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Online Stock Trading No Longer Just For Seasoned Money Pros
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| Education and Financial

08/10/13

Online Stock Trading No Longer Just For Seasoned Money Pros

Think back to the 1980s and movies such as "Wall Street" and "Trading Places."
Those movies made life on Wall Street seem incredible edgy, exciting and, of times with the latter flick, extraordinarily funny.
They also accomplished something else: they convinced the consumer that buying and selling stocks should be left to the pros.
But as the age of the internet broke through to the general public, the stock market transformed from insider trading to easy-to-use web sites that allowed consumers to buy and sell stocks like a seasoned Michael Douglas or Dan Akroyd -- minus the slick-backed hair and demeanor and forced elitist accent, respectively.
Suddenly, the stock of online stock trading web sites were up, in terms of appealing to a larger demographic that probably had little to no experience or interest in making investments. But, in the process, did it also create a consumer base with a false sense of confidence?

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Which web site should I use?
Are any of them user-friendly and easy?
What about all the fees for sites such as Fidelity.com and Scottrade.com?
Those not in the financial know can breathe a sigh of relief, however, as the aforementioned sites, along with the plethora of other ones that function similarly, make it incredible easy to flash your financial brilliance -- even if it isn't as equipped as you'd hope.
Easily the best and easiest online trader site is the aforementioned Fidelity.com, which really sways new traders to them thanks to no fees annually or on a quarterly basis. Consumers who typically don't buy and sell stocks certainly won't look favorably on fees -- especially since there is already a serious trepidation already about potentially investing money.
Scottrade.com follows in the Fidelity.com footsteps with the same aversion to excessive fees, including zero for starting a profile or even if you don't use the sites as much as you'd like to -- what do they expect from a rookie investor, anyway?
When it comes to customer service and intellectual buying and selling advice, Zecco.com does both tremendously well with a section dedicated to stock trading tools as well as touting some of the lowest commission rates between all the investment sites. Zecco.com really caters to beginners and doesn't beat them over the head with fancy lingo or overly complicated explanations on such items as mutual funds or simple investments.
Fellow investment beginners also may enjoy referring friends to start trading, too. Some online brokers make it worth your while with various referral programs that equal free trading for everyone.
While most trading isn't free, the expense is well worth the risk and subsequent payoff. But the real reward is dealing directly with online stock traders that are fully vested in making your experience a positive one.

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