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View Full Version : Broker for a newbie?

Nick6
07-14-2004, 08:13 PM
I am looking into investing around $200 in stocks, which broker would be the best for starting up? And is it posible to bye pass a broker company?
bhplv1
07-14-2004, 09:04 PM
I currently use Ameritrade and I like them but they have a $1000 minumum balance requirement. If you can scronge up a few hundred more you can open a Scottrade account with $500. Scottrade was ranked highest in investor satisfaction 4 years in a row so they are a good choice also.

http://scottrade.com/
dkm
08-11-2004, 12:57 AM
Try Quick and Reilly or E*Trade.

Are you looking at penny stocks? Make sure you read your trading agreement up front.
da_jew
08-19-2004, 12:11 PM
Fidelity is also something to consider
bhplv1
08-21-2004, 11:05 AM
Fidelity is also something to consider

Not with $200. I think you need at least $2000 for Fidelity. It might even be $5000.
mw5
12-29-2004, 05:16 PM
with that amount of cash, you'd be better off going with a low minimum mutual fund. You're not going to get trades much cheaper than $10 per trade so you'd need a 10 percent return just to break even on the buy and sell
waltermondale
02-22-2005, 06:08 AM
$200 ?!?!?!?! considering that commission would be at around 10 dollars that would be 5% of your porfolio lost.... (people generally consider 5-8% annual return "good") unless if you got some inside info on some pink sheet or Bulletin board stocks... i recommend you save up at least 3k (7k preferred), to start. $200 dollars is much more of a head ache than its worth.

highly recommend opening up roth IRA (assuming you make less than 100k) with ameritrade or another broker (i use ameritrade, and am happy with them), youll thank me when your 65 and got a few milllion... buying and sitting on some index funds QQQQ and SPY are a good start
dewoln
04-10-2005, 10:17 AM
With so little money, you'd really be better off investing in a mutual fund of some sort. That way you can get diversification that you could never get just buying a couple shares with $200. As far as the broker thing goes, you might try sharebuilders.com. You could by some exchange traded mutual fund through them, or if you really want some individual stocks.