Quote:
Originally Posted by mike_ob
Hi everyone, I am looking to take my first step into the market but I am not sure how. I know the bare basics on trading and that is about as far as it goes, so I plan on using a firm to invest because I lack the time to manage my own portfolio. I would just like some pointers and tips on what to look for in a firm.
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When looking for the best online stock trading site, you should consider:
1. Is it user friendly? A good stock trading system is easy to use and should have a very simple learning curve. Sometimes seconds matter in trading, so having a trading system that’s awkward or unwieldy to use can lose you money.
2. Word of mouth. What are your friends and other traders saying about stock trading systems out there. Hit up a few discussion rooms or bulletin boards before you make a choice of who to go with to avoid picking the wrong system.
3. Fees. It’s hard enough to make a profit these days without having it eaten up by system fees and commissions. Make sure you understand the fee structure and any extra or hidden costs before purchasing a system.
4. Tutorials. For starting investors, a good explanation of the various buying and selling options and other trading terminology can make a big difference and prevent a lot of newbie errors. A good trading system will provide a quick reference you can use to look up concepts that may not be familiar to you.
5. Results. How have others benefited from using the system. Can the system provide you with documented results of its success? If the answer’s no, you may want to consider another system.
First step in the market......
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