Online stock trading

[hhiipp]

My brother in law and I are looking into trading stocks online but before we really commit to a site I was wondering if any of you could shed some light on your experiences with online trading.

Most likely we won't be doing tons of trading so the transfer fees aren't that big of an issue. The major setback is that we only want to invest a few hundred dollars as we are both extremely naive as to how the whole thing works. With a limited balance we're already ruling out some possible sites because of their high requirements, ie $1k+.

Any opinions you could share would be appreciated.

[Samdari]

Originally Posted by hhiipp

My brother in law and I are looking into trading stocks online but before we really commit to a site I was wondering if any of you could shed some light on your experiences with online trading.

Most likely we won't be doing tons of trading so the transfer fees aren't that big of an issue. The major setback is that we only want to invest a few hundred dollars as we are both extremely naive as to how the whole thing works. With a limited balance we're already ruling out some possible sites because of their high requirements, ie $1k+.

Any opinions you could share would be appreciated.

FYI - $1k is considered a ludicrously low requirement for an amount to be investing.

I think most B&M brokerages have requirements more on the order of $10,000.

I think the thought process here is if you only have $1000 available to invest, you can't really afford to be in that market.

[MacroGuru]

Why not?

It all boils down to what you know and if you know how to do it.

I just took $1700 and turned it into $8200 all on knowing what to look for, and I am now, on the same stock, making money as it rebounds up.

I know people that have jumped in with $500 and played, it all depends on what you know.

Honestly, if you have the knowledge play.

hhiipp, I would look into learning a lot more about the market, before just jumping into it. If you just jump, you might as well send that money to someone who could use it, cause you will be throwing it away. Educate yourselves first, then play.