to somewhere and that will require independent signature confirmation). Another nightmare I had with them is trying to transfer the ownership of my account into my living trust, which is impossible through TD Ameritrade. You have to close the old and transfer everything into a new account (you may not want to do that, because they don't have a way to transfer some essential information such as costs basis to the new account). So, stay away from TD Ameritrade.
Posted by TraderJoe | February 22, 2008 5:06 PM