Something that seems to hinder new investors is the myth of how much money it takes to start investing. Beginner investors have this idea that the money they have saved isn’t enough to start buying stocks. With the birth of online brokers, investing has become more affordable and much more convenient. The minimum amount required to open an online brokerage account is now almost non-existent! Many of the online brokers now don’t even require a minimum to open an account. This makes it accessible and almost a necessity to open a brokerage account.
Here is a quick list
TD Ameritrade – No Minimum (we use)
E*Trade - $100 (heard good things)
Share Builder – No Minimum (don’t know much about)
It’s also important to consider the level of service that comes with each broker. Just because the minimum is less then other doesn’t mean that the level of service is that great. Make sure to look at some reviews before you sign up!
Tags:
Buying Stock
Learn to Invest
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Comments (1)
That's good to know, I've been investing for a while and didn't know that some brokers had dropped their minimum to nothing!
Posted by Allan | July 20, 2007 10:20 AM