Etrade Worth It
Has anyone done a Self-Directed Investing account with Bank of America? / Stock buying question.?
I was thinking about starting an account with them but was wondering if anyone has had any problems. I read that they have online trades from $0 and up, but what I got from the fine print is that that only applys to people who have at least 50k net worth……
What i’m really trying to do it just buy a few shares every now and then…. maybe 10 shares one week then another the next week or something like that but all the big companies (etrade, scotttrade, etc) have all these restrictions like having $1000 minimum and 200 shares a month. And I read that most banks offer that.
Any thoughts?
Banks and insurance companies are the last place to do investments with.
Your “free” trading is very costly. They pay a terrible interest rate on savings…. you could earn 3.70% with some FDIC insured on line banks and pay for trades & have plenty left over.
A newbie should;
Learn investing for a year or two before opening a broker account.
Use a broker that has the level of service that they’ll need. For a new trader…. Schwab & Fidelity are your best bets.
If you’re looking for an inxpensive way to invest;
No Load Mutual Funds or
find some good DRIP programs directly with companies like;
GE, J&J, and a thousand more……….
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