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What is the most inexpensive online broker for someone who wants to buy many different stocks for long term...
investing. I use Sharebuilder right now but it seems I get eaten up with fees even in their automatic purchase plan. I like to buy around 30 different individual stocks and etf's for long term meaning I hardly sell, just buy. Is there a broker that would suit me better for my type of investing? I think the usual people on Sharebuilder probably autopurchase 2-3 different stocks, but it really doesn't work for me because after 20 purchases in a month I start getting charged for each buy.
What is the downside of investing like I do? How do most people invest long term? I was looking at ETF's and Index funds but they don't seem to have the upside that individuals do. I do however invest in 5 different index and etf's in addition to the other stocks. Am I totally off in doing it this way?
5 Answers
- 1 decade agoFavorite Answer
If you are buying like this for long term look into the company's direct purchase programs if they have one. I use the drips when I am in for the long term.
- Anonymous1 decade ago
I'll just tell you what I do and am perfectly happy with. I use my banks discount brokerage arm. I happen to bank with Wachovia. But your bank probably has one too. If I am active each quarter, which I am, all trades cost me 6.95 dollars each, which is pretty good. Along with that I can call my broker about any technical stuff, or ask him to move my money back and forth from my checking account to my brokerage account. When I call the toll free number, he answers it. I love it, and I doubt any other system is much cheaper, and certainly doesn't offer what this system has.
This might not work for you. I simply find stocks that I want to buy and hope that they go up. Of course, I've studied the company and the sector it's in, along with the market before buying. Then when it goes up, I sell. Sometimes I put in an order to sell at a given price and just wait. It works well for me. I'm just a caveman, and don't understand all of these other ways of buying and selling.
- 1 decade ago
Im having problems understanding your investment technique.
You purchase 30 stocks a month for the long-term?
I have never heard of such a plan.
Look at Zecco, Scot Trade, Tradeking
- edelsonLv 45 years ago
There are dozens of excellent appearing worthwhile agencies on the industry. Why danger you cash on a failed company basically by way of fact it quite is low-fee? in case you ought to purely arise with the money for a million share of Apple it may be much extra constructive than 10000 shares of Fannie Mae . A loser is a loser, no count how reliable it became into interior the previous.
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- Anonymous1 decade ago
you might look at OCSecurities. www.ocsecurities.com
Personal contact available or totally on line.