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Why won't E*Trade let me buy index funds?
I signed up for the most basic brokerage account. I have about $720 in my investment account. It will not let me buy index funds such as the S&P 500 Index fund.
2 Answers
- Net Advisor™Lv 71 decade agoFavorite Answer
You can buy the Spyder - S&P 500 Index under stock symbol SPY.
last trade $87.59
You need $2000 to open a margin account. You don't have enough to buy 100 shares. I never buy stocks if I can't buy at least 100 shares as a fundamental rule for me.
I'd put all this in a Roth IRA.
- Anonymous1 decade ago
Usually mutual fund companies define the minimum amount that a person must invest to purchase their mutual funds. You can purchase ETFs instead such as DIA, SPY, and QQQQ to track indexes.