As I have told you, this past year has been the only time I have brought serious thought to investing my money for the long-term future, so all my research has been committed in the very short term. A few months ago, I believe it was July; I began considering trading stocks, so I looked at some of the more popular websites I’ve heard about. At first I thought ETrade, but decided against them, and I looked to TradeKing.
TradeKing is good because they offer a flat rate of $4.95 per trade for the average trader. This may sound like a lot of money, especially if you are like me and only buy one or two shares at a time, but it is on the lower end of fees. Some companies can charge upwards of $10 per trade.
Also, TradeKing has very easy understand tables and processes that can show you gain, loss, dividends, etc. You can get quick quotes, and free learning. They offer hundreds of articles on how to invest and even on specific companies and what they are doing. However, in order to implement DRIP (or dividend reinvesting), you have to specifically ask, though they can do it for specific companies or the account as a whole.
The very best thing about TradeKing accounts for beginners? It is free to open and you do not need to have a minimum deposit. This, with the low trading fee, is fantastic for those just starting out to invest.
What have your experiences with groups like TradeKing been? Who is your favorite to individually invest with?