I kinda wanna try online brokers but at the same time idk if I trust myself. Do a google search for local stock broker firms in your area. Also, some firms have a limit. I went to a local firm the other day and their limit is $250,000 !! So I strolled out.... hahaha. The nice thing about meeting in person with a broker is you have someone helping you (if they are a full service broker). They can call you and give you updates and you can call them with questions etc.
Depending on which country you live in, your bank is very likely to offer these services for you. It might be a good starting point since you obviously already trust the bank with your money, you probably already have access to internet banking etc. Though be careful as most banks have higher fees than companies specializing just in broker services.
Yeah I just checked, and like crimsonghost747 said, my bank lets me do it online. I still have to pay a fee though (I guess to the "broker"/bank). It's lower than what it would be with an "offline broker", so I'm not complaining. They have a portal where I can buy stocks and invest in funds as well! It's very easy and convenient.
Question, is this site open to international members?... i tried dabbling in stocks awhile back in a local stockbroker company with a minimum amount since i was a newbie and i was just testing the waters, but i got sidelined because well...ahem...the minimum amount...was embarrassing and they were shooting eagles off the sky not dealing with chicken if you know what i mean, so took my money and up to now, am yet to trade in the stock market, would love to know if its open to international members, then i can forget about going local
This makes the best sense. Usually, the primary reason that many investors fail is because they choose the wrong broker that charges too much in fees which eats into your returns. The trick is to find the right broker that doesn't charge any more than around 1% just as crimsonghost says. One piece of advice I can lend is to stay away from the stockbrokers that advertise heavily on the largest media platforms. Remember that those advertising costs are very expensive for them. Where do you think they would need to get the money to cover those charges? You guessed it, from overcharging fees to investors.
People who fail at investing usually do so because they have unrealistic expectations, think too short term, trade too frequently, are too concentrated, listen to bad advice, try to get too clever, and let their emotions get the best of them. They either screw themselves because of these factors, or some of these factors lead them to giving their money to a scammer who steals their money.
Yeah.. really people should do a little reseach before giving advice. You pay a set fee when you buy, and again when you sell. It is not a percentage, you play a flat fee, for online brokers it is usually just a few dollars, maybe $5-$10 depending on which broker you use. Because it is a set fee, this is one of the reasons you shouldn´t invest a small amount. If you invest $100, and you pay $6 for the trade, you stock now has to go up 12% before you even break even. But if you invest $1000, you still pay the same $6, which means your stock only needs to go up 1% before you break even.
You should by stock from a trusted local stockbroker for a good stockbroker you should consult your friends and colleagues who are already investing in Stock market. According to my advice buy stock directly either from the company website or from a reputed or listed stock broker.
I do not like places like etrade because they do charge too much commission. All the places the people have mentioned above are great, but just know what you are getting in to! Know how much you are paying the people for using them. Good luck!
Go research which banks allow trading accounts. I know HSBC has in most countries, the advantage of this is you can buy and sell your stocks online and you will not have to pay for an actual broker. The problem is brokers often look after thier interests as opposed to your interests. For smaller exchanges it will be more difficult to do online trading, but it is possible. Usually smaller banks have setup trading sites with these banks. Research to find out what the cost of trading per share is. And then look for the bank that suits your needs.
