Rookie investor w/ $500 and looking for a e-brokerage firm, where do I start?

nine point five

nine point five

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I've decided to throw $500 into an account to play around with, more if/when necessary and when I gain more experience. So I've been reading reviews, checking out sites, etc for about an hour and a half and it's had the opposite effect desired. People contradicting themselves, one site rating something the best, another the worst.. I can't make heads or tails of anything. Anybody have any suggestions, comments, preferably personal experiences to offer? Muchas gracias in advance
 
I've decided to throw $500 into an account to play around with, more if/when necessary and when I gain more experience. So I've been reading reviews, checking out sites, etc for about an hour and a half and it's had the opposite effect desired. People contradicting themselves, one site rating something the best, another the worst.. I can't make heads or tails of anything. Anybody have any suggestions, comments, preferably personal experiences to offer? Muchas gracias in advance
 
Believe the minimum for ETRADE is $500, personally I don't have anything bad to say about them as a customer.
 
Believe the minimum for ETRADE is $500, personally I don't have anything bad to say about them as a customer.
 
Originally Posted by Rightguard

why dont you just do the simulator the stock market is too volatile right now..
Click to expand...

Basically, no sense in throwing $500 down the drain.
 
Originally Posted by Rightguard

why dont you just do the simulator the stock market is too volatile right now..
Click to expand...

Basically, no sense in throwing $500 down the drain.
 
thanks for the opinions but with all due respect I don't think I'll be "throwing money down the drain". I've done the stock simulators, I'm pretty familiar with entry level business concepts, I feel this is my next step. Taking the plunge and having my money out there in the REAL market will force me to become even more informed, that's the most valuable thing here. thanks
 
thanks for the opinions but with all due respect I don't think I'll be "throwing money down the drain". I've done the stock simulators, I'm pretty familiar with entry level business concepts, I feel this is my next step. Taking the plunge and having my money out there in the REAL market will force me to become even more informed, that's the most valuable thing here. thanks
 
$500 is too small an amount. You need room to maneuver and enter advantageous positions or hedging positions. $500 will basically pigeonhole you.
 
$500 is too small an amount. You need room to maneuver and enter advantageous positions or hedging positions. $500 will basically pigeonhole you.
 
I've heard good things about TD Ameritrade.

Cannot speak on personal experience though.

I agree with wawaweewa, more capital is needed to maneuver.

I'm also interested in hearing some brokerage firm recommendations.
 
I've heard good things about TD Ameritrade.

Cannot speak on personal experience though.

I agree with wawaweewa, more capital is needed to maneuver.

I'm also interested in hearing some brokerage firm recommendations.
 
I believe the e-trade minimum is $1000.

I think you should look to buy etf's such as SPY or DIA which track the market (S&P 500 and Dow Jones). Great way to learn about the market. Of course you can lose money but they aren't as volatile as betting on a single company. This way you can learn about various indicators such as jobs numbers, ISM etc.

Risk is low but also return but you should look at this a learning experience.

Just my two cents.
 
I believe the e-trade minimum is $1000.

I think you should look to buy etf's such as SPY or DIA which track the market (S&P 500 and Dow Jones). Great way to learn about the market. Of course you can lose money but they aren't as volatile as betting on a single company. This way you can learn about various indicators such as jobs numbers, ISM etc.

Risk is low but also return but you should look at this a learning experience.

Just my two cents.
 
Very interesting. Not looking to hedge funds but an investor group could be put together. With technology, communication shouldn't be an issue. $500 or $1000 sounds about right just to enter. I went to school for this and it seems like that next step. 
 
Very interesting. Not looking to hedge funds but an investor group could be put together. With technology, communication shouldn't be an issue. $500 or $1000 sounds about right just to enter. I went to school for this and it seems like that next step. 
 
Originally Posted by mInDsTaTeMeNtS

I believe the e-trade minimum is $1000.

I think you should look to buy etf's such as SPY or DIA which track the market (S&P 500 and Dow Jones). Great way to learn about the market. Of course you can lose money but they aren't as volatile as betting on a single company. This way you can learn about various indicators such as jobs numbers, ISM etc.

Risk is low but also return but you should look at this a learning experience.

Just my two cents.
Click to expand...
thank you for the most useful post in this thread thus far. I am most certainly looking for a learning experience, in fact that is the MAIN purpose of any of this. I feel naturally my next step is to get my feet wet with real money now. If only I can find a good brokerage firm..
 
Originally Posted by mInDsTaTeMeNtS

I believe the e-trade minimum is $1000.

I think you should look to buy etf's such as SPY or DIA which track the market (S&P 500 and Dow Jones). Great way to learn about the market. Of course you can lose money but they aren't as volatile as betting on a single company. This way you can learn about various indicators such as jobs numbers, ISM etc.

Risk is low but also return but you should look at this a learning experience.

Just my two cents.
Click to expand...
thank you for the most useful post in this thread thus far. I am most certainly looking for a learning experience, in fact that is the MAIN purpose of any of this. I feel naturally my next step is to get my feet wet with real money now. If only I can find a good brokerage firm..
 
My first piece of advice is learn the difference between limit orders and market orders.

I would also watch Mad Money, Jim drops gems all the time.

Look into REITs.
 
My first piece of advice is learn the difference between limit orders and market orders.

I would also watch Mad Money, Jim drops gems all the time.

Look into REITs.
 
My first piece of advice is learn the difference between limit orders and market orders.

I would also watch Mad Money, Jim drops gems all the time.

Look into REITs.
 
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