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December 04, 2021, 08:32:54 pm
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December 04, 2021, 08:32:54 pm
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Author Topic: Online Stock Brokerage accounts  (Read 3235 times)

Offline LakesideEstimating

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Online Stock Brokerage accounts
« on: November 21, 2008, 05:42:28 am »
I think that I will take the plunge and start buying some of these stocks you guys are talking about. My question is, have you guys heard of Zecco Trading? It is an online brokerage where you get 10 free trades per month.  I had an Etrade account 5 or 6 years ago and was NOT impressed! Can you give me some advice? I am a small-time investor and I do want to get into options (after more study)

Thanks
Leonard

Offline rookieNYC

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Re: Online Stock Brokerage accounts
« Reply #1 on: November 21, 2008, 06:54:05 am »
Leonard,
  My first piece of advice is DONT DO IT...Please do not start to trade,especially in this market..More than likely you will LOSE money and not make any..Do not believe the dream trades you read on this forum..Don't be fooled into thinking there is easy money waiting for you..There isn't..the only thing waiting for you is a swift kick in the a$$ from the market..Sorry to be so blunt...

Now after my warning has been read..I assume this is risk capital,meaning if you lose it ALL it won't affect how you run your day to day operations and pay bills?..Correct?...Ok good..Then I think you should look for a brokerage like Fidelity..Zecco trading,never heard of them..If you are seriously looking to do all areas of trading,tick trading,day trading,options trading I would also look into Interactive Brokers,TerraNova trading using Realtick software..If you are just looking to position trade stock and options Fidelity will be fine for you..If you have a high net worth  in the account they will give $8 trades on UNLIMITED shares...Otherwise I think their commission scale is competitive..

If you really want the *best* day trading software there is on the market hands down go to Realtick.com and see what brokers supply the software but be warned using this kind of software won't give $8 commissions..This is highly effective software and most professionals forgo low commissions for great executions and longer market trading hours...If I can answer any other questions I would be happy to..Also if you plan to use margin and or trade options you will have to make sure you fill out all these agreements when you open up the account..Otherwise the brokerage will not allow it..Keep in mind the risk involved with using margin and trading options..With options your loss can be %100+ sometimes...Dont say I didnt warn you...
« Last Edit: November 21, 2008, 07:15:39 am by rookieNYC »

Offline LakesideEstimating

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Re: Online Stock Brokerage accounts
« Reply #2 on: November 21, 2008, 08:33:50 am »
Haha, Thanks for the advice, Rookie! I know this is a volatile time in the market and when I say I'm ready to jump in, it is "small potatoes". What I want to do is get some shares of Ford (yes I know they could go BK) and a couple of bluechips that have been hammered.

I am taking a long-term approach here, ie no day trading for me! Are you saying it would be much better to wait for Dow 4000?

btw thanks for the Fidelity advice. I will check them out.

 




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