How to start trading stocks?
Why start now?
Putting market conditions aside, now is arguably the best time for a new person to get into trading. Most major trading brokerages have significantly minimized the requirements to join as well as removed many fees and penalties that everyone hates. Additionally, keeping up with up-to-the-second stock news and pricing is now easier than ever.
What use to be privileged to those with large bank accounts is now available to everyone.
The first thing you need to do is open an online trading account offered by a number of brokers. Most will let you sign up with no minimums - if you only want to invest $20.00, just about everyone will let you sign up and make trades! Though TheChartReaders will not recommend any specific broker, here are a few things we recommend considering or asking when deciding:
Is there a minimum initial deposit required to sign up?
What are the fees per trade?
Any unique fees for international companies/exchanges or penny stocks?
Do they offer Real Time Quotes? (That basically means is there a lag on their app/desktop/etc or are prices always “real time”)
Have there been any compromises to the brokerage’s security?
What happens to your money if there is a hack that was not your fault?
You should find the answers to most of these questions the same; however, any differences could be worth swaying your ultimate brokerage decision. With your broker selected, it should take a few simple questions before your account is created, bank account is linked, and up to 3 days before any money you transfer is ready to trade.
Personal note from one of the site founders
I remember when I first signed up to make a real trade more than 10 years ago. I was a 20-something intern making minimal income, but was lucky enough to work with a few older and wiser people that said: “There was a better use of my money than most of the pointless things I was buying.” With the success of a major movie release, and knowing the franchise committed to releasing three more movies, I decided to invest $250.00 into a publicly traded movie company.
One simple trade got me hooked, and my desire to learn more and improve began!
