Minimum open etrade brokerage account
If you've minimum open etrade brokerage account invested directly in the market before, the process of getting started can seem daunting. From knowing your investment style to screening and selecting stocks, it's easy to get lost in the weeds. But if you think you may be ready to give it a shot, the first question you'll have is likely to be: How much money do I need to begin investing?
Setting Up an Investing Account If you're a new investor with limited funds, an online, no-frills brokerage account might be just the thing you need. Many large banks also offer brokerage services. But the opening amount is just the beginning of the investment you'll make in your brokerage. Other Fees Minimum open etrade brokerage account the account is the first step.
Once you start investing, you will have to pay other fees, including the various trading commissions to buy stocks, mutual funds, minimum open etrade brokerage account options, as well as maintenance fees and potential low-balance penalties. The online brokerages vary widely in terms of trading fees, self-service and broker-assisted trades, and the types of tools and research available to customers.
Don't be fooled -- many online brokers will promise low trading fees or special promotions, but then hit you with an annual or maintenance fee. You may also get money back as interest earned on the cash you hold in your account.
Often that cash is automatically swept into a money market mutual fund or account. While the interest rates are paltry right now, at least your idle cash earns something while you wait to make a trade. Many are incorporating mobile access and even smartphone apps into their basic service lineups.
As with any service, the level of sophistication varies depending on the broker. If you're constantly glued to your smartphone, go ahead and download a few of the apps from brokers you're considering. You won't get account access, but you should be able to see several of the tools available and whether minimum open etrade brokerage account not they'll meet your needs.
Barring that, check out online videos of how the apps work, either on the broker's site or on YouTube, where someone, somewhere, has posted a how-to video of just about everything. If you think you'll need a little extra help to get started, put a brokerage's customer service to the test. Some minimum open etrade brokerage account excellent customer service, available via phone, email or chat; others have extended wait times to receive a response even to basic questions or chats that sound overly scripted and robotic.
If you want to know that you can get a real, live person when you need help, call the broker's toll-free number and say you have questions about opening an account.
While one representative might not represent the entire pool of service people you'll always get, such calls are a great way to evaluate how friendly, responsive, and knowledgeable the company may be if you become a customer. Motley Fool contributor Minimum open etrade brokerage account McCluskey appreciates your comments. Sign up for Breaking News by AOL to get the latest breaking news alerts and updates delivered straight to your inbox.
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Rules regarding treatment and administration of RRSPs are set by the Canada Revenue Agency (CRA). For specific information about your employers RRSP contributions, contact the CRA. Your employers contributions to your Group RRSP are considered earned and taxable income.
Learn more about making contributions to an Minimum open etrade brokerage account.