questions about investing or stocks?
I saw a commercial about ing direct or something like that and they said there is no minimum to invest, I dont have alot of money but i thought about investing 100 dollars to start and just try it out since that is a minimum but it would really be the most i could chance right now?
Is it a good idea to do that or do i just need to forget about it or is there some other way that i can invest that small of an amount of cash and actually see it get bigger?
Im not looking to make a million dollars well it would be nice lol but im a realist, i would just like to make more from my money than a 5% savings account
- Ron BerueLv 61 decade agoBest Answer
Before opening any trading account with any broker, I have a suggestion or a few:
You can usually find excellent, easy-to-understand definitions of many financial and investment terms by going to this free site, recognized by Y! A as a "Featured Knowledge Partner":
Investopedia also has a free, paper trading platform. You can set up a virtual account and almost trade as though you were trading with your own hard-earned money.
http://finance.yahoo.com is also recognized by Y! A as a "Featured Knowledge Partner"
Thanks for asking your Q! I enjoyed answering it!
Yes, that is my real last name!Source(s): My wonderful family! My wonderful coaches and mentors! TWO  of THE ABSOLUTE BEST, MOST wonderful trading groups in the world, which I am most proud to be a member of! Trading stocks and options more than 2 years. "THE University of Hard Knocks"
- 1 decade ago
ING Direct recently took over Sharebuilder.com and they do have no minimums to open an account-but their commission is $10 a trade or you can set-up automatic investing plans with them but then they charge $12 or $20 per month.Other brokers like Etrade will also charge a commission of $12 I believe.There are a very few mutual funds which let you start with only $100 such as the Laudus funds.
- The ScorpionLv 61 decade ago
As far as I know ING is not an investment tool but just a slightly higher rate online savings account. What you should do is regularly save, put together a few more dollars, and call Smith Barney or a similiar institution. I can't recall the minimum you need, maybe 500 or 1000, but the key is REGULAR savings added each month. They will suggest a ROTH IRA invested in mutual funds. 100 bucks will lead nowhere, but accumulated regular savings will lead to millions of dollars if you start young enough.
- 1 decade ago
it's a good idea to start buying some stocks for long term (with the actual inflation is the only way to protect your money). Is even better to buy some ETF instead of pure stocks.
Forget about Etrade and Scotttrade that other post is saying. (They have $9 respective $4.99 transaction fee to buy and sell)... so if you want to buy $100 of stocks you already LOST 5-10% that is VERY Bad...
Check also "www.zecco.com", but I don't know about minimum to open the account and other conditions... they have some ZERO commision....
I am with a broker that charge $1.00/100 share or $1.50/200 shares, but you got to generate $30/month in trading and got a minimum $2000 in account. But this probably is not for you now.
The idea is when you trade and invest you want to make money for you not for your unscrupulos broker...
If you want to learn how to invest listen to other advise that you have - you could paper trade/invest on diferent sites... Is not the some as with real money (you don't have the same emotion as with real money)
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- 1 decade ago
Let me give you what I believe is excellent advice. It is , in my opinion, perfect for a small investor.
You should consider opening a DRIP Plan. I have had mine for about 22 years, and my annual return rate is 10.4%. This is a very healthy annual rate.
Brokers and financial planners do not like to recommend them because their commission rate is very low. The professionals concentrate on getting investors into mutual funds, as that is where they make their money.
The most attractive feature about DRIP's is, you get to choose from the best corporations in the world. You can have General Electric, Toyota, Royal Bank of Canada or McDonalds in your portfolio. These are companies you know are going to be around for many years. There is less risk in these big Blue Chip stocks.
They are inexpensive to start and maintain, and your dividends are reinvested for free. If you start your DRIP Plan with the right company, it will cost you only $4 everytime you purchase some shares.
They are perfect for small investors, as well as big investors. They are safe and allow you to not care about whether the market is going up or down.
Good LuckSource(s): www.low-cost-stock-recommendations.com DRIP Section
- Anonymous1 decade ago
I trade with BofA. if you open an account with more than $100k, you get your own personal banker, and trades for $5 each. Any outstanding cash in the account makes a money market rate of interest and you can write checks and pay bills out of the account - all at no charge. If you just want a money market account, ING has some of the best rates, but I think the return is staggered with the account size.
- 1 decade ago
If you want to get curious try a simple stock broker like etrade or scottrade. They have easy starter kits for beginners..and there share fee is CHEAP. Stock is good thing to get into while your young...you might get very broke the first tries you put your money on...but you'll get the whole new world of stocks sooner or whenever how long it may take yah...