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[Conor_Fool]

Hey everyone,

I'm just looking for some pretty basic advice regarding online stock portfolios. What are some of the best sites for a beginner that wants to simply invest a couple hundred bucks across a few options? I'm looking to invest in ~moderate risk stocks, not a fund that will only grow or depreciate by like 2% a year.

I wanted to invest in Nintendo about a year back but I was advised that oversea stocks are a terrible place to begin and can be quite a hassle to buy and sell. So I guess I'm looking to invest solely in US stocks?

Thanks in advance!

 

[Stumpokapow]

A couple hundred dollars will result in a substantial amount of your balance being eaten every time ($6-10 each way) you make a trade because of fixed fees on trades. Most brokerages also want a minimum deposit of at least $1,000. No one is going to talk you out of trading dumb companies instead of going with an index fund, but let them at least recommend you do play money trades before investing your meagre savings.

 

[Conor_Fool]

A couple hundred dollars will result in a substantial amount of your balance being eaten every time ($6-10 each way) you make a trade because of fixed fees on trades. Most brokerages also want a minimum deposit of at least $1,000. No one is going to talk you out of trading dumb companies instead of going with an index fund, but let them at least recommend you do play money trades before investing your meagre savings.

Most def, and I appreciate the reply. So even on the most beginner friendly online stock websites, I'm looking at a minimum of $1000 deposit? And say I put $1000 on Google (just for the sake of the question), would I be looking at a much higher fee than $6-10? Basically, is the fee going to be based on the percentage of the investment or just a flat rate of $6-$10?

And can you expand on that last sentence? I'm a total beginner hear but I'm fascinated to learn more.

 

[vehn]

Use the Robinhood app, there are no trading fees and no minimum. You just have to figure out what stocks to choose, and buy them.

 

[NotTheGuyYouKill]

Use the Robinhood app, there are no trading fees and no minimum. You just have to figure out what stocks to choose, and buy them.

Is there a Canadian version of this?

 

[Maxim726X]

I would Google Index funds, OP.

Made over 8% since I started investing in them about 2 years ago (I use both Betterment and Vanguard).

Set it and forget it.

 

[thefil]

If you're looking to make solid long-term returns, you need to read up on index funds.

I pay about $10 per trade on TD Ameritrade, which is my brokerage. I don't really purchase less than $5k at a time, to make it worth it. It's a fixed price, not related to how much you're buying/selling.

If you're looking to invest for fun and actively manage your investments, set yourself a pretty hard limit, as at that point you're pretty much gambling.

 

[Conor_Fool]

I would Google Index funds, OP.

Made over 8% since I started investing in them about 2 years ago (I use both Betterment and Vanguard).

Set it and forget it.

I actually have a good amount of money in an index fund already, just not going to touch it for a while. That's why I'm thinkin about lower scale but more risky investments to satisfy my itch.

And thanks Vehn! I'm checking the app out now

 

[vehn]

Is there a Canadian version of this?

Doesn't seem like there is

 

[Stabby McSter]

Use the Robinhood app, there are no trading fees and no minimum. You just have to figure out what stocks to choose, and buy them.

robinhood is good

they do put holds on your deposits if it's over a certain amount though

 

[ClosingADoor]

We have a stock thread going on there http://www.neogaf.com/forum/showthread.php?t=176332

Most def, and I appreciate the reply. So even on the most beginner friendly online stock websites, I'm looking at a minimum of $1000 deposit? And say I put $1000 on Google (just for the sake of the question), would I be looking at a much higher fee than $6-10? Basically, is the fee going to be based on the percentage of the investment or just a flat rate of $6-$10?

And can you expand on that last sentence? I'm a total beginner hear but I'm fascinated to learn more.

Most brokers will take a minimum fee (mine is $4) and then a small percentage. If you do small trades, that $4 is already a fair bit, since it doubles when you sell, so it is now $8, and maybe even over 1% of your investment, which would be a waste. You want to do trades from around $1500 or so if you ask me.

But first, rule number 1 is: don't invest money in individual stocks you can't stand to lose. If you do not have savings already and a plan for a long term retirement account, then start on those. Good thread with lots of help here http://www.neogaf.com/forum/showthread.php?t=749978

Basically, you are probably not going to beat the market year after year. So investing in some index funds and just putting money in at a set timetable (so you both buy at the high and lows) and you will make money over time with no worries and doing literally nothing. There are even some tax incentives to do this (pay taxes on it when you take the money out instead of up front).

The money you use on stocks you pick yourself should be play money that is just for fun and hopefully returns, but it can also lead to losses.

 

[Conor_Fool]

We have a stock thread going on there http://www.neogaf.com/forum/showthread.php?t=176332


Most brokers will take a minimum fee (mine is $4) and then a small percentage. If you do small trades, that $4 is already a fair bit, since it doubles when you sell, so it is now $8, and maybe even over 1% of your investment, which would be a waste. You want to do trades from around $1500 or so if you ask me.

But first, rule number 1 is: don't invest money in individual stocks you can't stand to lose. If you do not have savings already and a plan for a long term retirement account, then start on those. Good thread with lots of help here http://www.neogaf.com/forum/showthread.php?t=749978

Basically, you are probably not going to beat the market year after year. So investing in some index funds and just putting money in at a set timetable (so you both buy at the high and lows) and you will make money over time with no worries and doing literally nothing. There are even some tax incentives to do this (pay taxes on it when you take the money out instead of up front).

The money you use on stocks you pick yourself should be play money that is just for fun and hopefully returns, but it can also lead to losses.

Thank you! And I fully understand the bolded.

Just threw $80 into Coinbase for half an Ether coin