Good trade site for small trades in stock market?
August 18th, 2010 | 
Author: Thinking about starting to trade in the stock market but only with small amounts to start out, somewhere around 100 to 300 dollars and was wondering if there are any good sites out there that would have minimal fees for such a small amount? I was referred to Scottrade, but told that this site is only good for thousands of dollars, and Sharebuilder as a good one for small trades.
What are your guys’s opinions? Any advice?
Mind you, this isn’t an investment thing, I am just doing htis in my free time to try to make a bit of extra money. I am not using money that I will need in the future, so don’t think I am going to go into debt or anything! Just figured this would be a better thing to do besides going to a casino and blowing my money.
Posted in free debt advice | 
Tags: Extra Money, free time, htis, minimal fees, sharebuilder, stock market, thousands of dollars, trades
2 Responses to “Good trade site for small trades in stock market?”
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With only $300.00 you could enroll in the Sharebuilder "BASIC" automatic investment plan.
There is no subscription fee for the "BASIC" plan.
No account minimum balance requirement.
The commission is $4.00 to buy or sell stock.
Using the plan you can only buy/sell stock on Tuesdays.
The commission for real time trading is $9.95.
I use Scottrade.
The minimum account balance at Scottrade is $500.00.
NO account maintenance, service, or inactivity fees.
$7.00 online trading commission for stock over $1.00 a share.
I hear a lot of folks here talk about sharebuilder, but I use TradeKing.com and they charge 4.95 for a trade. Some sites may have a minimum you need to deposit. Hopefully you can do that with what you have.
Now if you invest $100 and pay 4.95 to buy and 4.95 to sell, you just spent $10 so whatever you buy has to make 10% just for you to break even. I don’t like the math.
If you are serious, I would take a second job and try to save at least $3,000 to give yourself a chance.