Do i have to use scottrade, etrade, etc to trade and sell stocks without a broker?
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question says it all. i only have a starting money of about $1,500 that i can put in to investing with shares/stocks. i am a full time student with a part time job as a research assistant but i find playing with stocks and analyzing the market to be fun so i'd like to give it a shot. i've researched companies and stocks i want to invest in and all that is left is actually investing. do i have to use scottrade, etrade, ameritrade etc to trade online? there is no way to directly buy shares from the company online? the reason i ask is because these websites do have fees per trade. and im trying to have as little cost as possible. Thanks for the help.
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Answer:
There are a few companies that sell directly to the general public, but you are better off going through a discount brokerage house. It opens you up to a lot more options, you can buy and sell on the spot (companies that do it direct do it at the end of the trading day), and it gives you access to a lot of mutual funds. The cost per trade is not high, so I think it is worth it.
MrSneppl... at Yahoo! Answers Visit the source
Other answers
Brokerages like those are the best way to go in your shoes. However, you don't have to use those brokerages. Check out some of these others who are priced a little friendlier... Optionshouse.com Sogotrade.com Lightspeed.com Check out this site for a list of them: http://www.elitetrader.com/br/
Blue
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