Buy Stocks Online With ShareBuilder
My only experience with online brokers is with ShareBuilder, and so far I have been relatively pleased. Having no prior experience with stock trading and not knowing the best stocks to buy, it was an easy system to figure out. Also, since I am a broke college student, the fact that there isn’t a minimum amount required for investing was (and still is) very attractive. Also, there is no recurring monthly fee for a basic account to buy stocks online..
Depositing money in your investment account is not difficult – it is just like making an online purchase that is funded directly from your primary checking account. Funds can be added or withdrawn at any time. I usually do my own research on my investments, but ShareBuilder does have some good resources for information on historical stock prices and ratings.
They also have several great walk-throughs to find out which investing plan is right for you based upon the information you give them, such as when you plan to retire, and how much you plan to save per month to your retirement or other investment accounts. These recommendations are extremely helpful for clueless investors like me who don’t know exactly what to do about saving for retirement, but know they want to start now. You can also change and customize any recommended plans, so nothing is set in stone.
I felt comfortable opening an IRA with ShareBuilder, and I derive a sense of glee when I can watch my investments appreciating (or depreciating, but that’s not usually the case) on a regular basis. After just having gone through tax season, I was grateful that ShareBuilder furnished the tax documents on my investments and dividends; otherwise I wouldn’t have had a clue where to start with tax information regarding my ShareBuilder accounts. Also, they email me monthly statements in case I haven’t logged in recently (difficult for me to do personally, but probably a better idea to keep from anal-retentively checking your stocks on a daily basis), and also send notifications and updates through email.
The one thing I wish I would have investigated earlier about ShareBuilder is how to get their advertised $4 trade fees. Normally it is $10 to place a trade with ShareBuilder, and as a new investor, I thought it was because I had a basic account. In fact, the way to get $4 trades is to utilize their Automatic Investing feature. When you set this service up (which is free to all account holders), every trade placed through Automatic Investing will cost $4 per trade, not $10. Apparently $10 is the fee for a real-time (right this second or whenever the markets are open) trade with ShareBuilder.
All in all, as a newbie investor, ShareBuilder has been a great online broker for me to become familiar with investing, and I would certainly recommend it to anyone interested.
Tags: automatic investing, best stocks, Best Stocks To Buy, buy stocks, Buy Stocks Online, dividends, ING, investment account, investments, investor, investors, money, online broker, online brokers, sharebuilder, stock price, stock prices, stock trading, stocks, tax information, tradesRelated posts
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