Help...Newbie

[joebell]

Hey guys, been around here for a while and am thinking of dabling in some of the stocks you guys are throwing out. I would like to start very small ($500??) I have looked into Scottrade they seem to have changed there fee's for the better: flat $7 for market and limit orders stocks under $1/share add 1/2 percent principle value??(not that I know what that means yet, still figuring this all out ). No inactivity fee's, no annual fee's...

Is this an OK outfit??? Should I look at another option? Any quick tips to get me started would be appreciated!!

Thanks
Joe

 

[joebell]

Oh, and what looks good for an initial purchase

 

[infinii]

"For stocks priced under $1, add 1/2% of the principal value to the commissions shown. Some Foreign and Pink Sheet stocks must be traded with broker assistance. Commissions are charged on a per order basis."

I'm guessing that for the penny stock (less than $1), they will charge you an additional .5% of the total principal.

So, if the stock was $0.50 and you bought 1000 shares for a total principal of $500 (.5*1000), they would charge you $7+(500*0.005)=$9.5

You should call their customer service to be sure though, I'm just guessing.

 

[Captain Crunch]

I use Ameritrade and have no complaints. They might not be the cheapest out there, but I have never had any problems. I'm not a trader, so I don't killed with fees anyway.

Good Luck

 

[HoopsGuru]

infii is right about the fees for scottrade its 7bucks plus a little bit, usually about 9 a transaction for the cheaper stocks. i like scottrade, orders are usually executed quickly and they have a ton of local offices if you need to talk to a rep or stop in and drop a check off. definitely recommend scottrade.

 

[worm44]

scottrade or etrade.............

 

[joebell]

Thanks guys....got signed up with Scottrade...Talked to my local office (well its 150 miles away but when you live in the sticks thats kinda local ) and things should be set this week.

Now to find the right place to get my feet wet

Thanks again
Joe