Rookie investor w/ $500 and looking for a e-brokerage firm, where do I start?

My first piece of advice is learn the difference between limit orders and market orders.

I would also watch Mad Money, Jim drops gems all the time.

Look into REITs.
 
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, stock market knowledge flowin........continue
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I use Scottrade and its great. I started with about the same amount of money you are. If you are investing in stocks, as opposed to trading in stocks, $500 is enough all this maneuvering talk is nonsense if you are investing. Scottrade is also good because there is no inactivity fee, which can eat into a $500 balance fast. You won't be diversified with $500, but its nothing wrong with that at all. You should look at Citigroup (C) as a potential investment, its earning will be double what they are now in three years IMO.
 
I use Scottrade and its great. I started with about the same amount of money you are. If you are investing in stocks, as opposed to trading in stocks, $500 is enough all this maneuvering talk is nonsense if you are investing. Scottrade is also good because there is no inactivity fee, which can eat into a $500 balance fast. You won't be diversified with $500, but its nothing wrong with that at all. You should look at Citigroup (C) as a potential investment, its earning will be double what they are now in three years IMO.
 
Stock market is not for fun. People make a living there. 500 would be a waste of money especially off commissions and sell commissions. If you just watch the marketing for E-trade, scottstrade and other online mobiles, you'll see they work just like casinos/sports betting. But if you asked me to pick 1 for you, go with scottstrade.
 
Stock market is not for fun. People make a living there. 500 would be a waste of money especially off commissions and sell commissions. If you just watch the marketing for E-trade, scottstrade and other online mobiles, you'll see they work just like casinos/sports betting. But if you asked me to pick 1 for you, go with scottstrade.
 
I use Scottrade and its great. I started with about the same amount of money you are. If you are investing in stocks, as opposed to trading in stocks, $500 is enough all this maneuvering talk is nonsense if you are investing. Scottrade is also good because there is no inactivity fee, which can eat into a $500 balance fast. You won't be diversified with $500, but its nothing wrong with that at all. You should look at Citigroup (C) as a potential investment, its earning will be double what they are now in three years IMO.

Not really.  Investing in a broad market ETF, such as SPY as mentioned (my recommendation for beginner investors), will diversify you.  Technically, it would provide complete diversification of the U.S. market, but not the world market, but it will provide you with a very high risk/return (Sharpe) ratio. 

Markets are not very volatile currently (well, relative to the past couple of years), and there is a lot of economic uncertainty, so be sure to take that into consideration. 

Good luck!
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I use Scottrade and its great. I started with about the same amount of money you are. If you are investing in stocks, as opposed to trading in stocks, $500 is enough all this maneuvering talk is nonsense if you are investing. Scottrade is also good because there is no inactivity fee, which can eat into a $500 balance fast. You won't be diversified with $500, but its nothing wrong with that at all. You should look at Citigroup (C) as a potential investment, its earning will be double what they are now in three years IMO.

Not really.  Investing in a broad market ETF, such as SPY as mentioned (my recommendation for beginner investors), will diversify you.  Technically, it would provide complete diversification of the U.S. market, but not the world market, but it will provide you with a very high risk/return (Sharpe) ratio. 

Markets are not very volatile currently (well, relative to the past couple of years), and there is a lot of economic uncertainty, so be sure to take that into consideration. 

Good luck!
Click to expand...
 
Start an account with ING's Sharebuilder.com. They have NO MINIMUM investment with $7.95 trades. They also have several convenient options ...

DRIPS (Dividend Reinvestment) - Automatically re-invest your dividends, thereby buying whole/fractional shares instead of sending you a dividend check. (Good for long-term investing)
Automatic Investing - Allows you to automatically purchase a fixed dollar amount in stocks chosen by you. (This will allow you to take advantage of dollar-cost averaging which is also good for long-term investing.) It will also recommend funds (ETF's) for you to invest in given your risk/liquidity preferences.


I used to trade with Scottrade, but I would highly recommend Sharebuilder over them.
 
Start an account with ING's Sharebuilder.com. They have NO MINIMUM investment with $7.95 trades. They also have several convenient options ...

DRIPS (Dividend Reinvestment) - Automatically re-invest your dividends, thereby buying whole/fractional shares instead of sending you a dividend check. (Good for long-term investing)
Automatic Investing - Allows you to automatically purchase a fixed dollar amount in stocks chosen by you. (This will allow you to take advantage of dollar-cost averaging which is also good for long-term investing.) It will also recommend funds (ETF's) for you to invest in given your risk/liquidity preferences.


I used to trade with Scottrade, but I would highly recommend Sharebuilder over them.
 
Originally Posted by isiahil

I use Scottrade and its great. I started with about the same amount of money you are. If you are investing in stocks, as opposed to trading in stocks, $500 is enough all this maneuvering talk is nonsense if you are investing. Scottrade is also good because there is no inactivity fee, which can eat into a $500 balance fast. You won't be diversified with $500, but its nothing wrong with that at all. You should look at Citigroup (C) as a potential investment, its earning will be double what they are now in three years IMO.
Click to expand...
You're entitled to your opinion, but I wouldn't touch financials with a 10 ft. pole. Especially, since no one know is the economy will rebound/dip. Also, Citigroup isn't one of the stronger of the financials. ETF's are a good recommendation. SPY is good, but I would add others such as AGG, GLD, VIG.
If you want to practice first, use www.updown.com. I've used it for 2-3 years and it's an excellent way to learn. I would also recommend that you read before you invest. Check out "A Random Walk on Wall Street" and "Security Analysis"/"The Intelligent Investor" by Benjamin Graham.
 
Originally Posted by isiahil

I use Scottrade and its great. I started with about the same amount of money you are. If you are investing in stocks, as opposed to trading in stocks, $500 is enough all this maneuvering talk is nonsense if you are investing. Scottrade is also good because there is no inactivity fee, which can eat into a $500 balance fast. You won't be diversified with $500, but its nothing wrong with that at all. You should look at Citigroup (C) as a potential investment, its earning will be double what they are now in three years IMO.
Click to expand...
You're entitled to your opinion, but I wouldn't touch financials with a 10 ft. pole. Especially, since no one know is the economy will rebound/dip. Also, Citigroup isn't one of the stronger of the financials. ETF's are a good recommendation. SPY is good, but I would add others such as AGG, GLD, VIG.
If you want to practice first, use www.updown.com. I've used it for 2-3 years and it's an excellent way to learn. I would also recommend that you read before you invest. Check out "A Random Walk on Wall Street" and "Security Analysis"/"The Intelligent Investor" by Benjamin Graham.
 
Originally Posted by theconditioner

Click to expand...

Not really.  Investing in a broad market ETF, such as SPY as mentioned (my recommendation for beginner investors), will diversify you.  Technically, it would provide complete diversification of the U.S. market, but not the world market, but it will provide you with a very high risk/return (Sharpe) ratio. 

Markets are not very volatile currently (well, relative to the past couple of years), and there is a lot of economic uncertainty, so be sure to take that into consideration. 

Good luck!

You are right, I didn't even think of ETFs.
 
Originally Posted by theconditioner

Click to expand...

Not really.  Investing in a broad market ETF, such as SPY as mentioned (my recommendation for beginner investors), will diversify you.  Technically, it would provide complete diversification of the U.S. market, but not the world market, but it will provide you with a very high risk/return (Sharpe) ratio. 

Markets are not very volatile currently (well, relative to the past couple of years), and there is a lot of economic uncertainty, so be sure to take that into consideration. 

Good luck!

You are right, I didn't even think of ETFs.
 
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