Etrade?

baseballlover1 · 03-26-08, 08:51

Anyone do it? I just got an account and bought like 25 dollars worth of stock and they charged me a 10 commission. i feel

Setec Astronomy · 03-26-08, 09:26

Shoot, I would have invested that money in that local detailing business you keep talking about.

Holden_C04 · 03-26-08, 09:37

Stocks aren't the right investment choice for a man of your age. Your father can advise you on the correct choice.

NSXTASY · 03-26-08, 09:42

Quote:

Originally Posted by Holden_C04

Stocks aren't the right investment choice for a man of your age. Your father can advise you on the correct choice.

Pfft, whats age have to do with investing $25 in stocks?

Black240SX · 03-26-08, 09:43

I would have thought it illegal for a minor to be trading on the stock market.

Setec Astronomy · 03-26-08, 09:55

Quote:

Originally Posted by Black240SX

I would have thought it illegal for a minor to be trading on the stock market.

What, you can't do eTrade with PayPal?

themightytimmah · 03-26-08, 10:17

Heh, now's not a good time to play the market.

Might be a good time to buy and hold though.

rm1mty · 03-26-08, 10:51

You need more money than that to trade. You need $1,000 or $2,000 to really get started, otherwise you should do something like ShareBuilder, where you can buy and hold small lots over time.

Black240SX · 03-26-08, 11:13

Quote:

Originally Posted by baseballlover1

Anyone do it? I just got an account and bought like 25 dollars worth of stock and they charged me a 10 commission. i feel

Feel what? That the stock market is a scam? Well, at least you are a fast learner.

mysteryan · 03-26-08, 11:32

If you only have $25 to trade, you shouldn't be trading. Your stock would have to gain 40% to make up your losses in commision. Even then, when you sell, that's another $10. You spend at least a few hundred in a stock purchase and at least a few thousand in your portfolio. If you want to just save a few bucks here and there, open up a CD or something. If you can't make the minimum, I would suggest a high yield online savings account. HSBC and ING Orange online savings accounts usually have the highest yields. BTW, I use TD Ameritrade and the stock market isn't a scam if you know what you're doing.

kh765 · 03-27-08, 12:09

Quote:

Originally Posted by Black240SX

Feel what? That the stock market is a scam? Well, at least you are a fast learner.

The stock market is only a scam if you invest like a fool. Investing in things like index funds can give you great returns over a long period of time. If you want to keep your money in a low yield savings account, be my guest, but you can historically make so much more investing in even low-risk investments.