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investing for beginners

stock brokerages

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overview

Where can you go to start investing? Online brokerages! Let chat about some of your options and what to look out for.

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Ok, so you understand what you’ve learned and you’re looking to get started. Where can you go?

 

There are online brokerage sites like FidelityRobinhoodEtrade, and more that can help you get started.

 

What to look for when you’re looking at brokerage firms:


Transaction fees
–some brokerages will charge you a fee every time you trade (buy or sell) a stock. When you’re starting out, it can be frustrating to lose potential investing dollars to fees–keep an eye out!


Promotions
–many brokerages will also offer initial promotions when you open accounts (some will even drop a few bucks into your account to get you started!).


Easy tax prep
–once you start investing in the market, you’re going to have to start paying taxes on your earnings. You’ll owe taxes as soon as you one of your investments pays you a dividend or you sell one of your investments for a profit. One major benefit of investing through an online brokerage is that they prepare tax forms for you. Most will even sync automatically with softwares like Turbotax to make it super easy for you come tax time.


Seamless transfer of funds
–it’s generally fairly easy to link your brokerage account with your bank account so that you can easily transfer money.


Performance analytics
–curious about your rate of return? Look for brokerages that can show you how your investments are performing relative to the market.


Stock tips and suggestions
–some brokerages will also allow you to view investor materials and stock suggestions. Don’t take these suggestions as gospel, but it’s always nice to be presented with investing ideas!

 

When you choose a brokerage, be sure to check whether they charge you on a per-transaction basis, if they have an account balance minimum, and if they have any promotional offers (sometimes they’ll give you some money to start an account).

 

Happy investing!

 

Source(s): Bankrate

No account yet? Register

investing for beginners

stock brokerages

Where can you go to start investing? Online brokerages! Let chat about some of your options and what to look out for.

Ok, so you understand what you’ve learned and you’re looking to get started. Where can you go?

 

There are online brokerage sites like FidelityRobinhoodEtrade, and more that can help you get started.

 

What to look for when you’re looking at brokerage firms:


Transaction fees
–some brokerages will charge you a fee every time you trade (buy or sell) a stock. When you’re starting out, it can be frustrating to lose potential investing dollars to fees–keep an eye out!


Promotions
–many brokerages will also offer initial promotions when you open accounts (some will even drop a few bucks into your account to get you started!).


Easy tax prep
–once you start investing in the market, you’re going to have to start paying taxes on your earnings. You’ll owe taxes as soon as you one of your investments pays you a dividend or you sell one of your investments for a profit. One major benefit of investing through an online brokerage is that they prepare tax forms for you. Most will even sync automatically with softwares like Turbotax to make it super easy for you come tax time.


Seamless transfer of funds
–it’s generally fairly easy to link your brokerage account with your bank account so that you can easily transfer money.


Performance analytics
–curious about your rate of return? Look for brokerages that can show you how your investments are performing relative to the market.


Stock tips and suggestions
–some brokerages will also allow you to view investor materials and stock suggestions. Don’t take these suggestions as gospel, but it’s always nice to be presented with investing ideas!

 

When you choose a brokerage, be sure to check whether they charge you on a per-transaction basis, if they have an account balance minimum, and if they have any promotional offers (sometimes they’ll give you some money to start an account).

 

Happy investing!

 

Source(s): Bankrate

lessons in this course

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