If you want to jump into the online trading market and want to know what it takes to get ready to buy and sell stocks here you will find the 3 most basic steps required before you can begin â€“ online that is. This article will cover getting started online and what you need to do.
Step 1) If you have decided that you want to buy or sell stocks the first thing that you will want to do before you can even consider buying and selling stocks online is to open up an online Brokerage account. This is going to be a mandatory step before you can begin buying and selling online stocks.
Don't just jump on the first service that offers to sign you up with an online brokerage account however. First you have to do some research and find out what service is really going to offer you the best options and cover all of your needs.
The top five things to look for in a service are; minimum balance requirements, mandatory fees for both account balances and commissions, level and quality of customer service offered, fine print related to your ability to freely buy or sell stocks online and reviews from others utilizing their services. Reviews from previous clients may be your best form of education as far as finding the right service to sign up for a brokerage account goes as you will get to see first hand accounts of others experiences to judge off of.
Step 2) The next step to be taken before you can buy and sell stocks is to add funds to your account. Obviously the stocks you will be looking into are not going to be free so you will need to ensure you have enough in your account to cover your investments.
To fund your account you are often given a couple of options depending on the type of account and the service that you have signed up through. Those options typically will be one or both of the following: add a direct link to your online brokerage account from your banking account which will allow you to transfer funds directly or you can mail or drop off a check for deposit into your trade account.
Step 3) You should now be almost ready to begin to buy and sell stock. All that is left to do is to research the stock or stocks that you are considering investing your money in and make sure that you understand the market risks and trends. Research (and possibly some luck) will be the difference between tanking and being successful.
As with any financial investing whether you are going to buy and sell stocks, considering investing in a business endeavor or taking or making a loan â€“ DO YOUR RESEARCH, know what you are getting into and what the pro's and con's are for each investment option you are considering. Playing safe does not always pay off but playing smart does and always will benefit you!!
Photo Courtesy of: sxc.hu/linder6580