Wall Street. One of the most important and well known areas of America. Wall Street is home to the Nasdaq and New York Stock Exchanges. It is said by many people that Wall Street is the economic backbone of America that supports not only Americans, but also millions of people all over the world. People who live in the U.S., as well as the hundreds of millions of people in the international economic community, rely on the status of both Stock Exchanges because this is what determines the economic value of everything in the U.S including businesses, products, and services. These economic factors also effect many other markets and exchanges all over the world.
Many people are often overwhelmed at how to even go about becoming a part of the people who finance their incomes through the using of these markets. The starting processes are relatively simple, however, there is a lot of information that must be obtained by each and every individual before investing in any market in order to make successful gains.
The first thing that needs to be determined is the financial goals, or what you want your investments to be used for. For example, if an individual wants to create a retirement fund, they may want to look into a Roth or Traditional IRA. And if an individual wants to find another source of income, then they might want to not only educate themselves on traditional stock trading, but also options trading. One of the most wonderful things that are available through the development of technology is that there are many different programs that teach and instruct various individuals on what would be the best option for their financial goals.
In starting in the world of finance, an individual must have a few things in order to get started. What these materials typically consist of are 1. A Checking Account, and 2. Some form of identification like a passport, drivers license, or a state issued ID to prove your identity and/or citizenship. Once these are obtained, the next step is to open a stock account through a brokerage firm. Some of the most common online brokerage firms are E*Trade, TD Ameritrade, Scottrade, Fidelity, Options House, and Charles Schwab. Each and every one of these brokerage firms essentially have the same amount of access in the ability to make trades on various markets. The defining factor, for many individuals is the price per trade, or transaction, regardless of the amount of shares bought or sold, or the totaling amount. that is initiated by the individual. The costs per trade can vary from $4.95 up to $9.99. I personally use E*Trade ($9.99 per transaction) for my retirement fund, and I use TradeKing ($4.95 per transaction) for my more frequent trading.
Some of these online brokerage firms have software programs that help educate new and experienced investors alike in how to invest in the market using a variety of tactics. And as one would assume, the higher priced brokerage firms offer better state-of-the-art tools to help individuals stay more informed on the news for various companies as they make decisions to buy and sell stocks and options. Some stock brokerage firms also offer a software program for individuals who are new to the market to learn about different operations, without having to deal with a large risk. Through my research in market education, Dough.com has proven, to me, as one of the most effective and user friendly software platforms for stock education. This particular software uses TD Ameritrade as their "preferred" stock trading broker for their program. I personally regard TD Ameritrade as being one of the best stock brokers for having the best tools for investors.
Below are some of the links for the websites that are mentioned in this blog. Please feel free to check them out! Please post any questions or comments in the box below. Good Luck!!!
Dough
TD Ameritrade
E*Trade
TradeKing
Disclaimer: This writer is not paid nor represents any company expressed in the above statements, nor has any personal affiliations with any of these parties. All investments are considered as risk, at which any investment can and does result as financial loss. The writer does not assume responsibility for any financial decisions made by any individual who considers any of the information given, or views that are expressed. Any of the statements or views expressed by the writer are opinion only, and is not to be interpreted as actual fact, nor as any type of advisement. Any reproduction or usage of this text is strictly prohibited unless otherwise permitted by the author in writing.
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