How much money do you need to open a brokerage account?

Go on-line and check out their trading fees, services, and available research. When I last looked, M. Seibert's (800-stock-11) standard fee for an on-line trade was only $14.95, while Quick & Reilly's (800-634-6214) was $19.95, CSFB Direct's was $20.00 and Charles Schwab was an uncompetitive $29.95 plus a mysterious $3.00 fee.

The lowest prices offered by on-line brokers are $5.00 and up by ScotTrade, Datek, E*Trade, Ameritrade, and Brown & Co., which all set various minimum account balances. All of these on-line brokers have good research tools.

Other discount brokers include Fidelity (800-343-3548) and Vanguard brokerage (800-992-8327)

Not everyone should choose a discount broker. To get personalized service and someone to bounce ideas off, many investors feel that the $39 to $50 fee charged per trade by a full-service company of is a bargain.

Full service brokers will sit down with you to discuss your portfolio, and many have years of experience successfully advising their clients. The full-service broker also has every conceivable research tool available.
 

Other Stock Market Basics Topics:

1. Stock Market Basics
   
2. Why invest in the stock market?
   
3. Why Sell Stock?
   
4. How are shares bought and sold on the NASDAQ?
   
5. How stocks are traded on the New York Stock Exchange
   
6. What are ECNs?
   
7. Supply and Demand
   
8. American Stock Exchanges
   
9. International Stock Exchange
   
10. What fuels demand for a stock?
    
11. More to Know About Stock Trading
    
12. Limit Orders
    
13. Market Capitalization
    
14. Preferred Stock
    
15. How to Buy Stock?
    
16. How much money do you need to open a brokerage account?
    
17. Money Market Funds
    
18. Margin Loans and Investment
    
19. Corporation Executive Pay
    
20. How much money do you need to open a brokerage account?
    

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